Regulation ///

U.S. seeks to boost oil royalties to account for climate change

The Biden administration on Friday issued a long-awaited blueprint for overhauling oil and gas development on federal lands that includes boosting royalty rates despite high gasoline prices that have spurred demands to accelerate domestic production.

Iran seeks to return oil output to pre-sanction levels

Iran wants to pump more oil than it did before the Trump administration tightened sanctions, a top official said ahead of high-level nuclear talks whose outcome would directly impact the country’s energy-market ambitions.

Canada rejects Enbridge plan to keep oil pipelines full

Enbridge Inc.’s proposal to keep its massive Mainline oil pipeline network full through long-term contracts was rejected by Canada’s top energy regulator in a win for some producers who want more flexibility to ship their crude.

Biden wants the world to go green, while pushing for cheap gasoline at home

President Joe Biden wants Americans to dramatically scale back their use of gasoline. And he wants that fuel to be as cheap as he can get it. If you sense a contradiction there, you’re hardly alone.

Sen. Elizabeth Warren challenges U.S. gas producers on exports

U.S. Senator Elizabeth Warren is asking the CEOs of nearly a dozen of the nation’s top natural gas producers why so much of the heating fuel is being exported heading into winter as Americans face rising utility bills.

European gas prices rise on U.S.-Russia sanctions, SPR plans

European natural gas futures rose on Tuesday after the U.S. imposed its latest sanctions aimed at Russia’s Nord Stream 2 pipeline, a move the Kremlin says is “illegal.”

U.S. considering a ban on crude oil exports, says House Democrat

A House Democrat who’s urging the White House to reduce oil prices by banning exports of U.S. crude oil says he’s been told the idea is under consideration.

What the House passage of Biden’s $2T tax and spending bill means for U.S. energy

Commenting on the passage of the bill, American Petroleum Institute President and CEO Mike Sommers said “At a time when energy prices have risen alongside broader economy-wide inflation, the House reconciliation bill would only exacerbate the challenges facing Americans."

U.S. considers turning an 1890 antitrust law against OPEC to steer oil price

Some U.S. lawmakers are seizing on the energy price surge to revive long-standing legislation that would subject the OPEC oil cartel to the same antitrust laws used more than century ago to break up Standard Oil’s monopoly.

Biden renews pressure to find “illegal conduct” behind soaring gasoline prices

President Joe Biden urged the Federal Trade Commission to probe possible illegal conduct in U.S. gasoline markets, though any inquiry by the agency is unlikely to have an immediate impact on pump prices paid by consumers.

What's new in Exploration

William (Bill) Head, Contributing Editor

Joe Biden: “I did that!”

Biden’s offshore oil lease auction will test drillers’ appetite for risk

The Biden administration is selling drilling rights across the Gulf of Mexico on Wednesday in an auction that will test the oil industry’s appetite amid White House efforts to shift away from fossil fuels.

Biden’s quest to lower gasoline prices could mean axing biofuel mandates

As U.S. President Joe Biden weighs alternatives to lower fuel prices, one move that could bring immediate relief at the pumps is sparking debate: adjusting the Bush-era renewable fuel mandate.

Eni inadvertently buys oil from Iran, violating U.S. sanctions

Eni SpA, one of Europe’s largest oil companies, said it unwittingly purchased a consignment of crude from Iran -- an act that would have breached U.S. sanctions.

COP26: France falls in with group pledging to end oil and gas exploration

France has joined a group of countries and states that support fixing a date to end fossil fuel exploration, putting its name to an initiative that was snubbed by the UK

OPINION: UN gives Biden a passing grade on climate – would Americans give him the same grade on the economy?

Wayne Christian, Railroad Commission of Texas

President Joe Biden – clueless as ever – is using the UN COP26 summit as an opportunity to tout “green energy” while ignoring the looming threat of a global energy shortage and pretending bad actors like China and Russia are holding up their end of the bargain.

Democrats push to outlaw U.S. oil exports, threatening global market stability

President Joe Biden faces growing pressure from fellow Democrats to address rising gasoline prices with measures such as a ban on oil exports, a move that could upend global markets, discourage shale drilling and end up not helping American drivers that much.

U.S. isn’t considering Canadian oil pipeline shutdown, says White House

The White House pledged to discuss a key pipeline that carries Canadian crude through Michigan with the northern neighbor, stressing the U.S. isn’t considering a shutdown of the conduit the state’s governor wants shuttered.

Texas oil regulator passes resolution supporting reliable energy sources

Railroad Commission of Texas Chairman Wayne Christian passed a resolution urging President Joe Biden and the U.S. Congress not to include anti-oil and -gas policies in the congressional reconciliation bill known as the "Build Back Better" act.

COP26: UK won’t join coalition to phase out fossil fuels

The UK won’t join an alliance of countries fixing a date to phase out fossil fuel production, in a move that calls into question the COP26 host nation’s climate leadership.