Oil Embargo

Aerial view of cylindrical silver oil tanks

Use or Misuse of the Strategic Petroleum Reserve?

Rising gasoline prices prompted President Biden to announce on October 19 that he was authorizing the release of 15 million barrels of crude oil from the nation's Strategic Petroleum Reserve.

November 3, 2022 - The Washington Post

Close-up of multicolored gas station pumps

OPEC Plus Decision to Reduce Oil Output Could Lead to Global Recession

A decision earlier this month by a group of the world's largest oil exporters to drastically reduce oil production to stem the decline in oil prices could be a ‘tipping point’ for a global recession, says the International Energy Agency.

October 19, 2022 - The Hill

Gas Pumps

Is $7 a Gallon for Gas on the Horizon?

Global oil prices may skyrocket when the European Union, which receives about one third of its oil from Russia, enacts a partial ban on importing Russian oil at the end of the year to stop financing Russia's war in Ukraine.

July 28, 2022 - The New York Times

Moscow, Russia

Banning Russian Oil, Part II

Part I occurred when President Biden banned the importation of all Russian fossil fuels on March 8. A month later, Congress passed legislation to codify the embargo. Getting the European Union onboard is proving cumbersome.

May 12, 2022 - Politico

Environmentalism

Has the Rug Been Pulled Out From Under Environmentalists?

Robinson Meyer, a climate reporter for The Atlantic, writes about the awkward place American environmentalists find themselves due in part to the war in Europe that has created an international energy crisis and historically high fuel prices at home.

May 6, 2022 - The Atlantic

Gazprom building in St. Petersburg, Russia

Energy War Comes to the European Union

When President Putin ordered Gazprom to turn off the valve on pipelines carrying Russian gas to Poland and Bulgaria, he effectively expanded the Russia-Ukraine war to the European Union, threatening their economic well-being and way of life.

May 3, 2022 - The New York Times

Gas Pumps

Waging War on High Gas Prices

America is not at war, but that didn't stop President Joe Biden from calling the largest release of oil from the nation's Strategic Petroleum Reserve that he authorized on March 31 to lower oil prices, a 'wartime bridge.'

April 6, 2022 - Washington Examiner

Oil Drills

Sanctioning Russian Energy Exports

European leaders chose not to join the U.S. in an embargo of Russian energy products largely because of dependence on natural gas. Similarly, the world needs the 11% of crude oil that Russia exports. What can the U.S. do to lessen this dependence?

March 24, 2022 - Rhodium Group

Fracking

Pumping More Oil to Lower Gas Prices

Proponents of increased oil drilling in the U.S. to replace banned Russian oil argue that it will decrease prices at the pump. A Texas reporter examined the claim with a University of Texas energy analyst. If only it was that simple.

March 14, 2022 - KXAN

pallets of green oil barrels stacked

Banning Russian Oil

President Biden announced a ban on the importation of Russian energy on Tuesday in response to Russian President Vladimir Putin's invasion of Ukraine. He warned that gasoline prices will go even higher as a result. Europe will not be joining the ban.

March 10, 2022 - The New York Times

pallets of green oil barrels stacked

Biden Orders Release from Strategic Petroleum Reserve: What's the Emergency?

The purpose of the Strategic Petroleum Reserve is to maintain oil flow to refineries during national emergencies when oil supplies are disrupted. What national emergency prompted President Biden to order the release of 50 million barrels?

November 29, 2021 - CNBC

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