Oil price spikes raise recession threat
That's not to say that production hasn't returned at all. The number of oil and gas rigs for the week ending Friday rose for the ninth time in the last 10 weeks, according to data from oilfield services company. The number of oil rigs now stands at 527, which is the highest since April 2020. However, the number is still sharply below pre-pandemic levels, which had been above 700 rigs.
"That's not good for the consumer. That's also not very good for the industry," noted another conference goer. The national average for a gallon of gas topped $4 on Sunday, and prices have jumped further over the course of the week.Attendees ahead of the 2022 CERAWeek by S&P Global conference in Houston, Texas, U.S., on Sunday, March 6, 2022.
Source: News Formal (newsformal.com)
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Remote work means using more energy: here's how to cut that higher energy billWith more people working from home in a post-pandemic world, here are a few tips to help save energy in a remote work environment. If you want to make $1000 within 12hours of investment with your investment of $100. Inbox Sarah_Blunt3266 for more info When I compare this to not driving 230 miles in stop and go traffic per week in a car and not paying $500/mo for downtown parking, it doesn’t seem like much of an issue. Not really. You just need to tell people to learn how to cook.
Source: FoxBusiness - 🏆 458. / 53 Read more »
Biden a bystander on Ukraine, energy and inflation crisesThe Ukraine crisis may be a story of Russian aggression, but the preamble is the Biden administration’s failure to strengthen America, rally the West, bolster NATO, and deter Vladimir Putin. Biden is a true leader.. one who would never organize an attack on the Capitol of the United States OPEC is exporting 4M barrels of oil LESS a day now then in 2019 because of Trump’s deal with them. America is producing more oil now then in 2019. The Keystone XL would not fix anything. Facts the QGOP won’t tell you. If a Republican had over the spread of a couple months been able to get so much cooperation in sanctioning Russia the RW media would be talking about a Peace Prize for them. Think what Biden has done is easy? It hasn't been done since GH Bush did it in 1990
Source: FoxNews - 🏆 9. / 87 Read more »
Lion Energy Plans Several US Battery FactoriesAmerican Battery Factory is a new company dedicated to building factories to manufacture LFP batteries in America.
Source: cleantechnica - 🏆 565. / 51 Read more »
Op-Ed: Biden Needs to Rapidly Increase U.S. Energy Production to Cut Russia DependenceKevin McCarthy is a Republican from California and minority leader of the U.S. House of Representatives. The United States produces more oil and natural gas than any other country in the world. We are the top exporter of LNG and among the top five oil exporters in the world. As a global energy power, we can provide low energy prices,… Bad faith arguments are all they have...Republicans are a broken party. Wrong.
Source: nbcchicago - 🏆 545. / 51 Read more »
These are Goldman's favorite energy stocks to play the oil surgeWith oil prices elevated as Russia's invasion of Ukraine raises concerns about global supply, Goldman Sachs highlighted its favorite energy stocks.
Source: CNBC - 🏆 12. / 72 Read more »
Neutron Stars Could be the Best way to Measure Dark Energy - Universe TodayNeutron star collisions might be able to prove that dark energy is just an illusion.
Source: universetoday - 🏆 297. / 63 Read more »