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Geopolitical risks to US oil supply lowest since the early 1970s. The geopolitical risks to the United States' oil supply are the lowest since the early 1970s, due to fracking, climate action and a more diverse global supply, according to a new paper. America's energy prosperity contrasts with a more fraught period for energy-exporting countries where geopolitical challenges have been compounded by fiscal stress and rising domestic energy demand, the authors said. Source 9w.
The fact that we are still dependent on oil and other nonrenewable fuels is what is killing us energy wise here in the USA. Big oil companies are spending a lot of money to keep people dependent on oil. I would hope that many people wake up and demand that we move on to more renewable energy.
Largest continuous oil and gas resource potential ever. USGS announces an assessment of continuous oil and gas in Texas and New Mexico's Delaware Basin, the largest USGS has ever conducted, with an estimate of 46.3 billion barrels of oil and 281 trillion cubic feet of natural gas. Source 6i.
Biden asks regulators to examine possible 'illegal conduct' by oil and gas companies as prices soar. Biden, facing political pressure as inflation has soared to a 31-year high, requested the probe in a letter to the Federal Trade Commission, claiming "Mounting evidence of anti-consumer behavior." The national average price for a gallon of regular gasoline is $3.41 - $1.29 more than a year ago. Source 4y.
I'm really hoping that gas prices come down specially for next week Thanksgiving celebration with family and relatives.
International Level: Politics 101 / Political Participation: 4 0.4%
Gas prices are now the most expensive in U.S. History, breaking 2008 record. The average price for a regular gallon of gas in the U.S. Is now $4.17, breaking the record of $4.11 set on July 17, 2008, according to AAA. Gas prices continue to drastically rise in wake of Russia’s invasion of Ukraine. As of Tuesday morning, the cost of regular gas in the U.S. Is $4.17, according to AAA, up from $4.06 on Monday. Last week, the average cost was $3.60. Source 3u.
In effort to ease gas prices, Biden wants to expand ethanol blend availability. President Joe Biden will announce Tuesday another step to try to reduce prices for drivers paying more at the pump: expanding the availability of biofuels. While visiting an ethanol plant in Menlo, Iowa, a small farming community west of the state's capital of Des Moines, Biden will announce the administration's plans on allowing gasoline that uses a 15% ethanol blend to be sold during the summer, according to senior officials who spoke on condition of anonymity. Source 2k.