Exxon’s Texas Plant Is Likely the Last Major US Refinery Project
Barbara J. Powell and Chunzi Xu, Bloomberg
When Exxon Mobil Corp.’s newest addition to its southeast Texas refinery ramps up to full production in the next few weeks, it’ll be the first major expansion of US fuel-making capacity in at least a decade. And probably the last.
Major oil project approval intensifies Alaska Natives’ rift
Mark Thiessen and Matthew Brown, The Associated Press
The Biden administration’s approval this week of the biggest oil drilling project in Alaska in decades promises to widen a rift among Alaska Natives, with some saying that oil money can’t counter the damages caused by climate change and others defending the project as economically vital.
G-7 Opposes Lowering Russian Crude Price Cap From $60 a Barrel
Laurence Norman and Andrew Duehren, The Wall Street Journal
European Commission says President Biden warned the EU that Washington has no appetite to cut the price cap.
California regulators could decide oil profits penalty
Adam Beam, The Associated Press
California Gov. Gavin Newsom said Wednesday he wants state regulators to decide whether to impose the nation’s first penalty on oil companies for price gouging, pivoting after months of negotiations with legislative leaders failed to reach an agreement on a bill aimed at reining in the state’s notoriously high gas prices.
Why Gas Bills Are Going Crazy—With No End in Sight
David Uberti and Ryan Dezember, The Wall Street Journal
Supply challenges contributed to the most volatile year on record for natural gas.
U.S. Crude Slips Below $70 a Barrel
David Uberti, The Wall Street Journal
Economic fears and investors’ flight to bonds push oil prices to 15-month lows.