Biden’s Car Pollution Crackdown to Stamp Out Billions of Barrels of Oil Demand
Jennifer A. Dlouhy and Chunzi Xu, Bloomberg
The Biden administration’s plan to stifle auto pollution and spur electric vehicles is expected to shrink US oil demand by an estimated 17 billion barrels through 2055.
Chevron CEO pay rose 4% to $23.6 million in 2022, employee compensation fell
Sabrina Valle, Reuters
Chevron Corp. CEO Michael Wirth was paid $23.6 million in 2022, a 4% increase from the prior year while the median annual compensation for the oil giant’s employees fell 12%, a securities filing showed on Wednesday.
Natural gas exporters skirt Washington’s scrutiny of China
Ben Lefebvre and Zack Colman, Politico
Lawmakers are eying links between the U.S. and China, but there’s little desire to curb U.S. gas shipments that are expected to help drive the industry’s domestic growth.
Biden’s subdued reaction to OPEC+ cuts foreshadows economic slowdown, carries risk
Jarrett Renshaw and Andrea Shalal, Reuters
When OPEC+ made a surprise decision earlier this month to cut oil production, President Joe Biden responded with the political equivalent of a shrug – a far cry from his declaration that there would be “consequences” for Saudi Arabia, the de facto head of the oil cartel, when it lowered output in October.
Use of ‘forever chemicals’ is widespread in New Mexico drilling operations, report finds
Sharon Udasin, The Hill
Oil and gas companies drilling in New Mexico have been using toxic “forever chemicals” in their extraction processes for the past decade, a new report has found.
The EPA says Americans could save $1 trillion on gas under its auto emissions plan
Camilla Domonoske, NPR News
Americans could stand to save up to $1.1 trillion on gasoline prices should the Environmental Protection Agency’s proposal to impose the toughest-ever auto emissions standards be adopted, the agency projected on Wednesday.
The cap on Russian oil is unlikely to change soon — despite opposing views on whether it’s working
Silvia Amaro, CNBC
The G-7, alongside the European Union and Australia, decided late last year to impose a cap of $60 a barrel on Russian oil in an effort to ratchet up the pressure on Moscow.