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Global leaders call for action against fossil fuels
Various leaders from countries around the world are speaking out against the continued use of fossil fuels, citing it as the culprit behind climate change and an increase in extreme weather events.
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EU ban on Russian oil imports comes into force, as West steps up measures against Moscow
The EU and G7 countries have also expanded the existing price cap on Russian crude oil to include all refined products.
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US Gas & Oil Prices Fall
U.S. gas prices have dropped 16 cents in the past week and 44 cents in a month, driven largely by lower oil prices.
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Following G7 plan, EU countries agree to cap Russian oil at $60 per barrel
EU ambassadors spent the last few days debating the level of the price cap, which will have implications across global markets.
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Russian oil price cap not meant to disrupt international markets, says Timmermans
An EU ban on oil imports from Moscow also came into effect on Monday.
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'Russia will lose the energy battle,' says IEA chief Fatih Birol
Europe was by far Russia's largest market and client and "Russia lost this client forever", the International Energy Agency chief said in an interview with Euronews.
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Climate activists cover wax figure of King Charles in cake
Two climate activists smeared chocolate cake on the wax model of King Charles at Madame Tussauds in London. Similar 'Just Stop Oil' acts have targeted works of art to protest against fossil fuel use.
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Former House Speaker Paul Ryan Talks SPAC Deal, Midterms
Former Speaker of the House Paul Ryan and Granite Ridge CEO Luke Bradenberg joined Cheddar News to discuss their SPAC deal, the U.S. becoming energy independent and Ryan's outlook for the midterm elections.
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Trump Deposed, Biden Releases Oil Reserves: What You Need2Know Thursday, Oct. 20
Here's what you Need2Know for Thursday, Oct. 20, 2022.
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Gas Prices Could Fall Back Under $3 Per Gallon
Patrick DeHaan, the head of petroleum analysis at GasBuddy, joined Cheddar News to discuss how soon a price drop for gas is expected to arrive. "Prices could go below the $3 per gallon mark, and I do think that, of course, it is subject...
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EU pushes back against claims Russian oil ban is hiking prices
The EU ban will not be completed until the end of the year, so its economic effects are still unclear.
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EU urges countries to cut gas use by 15% until next March
The European Union proposed a voluntary target for member states to cut gas use by 15 per cent until March to prepare for potential further gas cuts from Russia. It said a full Russian cut-off during an average winter could reduce...
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Alberta premier in Washington makes case for Alberta oil
Alberta Premier Jason Kenney said he found the U.S. focus on OPEC oil production 'inexplicable,' in this friendly exchange during a Senate hearing on U.S. petroleum and mineral needs.
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Brussels proposes to stop Russian oil imports by the end of the year
EU chief Ursula Von der Leyen has unveiled a proposal that would give EU countries until the end of the year to phase out imports of Russian oil.
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Keystone not worth 're-litigating' as allies work to free themselves from Russian oil, says State Dept. official
Under Secretary of State Victoria Nuland tells Power & Politics that restarting the Keystone XL pipeline project would not be a productive way to help Europe end its dependence on Russian oil and gas.
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Any EU country could be next victim of Russian energy cuts, says commissioner
The European Commission is due to publish proposals on a potential Russian oil embargo, following a meeting of energy ministers in Brussels.
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Explained: Just how dependent is the EU on Russian oil?
The bloc gets over 25% of its oil from Russia through a vast network of ports and pipelines.
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BP Takes a Hit After Russia Invasion but Still Manages Big Quarterly Profits
BP was among the first to cut ties with Russia just 96 hours after the invasion of Ukraine, facing a financial hit of $20.4 billion. However, its underlying replacement cost profit, an industry standard, showed a quarterly profit of $6.2...
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Ottawa approves Bay du Nord offshore oil project
Federal Environment Minister Steven Guilbeault formally approved the Bay du Nord offshore oil megaproject, a decision that infuriated environmentalists but promises to boost the Newfoundland and Labrador economy.
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What Biden's Ban on Russian Oil Imports Could Mean for Growing Energy Costs
As Russia intensifies its war on Ukraine, President Biden announced a ban on oil imported from the aggressor nation. Critics of Russia have said this would be the best way to force Putin to pull back, but curbs on Russian oil exports are...
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Ukraine uncertainty bad for oil long term, money manager says
Barry Schwartz, chief investment officer at Baskin Wealth Management, says an escalation of the Russian invasion into Ukraine will slow economies around the world and potentially bring down the price of oil. (Photo Credit: John Woods/THE...
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Gas Prices to Rise in 2022 amid Soaring Demand, Omicron Spread
Prices at the pump this year reached a seven-year high, and a new forecast from GasBuddy shared with CNN predicts that gas prices will only continue to rise in 2022 and that the national average could even reach $4.00 a gallon; however,...
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Oil Price Crisis Could Lead to Speedier Push Toward Clean Energy Transition
As gas prices surge amid the Russian invasion of Ukraine, other nations could potentially transition faster to using clean energy than previously expected. Philip K. Verleger, a senior fellow at the Niskanen Center, joined Cheddar News...
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Biden Orders U.S. to Tap Emergency Oil Reserves
President Joe Biden announced that the U.S. will tap into its strategic oil reserve in coordination with other nations and release 50 million barrels in an effort to lower energy prices.