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The 1973 oil crisis increased gas prices due to boycotts of foreign oil, causing concern at the OPEC meetings.
The 1973 oil crisis increased gas prices due to boycotts of foreign oil, causing concern at the OPEC meetings.
Bloomberg
Biden Says Russia's War Fueled Global Energy Crisis
President Joe Biden says "Russia's war is driving up prices of gas," creating an "immediate problem" that hurts people worldwide, he said. He encouraged world leaders to step up their fight against global warming. He spoke during a...
Bloomberg
How the U.S. Strategic Petroleum Reserve Works
President Joe Biden is using a rarely tapped resource to try and bring down energy prices. Here's how the Strategic Petroleum Reserve works.
Curated Video
Multiple States Temporarily Suspend Gas Taxes As Prices Surge
Governors from six states have also urged Congress to suspend the federal government's 18-cent-a-gallon gas tax through the remainder of this year.
Bloomberg
NEC's Deese Says SPR Use Was a 'Temporary Bridge'
White House National Economic Council Director Brian Deese says tapping the Strategic Petroleum Reserve acted as a "bridge" while US producers ramped up supply. He speaks during an interview with Jonathan Ferro on "Bloomberg The Open."
Press Association
Market analyst expert describes energy cap for businesses as "welcomed news"
Zoom interview with Chief Market Analyst at CMC Michael Hewson, on the Government's new six month energy cap for businesses. Hewson said that the cap is "welcome news" but could result in "higher borrowing costs and a lower pound".
Curated Video
The Economy's Role In President Biden's State Of The Union Address
Given the unique challenges facing the U.S. economy, expect it to be a big topic in President Biden's first State of the Union address.
Curated Video
Gas Prices Are Up Nearly A Dollar From Last Year
The daily U.S. average for gas is now $3.52 a gallon.
Curated Video
State Gas Tax Holiday To Bring Relief At The Pump
Right now, according to AAA, the national average price for a gallon of gasoline is a whopping $4.27.
Curated Video
U.S. Producer Inflation Rose To 8.5% In September
New economic data from the Labor Department will likely lead to another interest rate hike by the Federal Reserve in November.
Curated Video
Both Parties Eyeing N.C. Senate Seat After Sen. Richard Burr Retires
Polls show Democrat Cheri Beasley and Republican Ted Budd are in a dead heat just five weeks ahead of elections in North Carolina.
Curated Video
U.S. Employers Added 678,000 Jobs In February
According to the Labor Department, the unemployment rate dropped from 4% to 3.8%.
Bloomberg
NEC's Deese: US in a Good Position to Address Inflation
"It's clear that inflation is a challenge. It is a global challenge affecting countries around the world," White House National Economic Council Director Brian Deese says during an interview on "Bloomberg The Open."
Bloomberg
Biden Warns Oil, Gas Firms Against Price Gouging
President Joe Biden says the war in Ukraine will cause gasoline prices to rise further and says he will do everything he can to "minimize Putin's price hike."
Bloomberg
Reuss Says GM Is Always Worried About Metal and Commodity Supplies
General Motors Co. President Mark Reuss talks about production of the new Cadillac all-electric Lyriq SUV. It's now being made a GM plant in Tennessee. He also talks about the rising costs of raw materials like nickel that are used to...
Curated Video
President Biden Tapping Oil Reserve For 6 Months To Control Gas Prices
The White House announced it will release 1 million barrels of oil per day from the country's strategic petroleum reserve.
Sky News
Energy providers and customers face price increases in the UK
VOICED: Shows aerials and exterior shots wind turbines turning generating green renewable energy at a wind farm near Bristol in the UK, exterior shots electricity pylons, interviews with Bulb Customer Allison Craig, Chief Executive,...
Curated Video
Russia Cuts Off 2 EU Nations From Its Gas In War Escalation
Russia said it could also halt gas supplies to other European customers.
Curated Video
OPEC+ Makes Big Oil Cut To Boost Prices; Costs At Pump May Rise
President Biden considered the OPEC+ decision "shortsighted" while the global economy is dealing with the negative impacts of the war in Ukraine.
Bloomberg
Deese: White House Disappointed by OPEC Decision
National Economic Council Director Brian Deese says President Joe Biden is disappointed by the "shortsighted" OPEC+ decision to cut oil production by two million barrels a day. Deese calls it unnecessary. He speaks on Bloomberg Television.
Curated Video
Pres. Biden To Release 15M Barrels From Oil Reserve, More Possible
President Joe Biden will open to the door to more oil reserves this winter to keep prices down, while the strategic reserve hits a low.
Bloomberg
Jindal Steel's Sharma on Outlook for Steel Prices
Vidya Rattan Sharma, managing director at Jindal Steel & Power, discusses the impact of Russia's invasion of Ukraine on steel prices. He speaks with Rishaad Salamat and Haslinda Amin on "Bloomberg Markets: Asia."
Curated Video
President Biden Asks Congress To Suspend Gas Tax
The White House estimates suspending both federal and state gas taxes would save drivers, on average, about 50 cents per gallon.
Curated Video
Biden Vows 'Consequences' For Saudis After OPEC+ Cuts Oil Output
The decision by OPEC+ to cut production by 2 million barrels a day has been seen by some as a way to help Russia keep paying for its war in Ukraine.