Big Oil Woos Big Corn To Fight Off Biden EV Push
Big Oil is looking for help from Big Corn to fight President Biden’s clean energy policies and EV mandate. So far, the ethanol folks say they are not interested in lending a hand.
Big Oil is looking for help from Big Corn to fight President Biden’s clean energy policies and EV mandate. So far, the ethanol folks say they are not interested in lending a hand.
Given the US president’s pro fossil fuel behavior, the question is simple: How come he has done major damage to ExxonMobil and Big Oil? I can’t answer that directly, but I can show how severe the damage has been.
These are sad days in the oil patch. US fossil fuel firms eliminated about 105,000 positions — roughly 20 percent of their workforce — between March and June, according to Accenture. BW Research Partnership puts the job losses at 118,000 between March and July.
In a new article by the Houston Chronicle, the author penned his thoughts on how Tesla’s “Texas takeover” would impact oil-dependent Houston.
OPEC is beginning to see the writing on the wall. Demand for oil is declining and may never recover. That’s good news for the Earth.
The oil and gas industry has been in a recession, effectively since the global financial crisis 11 years ago. Each year, production volumes have increased by more than global demand, meaning that the market has been in decline, with lower prices for crude oil and natural gas the natural result.
We should not bail out oil companies. But we probably will since Trump is scrambling to do just that. As we know, the price of oil in the US fell below zero for the first time ever the other day.
Yesterday, the price of oil dropped below the $0 line. For the first time in history, the price was negative. Bloomberg reports that the price reached minus $37.63 per barrel. This means oil companies are paying people to haul oil away because they have so much of it, more is on the way, and they have to make room for the new oil deliveries already en route.
We are approaching the 10th anniversary of the British Petroleum (BP) disaster, which killed 11 men, injured 17 others, and spilled more than 130 million gallons of oil in the Gulf of Mexico.
Recent reports show that political appointees at the Department of the Interior (DOI) ignored experts who opposed issuing a rule rolling back safety measures for offshore oil rig workers.