Tag: Oil
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Trump’s oil tariffs a boost for European and Asian refiners
U.S. President Donald Trump’s trade tariffs on Canadian and Mexican oil imports will offer European and Asian refineries a competitive advantage against their U.S. rivals, analysts and market participants told Reuters. Trump on Saturday ordered 25% tariffs on Canadian and Mexican imports and 10% on goods from China starting on Tuesday to address a national emergency over fentanyl…
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U.S. electricity demand is set to explode. That will make it harder to cut climate pollution
The United States is poised to burn a lot more natural gas in the coming years to meet soaring electricity demand, potentially locking in decades of emissions that are raising global temperatures. U.S. greenhouse gas emissions barely budged in 2024, despite huge investments the country has made in clean energy under the Inflation Reduction Act, a landmark climate…
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Technology breakthroughs are unlocking geothermal energy’s vast potential in countries across the globe
Largely untapped underground energy source can help meet world’s rapidly growing demand for electricity, but cost reductions are needed to drive new generation of projects With global electricity demand set to grow strongly, new technologies are opening up the massive potential of geothermal energy to provide around-the-clock clean power in almost all countries around the…
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Spain’s inflation surpasses forecasts in December as fuel costs surge
Spain’s inflation climbed to 2.8% in December, surpassing the 2.6% forecast, propelled by rising fuel prices and increased leisure costs. Core inflation reached 2.6%, signalling persistent pressures, particularly in services. Spain closed 2024 with an inflation surprise: consumer prices rose at a higher-than-expected annual rate of 2.8% in December, according to flash estimates from Spain’s…
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What the oil and gas industry wants from Trump and how his administration might deliver it
The oil and gas industry has a “to do” list for President-elect Donald Trump. The lobby group American Petroleum Institute has asked Trump to swiftly authorize liquefied natural gas exports, expand drilling on federal lands, make pipeline permitting easier, repeal strict vehicle emissions and fuel economy standards, and keep current corporate tax rates in place. This five-point road map is…