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President Biden described the move as a critical step to punishing Russian President Vladimir Putin for invading Ukraine, but said as a result, Americans should prepare for price hikes at the pump.
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The U.S. is still the largest producer of oil, but we're a long way from pumping what we were before the pandemic. Blame backwardation.
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Observers say Russia will likely turn closer to China to make up for supplies of goods and services lost due to sanctions.
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Stocks staged a remarkable recovery after plunging earlier, underlining just how volatile conditions are after Russia invaded Ukraine.
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Chevron, ExxonMobil, BP and Shell used terms like "climate" and "low-carbon" more frequently in recent annual reports, but their actions on clean energy didn't match their words, researchers conclude.
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The ruling revokes leases sold in the Gulf of Mexico in the largest oil and gas lease sale in U.S. history. It says the Interior Department failed to consider the greenhouse gases it would produce.
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The case brought by Baltimore is one of more than 20 similar lawsuits nationwide that seek to hold fossil fuel companies accountable for their role in climate change.
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Gov. Ron DeSantis' proposal would eliminate the state portion of gas taxes, saving motorists about 25 cents a gallon and $200 over 5-6 months.
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President Biden is looking at options to bring down high prices. One possibility attracting a lot of attention is releasing crude oil from the country's emergency reserves.
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Despite pledging to take action on climate change at the international event, the Biden administration says its hands were tied after a federal judge stopped its attempt to pause the leasing program.
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Guyana, one of South America's poorest countries, is under severe threat by rising seas. That had made it a champion of climate action, but it all changed when ExxonMobil found oil off its waters.
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House Oversight Chair Carolyn Maloney, D-N.Y., called the CEOs of four oil companies to appear and answer questions about climate change. She said the companies have spread misinformation for decades.