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Environmental groups say the sales conflict with the Biden administration's promises to tackle climate change. Meanwhile, oil and gas groups say the Biden administration overextended the pause and is creating other barriers to development.
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The news did little to appease oil and gas groups clamoring for more favorable drilling conditions or environmental groups frustrated with the pace and scale of the White House’s efforts to transition the United States to renewable energy sources.
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While politicians continue to call for changes in federal policy to spark growth in the oil and gas industry, some analysts say the federal government has less of a role in ramping up oil production than political rhetoric would suggest.
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The Biden administration is encouraging U.S. oil companies to increase their production to help curb record-high gasoline prices. Turns out, however, that boosting output is easier said than done.
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A popular conservative response to calls to boycott Russian oil is to restart the Keystone XL pipeline. But the pipeline company has already moved on and is selling land and other assets.
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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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President Biden is set to announce a U.S. ban on the import of Russian oil because of Russia's invasion of Ukraine.
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Democrat Jon Tester and Republican Steve Daines have joined 18 senators and 2 congressmen in supporting the Ban Russian Energy Imports Act.
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Crude oil prices reached an eight-year high this week, nudging past $100 per barrel Thursday after days of tension leading up to the invasion.