gas prices

EPA issues waiver for sales of 15 percent ethanol blend during summer driving season

BY: - May 3, 2022

WASHINGTON — The EPA issued a fuel waiver Friday afternoon to allow for a heightened ethanol gasoline blend to be sold at service stations this summer, an attempt by the Biden administration to lower soaring fuel prices. In a letter to Minnesota Gov. Tim Walz, EPA administrator Michael S. Regan wrote that the waiver will allow gas stations to sell […]

Democratic leaders in Congress want more power for regulators over high gasoline prices

BY: - May 2, 2022

WASHINGTON —  Democratic leaders in Congress critical of soaring gasoline prices say they will push legislation to allow the U.S. Federal Trade Commission and state attorneys general to go after oil companies that engage in price gouging in times of crisis. “Big oil has profited in this (and) has exploited the market,” House Speaker Nancy […]

U.S. House panel grills oil executives on soaring gas prices

BY: - April 7, 2022

Democrats blamed the oil industry, Republicans blamed President Joe Biden and oil executives blamed global market forces at a U.S. House hearing Wednesday on how to reverse a dramatic increase in gas prices. Over nearly six hours, members of the House Energy and Commerce Subcommittee on Oversight and Investigations and executives from six oil companies […]

Biden OKs release of 1 million barrels of oil a day from reserve, calls for supply boost

BY: - April 1, 2022

President Joe Biden called Thursday for U.S. energy companies to do their part in lowering gasoline prices by boosting supplies of oil, saying the industry should plow record profits back into increased production. Biden also said he would release 1 million barrels of oil from the Strategic Petroleum Reserve daily for the next six months […]

COMMENTARY

Partisan policies didn’t raise gas prices, and partisan sniping won’t lower them

BY: - March 14, 2022

In 2020 the price of oil crashed, even falling to less than zero one day. Traders actually had to pay buyers to get them to take oil contracts off their hands. Oil companies would prefer not to sell oil unless they can make money off it. Oil companies are just funny that way. So U.S. […]

U.S. Senate Republicans attack Biden on energy costs, regulations after new inflation report

BY: - March 11, 2022

Nebraska’s Deb Fischer and fellow U.S. Senate Republicans slammed President Joe Biden on Thursday for the sharp rise in consumer prices, calling for policy shifts to increase U.S. energy supply, roll back regulations and curb spending. The Bureau of Labor Statistics said Thursday the consumer price index rose nearly 8% in February over the same month in […]

How Russia’s invasion of Ukraine impacts Ohio’s gas prices

BY: - March 9, 2022

The following article was originally published on News5Cleveland.com and is published in the Ohio Capital Journal under a content-sharing agreement. Unlike other OCJ articles, it is not available for free republication by other news outlets as it is owned by WEWS in Cleveland. Ohioans have seen it at the pumps, but they’ve definitely felt it […]

Biden OKs release of 30 million barrels of oil from Strategic Petroleum Reserve

BY: - March 2, 2022

President Joe Biden authorized on Tuesday the release of 30 million barrels of oil from the Strategic Petroleum Reserve, part of an international boost to the global oil supply that has been disrupted by Russia’s invasion of Ukraine. The reserve is a complex of four sites with deep underground storage caverns in salt domes along the […]

COMMENTARY

US cost of defending freedom in Ukraine: Higher food and gas prices, increased risk of recession

BY: - February 25, 2022

Americans may be tempted to view the war in Ukraine as an unfortunate, but far away, crisis. As an economist, I know the world is too connected for the U.S. to go unaffected. On Feb. 22, 2022, President Joe Biden warned Americans that a Russian invasion of Ukraine – and U.S. efforts to thwart or […]

Biden warns of U.S. energy price spikes if Russia invades Ukraine

BY: and - February 17, 2022

WASHINGTON — American service members will not deploy to Ukraine in the event of a “distinctly possible” Russian invasion, but strong economic sanctions imposed by the United States and its allies could reverberate and prompt energy price spikes, President Joe Biden said in a live address from the White House Tuesday. Biden urged Russian President […]

Biden opens oil reserve to relieve high gas prices — but it won’t be immediate

BY: - November 25, 2021

As gasoline prices spiral ahead of the big holiday travel season, President Joe Biden authorized the release of a record 50 million barrels of oil from the Strategic Petroleum Reserve Tuesday — complicating his administration’s goal to transition to cleaner energy sources. In prepared remarks, Biden said he coordinated the release from the reserve, a complex […]