From 2022 through 2030, the investment tax credit rates would be set at 60% for investment in equipment for direct air capture projects, 50% for equipment in all other carbon capture projects, and 37.5% for transportation, storage and use. Carbon capture projects permanently store carbon dioxide emissions before they are released into the atmosphere. With […]
Last week crude stockpiles in one of the biggest oil consumers in the world plunged to the lowest since 2018, with inventories at a key storage hub falling toward critical levels. markets has vaulted oil and retail fuel prices to levels not seen since 2014 – a key source of concern for consuming nations due […]
Prices soared to new records this week because of the impact of unexpected nuclear outages in France and worryingly low stockpiles across the continent. Buyers and sellers are now high alert for signs of cold that would send prices into total meltdown. Omicron will likely be dominant across Europe by mid-January and that could lead […]
The White House announced on Tuesday a release of 50 million barrels from its reserves in coordination with the U.S., China, Japan, India, the U.K., and South Korea. “A tiny headline build, an expected production rebound, and as the U.S. Prior to the announcement, the alliance said a release is unjustified by current market conditions […]
Biden’s next move has been a key topic in Abu Dhabi, where some of the world’s biggest oil and gas companies and many energy ministers are attending the Adipec conference. The four-day gathering that started Monday is taking place in the wake of the COP26 climate talks and with energy prices soaring. Abu Dhabi’s Murban […]
Biden faces increased pressure from members of his own party to release oil from the Strategic Peroleum Reserve to quell rising gasoline prices. The group has been adding 400,000 barrels a day of production each month on paper, although its members have failed to pump that much in practice so far. expanded its booster shot […]
