The Oil And Gas Industry Might Be What’s Keeping Biden’s Economy Humming On Paper Despite ‘regulatory Assault’ | The Daily Caller
'Industry-killing domestic regulations':
Oil and gas production is stubbornly hanging on as a key source of economic growth amid a “regulatory assault” from the Biden administration that seeks to wean the U.S. off of fossil fuels, experts told the Daily Caller News Foundation. Real U.S. gross domestic product (GDP) grew 2.5% in 2023, with the states experiencing the most growth owing largely to their mining sectors, which include oil and gas extraction, according to data from the Bureau of Economic Analysis (BEA).
Iea Says Global Ev Demand 'motoring Along' As Sales Tipped To Be One-in-five In 2024 - Abc News
Amid plans by some automakers to hit the brakes on EV expansion plans, the International Energy Agency says demand is set to surge in 2024.
Orion Hits Copper Paydirt At Okiep But Now Has To Fund Future Developments
Latest high-grade drilling results published by Orion Minerals for its Okiep copper project in the Northern Cape are a big boost both for Orion and for the region as a potential major copper producing area. There are now two copper juniors in the O’kiep/Nababeep area – Orion Minerals and Copper 360 – singing from the […]
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Biden Administration Restricts Oil And Gas Leasing In 13 Million Acres Of Alaska’s Petroleum Reserve
The U.S. oil industry’s top lobbying group says new rules are 'misguided. ':
JUNEAU, Alaska — The Biden administration said Friday it will restrict new oil and gas leasing on 13 million acres of a federal petroleum reserve in Alaska to help protect wildlife such as caribou and polar bears as the Arctic continues to warm. The decision – part of a yearslong fight over whether and how to develop the vast oil resources in the state – finalizes protections first proposed last year as the Democratic administration prepared to approve the contentious Willow oil project.
‘huge Step Back’: Dem Rep Slams Biden Admin For Climate Decision Strangling Oil Industry | The Daily Caller
The administration failed 'to strike a balance':
The Biden administration just announced sweeping moves to limit fossil fuel development in energy-rich Alaska, and Democratic Rep. Mary Peltola isn’t happy about it. The Department of the Interior (DOI) on Friday approved a rule restricting new oil and gas leasing across 13 million acres of federal land in northern Alaska and effectively blocking a road crucial to a large mining project.
Biden Administration Restricts Oil And Gas Leasing In 13 Million Acres Of Alaska's Petroleum Reserve
The Biden administration has finalized rules that would restrict new oil and gas leasing and development in portions of a federal petroleum reserve in Alaska that are considered particularly sensitive as the Arctic continues to warm. The decision finalizes protections for the National Petroleum Reserve-Alaska first proposed last year as the Biden administration prepared to approve the controversial Willow oil project. The approval of Willow drew the fury of environmentalists, who said it flew in the face of President Joe Biden's pledges to combat climate change. A group of Senate Republicans, including Alaska Sens.
Ferrexpo To Ship Ukraine Iron Ore To Japan Again Within 3 Years: Chair - Nikkei Asia
TOKYO -- Swiss-headquartered mining group Ferrexpo will resume exporting iron ore pellets to Japan within the next few years, Executive Chair Lucio Genovese said in a recent interview. Ferrexpo once accounted for as much as 25% of Japanese demand for iron ore pellets, Genovese said. But with Ferrexpo's iron ore operations located in Ukraine, the company halted exports after Black Sea ports were closed during the war.
Industrial Metals Monthly: Why Copper And Iron Ore Prices Are Diverging
Prices of copper and iron ore diverging quickly with copper prices surging above $9,000/t, while iron ore is trading closer to the $100/t level. China’s concerns over the ongoing property crisis have weighed on the iron ore market, while copper benefits from rising demand for electric vehicles (EVs) and renewable energy. While traditional demand drivers, such as property and construction, face headwinds, demand from the green energy sector continues to grow, and iron ore doesn’t benefit from that.
Engro Energy Sells Thermal Assets
Strategic sale to Liberty consortium streamlines capital allocation. :
Engro Energy Limited, a wholly owned subsidiary of Engro Corporation Limited, has entered into a Share Purchase Agreement with Liberty Power Holding (Pvt) Limited and a consortium for the sale of its thermal energy assets portfolio. The consortium comprises Liberty Mills Limited, Soorty Enterprises, and Procon Engineering through Master Group of Industries. The sale of thermal assets is part of Engro’s ongoing efforts to streamline and optimise capital and resource allocation.
Norway's Sovereign Wealth Fund Contemplates Rio Tinto Divestment - Rio Tinto (nyse:rio), Glencore (otc:glncy)
Norway's sovereign wealth fund may divest from Rio Tinto over alleged deforestation in Amazon. Its stake in Rio Tinto is worth $2.15B. read more.