Launching one of the most prominent climate lawsuits in the nation, the state claims Exxon, Shell, BP and others misled the public and seeks creation of a special fund to pay for recovery.
Category: Oil (Petroleum) and Gasoline
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Rising Gas Prices Provide Fodder for Republican Criticism of Biden
An expected jump in the latest inflation reading will almost certainly provoke broadsides from Republicans who hammered Mr. Biden over high gas prices throughout last summer.
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BP’s Chief, Bernard Looney, Resigns Over Relationships
Mr. Looney, a longtime BP employee who was named chief executive in 2020, agreed to step down immediately, the board said.
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$100 Oil? What a Price Spike Could Mean for the Global Economy
Analysts see Brent crude climbing to levels last seen in the first months of the Ukraine war after Saudi Arabia and Russia extended production cuts.
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Oil Prices Jump on Extension of Production Cuts by Saudi Arabia and Russia
The move reflected renewed efforts by the two major exporters to bolster the price of crude.
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Investors Feel Anxious Despite Falling Odds of a Recession
Some economists are playing down the chances of an economic downturn. But investors and voters aren’t feeling nearly as optimistic.
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Will Inflation Keep Slowing? The Key Areas to Watch
Will inflation continue to slow at a solid pace? Economists are warily watching a few key areas, like housing and cars.
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Florida Officials Warn of Fuel Contamination as Idalia Approaches
The contamination, which officials said resulted from the accidental mixing of diesel and gasoline, comes as Gulf Coast residents face potential evacuation orders.
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Tanker in Yemen Is Emptied of Oil, Averting Catastrophic Spill
More than a million barrels of oil on a tanker off the coast of Yemen were transferred to another ship bought by the United Nations. But now a new hurdle looms: Who owns the recovered oil?
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Why the Fed Might not Be Done Raising Rates
Volatile energy prices could put new pressures on the economy, despite some cautious optimism after the latest inflation data.
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Inflation Picks Up, but Details Under the Surface Are Encouraging
Economists looked past the first acceleration in overall inflation in more than a year and saw signs that price pressures continued to moderate in July.
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Saudi Aramco Reports $30 Billion in Profit for Latest Quarter
It was a steep fall from last year’s record profit, but still enough for the company to introduce additional dividend payments and increase capital investment.