Biden asks companies "setting those gas prices" to lower them. Can they?

Jun 23, 2022
Gas stations are usually separate from the big oil conglomerates whose names they carry. Owners are often individuals with some control over what you pay at their pumps — but not much.
Most gas stations are owned by individuals who pay to use the oil company's name.
Frederic J. Brown/AFP via Getty Images

Could reopening idled oil refineries ease gasoline prices?

May 30, 2022
The idea is drawing attention, but analysts disagree on whether White House pressure on the industry would work.
The Biden administration is reportedly asking oil companies to bring shuttered refineries back online.
Brandon Bell/Getty Images

Energy stocks are now the belle of the Wall Street ball

May 24, 2022
Energy investors have profited as prices climbed. But companies hesitate to boost production, even though costs weigh on consumers.
The sun rises behind an oil storage facility in Cushing, Oklahoma. High energy prices raise costs across the economy.
Johannes Eisele/AFP via Getty Images

Mexico turns back the clock on oil reforms, closes down foreign investment

May 24, 2022
The changes mean that Mexico can't drill for as much oil, just as the world is seeking alternate sources to Russian oil because of the war in Ukraine.
Aerial view of the Mexican oil company PEMEX oil complex in Azcapotzalco, on the outskirts of Mexico City.
PEDRO PARDO/AFP via Getty Images

U.S. oil refiners' margins smash records, but few plan to build more plants

May 23, 2022
"Crack spreads" are higher than ever. But investors aren't interested in dumping money into fossil fuel expansion.
A "COVID hangover" is keeping the price of gas high, one expert says.
Brandon Bell/Getty Images

Rising oil prices fuel a windfall for the industry

Apr 29, 2022
Outsize profits and stock buybacks are inviting more scrutiny from policymakers and environmental advocates.
Exxon Mobil reported quarterly profits of $5.5 billion and plans significant stock buybacks. Above, prices at a Southern California gas station in 2008.
David McNew/Getty Images

What does the current energy crisis mean for the clean energy transition?

Apr 28, 2022
The war in Ukraine is forcing the U.S. to reconsider its dependence on oil.
"We have seen this scenario time and time again, where oil is proving to be an unstable factor in our economy," said Mark Brownstein at the Environmental Defense Fund. "And now we have the opportunity to move to a different future."
David McNew/Getty Images

For public good, not for profit.

Biden administration restarts oil and gas leases on federal lands

Apr 18, 2022
The move shows the president is trying to bring down prices, but he also appears to be going back on his word to curb oil and gas production.
It may take six months to a year before any oil is produced from new leases on federal lands. Above, pump jacks in California.
Robyn Beck/AFP via Getty Images

Even if we manage to stop using oil as fuel, plastics made from oil will be harder to give up

Mar 24, 2022
Plastics are regarded as "Plan B" for the fossil fuel industry.
It's cheaper to make more plastic than recycle it. And that's what the oil industry is relying on as we move toward electric options.
Phillippe Lopez/AFP Getty Images

Oil prices soared, then dropped. But gasoline is still expensive. Why?

Mar 15, 2022
A barrel of crude topped $130 last week and now sells for less than $100. Gas prices follow oil quickly on the way up, slowly on the way down.
Though the cost of a barrel of oil has dipped back below $100, consumers aren't feeling much relief at the gas pump yet.
Jim Watson/AFP via Getty Images