FILE - In this April 24, 2015, file photo, pumpjacks work in a field near Lovington, N.M. An Indigenous leader from New Mexico and former U.S. Interior Secretary Bruce Babbitt called on the federal government Tuesday, Aug. 24, 2021, to overhaul its oil and gas leasing program to ensure protection of cultural resources, saying for far too long tribal knowledge and expertise has been ignored to the detriment of the landscapes such as those surrounding Bears Ears National Monument and Chaco Culture National Historical Park. (AP Photo/Charlie Riedel, File)
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Energy & Environment
Energy & Environment
The Big Story
OPEC+ nations extend oil supply cuts
Major oil-producing nations extended previously announced oil supply cuts through the end of 2025.
The group of countries, known as OPEC+, said Sunday it would extend voluntary supply cuts announced in April until the end of 2025. It also extended further cuts, announced in November, through September of this year.
The extended cuts are expected to exert upward pressure on oil prices in the months ahead, though they will not be the only factor that has influence.
Any increases in oil and gasoline prices are expected to hurt President Biden’s campaign, regardless of whether they are tied to actions by the Biden administration.
The oil-producing countries said that in September, they will begin phasing out the 2.2 million barrels per day cut on a monthly basis until the end of September 2025.
Despite the extended cuts, prices for international benchmark brent crude oil were relatively low on Monday, falling below $80 per barrel for the first time in several months.
Welcome to The Hill’s Energy & Environment newsletter, we’re Rachel Frazin and Zack Budryk — keeping you up to speed on the policies impacting everything from oil and gas to new supply chains.
California’s largest wildfire to date this season — kindled on Saturday adjacent to an explosives- and materials-testing facility — has been 75 percent contained, Cal Fire announced Monday.
Mexican President-elect Claudia Sheinbaum, the nation’s first woman president and first Jewish president, has a background in environmental policy that includes work for the Nobel-winning United Nations Intergovernmental Panel on Climate Change (IPCC).
(NEXSTAR) — One of the largest cities in the South has dethroned an urban East Coast area to become the nation’s “dirtiest” city, according to a recent study.
The Senate Energy & Natural Resources Committee will hold a business meeting Tuesdayto consider the nominations of David Rosner, Lindsay S. See and Judy W. Chang, to be members of the Federal Energy Regulatory Commission.
What We’re Reading
News we’ve flagged from other outlets touching on energy issues, the environment and other topics:
Indigenous nations approve historic water rights agreement with Arizona. It now goes to Congress (The Los Angeles Times)
Trump suggests to oil donors he will fast-track their merger deals (The Washington Post)
Rep. Marjorie Taylor Greene (R-Ga.) was reprimanded by Rep. Brad Wenstrup (R-Ohio), the chair of the House Oversight and Accountability Select Subcommittee on the Coronavirus Pandemic, for refusing to recognize Anthony Fauci as a doctor while questioning him. Read more
Former President Trump on Sunday called on the Supreme Court to act ahead of his July sentencing after he was found guilty on 34 felony counts in his New York City hush money trial last week. Read more
Opinions in The Hill
Op-ed related to energy & environment submitted to The Hill:
