Oil Prices Hit a Seven-Year High as Industry Feud with Biden Administration Continues

Oil prices hit a 7-year high this week as American oil and gas companies continue to fight the Biden administration over policies restricting production.

As the economy began to reopen this year and the demand for fuel increased, President Joe Biden, through executive order, halted and restricted oil and gas leases on federal lands, stopped construction of the Keystone Pipeline, and redirected U.S. policy to import more oil from Organization of the Petroleum Exporting Countries and Russia (OPEC+) instead of bolstering American oil and gas exploration and production.

Read More

Florida Braces for Booming, Banging Return to July 4th ‘Normal’

fireworks

Independence Day 2020 was a lackluster affair for many, made all the sadder by attempts to celebrate July 4 amid pandemic-induced isolation without the parades, public firework shows and other communal and family gatherings that traditionally accompany the summer holiday.

The city of Miami and others staged “virtual fireworks displays” and at least 60 Florida communities made attempts to stage public events, including socially distanced parades, but with about 80% of traditional observations canceled, July 4, 2020, was nothing to celebrate.

Not so for July 4, 2021.

Read More

Georgia Secures AAA Bond Rating in 2021

Gov. Brian P. Kemp this week announced Georgia has again secured the highest ratings of AAA with a stable outlook from each of the three main credit rating agencies: FitchRatings, Moody’s Investors Service, and S&P Global Ratings. This, according to a press release that members of Kemp’s staff published on his website.

Read More

Cyber Attack Hampers Gas Delivery in Virginia

Tennessee Star

A major pipeline used to deliver gasoline to the eastern U.S. has been shutdown by hackers, leading to higher gas prices and decreased availability in some areas of Virginia. The Colonial Pipeline was targeted by a ransomware cyber attack on Friday, and the company took some systems offline in response, leading to the pipeline shutdown.

Read More

Plummeting Oil Prices Are Not Reflected in California’s Price at the Pump

Tennessee Star

Gas prices are falling all over the country as oil prices tumble, yet prices are still relatively high in California, where environmental polices are restricting how oil refineries can produce gasoline.

The price of a gallon of gas has plummeted in Ohio to around $1 in part because Americans are self-isolating to avoid spreading the novel coronavirus. The average price dropped 35.1 cents over the past month, according to data from the AAA and Oil Price Information Service.

A BP station in Kentucky, for instance, posted a price below $1 a gallon, The Washington Post reported Thursday. Four other stations in Oklahoma City followed suit, along with another in Paris, Tennessee. The national average for gas on Thursday was $2.03, down from $2.41 at the beginning of March.

Read More