 Energy & Environment |
Energy & Environment |
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Saudi Arabia to maintain oil supply cut through December |
Saudi Arabia will continue its oil supply cuts through the end of the year — which could lead to higher fuel prices. |
© Leon Neal/Pool Photo via AP |
The cut of 1 million barrels per day, which began in July, was announced through the state-run Saudi Press Agency. The cuts are expected to be reviewed each month, and could be increased or decreased, the agency said. Russia, meanwhile, will also extend an oil cut of 300,000 barrels per day, according to state-owned news outlet TASS. Crude oil prices jumped on Tuesday, with international benchmark Brent Crude closing over $90 per barrel for the first time this year. In a written update on oil markets, Rystad Energy's senior vice president of oil market research Jorge Leon, said the impact of these cuts on inflation and economic policy in the West is "hard to predict." However, he said, "higher oil prices will only increase the likelihood of more fiscal tightening, especially in the US, to curtail inflation." Read more in a full report at TheHill.com. |
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. |
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How policy will affect the energy and environment sectors now and in the future: |
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The Biden administration is partnering with six environmental and conservation advocacy groups as it aims to advance conservation in the western U.S., it said Tuesday. |
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| Bill Richardson, the former Democratic governor of New Mexico and Clinton-era U.S. Energy secretary, died Friday at the age of 75. "Governor Richardson passed away peacefully in his sleep last night. He lived his entire life in the service of others — including both his time in government and his subsequent career helping to free people held hostage or wrongfully detained abroad," Mickey Bergman, vice president of The Richardson Center for Global Engagement, told The Hill in a statement. |
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Former President Trump is vowing to end the "madness" of the Biden administration's push for electric vehicles — a likely appeal to voters in the swing state of Michigan. |
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Branch out with a different read on The Hill: |
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A new report by the United Nations found that the global economic cost of invasive alien species exceeded more than $423 billion annually in 2019, noting costs have at least quadrupled in every decade since 1970. |
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News we've flagged from other outlets touching on energy issues, the environment and other topics: |
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St. Louis residents exposed to government testing seek compensation. 'What about us?' (St. Louis Post-Dispatch)
Weapon of choice': How environmental law in Idaho was gutted (Idaho Press) As Colorado River shrinks, California farmers urge 'one-dam solution' (The Los Angeles Times)
The fight over California community solar: 'It's everyone vs. utilities' (Canary Media)
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Two key stories on The Hill right now: |
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Enrique Tarrio, former national chairman of the Proud Boys right-wing group, was on Tuesday sentenced to 22 years in prison after being convicted of spearheading a plot to stop the certification of the 2020 election results, culminating in the Jan. 6 Capitol attack. Read more |
| Rep. Ken Buck (R-Colo.), a member of the conservative House Freedom Caucus, ripped the Colorado GOP's letter about treatment of Jan. 6 defendants, as he broke down the "false claims" that the state’s party outlined. Read more |
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Op-eds related to energy & environment submitted to The Hill: |
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You're all caught up. See you tomorrow! |
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