Tariffs on Maine’s biggest trading partners are set to go into effect Tuesday.
oil prices
Posted inBusiness, Nation / World, News
Schumer, Democrats urge Justice Department to prosecute alleged oil industry collusion, price-fixing
The Democrats say a recent FTC investigation uncovered evidence of price-fixing by oil executives that led to higher energy costs for American families and businesses.
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Posted inBusiness, Maine, News
Mainers are paying less to heat homes and fill vehicles this winter. Here’s why.
Weak global demand and higher domestic oil production have led to energy savings for consumers so far this winter.
Posted inBusiness, Maine, News
Fifty years ago, the energy crisis officially began. And it hasn’t ended.
An attack in the Mideast led to an oil embargo in the West, and Mainers learned just how precarious their energy situation could be. The repercussions remain.
Posted inBusiness, Nation / World
Saudi Arabia extends cut of 1 million barrels of oil a day, potentially boosting prices at the pump
A series of production cuts over the past year has failed to substantially boost prices amid weakened demand from China and tighter monetary policy aimed at combatting inflation.
Posted inBusiness, Nation / World, News
Surging oil prices could again frustrate inflation fight
Saudi Arabia and other leading oil producers will slash output by more than 1 million barrels a day starting in May.
Posted inBusiness, Nation / World, News
Biden approves major oil drilling project in Alaska over protests
The administration, in a move in the other direction toward conservation, earlier said it would bar or limit drilling in some other areas of Alaska and the Arctic Ocean.
Posted inBusiness, Nation / World, News
Russia to cut oil production in retaliatory move that pushes prices up
The Kremlin is retaliating against a price cap imposed on its oil by the West. Oil prices edged up as a result.
Posted inBusiness, Maine, News
Even before winter’s arrival, Mainers are relying on heating assistance
The cost of heating oil is far more expensive than last season, but the Maine State Housing Authority has less money than it did last winter and more families to assist.
Posted inOp-Eds
New oil, gas recovery techniques aid diplomacy
Sophisticated American and Canadian energy industries have given the Free World an economic boost and a powerful diplomatic weapon. The North American “fracking” revolution — hydraulic fracturing to tap vast reservoirs of “tight” natural gas and oil — has altered the world’s strategic calculus. U.S. and Canadian firms began experimenting with advanced oil and gas […]