State taxes and fees on gasoline and diesel fuel as of the start of 2025 have averaged $0.33 per gallon (gal) of gasoline and $0.35/gal of diesel fuel, according to a Feb. 21 report published by the U.S. Energy Information Administration. Average taxes on diesel and gasoline have remained largely flat, rising by less than…...
President Donald Trump on Feb. 14 signed an executive order establishing a council to guide the U.S. towards energy dominance. The National Energy Dominance Council is tasked with providing advice on how best to exercise the President’s authority to increase domestic energy production, including recommending a strategy with long-range goals for achieving energy dominance by…...
U.S. Energy Secretary Chris Wright signed an order, directing the U.S. Department of Energy to take actions to advance President Trump’s energy agenda. The department outlined a number of actions to implement President Trump’s executive orders including expanding energy production, advancing energy innovation, enabling next generation nuclear power technology, and strengthening grid reliability. As part…...
Oil and coal were utilized in the electricity generation mix in New England, due to curtailed generation from natural gas fired power plants from January 18 to January 22, 2025 according to a Feb. 5 report published by the U.S. Energy Information Administration. Below seasonal normal temperatures in the eastern U.S. during the week of…...
U.S. average retail gasoline prices during 2025 are estimated to decline by 11 cents per gallon (gal), or three percent compared to 2024, and a further 18 cents/gal, or six percent during 2025, according to an Jan. 22 report published by the U.S. Energy Information Administration. The price decrease over the next two years can…...
Brent crude oil prices are expected to decline from an average of $81 per barrel (b) during 2024 to $74/b in 2025 and $66/b in 2026, according to an Jan. 21 report published by the U.S. Energy Information Administration. The agency’s price decline expectations can be attributed to slower demand growth and robust global growth…...
U.S. President Donald Trump issued a series of executive actions on Jan. 20, declaring a national energy emergency, initiating fossil fuel expansion, and withdrawing the U.S. from the Paris Climate Agreement. These actions represent a sharp departure from former President Biden’s renewable energy and climate-focused policies. The declaration of a national energy emergency seeks to…...
Brent crude oil prices averaged $81 per barrel (b) during 2024, largely similar to the U.S. Energy Information Administration forecast of $82/b made during January 2024, according to a Jan. 17 report published by the agency. During January 2024, the agency forecasted that market supply and demand fundamentals would be largely balanced during the year,…...
The U.S. Interior Department on Jan.16 released final guidance on the procedure for states to apply for up to $40 million each in Regulatory Improvement Grant funding accessible under the 2021 Infrastructure Investment and Jobs Act, or IIJA, to clean up unsafe and polluting orphaned wells and create jobs across the nation. Through the IIJA,…...
The U.S. Interior Department on Jan. 10 announced a $15.89 million investment to help three Tribal Nations and the State of Alabama clean up orphaned oil and gas wells. The funding is part of the Biden Administration’s Investing in America agenda and builds on previously announced funding of the $69 million in Tribal grants and…...
The U.S. Interior Department on Jan. 8 announced that the Bureau of Land Management received zero bids for the government authorized oil and gas lease sale for the Coastal Plain of the Arctic National Wildlife Refuge (Arctic Refuge), following the bid submission deadline of Jan. 6. The 2017 Tax Cuts and Jobs Act directed the…...
The Biden-Harris administration released memoranda on Jan. 6 withdrawing more than 625 million acres of the U.S. ocean from offshore drilling. The action prohibits future oil and natural gas leasing in three ocean and coastal regions: the eastern U.S. Atlantic coast and Eastern Gulf of Mexico; Pacific Coast along California, Oregon, and Washington; and the…...
