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Home Oil Prices Rig Count Energy Energy-General Oil Prices Crude Oil Heating Oil Gas Prices Natural Gas Coal Company News Interviews Alternative Energy Nuclear Power Solar Energy Hydroelectric Renewable Energy Geothermal Energy Wind Power Fuel Cells Tidal Energy Biofuels Environment Global Warming Oil Spills Geopolitics Africa Asia Europe Indonesia International Middle East North America South America Video Breaking News Premium Articles Community Trade Now My Account Latest Discussions Energy General Oil Stocks & Prices Other Energy Topics Trade Now Get Exclusive Intel All Prices OPEC Blends Canadian Blends U.S. Blends WTI Crude • 30 mins 109.9 +0.35 +0.32% Brent Crude • 10 mins 113.9 +0.80 +0.71% Murban Crude • 5 hours 113.4 +0.86 +0.76% Natural Gas • 10 mins 6.698 -0.246 -3.54% Gasoline • 14 mins 3.827 +0.034 +0.89% Louisiana Light • 4 days 118.3 -1.86 -1.55% Start Trading CFDs Over 2,200 Different Instruments Click Here for 150+ Global Oil Prices Louisiana Light • 4 days 118.3 -1.86 -1.55% Bonny Light • 3 days 119.3 -3.77 -3.06% Opec Basket • 4 days 119.2 -4.49 -3.63% Mars US • 1 min 102.8 -7.98 -7.20% Gasoline • 14 mins 3.827 +0.034 +0.89% Click Here for 150+ Global Oil Prices

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Marine • 3 days 116.0 +1.13 +0.98% Murban • 3 days 119.6 +1.35 +1.14% Iran Heavy • 3 days 111.0 -3.76 -3.28% Basra Light • 202 days 71.69 -3.60 -4.78% Saharan Blend • 3 days 118.4 -3.79 -3.10% Bonny Light • 3 days 119.3 -3.77 -3.06% Start Trading CFDs Over 2,200 Different Instruments Click Here for 150+ Global Oil Prices Bonny Light • 3 days 119.3 -3.77 -3.06% Girassol • 3 days 117.5 -3.76 -3.10% Opec Basket • 4 days 119.2 -4.49 -3.63% Click Here for 150+ Global Oil Prices

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Canadian Crude Index • 11 days 98.12 -0.75 -0.76% Western Canadian Select • 3 days 101.2 -0.06 -0.06% Canadian Condensate • 3 days 117.4 -0.06 -0.05% Premium Synthetic • 3 days 115.7 -0.06 -0.05% Sweet Crude • 3 days 113.6 -0.06 -0.05% Peace Sour • 3 days 110.7 -0.06 -0.05% Start Trading CFDs Over 2,200 Different Instruments Click Here for 150+ Global Oil Prices Peace Sour • 3 days 110.7 -0.06 -0.05% Light Sour Blend • 3 days 112.8 -0.06 -0.05% Syncrude Sweet Premium • 3 days 116.4 -0.06 -0.05% Central Alberta • 3 days 111.0 -0.06 -0.05% Click Here for 150+ Global Oil Prices

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Louisiana Light • 4 days 118.3 -1.86 -1.55% Domestic Swt. @ Cushing • 3 days 106.0 -8.00 -7.02% Giddings • 3 days 99.75 -8.00 -7.42% ANS West Coast • 5 days 121.9 -2.23 -1.80% West Texas Sour • 3 days 103.5 -8.03 -7.20% Eagle Ford • 3 days 107.5 -8.03 -6.95% Start Trading CFDs Over 2,200 Different Instruments Click Here for 150+ Global Oil Prices Eagle Ford • 3 days 107.5 -8.03 -6.95% Oklahoma Sweet • 3 days 106.0 -8.00 -7.02% Kansas Common • 3 days 99.75 -8.00 -7.42% Buena Vista • 3 days 115.5 -9.02 -7.25% Click Here for 150+ Global Oil Prices

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1D 1M 3M 1Y All Charts Products Discussion Headlines 1 min Ecuador Halts All OIl Operations Amid Escalating Protests 1 hour Iraq Wants To Buy Exxon’s Stake In Key Oil Field 2 hours Yellen: Government Policies On Energy Not To Blame For Sky-High Prices 3 days OPEC+ Mulls What To Do After The Oil Pact Ends 3 days Freeport LNG Extends Force Majeure Until September 3 days Italy May Declare State Of Alert If Russian Gas Cuts Persist 3 days Musk Slammed With $258 Billion Lawsuit Over Crypto Posts 3 days Kurdistan Looks To Set Up Own Oil Firms Amid Legal Struggle With Baghdad 3 days China Looks To Invest In World’s Largest Offshore Gas Project 3 days G7 Could Discuss Price Cap On Imports Of Russian Energy 3 days U.S. Increases Heavy Crude Imports 4 days With No Nuclear Deal In Sight, U.S. Slaps Extra Sanctions On Iran 4 days OPEC+ Is 2.7 Million Bpd Below Oil Production Target 4 days Europe Follows U.S. Fed With Record-Breaking Rate Hikes 4 days Gazprom Lowers Gas Flows To Italy Even More 4 days Russia Says It May Cooperate With OPEC+ Deal Even After 2022 4 days Energy Secretary To Discuss High Gas Prices With Refining Executives 4 days Zelensky Calls For Seventh EU Sanctions Package Against Russia 4 days Novak: Russia Is Raising Oil Production 4 days Russia’s Largest Gas Field On Fire After Pipe Bursts 4 days “They’re Afraid Prices Will Skyrocket” U.S. Fears EU Tanker Insurance Ban 4 days Exxon Hits Back At Biden After Investment Accusations 5 days U.S. Natural Gas Rises Over 4.5% Amid Pre-Summer Heat Wave 5 days Oil Prices Fall On Biggest Fed Rate Hike Since 1994 5 days IEA: Fuel Crunch To Persist Despite Solid Refining Recovery 5 days Total Energies Is Betting Big On Green Hydrogen In India 5 days Saudi Aramco May Merge Trading Units Ahead Of IPO 5 days Lockdowns Lead To Major Decline in China’s Refining Output 5 days Biden Threatens Oil Firms: Increase Gasoline Production, Lower Prices 5 days Crude Prices Unmoved By Small Crude Build As Gasoline Inventories Drop 5 days Republican States Want Large Offshore Lease Sale Restored 5 days Germany Lends $10 Billion To Save Ex Gazprom Unit And Ensure Supply Security 5 days Top U.S. Senator Proposes Higher Taxes For Oil Companies 6 days Oil Prices Unmoved After API Reports Small Crude Build 6 days Freeport LNG Not Expected To Resume Full Operations Until Late 2022 6 days Europe Imports Record LNG Volumes 6 days Germany Scrambles To Take Control Of Russia-Owned Refinery 6 days Oil Billionaire Harold Hamm Proposes To Take Continental Resources Private 6 days Strong Demand Pushes LNG Tanker Rates Through The Roof 6 days Japanese Refiner To Cut Capacity: Report 3 minutes “ESG Investing Is Heading for a Reckoning, Says One Veteran Manager” – Bloomberg 8 minutes How Far Have We Really Gotten With Alternative Energy 12 minutes  What Russia has reached over three months diplomatic and military pressure on West ? 9 hours GREEN NEW DEAL = BLIZZARD OF LIES 21 hours The Federal Reserve and Money…Aspects which are not widely known 1 day “And this is perhaps the most dangerous kind of government there can be.” 2 days Demonising fossil fuels has caused major grid problem in Australia 5 days Famous author Michael Crichton talks about the “Climate Change Religion” aka Feudalism 2.0 2 days Welcome to TechnocracyThe New World Energy Order… “1000s Of Sydney Homes Plunged Into Darkness As Aussie ‘Price Cap’ Policy Sparks Energy Shortage” 6 days Apple to Bypass Internet and Beam Directly to Phones 5 hours ESG Topic – “German Police Raid Deutsche Bank, DWS Over Allegations Of Greenwashing” – ZeroHedge Bloomberg and others Sell Buy Sell Buy Sell Buy Sell Buy Sell Buy Breaking News: Ecuador Halts All OIl Operations Amid Escalating Protests

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Share Facebook Twitter Linkedin Reddit Related News Kurdistan Looks To Set Up Own Oil Firms Amid Legal Struggle With Baghdad China Looks To Invest In World’s Largest Offshore Gas Project G7 Could Discuss Price Cap On Imports Of Russian Energy U.S. Increases Heavy Crude Imports With No Nuclear Deal In Sight, U.S. Slaps Extra Sanctions On Iran Iraq Wants To Buy Exxon’s Stake In Key Oil Field By Irina Slav – Jun 20, 2022, 10:30 AM CDT Moving to renewable energy is the way to reduce the energy costs of households, Treasury Secretary Janet Yellen told ABC’s George Stephanopoulos this weekend, adding that federal government policies on energy were not to blame for the current price situation

Home Oil Prices Rig Count Energy Energy-General Oil Prices Crude Oil Heating Oil Gas Prices Natural Gas Coal Company News Interviews Alternative Energy Nuclear Power Solar Energy Hydroelectric Renewable Energy Geothermal Energy Wind Power Fuel Cells Tidal Energy Biofuels Environment Global Warming Oil Spills Geopolitics Africa Asia Europe Indonesia International Middle East North America South America Video Breaking News Premium Articles Community Trade Now My Account Latest Discussions Energy General Oil Stocks & Prices Other Energy Topics Trade Now Get Exclusive Intel All Prices OPEC Blends Canadian Blends U.S. Blends WTI Crude • 30 mins 109.9 +0.35 +0.32% Brent Crude • 10 mins 113.9 +0.80 +0.71% Murban Crude • 5 hours 113.4 +0.86 +0.76% Natural Gas • 10 mins 6.698 -0.246 -3.54% Gasoline • 14 mins 3.827 +0.034 +0.89% Louisiana Light • 4 days 118.3 -1.86 -1.55% Start Trading CFDs Over 2,200 Different Instruments Click Here for 150+ Global Oil Prices Louisiana Light • 4 days 118.3 -1.86 -1.55% Bonny Light • 3 days 119.3 -3.77 -3.06% Opec Basket • 4 days 119.2 -4.49 -3.63% Mars US • 1 min 102.8 -7.98 -7.20% Gasoline • 14 mins 3.827 +0.034 +0.89% Click Here for 150+ Global Oil Prices

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Marine • 3 days 116.0 +1.13 +0.98% Murban • 3 days 119.6 +1.35 +1.14% Iran Heavy • 3 days 111.0 -3.76 -3.28% Basra Light • 202 days 71.69 -3.60 -4.78% Saharan Blend • 3 days 118.4 -3.79 -3.10% Bonny Light • 3 days 119.3 -3.77 -3.06% Start Trading CFDs Over 2,200 Different Instruments Click Here for 150+ Global Oil Prices Bonny Light • 3 days 119.3 -3.77 -3.06% Girassol • 3 days 117.5 -3.76 -3.10% Opec Basket • 4 days 119.2 -4.49 -3.63% Click Here for 150+ Global Oil Prices

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Canadian Crude Index • 11 days 98.12 -0.75 -0.76% Western Canadian Select • 3 days 101.2 -0.06 -0.06% Canadian Condensate • 3 days 117.4 -0.06 -0.05% Premium Synthetic • 3 days 115.7 -0.06 -0.05% Sweet Crude • 3 days 113.6 -0.06 -0.05% Peace Sour • 3 days 110.7 -0.06 -0.05% Start Trading CFDs Over 2,200 Different Instruments Click Here for 150+ Global Oil Prices Peace Sour • 3 days 110.7 -0.06 -0.05% Light Sour Blend • 3 days 112.8 -0.06 -0.05% Syncrude Sweet Premium • 3 days 116.4 -0.06 -0.05% Central Alberta • 3 days 111.0 -0.06 -0.05% Click Here for 150+ Global Oil Prices

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Louisiana Light • 4 days 118.3 -1.86 -1.55% Domestic Swt. @ Cushing • 3 days 106.0 -8.00 -7.02% Giddings • 3 days 99.75 -8.00 -7.42% ANS West Coast • 5 days 121.9 -2.23 -1.80% West Texas Sour • 3 days 103.5 -8.03 -7.20% Eagle Ford • 3 days 107.5 -8.03 -6.95% Start Trading CFDs Over 2,200 Different Instruments Click Here for 150+ Global Oil Prices Eagle Ford • 3 days 107.5 -8.03 -6.95% Oklahoma Sweet • 3 days 106.0 -8.00 -7.02% Kansas Common • 3 days 99.75 -8.00 -7.42% Buena Vista • 3 days 115.5 -9.02 -7.25% Click Here for 150+ Global Oil Prices

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1D 1M 3M 1Y All Charts Products Discussion Headlines 1 min Ecuador Halts All OIl Operations Amid Escalating Protests 1 hour Iraq Wants To Buy Exxon’s Stake In Key Oil Field 2 hours Yellen: Government Policies On Energy Not To Blame For Sky-High Prices 3 days OPEC+ Mulls What To Do After The Oil Pact Ends 3 days Freeport LNG Extends Force Majeure Until September 3 days Italy May Declare State Of Alert If Russian Gas Cuts Persist 3 days Musk Slammed With $258 Billion Lawsuit Over Crypto Posts 3 days Kurdistan Looks To Set Up Own Oil Firms Amid Legal Struggle With Baghdad 3 days China Looks To Invest In World’s Largest Offshore Gas Project 3 days G7 Could Discuss Price Cap On Imports Of Russian Energy 3 days U.S. Increases Heavy Crude Imports 4 days With No Nuclear Deal In Sight, U.S. Slaps Extra Sanctions On Iran 4 days OPEC+ Is 2.7 Million Bpd Below Oil Production Target 4 days Europe Follows U.S. Fed With Record-Breaking Rate Hikes 4 days Gazprom Lowers Gas Flows To Italy Even More 4 days Russia Says It May Cooperate With OPEC+ Deal Even After 2022 4 days Energy Secretary To Discuss High Gas Prices With Refining Executives 4 days Zelensky Calls For Seventh EU Sanctions Package Against Russia 4 days Novak: Russia Is Raising Oil Production 4 days Russia’s Largest Gas Field On Fire After Pipe Bursts 4 days “They’re Afraid Prices Will Skyrocket” U.S. Fears EU Tanker Insurance Ban 4 days Exxon Hits Back At Biden After Investment Accusations 5 days U.S. Natural Gas Rises Over 4.5% Amid Pre-Summer Heat Wave 5 days Oil Prices Fall On Biggest Fed Rate Hike Since 1994 5 days IEA: Fuel Crunch To Persist Despite Solid Refining Recovery 5 days Total Energies Is Betting Big On Green Hydrogen In India 5 days Saudi Aramco May Merge Trading Units Ahead Of IPO 5 days Lockdowns Lead To Major Decline in China’s Refining Output 5 days Biden Threatens Oil Firms: Increase Gasoline Production, Lower Prices 5 days Crude Prices Unmoved By Small Crude Build As Gasoline Inventories Drop 5 days Republican States Want Large Offshore Lease Sale Restored 5 days Germany Lends $10 Billion To Save Ex Gazprom Unit And Ensure Supply Security 5 days Top U.S. Senator Proposes Higher Taxes For Oil Companies 6 days Oil Prices Unmoved After API Reports Small Crude Build 6 days Freeport LNG Not Expected To Resume Full Operations Until Late 2022 6 days Europe Imports Record LNG Volumes 6 days Germany Scrambles To Take Control Of Russia-Owned Refinery 6 days Oil Billionaire Harold Hamm Proposes To Take Continental Resources Private 6 days Strong Demand Pushes LNG Tanker Rates Through The Roof 6 days Japanese Refiner To Cut Capacity: Report 3 minutes “ESG Investing Is Heading for a Reckoning, Says One Veteran Manager” – Bloomberg 8 minutes How Far Have We Really Gotten With Alternative Energy 12 minutes  What Russia has reached over three months diplomatic and military pressure on West ? 9 hours GREEN NEW DEAL = BLIZZARD OF LIES 21 hours The Federal Reserve and Money…Aspects which are not widely known 1 day “And this is perhaps the most dangerous kind of government there can be.” 2 days Demonising fossil fuels has caused major grid problem in Australia 5 days Famous author Michael Crichton talks about the “Climate Change Religion” aka Feudalism 2.0 2 days Welcome to TechnocracyThe New World Energy Order… “1000s Of Sydney Homes Plunged Into Darkness As Aussie ‘Price Cap’ Policy Sparks Energy Shortage” 6 days Apple to Bypass Internet and Beam Directly to Phones 5 hours ESG Topic – “German Police Raid Deutsche Bank, DWS Over Allegations Of Greenwashing” – ZeroHedge Bloomberg and others Sell Buy Sell Buy Sell Buy Sell Buy Sell Buy Breaking News: Ecuador Halts All OIl Operations Amid Escalating Protests

Find us on:

White House Considers Lifting Gas Tax To Lower Prices Energy Secretary Jennifer Granholm said…

The UK Is Prioritizing Energy Security Over Climate Pledges The UK appears to be…

Home Latest Energy News Irina Slav

Irina is a writer for Oilprice.com with over a decade of experience writing on the oil and gas industry

More Info

Share Facebook Twitter Linkedin Reddit Related News Kurdistan Looks To Set Up Own Oil Firms Amid Legal Struggle With Baghdad China Looks To Invest In World’s Largest Offshore Gas Project G7 Could Discuss Price Cap On Imports Of Russian Energy U.S. Increases Heavy Crude Imports With No Nuclear Deal In Sight, U.S. Slaps Extra Sanctions On Iran Iraq Wants To Buy Exxon’s Stake In Key Oil Field By Irina Slav – Jun 20, 2022, 10:30 AM CDT Moving to renewable energy is the way to reduce the energy costs of households, Treasury Secretary Janet Yellen told ABC’s George Stephanopoulos this weekend, adding that federal government policies on energy were not to blame for the current price situation.

In response to a question citing API’s president Mike Sommers as saying that the Biden administration moved away from domestic oil producers and this contributed to inflationary pressures, Secretary Yellen said, “I don’t think that the policies are responsible for what’s happening in the oil market.”

“Actually, consumption of gas and fuels are currently at lower levels than pre-pandemic and what’s happened is that production has gone down, refinery capacity has declined in the United States, and oil production has declined,” she added.

Yellen went on to suggest that oil producers were “partly caught unaware” by the strength of the post-pandemic recovery of the economy and were in no position to meet the oil demand that came with this stronger-than-expected recovery. Yet, she said, “high prices should induce them to increase supplies over time.”

Over the medium term, however, Secretary Yellen believes the solution to lower energy costs is the shift towards renewable energy.

The way in which we can ensure reasonable energy expenses for households is to move to renewables, to address climate change, as a medium-term matter. That’s a way to free us from geopolitical movements in oil prices,” she said.

Asked about whether a pause in the national gas tax was also among the tools the White House was ready to use as a short-term relief for drivers, Secretary Yellen confirmed it was on the table.

“President Biden wants to do anything he possibly can to help consumers,” Yellen said. “Gas prices have risen a great deal, and it’s clearly burdening households. So he stands ready to work with Congress, and that’s an idea that’s certainly worth considering.”

By Irina Slav for Oilprice.com

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