Afghanistan Wants to Import Iranian Oil Despite US Embargo
Comstock/Thinkstock(KABUL, Afghanistan) — The U.S. effort to force Iran to abandon its nuclear ambitions may have hit a bump in the road because of Afghanistan.President Obama is attempting to pressure Tehran with tougher sanctions that include curbin…
Biden Blames High Gas Prices on Litany of Foreign Factors
Joe Raedle/Getty Images(NORFOLK, Va.) — Vice President Joe Biden promised students at a Virginia high school a quick explanation for why U.S. gas prices are high and still rising, but then went on for 11 minutes, delving into the complexities of the o…
Obama Ad Attacks Romney as Pawn of Big Oil
Kevin Lamarque-Pool/Getty Images(WASHINGTON) — President Obama’s re-election campaign is joining an escalating air war over gas prices and oil subsidies with a new TV ad in several states attacking Mitt Romney as a defender of “Big Oil.&rd…
Average Gas Price Reaches Highest-Ever Mark for April
Kevork Djansezian/Getty Images(WASHINGTON) — Gas prices are up, but at a slower rate than recent weeks.The average price of a gallon of regular gas is now $3.94, up 2 cents from a week ago and 26 cents from a year ago, according to the Department of E…
Obama to Move Forward with Iran Sanctions
iStockphoto/Thinkstock(WASHINGTON) — President Barack Obama is moving closer to imposing sanctions on Iran’s oil exports after determining that there is enough crude oil in the global market to avoid buying from Iran.Obama made the announcement …
Senate Rejects Obama Call to Strip Oil Company Tax Breaks
JEWEL SAMAD/AFP/Getty Images(WASHINGTON) — A last-minute entreaty by President Obama wasn’t enough to convince senators to strip the oil and gas industry of billions in tax incentives.The president said Thursday that Americans are getting fleece…
Obama OKs Oil Exploration Along Atlantic Coast, But Not Drilling
File photo. iStockphoto/Thinkstock(WASHINGTON) — The Obama administration on Wednesday endorsed new oil and gas exploration along the Atlantic Coast, setting the stage for possible future drilling lease sales.The announcement by the Interior Departme…
Gas Prices Reach Record High Again
Kevork Djansezian/Getty Images(WASHINGTON) — Inching closer to the $4 mark, the average price of a gallon of regular gas in the U.S. is now $3.92, up 5 cents from a week ago,and 32 cents from a year ago, according to the Department of Energy.This is t…
In Oil and UFO Country, Obama Says, ‘I Come in Peace’
JIM WATSON/AFP/Getty Images(MALJAMAR, N.M.) — President Obama had a simple greeting for his New Mexico hosts when he arrived at a Roswell airfield Wednesday afternoon: “I come in peace,” he said.The words — a playful reference to the famo…
Clinton Announces Countries to be Exempt from Iran Sanctions
Win McNamee/Getty Images(WASHINGTON) — Secretary of State Hillary Clinton announced Tuesday that 11 of the 23 countries which currently import Iranian crude oil will be exempt from sanctions based on the National Defense Authorization Act. Clinton wil…
Highest Gas Price Recorded for March
Jupiterimages/Thinkstock(WASHINGTON) — The average price of a gallon of regular gas is now $3.87, up nearly 4 cents from a week ago and over 30 cents from a year ago, according to the Department of Energy.Last week, the average gas price was $3.83 a g…
President Obama to Head to Oklahoma Site of Southern Portion of Keystone Pipeline Project
JEWEL SAMAD/AFP/Getty Images(CUSHING, Okla.) — President Obama will visit Cushing, Okla., on Thursday, where he will visit the southern part of the Keystone Pipeline project — the portion that is proceeding with Obama administration support, as oppos…
Clooney on Capitol Hill: ‘Constant Drip of Fear’ in Sudan
C-Span(WASHINGTON) — Actor George Clooney argued before the Senate Foreign Relations Committee on Wednesday that what happens in conflict-torn Sudan matters to Americans economically. “South Sudan is shutting off its oil,” Clooney said. &l…
Senate Narrowly Rejects the Keystone Oil Pipeline Amendment
iStockphoto/Thinkstock(WASHINGTON) — President Obama’s pipeline lobbying paid off…for now.A controversial Republican amendment to a transportation bill, to mandate construction of the Keystone XL oil pipeline, has failed in the Senate.The numb…
Former Biafra Leader Ojukwu Buried in Nigeria
ABC News Radio(NNEWI, Nigeria) — Thousands of mourners including politicians attended the funeral of the former leader of the Republic of Biafra in Nigeria.Dim Chukwuemeka Odumegwu-Ojukwu, 78, died in the United Kingdom last year after a long illness….
US Condemns Oil Well Bombings in South Sudan
File photo. Hemera/Thinkstock(KHARTOUM, Sudan) — The United States on Thursday condemned bomb attacks in South Sudan.While Sudan officials denied any involvement in the bombing of two oil wells in the newly created state, South Sudan officials say Su…
US, Mexico Agree to Share Gulf Oil
Digital Vision/Thinkstock(LOS CABOS, Mexico) — The United States and Mexico have agreed to share oil and natural gas deposits located along the maritime border in the Gulf of Mexico. The decision will mandate joint development of undersea reserv…
Iran Halts Oil Shipments to Britain and France
Digital Vision/Thinkstock(TEHRAN, Iran) — Iran halted export of oil to Britain and France in response to sanctions imposed on the country by the European Union.The oil ministry made the announcement on their website on Sunday. The EU imposed the sanct…
Iran Threatens to Cut Off Oil Supplies to European Customers
iStockphoto/Thinkstock(TEHRAN, Iran) — Iran is telling some of its steadiest oil customers that if they go along with tough sanctions to punish Tehran for its nuclear program, they won’t be getting any more fuel.That message was delivered Wednesday by…
Sanctions Push Iranian Currency to Record Lows
iStockphoto/Thinkstock(WASHINGTON) — Iran’s currency, the rial, has lost 71 percent of its value against the dollar since September, a fact that a senior Treasury Department official said Monday was a direct result of U.S. and international sanc…