Energy

The 2024 Chevrolet Silverado EV RST is shown in Detroit on Jan. 5. General Motors is in a pilot program with Pacific Gas & Electric to use electric vehicles as a backup power source for homes.

GM plans to test using electric vehicles as a power backup for homes

5:49pm March 08, 2022

by Rina Torchinsky

General Motors and California's Pacific Gas & Electric are aiming to test the technology by this summer. Ford previously announced a similar feature on its electric F-150 Lightning pickup.

President Biden bans Russian oil imports

4:27pm March 08, 2022

President Biden is banning U.S. imports of Russian oil: the latest move to punish Moscow for its war on Ukraine. Gasoline prices are spiking.

Protesters in Boston call for a ban on Russian oil at a rally for Ukraine on Sunday.

Biden announces Russian oil import ban and warns gas prices could increase even more

3:15pm March 08, 2022

by Scott Detrow

President Biden described the move as a critical step to punishing Russian President Vladimir Putin for invading Ukraine, but said as a result, Americans should prepare for price hikes at the pump.

A Lukoil gas station sign is seen Friday in New York City's Brooklyn borough. Lukoil, Russia's second-largest oil company, has called for an end to the war in Ukraine. The oil company is facing calls for boycotts.

The White House says it's considering a range of options for Russian oil imports

5:43pm March 04, 2022

by Alana Wise

The White House emphasized the importance of maintaining a steady global energy supply amid Russia's war on Ukraine.

U.S. lawmakers are using the Ukraine crisis to push for domestic energy production

4:13pm March 04, 2022

by Nathan Rott

The U.S. oil and gas industry and its backers are seizing on the war in Ukraine to promote domestic energy production. Opponents say it makes more sense to ramp up renewable energy.

Gas prices reach over $5 a gallon at a station in Los Angeles on Friday. Oil prices continue to surge after Russia's invasion of Ukraine, with some analysts describing market conditions as verging on "panic."

Economy

Oil prices surge as fears about Russian crude supplies intensify

5:04pm March 02, 2022

by Camila Domonoske

The global benchmark topped $115 briefly on Wednesday, just days after it crossed the triple-digit mark for the first time in seven years.

A closed Gazprom gasoline station is shown in Almaty, Kazakhstan, on Jan. 9.

World News

Major oil companies pull out of once-promising Russia

12:28pm March 01, 2022

by Peter Granitz

Announcements from Shell and BP will further hit Russia's tanking economy — and batter its image as a go-to place for oil and gas investments.

How a wrinkle in the oil futures market has clogged America's oil pump

10:15am March 01, 2022

by Paddy Hirsch

The U.S. is still the largest producer of oil, but we're a long way from pumping what we were before the pandemic. Blame backwardation.

Workers install cryptocurrency mining computers inside a converted shipping container at the Compute North facility in Nebraska.

World News

How the U.S. benefits when China turns its back on Bitcoin

7:04am February 24, 2022

Until the middle of last year, most cryptocurrency mining took place in China. Then authorities pulled the plug. So Chinese bitcoin miners began moving their gear to U.S. towns like Kearney, Nebraska.

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World News

Ukraine crisis drives up global energy prices

6:15pm February 23, 2022

by Camila Domonoske

The Russian military buildup that's threatening Ukraine is also driving up global energy prices. Oil has come close to $100 per barrel, a price not seen since 2014.

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