• 3 minutes THE GREAT OIL PRICE PREDICTION CHALLENGE OF 2018
  • 7 minutes Big Oil Costs Can't Go Much Lower
  • 12 minutes China’s Oil Futures Contract Is Beginning to Show Its Teeth
  • 5 hours China Tariff Threatens U.S. LNG Boom
  • 12 mins So oil touched $80! (WTI break $71 twice). What does the future hold?
  • 32 mins Blackouts in Australia
  • 5 hours Regime For Regime: China Says Willing To Provide Venezuela With What Help It Can
  • 11 hours Famous Musk's Tweet Puts Tesla Under Criminal Investigation
  • 15 mins Global Hunger Continues to Grow Driven By Climate Change
  • 19 hours Is your name Philip? No? Too bad!
  • 1 day The moves toward 'zero-manning' in oil & gas
  • 1 day Jan's Electric bike replaces electric cars
  • 1 day Funding Secured: Saudi Wealth Fund to Invest $1 Billion in Tesla's RIval Lucid to build its EV factory
  • 1 day Making Safe Nuclear Power from Thorium
  • 1 day Permian already crested the productivity bell curve - downward now to Tier 2 geological locations
  • 15 hours WTI now at $70+ headed for $50s
IEA: Tight Markets To Push Oil Prices Above $80

IEA: Tight Markets To Push Oil Prices Above $80

IEA’s latest monthly oil report…

U.S. Becomes Top Oil Producer Globally

U.S. Becomes Top Oil Producer Globally

The U.S. became the largest…

API Strikes Back At Cuomo For “Extreme Energy Policies”

Cuomo

The American Petroleum Institute has attacked New York Governor Andrew Cuomo for his energy agenda, which, API New York executive director Karen Moreau said in a statement, is hurting the most vulnerable members of society. The statement comes in response to Governor Cuomo’s refusal to renew the air quality permit of the gas-fired Competitive Power Ventures Power Plant in the state.

“Governor Cuomo has sided with environmental extremists over New York’s most vulnerable: low-income families and seniors,” Moreau said. “Gov. Cuomo’s actions to close Indian Point coupled with efforts to stifle new clean natural gas power generation are creating a manufactured, needless energy crisis throughout New York and the northeast that will harm residents in the region – disproportionately hurting low-income and elderly residents who rely upon affordable electricity to heat, cool, and power their homes.”

The New York Governor is on a quest to put an end to fossil fuel and nuclear power use in the state, and this quest has already cost New Yorkers substantial increases in their utility bills.

A May report from the Consumer Energy Alliance found that New Yorkers pay some 44 percent more for electricity than their neighbors in Pennsylvania, which has abundant gas reserves and the pipelines to send this gas to New York. In January 2018, the Alliance said, “spot market prices in the New York City region jumped to a record high of $140.25 for natural gas, as compared to the average natural gas spot market price for New York in 2017 was $3.08. New Yorkers were subjected to prices that were $137 higher due to self-inflicted capacity constraints created by their own elected officials.”

Also in May, Governor Cuomo said all natural gas plants operating in New York will be eventually closed and that he will not approve any new gas-fired plant projects.

By Irina Slav for Oilprice.com

More Top Reads From Oilprice.com:



Join the discussion | Back to homepage

Leave a comment
  • Pgod on August 07 2018 said:
    Bullshit, as is Cuomos stupid energy policy. Let;s see how high prices go this winter. If we can;t have NG or nuclear I guess that leaves coal power for the winter . The best run power company in the country(fpl/nextera) is building new gas powered plants, go figure. No wonder people are leaving the State, I;m next!
  • Thomas on August 07 2018 said:
    Perhaps if API spent more time actually telling the truth, they would be more listened to when they actually do tell the truth. But alas, twenty years of bashing clean burning ethanol has left their “truth reputation” in tatters.

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News