Business

The Biden administration said Friday it would resume plans for oil and gas drilling on federal lands and waters after an appeals court ruled to allow the use of an approximately fivefold higher “social cost of carbon” value in evaluating permits, according to reports.

Inflation may be hitting new 40-year highs, but less than a quarter of U.S. organizations say they are revising their salary budgets due to inflation.

The Bank of England has warned that inflation could hit 8 per cent by as early as next month in Britain as it raised interest rates to pre-pandemic levels on Thursday.

Rep. Frank Pallone, D-N.J., chairman of the Energy and Commerce Committee, is asking executives from six oil companies to testify about surging gas prices.

Quasi-emergency measures will end next week, says Prime Minister Kishida.

Tesla is suspending production at its Shanghai factory for two days, according to a notice sent internally and to suppliers, as the Chinese regime tightens COVID-19  restrictions to curb the country’s latest outbreak.

Russian military op spurs European demand for U.S. drones, missiles.

Federal Reserve increases key benchmark rate by 25-basis points

With sharply rising gasoline prices come nefarious methods criminals use to avoid the pain at the pump.

White House Press Secretary Jen Psaki repeatedly shut down questions about President Joe Biden potentially cutting a deal to import oil from socialist Venezuela on Monday after rumors of such a move, fueled by a U.S. delegation to Caracas, prompted international outrage.