That's a rough estimate of how much it would currently cost the U.S. to refill its Strategic Petroleum Reserve "right to the top," as President Donald Trump promised in his inaugural address Monday. The Biden administration sold off more than 180 million barrels of oil from the stockpiles in a bid to control runaway gasoline prices after Russia's war on Ukraine sent inflation skyrocketing. Lower-cost purchases since than have replenished inventories somewhat—to roughly 394 million barrels. Millions more are scheduled to arrive by May. That leaves the skyscraper-sized storage caverns...

Donald Trump yesterday took an oath to “preserve, protect and defend the Constitution of the United States” and then promptly broke that oath by seeking to revoke the first sentence of the 14th Amendment: “All persons born or naturalized in the United States, and subject to the jurisdiction thereof, are citizens of the United States and of the State wherein they reside.” Remember, Trump has not been elected king or strongman, and indeed a balance of powers was the foundational idea on which the U.S. constitutional system was designed. Trump...

President Trump late Monday issued a pair of executive orders that seek to bolster oil and gas drilling — including in contentious areas of Alaska. One order seeks to open up drilling in Alaska’s Arctic National Wildlife Refuge and National Petroleum Reserve. The other initiates a review of all policies that “burden the development of domestic energy resources.” The latter order also specifically targets former President Biden’s electric vehicle push — stating that it is U.S. policy “to eliminate the ‘electric vehicle (EV) mandate.’” This story is developing and will...

While President Trump's executive order on a national energy emergency doesn't specifically mention the power needs of artificial intelligence, it said it is focused on the requirements of the “next generation of technology." America's "ability to remain at the forefront of technological innovation depends on a reliable supply of energy and the integrity of our Nation’s electrical grid," his executive order said. Trump’s nominee for Interior Secretary, former North Dakota Gov.

By the authority vested in me as President by the Constitution and the laws of the United States of America, including the National Emergencies Act (50 U.S.C. 1601 et seq.) (“NEA”), and section 301 of title 3, United States Code, it is hereby ordered: Section 1. Purpose. The energy and critical minerals (“energy”) identification, leasing, development, production, transportation, refining, and generation capacity of the United States are all far too inadequate to meet our Nation’s needs. We need a reliable, diversified, and affordable supply of energy to drive our Nation’s...

WHAT’S HAPPENING: Good afternoon and Happy Monday readers! Today, we celebrate a historic Martin Luther King Jr. Day that has coincided with the inauguration of President Donald Trump. As the 47th president kicked off his second administration from inside the Capitol today, he was expected to issue a number of executive actions related to his America First energy policy. Outside of wintry D.C., California isn’t out of the woods just yet, as forecasters are warning of high winds that could fuel wildfires in the Los Angeles area. With the new...

At today’s Inaugural Address, President Donald Trump unveiled his plan to quickly enact a number of executive orders concerning energy and the environment in his complete denial of the climate change crisis that is now ravaging the planet. These include a “national energy emergency” to encourage more oil and gas production; opening up new federal lands to fossil fuel extraction; ending environmental justice programs across the country; and canceling clean energy incentives, according to a press release from Food & Water Watch. Trump also announced his plan to withdraw from...

'Drill, baby, drill': Trump to declare 'national energy emergency' to boost fossil fuels in US WASHINGTON – President Donald Trump said on Monday he will declare a national energy emergency aimed at boosting U.S. oil and gas production, and lowering costs for U.S. consumers. The emergency declaration is just one of many actions Trump was expected to take on Monday to bolster the U.S. oil, gas and power industries and put a brake on former President Joe Biden's efforts to accelerate the electric vehicle industry. "America will be a manufacturing...

• The emergency will be among the first priorities for a national energy council that sits at the nexus of agencies carrying out a flurry of Trump executive orders and rolling back Biden climate regulations. • "We will drill, baby, drill," Trump said in his inauguration speech. "We will be a rich nation again, and it is that liquid gold under our feet that will help to do it." The big picture: The emergency declaration will cite high energy prices and rising demand from AI as a pretext to "unlock...

President-elect Donald Trump will declare a national energy emergency to unlock broad powers aimed at speeding fossil fuel and minerals production, an incoming administration official told reporters Monday. The effort is one of several executive orders Trump will sign when he is inaugurated on Monday, according to the official, granted anonymity to preview the president-elect's plans. Boosting U.S. energy production is “the common theme” of Trump’s economic agenda, said the official, who offered few details on the specifics of these plans.