When will Biden ease sanctions on oil and gas production on public lands? Does he really want to keep his approval rating at 37% percent?
Bloomberg (6/8/22) reports: "Italian oil giant Eni Spa and Spanish refiner Repsol SA are poised to import Venezuelan crude for the first time in two years after the US eased sanctions on the South American country. Eni booked two ships provisionally to load oil in Venezuela during June, according to people with knowledge of the situation. The vessels should load a combined 1 million barrels of diluted crude oil, known as DCO, from fields in the Faja region. Together, Eni and Repsol can lift as much as 2 million barrels for now, a person said. The move comes as the US seeks to alleviate a supply crunch following an EU embargo on most Russian crude shipments. Eni and Repsol SA, which co-own the Cardon IV natural gas development in Venezuela, will be able to import crude from Petroleos de Venezuela SA to offset 2022’s gas sales from Cardon IV, other people said. The swap agreement was laid out in a comfort-type letter sent by the US Treasury Department to the European companies at the end of May."
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"The Biden administration, with the help of Democrat majorities in both houses of Congress, is hell-bent on enriching their friends as they impoverish low- and middle-income Americans. Will you put up with it?"
– Levi Russell,
University of Kansas
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