The leading U.S. oil and gas trade association overseeing industry interests
The Jones Act remains a focal point as critics argue the century‑old protectionist law has left US shipbuilding underdeveloped. New data show only 92 Jones Act‑eligible vessels and a shrinking domestic fleet, while costs to Hawaii, Puerto Rico and other ports remain high.
Oil majors have reported bumper profits for Q2 as volatility from Iran-related tensions sustains high crude prices. Executives say they are boosting reliability and refining where needed while returning cash to shareholders. Trump has criticized profits and urged lower prices at the pump.
Oil majors have posted strong quarterly profits amid continued volatility from the Iran-U.S. conflict and the Hormuz Strait. Aramco and European peers report multi-billion results, while policymakers and markets watch for potential windfall taxes and supply routes.
Diesel prices have surged to new highs in the UK amid global supply disruptions linked to the Iran war and Russia-Ukraine conflict. The US is weighing export bans to ease domestic pain, while Europe and the UK face rising costs and tight supplies. Authorities warn prices will likely rise further as markets react.