Peak Oil News

Saudi Arabia and the United Arab Emirates will support a Japanese initiative to bolster oil supplies in Southeast Asia after war-driven disruptions heightened concerns over energy security. Officials from Saudi Arabia and the UAE joined a special session of the Asia Zero Emission Community on Thursday. Ministers from AZEC’s 11 partner nations – including Japan, Indonesia and Australia – gathered in Manila to discuss cooperation on oil purchases and strategic stockpiles.

Islamabad: Pakistan expects to reach its electric-vehicle adoption target ahead of schedule as surging oil prices make switching away from gasoline-powered cars increasingly attractive, according to a senior government official. The government aims for EVs to account for 30 per cent of new vehicle sales by 2030 under a policy announced last year.

Two natural gas pipelines ruptured in opposite corners of New Mexico on Tuesday, the latest in a growing number of such incidents reported statewide since 2022 amid a push by the U.S. Environmental Protection Agency to ease regulations on the oil and gas industry. At the annual New Mexico Oil and Gas Association conference in Santa Fe on Wednesday, EPA Administrator Lee Zeldin announced plans to roll back Biden-era policies tied to methane and air pollution for the multitrillion-dollar sector.

“Now you’re going to double my heating oil bill? This is just a slap in the face,” said Lisa Furman, who owns a home in Hancock County in northern Maine. “There’s no reason for this.” She expects to pay $3,400 for heating oil over the next 10 months, significantly more than the $1,500 she’s used to spending on heating in a season.

The US Environmental Protection Agency said on Wednesday it would soon propose scrapping a Biden-era rule aimed at curbing large leaks of methane from oil and gas operations. The move is part of a broad Trump administration effort to slash regulations that it says burden US businesses as it seeks to boost fossil fuel production. “Americans must be able to afford to heat their homes in the winter and fill up their car and drive to work.

Hurricane Isaias moves across the Gulf at 10:10 a.m. CDT on October 8, 2026. (Image by CIRA/NOAA.) Hurricane Isaias has forced producers to shut in roughly 63% of U.S. Gulf offshore oil output, adding a new supply threat for Texas drivers even as the storm heads toward a landfall east of the state.

Europe could face a gas shortfall of 12% to 15% of demand if a severe cold snap hits this winter, according to a report published on Thursday by the EU’s gas transmission operators. The warning comes as the bloc enters winter with gas storage facilities just 72% full as of October 1, down from 83% at the same point last year, following what the report describes as a “challenging injection season”.

Two weeks ago, Oracle told the world that Project Jupiter, its massive 2.45GW New Mexico mega-campus for OpenAI, was “on schedule.” It also sent a force majeure notice to the developer. Today we found out how it plans to square that circle: with a lot of trucks.

President Donald Trump said that he is weighing a potential suspension of the federal gas tax, as his administration looks for ways to ease high energy costs ahead of November’s midterm elections. “Well, we’re thinking about that,” Trump said Tuesday when asked by a reporter if the tax would be suspended. He did not offer any additional details about how seriously the idea is being considered or any steps to further the proposal in Congress.

In December 1987, The Atlantic had some reassuring news for readers: The next oil crisis didn’t have to happen. The United States had already endured the oil shocks of the 1970s, and Amory B. Lovins and L. Hunter Lovins, a pair of then-married environmentalists, argued in this magazine that the country had learned from the experience.