** Exxon Mobil Corp will take up to a $2 billion loss on the highly leveraged sale of a troubled California offshore oil and gas field that have been idled since a 2015 pipeline spill. The sale comes after a failed bid this year to restart production at the site and as Exxon culls poor performing businesses.
** Environmental Protection Agency (EPA) leadership has repeatedly consulted left-wing environmental groups tied to a massive liberal dark money network on policy matters, according to internal agency documents obtained by Fox News Digital.
** Skyrocketing electricity prices across the U.S. are gaining more attention. It’s a topic that led off a recent gubernatorial debate in California, home to some of the nation’s priciest power. In Maine, politicians have clashed over whether renewable energy is making electricity more expensive. In New York, the Republican candidate for governor is urging the state to reverse its ban on natural gas drilling to lower utility bills.
** White House press secretary Karine Jean-Pierre on Saturday said President Biden’s comments on the coal industry had been “twisted” after Sen. Joe Manchin (D-W.Va.) earlier in the day criticized the remarks.
** The U.S. Supreme Court was set to hear arguments in two cases that could make it easier to challenge the regulatory power of federal agencies in disputes involving the Federal Trade Commission and the Securities and Exchange Commission.
** Twitter users on Sunday flagged a tweet from the official presidential handle @POTUS that had President Biden touting “the most common gas price” in the country at $3.19, drawing attention to the fact that was lower than what the average consumer sees at the pump.
** Canada’s proposal to tax corporate stock buybacks is unlikely to deter oil and gas companies from returning cash to shareholders and may instead put them at a competitive disadvantage, industry officials and analysts said.
** European households are paying more than ever for their electricity and natural gas, even as governments spend billions to shield consumers from the energy crisis. The average retail gas price across the European Union and Britain was almost 18 euro cents ($0.18) per kilowatt-hour in October, double what it was in the same month last year, according to energy consultancy VaasaETT Ltd. Household electricity costs have soared 67% to 36 euro cents per kilowatt-hour.
** German journalists found that a Wintershall Dea joint venture produces and delivers to Gazprom (Russian fuel company) gas condensate, sometimes called “white oil,” a crucial base material for aviation fuel. Gazprom is known to be a major supplier of aviation fuel for the Russian Air and Space Forces.
** A fire erupted at an oil pipeline in the southwest of Iran this weekend in an incident authorities are still investigating amid continued anti-government protests and clashes in the country following the death of Mahsa Amini, who was arrested by the morality police.
** Former Vice President and ‘An Inconvenient Truth’ filmmaker Al Gore urged the COP27 to wean consumers and businesses off coal, oil and gas sooner than later.
** A unit of Italian oil company Eni has been assigned two 1-million-barrel cargoes of Venezuelan diluted crude oil for November loading, according to a document from state-run PDVSA seen by Reuters on Monday.