Oil

Oil Wells in New York State

New York is an oil producer. 20,901 barrels of oil (42-gallons) or 9,277,842 gallons of crude oil were produced in New York State during 2016.

Major Oil Storage Facilities

The MOSF program applies to facilities that store a total of 400,000 gallons or more of petroleum in aboveground and underground storage tanks. Facilities must be licensed by DEC and managed in compliance with applicable regulations for the storage and handling of petroleum.

NPR

OPEC makes deep oil output cuts sought by Saudi Arabia and Russia, snubbing US : NPR

The OPEC alliance announced a 2 million barrels a day cut in oil production Wednesday — an amount that could drive oil and gas prices back up after weeks on a downward trend.

The meeting of the 24 OPEC oil-producing countries, including Russia, comes at a time when much of the world is already battling soaring energy costs. A supply cut will also exacerbate tensions between Saudi Arabia and the U.S., where President Biden has been trying to rein in prices at the gas pump ahead of the midterm elections.

The White House called the decision "shortsighted" and said in a statement the administration would "deliver another 10 million barrels from the Strategic Petroleum Reserve to the market next month, continuing the historic releases the President ordered in March."

Gas prices – POLITICO

The White House has one problem that rules them all: Gas prices – POLITICO

For the past several months, a White House-led team of economic specialists has marked each day in the same way: With a painstaking, state-by-state examination of gasoline prices and the intricate market forces pushing them relentlessly upward.

Senior officials and others close to President Joe Biden view those prices as the cost that most directly affects voters’ everyday lives, and therefore their perception of the economy as well. As such, Biden and his top advisers fixate on them with an intensity that some aides describe as obsessive. White House chief of staff Ron Klain has grown particularly absorbed by the issue, checking the average price of a gallon of gas every morning. He’s lamented that it’s the one item everyone knows the cost of because gas station billboards are so ubiquitous throughout the country.