Biden planning to tap oil reserve to control gas prices

The announcement could come as soon as today

WASHINGTON (AP) - President Joe Biden is preparing to order the release of up to 1 million barrels of oil per day from the nation’s strategic petroleum reserve in a bid to control energy prices. That's according to two people…

Formosa Plastics is granted tax abatement by Calhoun Port Authority

The plastics company is granted a 10-year tax abatement

PORT LAVACA, Texas - The Calhoun Port Authority approved a tax abatement request made by Formosa Plastics. The request is for 100% tax abatement for 10 years for Formosa Plastics, taking effect in 2022. Formosa Plastics halted a large plant…

China not happy with US oil sanctions

China is pushing back against the United States' decision to broaden its crackdown on Iranian oil exports, deepening the uncertainty in the global oil market.