Tag:oil
U.S. Sanctions Nine Companies Involved in Iranian Oil Operations
Hannah Newman Associate Editor Loyola University Chicago School of Law, JD 2024 On February 9, 2023, the United States imposed sanctions on companies accused of producing, selling, and shipping hundreds of millions of dollars’ worth of Iranian petrochemicals and petroleum. Iran, a major producer of hydrocarbons, holds some of the world’s largest deposits of oil …
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Should the United States Government Continue Subsidizing the Fossil Fuel Industry?
In his proposed American Jobs Plan, President Biden has stated that if the United States wants to achieve its decarbonization targets and get climate change under control, cutting off government support to the fossil fuel industry is a crucial first step. Eliminating government subsidies for fossil fuels is the most logical step in fighting back against climate change, but Biden is facing an uphill battle to get his American Jobs Plan passed through Congress.