The Office of Management and Budget assessment, tasked by President Joe Biden last May, found the upper range of climate change's hit to the budget by the end of the century could total 7.1% annual revenue loss, equal to $2 trillion a year in today's dollars.

The first 90 million barrels will be released between May and July, through two notices of sale totaling 70 million barrels, and 20 million barrels already scheduled to be released in May 2022.

According to data compiled by the U.S. Bureau of Economic Analysis, the Consumer Price Index (CPI) for ‘Energy’ in February 2022 was 25.6% higher than in February 2021, which is more than triple the increase of the CPI for ‘All Items,’ which was 7.9% higher over the same period.

Renewable sources accounted for more than one-eighth (12.61%) of the U.S. energy produced and 12.49% of the energy consumed for electricity, transportation, heating, and other uses.

U.S. Rig Count is up 3 from last week to 673, Canada Rig Count is down 16 from last week to 124.

U.S. commercial crude oil inventories decreased by 3.4 million barrels from the previous week to 409.9 million barrels.

Crude oil exported from countries including Kazakhstan, Azerbaijan, and Turkmenistan moves through Russia’s energy export infrastructure.

President Duda said that, especially at the current time with "the Russian aggression on Ukraine", the diversification of energy supplies, including the import of American Liquefied Natural Gas, was of “extreme importance".

The document regulates cooperation on the planning and implementation of projects for clean energy production, alternative and strategic gas supplies, security of energy supply, clean energy, and development of nuclear energy, the Ministry said.

The Biden administration has set a goal of a carbon-free electric sector by 2035.