The Consequences Of Rising Inflation & Crude Oil Prices
Welcome to our second issue of Currents – our energy industry insights e-newsletter – for 2026. War with Iran Poses Far-reaching Implications on Commodity Supplies and Pricing- At the time of this article, with the United...more
ITC Finds Strawberry Imports from Mexico Harming US- On March 12, 2026, the International Trade Commission (“ITC”) determined that imports of fresh winter strawberries from Mexico, under Harmonized Tariff Schedule...more
The Iran War has entered its second week with Iran’s air defenses largely destroyed and much of Iran’s Navy at the bottom of the sea. While the United States and Israel are close to having complete control over the...more
History was made in Harris County on February 20, 2026. The Texas Business Court had its first jury verdict entered in the case Powers v. Berry, No. 24-BC11A-0025, which involved a dispute over a crude oil delivery project....more
On Feb. 3, Clark Hill described the U.S. – India tariff “reset” as a big commercial signal with thin operational detail. Several days later, the picture is now sharper. ...more
In the month since the U.S. took custody of Venezuelan President, Nicolas Maduro, the U.S. oil industry has been buzzing with rumors and speculation on what new opportunities may lie just south of the Caribbean. Venezuela is...more
The pound (GBP) fell sharply at the start of yesterday’s session, striking weekly lows against some peers, as softer-than-forecast UK inflation increased the odds of a Bank of England (BoE) interest rate cut in December....more
Wednesday morning, the White House declared a new national emergency on products of countries that are “directly or indirectly” importing crude oil and petroleum products from the Russian Federation. The executive order...more
The Tyler Court of Appeals reversed a $2.5 million judgment against pipeline successors (Coffeyville Resources Crude Transportation, LLC v. ExxonMobil Pipeline Co., No. 12-23-00276-CV, 2025 WL 356222 [Tex. App.—Tyler Jan. 31,...more
The Treasury Department has taken initial steps to implement the Trump administration’s “total elimination” policy directed at certain drug trafficking cartels. Most recently, on May 1, Treasury’s Financial Crimes Enforcement...more
On April 2, 2025, Pré-Sal Petróleo S.A. (“PPSA”) published the Draft Tender Protocol of the 5th Auction (“5th Auction”) for the sale of national oil from the Mero, Búzios, Sépia, Itapu e Bacalhau fields (“Draft Tender...more
China announced overnight that it will impose its own tariffs in retaliation for the newly announced U.S. tariffs. China has indicated that, effective February 10, 2025, it will impose a 15% tax on certain types of coal and...more
Canada's troubled Prime Minister, Justin Trudeau, faced growing calls to resign last week after his Deputy Prime Minister and Finance Director, Chrystia Freeland, resigned over disagreements about government spending....more
2024 was a year defined by change in the world of administrative law. With the U.S. Supreme Court’s review of the National Environmental Policy Act (NEPA) in Seven County Infrastructure Coalition v. Eagle County, the nation’s...more
Ahead of what’s expected to be the Federal Reserve’s final interest-rate decision for 2024, the S&P 500 dipped 0.2%, while the Nasdaq stayed flat. A “hawkish cut” of 25 basis points is expected. The 10-year Treasury yield...more
The U.S. Supreme Court last week scheduled oral arguments for December 10 in Seven County Infrastructure Coalition v. Eagle County, a highly anticipated case that focuses on whether a federal agency should be required to...more
In April of 2024, the Railroad Commission of Texas (“RRC”) posted a year-end review of production for the year of 2023. According to the RRC, Texas oil and gas production reached record highs in the year of 2023....more
On September 18th, the "Agreement Amending the One that Establishes the Goods Whose Import and Export are Subject to Regulation by the Ministry of Energy" (the "Agreement") was published in the Official Gazette of the...more
In a highly anticipated judgment, a 3:2 majority of the UK Supreme Court ruled in R (Finch) v Surrey County Council and others [2024] UKSC 20 that environmental impact assessments (EIAs) for fossil-fuel projects must include...more
In Citizens for Clean Air & Clean Water in Brazoria County et al v. United States Department of Transportation et al., several environmental groups challenged the DOT’s approval of a license for commercial construction and...more
El Gobierno Nacional de Colombia modificó mediante el Decreto 0242 de 2024 las tarifas de retención y autorretención aplicables a las empresas del sector minero y de hidrocarburos. Estas modificaciones fueron realizadas con...more
On February 8, 2024, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) announced the imposition of sanctions against a network of foreign entities and a vessel involved in an asserted price cap...more
The Price Cap Coalition is an international partnership of the United States, the G7, the European Union, and Australia that was established in December 2022 to limit Russia’s ability to fund its war against Ukraine through...more
The court has looked at a “hindrance” on paying a debt in the context of a force majeure clause and whether a sanctions clause or the general law of sanctions excused payment. Litasco, a Swiss company wholly owned by a...more
The United States manages more than three dozen separate economic and trade sanctions programs. Those programs target specified foreign governments along with thousands of named individuals, groups and entities in accordance...more