Energy in America

Billionaire Elon Musk outlined his vision in China Cyberspace, the Cyberspace Administration of China's flagship magazine. Here is a FOX Business roundup of the essay's highlights.

Saudi Arabia's Kingdom Holding Co., the investment firm controlled by billionaire Prince Alwaleed Bin Talal, quietly invested more than $500 million in Gazprom, Roseneft and Lukoil between February and March, regulatory filings showed.

The Saudi state oil company reported soaring profits for the second quarter on the back of higher oil prices and refining margins.

Schork Report principal Stephen Schork called out the Biden administration for claiming they are responsible for falling gas prices, stating it's due to a lack of demand.

Industry representatives, Sen. Joe Manchin and others are still debating competing claims on how Democrats' spending and tax bill will affect U.S. energy.

Sen. Ed Markey, D-Mass., said there's "no reason" Americans should keep buying gasoline-powered vehicles due to EV tax credits under the Inflation Reduction Act.

A pipeline problem halts operations at seven offshore oil platforms in the Gulf of Mexico off the Louisiana coast operated by Shell, Chevron and Equinor and affecting the Mars and Amberjack Pipelines.

A leak shut pipelines in the Gulf of Mexico, causing Shell to halt production at three of its deepwater platforms.

Investors will be watching for the latest inflation figures in the form of producer prices as well as the latest jobless claims.