Tag: "oil prices"

Obama Announces $98.1 Billion More Transportation Spending Waste

A major portion of the Administration’s proposed new transportation spending — 21st Century Clean Transportation Plan — is a series of proposals to expand transit systems (31 rail, bus and streetcar systems in 18 states costing $3.5 billion), revive the failed high speed rail initiative, modernize freight systems and provide grants to regional authorities to […]

Close to Lifting the U.S. Crude Oil Export Ban

Congress is planning to vote on lifting the ban on U.S. crude oil exports by the end of this month. Across the aisle, most Republicans support the end of the export ban. In fact, the Republican-controlled House is scheduled to vote on legislation that would lift the restrictions. In the Senate, Majority Leader Mitch McConnell […]

New Study Looks at Lifting the Crude Oil Export Ban

According to a new report out from the United States Energy Information Administration: Recent increases in domestic crude oil production and the prospect of continued supply growth have sparked discussion on the topic of how rising domestic crude oil volumes might be absorbed, including the possibility of removing or relaxing current restrictions on U.S. crude […]

Increased Energy Use Raises Standard of Living in Developing Nations

Global production of oil and natural gas has increased in recent years, and prices have been falling.  This is not only good news for consumers in developed countries, but also for the poor in developing countries around the world.  Increased energy use is essential in developing countries if they are to raise the living standards […]

Lifting Crude Oil Export Ban Benefits U.S. Economy

The Government Accountability Office (GAO) suggests that removing crude oil export restrictions could both reduce consumer fuel prices and increase the price of U.S. crude oil from ~$2 to ~$8 per barrel. Regulations implemented 40 years ago are being reviewed as technological advances in the extraction of crude oil from shale formations, commonly known as […]

The Changing Price of Oil Relative to Gold

It is true that a shift in supply or demand will change prices in any market; however, not all market-price movements are necessarily due to a change in market supply or demand — especially in the case of prices for commodities as highly political as crude oil. Longer term trends in the price of oil […]

Mexico Opens to Big Energy

For the past 55 years, Mexico has prohibited private companies from owning any of its oil and natural gas production. The national oil and gas company PEMEX, once a major international energy player, has been reduced to an irrelevant player due to the government’s ever increasing and frequent siphoning of funds from PEMEX. The demise […]

U.S. Now Top Oil Producer

The United States has officially surpassed both Saudi Arabia in terms of crude oil production. In 2014, the U.S. had already exceeded both Russia and Saudi Arabia in hydrocarbon, oil and natural gas, production. The U.S. Energy Information Administration (EIA) recently predicted that such high production is likely to continue into the future, with an […]

The Obsolete Crude Oil Export Ban

In the 1970s, during the Arab oil embargo, gasoline prices soared in the United States. Shortages created long lines of cars at the few gas stations that had fuel. In response, the U.S. began a series of policies that focused on its limited supply and high demand for oil. Policies included efforts to build up […]

Gas Savings Conundrum

Families planning road trips this summer, rejoice: According to a new estimate from the U.S. Energy Department, drivers can expect to see the lowest summer gasoline prices in about six years. Before you head out to buy a gas-guzzling SUV, be forewarned: falling gas prices might not be as good for your pocketbooks — or […]