Tag: "oil prices"

Alaskan Oil Put on Ice With New Proposal

Last week, the Interior Department’s Bureau of Ocean Energy Management issued a five-year strategy that would open offshore drilling from Virginia to Georgia, but put previously deferred areas off the Alaskan coast off-limits, reports Politico. While possibly good news for the Atlantic coast ― as well as the oil and gas industry ― the Alaskan […]

Toxic Assets, Financial Sector Projections and… Bubbles?

As many economically-informed Americans know, the Great Recession of 2007 was instigated largely by belligerent lending by some of the largest banks in the United States — specifically a crisis started by aspiring homeowners and banks, who both overestimated the future value of the home, and investors who largely misunderstood the financial instruments called derivatives, […]

Volatility Myth of Energy

Brookings Institution’s article claiming that falling oil prices will not hurt renewable “clean” energy wrongfully tries to make a comparison. Oil prices do fluctuate a good amount, and are part of a really good openly traded market. Renewable energy sources such as solar and wind, are not openly traded in a market and are heavily […]

SOTU NCPA: The Invisible Hand and Unabated Oil Production

In OPEC’s 2014 World Oil Outlook (WOO), the energy giant projects sustained oil prices of over $100 per barrel for 2015 with slight drops in future oil prices as low as $95 per barrel… Recent events have proven their short-run projections to be dead wrong. In his State of The Union (SOTU) Address, President Obama […]

Senators Plan to Raise the Gas Tax

The American public may be cheering falling gas prices, but they have Congress talking. Democrats and Republicans alike have started tossing around the idea of increasing the gas tax. This controversial proposal, while not exactly new, is gaining attention on Capitol Hill. How much money are we talking? According to the U.S. Energy Information Administration, […]

Keep Oil Prices Down by Passing Keystone XL

The Tampa Bay Times conducted a fact check on some statements made by Senator John Thune of South Dakota on Sunday. The fact check covered two main points: ―President Barack Obama’s own administration has done five environmental impact assessments of the Keystone XL pipeline According to the fact check, the U.S. State Department actually had […]

The Next Saudi Arabia? Lessons from Coober Pedy

In 1977, near the end of a decade of energy headaches, President Jimmy Carter addressed the nation in a speech that would bring the Department of Energy into fruition, give national attention to the need for the development of renewable resources, draw widespread criticism not only from OPEC-supporters but from scorned Americans and perhaps most […]

The Demise of King OPEC

The rise of U.S. shale oil has signaled the beginning of the end for almighty King OPEC. But it has been Saudi Arabia that has hammered the nail in the coffin for the King. OPEC effectively worked in the 1970s influencing world oil supply and price because all members acted as a cohesive unit. Because […]

The Oil Price War Could Be Bringing About Imminent Change

OPEC has declared open season on U.S. shale oil companies through its decision to leave oil production unrestricted. On separate accounts, Matt Phillips and Steve LeVine insist that “the fallout could create a crisis” in the American banking market as well as the energy industry, while Bloomberg notes how China has capitalized on this escalating […]

United States to be #1 Energy Producer by 2020

At the current rate of energy resource production, the United States is set to surpass Saudi Arabia and become the top oil producer in the world as early as the year 2020. The U.S. also has huge natural gas reserves that are larger than Russia’s reserves. Energy booms are also happening in Canada and Mexico. […]