oil prices

Mid-Atlantic energy resources advance long-term energy security

March 17, 2015
By
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At the end of January, the Obama administration announced the next step in a long process that could result in the exploration and ultimate extraction of oil-and-gas resources of the U.S. mid-Atlantic—something the Outer Continental Shelf (OCS) Governors Coalition supports. On March 30, the 60-day comment period ends. If everything goes well, we could see new American resources on the market in twenty years. With the current oil oversupply, it may seem like an odd time to be going after more. However, the legal wheels that could allow limited access to the vast, untapped oil resources move very slowly. Today’s…

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What’s up with the prices at the pump?

March 3, 2015
By
Arab America gas price standoff

First, Saudi Arabia drove down the price of oil by increasing its production, which gave Americans a welcome drop in prices at the pump. Could the kingdom now be pushing them back up? Prices at the pump have gone up nearly 40 cents a gallon from the January low—60 cents in California. Every year, at this time, refineries shut down to make adjustments from the “winter blend” to the “summer blend.” However this year, the increase is exacerbated. The unexpected extreme weather in the south, Bill Fleischli, executive vice president of the Illinois Petroleum Marketers Association, explained: “caused some of the…

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Enjoy low oil prices while they last – OPEC predicts $200-a-barrel coming soon

February 10, 2015
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OPEC rising oil prices

OPEC’s Secretary General Abdulla al-Badri made headlines when he announced that the oil price may have bottomed out—indeed, we had four straight days of increase—and predicted “you will see more than $200 when it comes to future oil prices.” Al-Badri makes a strong argument. In the current reduced-oil-price environment, we see oil companies cut back on budgets, curtail exploration, and pull in rigs—as in many places it costs more to get the oil out of the ground than the present sales price. The Wall Street Journal (WSJ) reports: “the number of rigs drilling in the U.S. has sunk to a…

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Obama kicks the oil-and-gas industry while it is down

January 6, 2015
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epa oil prices

For the past six years, the oil and gas industry has served as a savior to the Obama presidency by providing the near-lone bright spot in economic growth. Increased U.S. oil-and-gas production has created millions of well-paying jobs and given us a new energy security. The president often peppers his speeches with braggadocio talk about our abundant supplies and decreased dependence on foreign oil. So now that the economic powerhouse faces hard times, how does the Administration show its appreciation for the oil-and-gas industry boon to the economy over the past six years? By introducing a series of regulations—at least…

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John Podesta and the Obama Doctrine: Be very afraid

December 23, 2013
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John Podesta and the Obama Doctrine: Be very afraid

“Canada is a sovereign nation and we will develop our resources with appropriate regulations and enforcement to protect the environment,” said Paula Caldwell St-Onge. The Consulate General of Canada, St-Onge was in Albuquerque to talk up, and answer questions about, the Keystone pipeline. She’d done media interviews prior to her arrival at the University of New Mexico Science and Technology Park where a smattering of aggressive, sign-waving Keystone opponents awaited. Security escorted St-Onge from the parking lot to the meeting room. I, too, was addressing the folks who’d come in support of the controversial pipeline. Sans security, I approached the…

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