Posts Tagged ‘ gas prices ’

Mid-Atlantic energy resources advance long-term energy security

March 17, 2015

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
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
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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Note to GOP: Raising taxes a bad idea

January 27, 2015
Taxes Ahead

What are the Republicans thinking? Coming right out of the gate, at the start of the new GOP-controlled Congress, they began talking about the crazy idea of increasing the gasoline tax. It has little chance of passing, yet can easily taint the party with a tax-raising reputation. Just two days after the swearing-in of the new Congress, the January 8 Wall Street Journal (WSJ) headline reads: “Senate Republicans: Higher Gas Taxes are on the Table.” It states: “Senate Environment and Public Works Chairman James Inhofe (R., Okla.), who just took the reins of the panel, said he is open to…

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Gas prices are down, so hold on to your wallets!

January 7, 2015
Taxes Ahead

Almost right on queue, the liberals are coming out of the woodwork—the “pest” reference is deliberate—to announce that it’s time for you and I to step up to the plate and hand over more of our money. Joining a growing movement, an opinion piece by the Denver Post Editorial Board details how the recent bout of dropping fuel prices presents the perfect opportunity to raise gas tax rates in order to help the country’s neglected highway systems. They give the following reasons: Most forecasters, including the federal government, say that lower gas prices are likely to continue. And as we all know, when the government…

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