Economy

U.S. President Barack Obama speaks at the southern site of the Keystone XL pipeline on March 22, 2012 in Cushing, Oklahoma.  (Photo by Tom Pennington/Getty Images)

Obama’s Claim that Keystone XL Oil ‘Bypasses the U.S.’ Earns Four Pinocchios The Washington Post (Glenn Kessler): President Obama, seeking to explain his veto of a bill that would have leapfrogged the approval process for the Keystone XL pipeline, in an interview with a North Dakota station repeated some false claims that had previously earned him… Keep reading →

President Obama Delivers State Of The Union Address

President Obama, in an interview with a North Dakota television station, explaining why he continues to delay the Keystone XL pipeline: “Part of the reason North Dakota has done so well is because we’ve very much been promoting domestic U.S. energy use. I’ve already said I’m happy to look at increasing pipeline production for U.S. oil.… Keep reading →

Domestic Oil And Gas Production

Natural Gas Inventory Exceeds Five-Year Average for First Time Since Nov. 2013 EIA Today in Energy: Working natural gas in storage has surpassed five-year average levels for the first time in more than a year. At 2,157 billion cubic feet (Bcf) as of February 13, stocks are 58 Bcf greater than the five-year average. Recent… Keep reading →

Oil Prices Fall To Lowest Level In Four Months

Who Will Rule the Oil Market? The New York Times (Daniel Yergin): A historic change of roles is at the heart of the clamor and turmoil over the collapse of oil prices, which have plummeted by 50 percent since September. For decades, Saudi Arabia, backed by the Persian Gulf emirates, was described as the “swing producer.” With… Keep reading →

Wytch Farm Which Is The Largest Oil Field In The UK Is Put For Sale By BP

Oil Output Seen Rising, despite fall in Its Price NY Times: Even with oil prices continuing to plummet and oil companies decommissioning drilling rigs every day, the Energy Department on Tuesday projected that domestic crude production would continue to rise in 2015, although growth would slow. The forecast of even more American supplies on an… Keep reading →

Distributor Offloads Oil From Barge

U.S. Household Gasoline Expenditures in 2015 On Track to Be Lowest in 11 Years EIA Today in Energy: The average U.S. household is expected to spend about $550 less on gasoline in 2015 compared with 2014, as annual motor fuel expenditures are on track to fall to their lowest level in 11 years. Lower fuel… Keep reading →

Ethanol Industry Threatened By Midwest Drought

Will Alderman Revive This Ethanol Ruse? Chicago Tribune Editorial: Last summer the Chicago City Council briefly considered an ordinance that would require gas stations in the city to sell a blend of fuel called E15, which has the potential to damage your car engine. An E15 mandate is a patently bad idea. Changing pumps to… Keep reading →

Oil Boom Shifts The Landscape Of Rural North Dakota

Is It Time for the U.S. to Lift Its Restrictions on Oil Exports?  Wall Street Journal (Jason Bordoff): It’s a whole new oil world for the U.S. After decades of declining domestic oil production, the country is in the middle of an unexpected boom. Driven by new technology that reaches previously inaccessible reserves, production has soared… Keep reading →

Foreign Imported Cars Sit Idle At Port Storage Lot

  North America’s Energy Revolution Will Have a Ripple Effect Around the Pacific The Economist: To find out how much energy security has mattered in the Pacific’s recent history, ask the Japanese. At the museum of the Yasukuni Shrine in Tokyo, which honours the country’s war dead (sometimes controversially), an exhibit suggests, with a jarring note… Keep reading →

Fracking In California Under Spotlight As Some Local Municipalities Issue Bans

Benefits of the U.S. Oil and Natural Gas Boom are Permanent, Says Citi. Forbes: The return of the U.S. as an energy superpower will not be a short-term event with the economic benefits likely to last “at least two generations”, according to the latest research from Citi. That is one of the key findings in a… Keep reading →

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