“The potential of air strikes on Yemen by Saudi Arabia, the biggest oil producer in OPEC, could throw world oil markets into volatility.” While Yemen contributes less than 0.2 percent of global oil output, its location puts it near the center of world energy trade. The nation shares a border with Saudi Arabia, the world’s… Keep reading →
Saudi Arabia’s oil minister, Ali al-Naimi, recently said again that OPEC will not take sole responsibility for supporting global oil prices. Since the collapse in oil prices this past year, OPEC has attempted to convince non-OPEC oil producers to cooperate on production and prices, but with little success. “Today the situation is hard. We tried, we… Keep reading →
Industries Are Critical of Proposed Stricter Ozone Standards The Hill: Business groups are waging war on the Obama administration’s proposal to reduce ozone pollution, arguing the regulations would cripple the U.S. economy. In order to comply with the proposed rule, many areas of the country would have to all but shut down land development and… Keep reading →
Commonwealth Edison has added to the already intensified political situation in Illinois over the future of state-energy policy.”The utility is backing legislation being introduced today in Springfield that effectively is a response to the clean-jobs bill backed by Chicago Mayor Rahm Emanuel and a coalition of environmental, consumer and labor groups, along with renewable power… Keep reading →
Continued growth of U.S. unconventional oil and gas production has made oil and gas exports attractive for industry. On February 10, 2015, the Energy Information Administration (EIA) issued a report highlighting the significant decrease in light crude oil imports to the U.S. Gulf Coast area, with light-sweet crude imports virtually eliminated in 2014. Since 2010,… Keep reading →
The 114th Congress convened January 3 with energy at the top of its agenda. Both the House and the Senate kicked off the new session with approval of the Keystone XL Pipeline. That was just the start. Senator Lisa Murkowski (R-AK), the new Chairwoman of the Senate Energy Committee, has promised comprehensive energy legislation based on her Energy 2020 agenda.
Oil prices increased to their highest in nearly two months on Monday, following concerns over escalating conflict with Islamic State militants in Libya and threats to withhold exports from Iraq’s semi-autonomous Kurdish region. “Egypt bombed Islamic State targets inside Libya on Monday and Cairo renewed calls for a U.S.-led coalition to confront militants there a… Keep reading →
There have been lots of recent headlines about how much money the governments of oil exporting nations will lose as a result of declining oil prices. But these countries will really just earn less money than they would from selling their product at a higher price. The price of oil has never been static and… Keep reading →
With the global oil market currently oversupplied to the tune of an estimated 2 million barrels per day, oil producer group Opec has struggled to formulate an effective strategy aside from “let the market sort it out.” For decades Opec played a price-setting role by increasing production to boost supply when prices were deemed too… Keep reading →
A new report from the Pennsylvania Department of Environmental Protection has found that there is little to no risk of radiation exposure from hydraulic fracturing activity. “In the most comprehensive study of the subject ever conducted, the Pennsylvania Department of Environmental Protection found that there is no concern of radiation exposure from fracking wells for… Keep reading →
