Crude Oil

Republican Presidential Candidates Debate On Economy In New Hampshire

WASHINGTON, D.C. — U.S. Secretary of Energy Rick Perry announced that on October 2, 2017, the first-ever shipment of U.S. crude oil arrived in India. Following Prime Minister Modi’s visit with President Trump, Indian companies ramped up purchases of U.S. crude. “I am proud of the collaborative work between the United States and India that… Keep reading →

Crude Oil Carrier Hijacked By Somali Pirates

So here we are: Legislation that would end America’s 40-year-old ban on the export of domestic crude oil is moving through Congress – and better, there’s bipartisan momentum behind it. Resistance to lifting the crude exports ban has no credible footholds – reflecting the breadth of the economic analysis supporting exports. There’s also the realization… Keep reading →

Boom Goes Bust: Texas Oil Industry Hurt By Plunging Oil Prices

The impending end to the four-decade long Crude Oil Export Ban took on another layer of inevitability last week when the proposal passed through the House’s Energy and Commerce subcommittee on energy and power. These significant victories for supporters of lifting the ban bring the vote closer to the House floor where it will presumably… Keep reading →

High Gas Prices Prompt Bush's Decision To Lift Ban On Offshore Oil Drilling

The U.S. Energy Information Administration (EIA) reports that the average retail price for regular gasoline on Aug. 31 was $2.51 per gallon – the lowest price for the Monday before Labor Day since 2004 and 95 cents lower than the Monday before Labor Day last year. EIA’s chart: EIA explains: Declines in crude oil prices… Keep reading →

Louisiana Oil Industry Recovers From Katrina Devastation

The proliferation of natural gas and crude oil produced from U.S. shale deposits also created a bonanza of natural gas liquids (NGL). NGLs account for around 20 percent of U.S. natural gas production by volume at the wellhead, with ethane being the largest fraction. This surplus of ethane could lead to increased exports of the… Keep reading →

Surging Oil Industry Brings Opportunity To Rural California

More about last week’s Commerce Department decision to allow U.S. crude oil swaps with Mexico – basically, a positive step in the direction of lifting America’s 1970s-era ban on exporting domestic crude. An analysis by the U.S. Energy Information Administration (EIA) says the exchange of light U.S. oil for heavier Mexican oil will generate economic… Keep reading →

President Obama Delivers State Of The Union Address

Two items from the weekend help sharpen the focus a strategic choice before Americans as they look to the future: Which energy path will we take? One path leads to increased domestic energy development. It’s typified by safe and responsible oil and natural gas production that harnesses America’s energy wealth to create jobs, grow the… Keep reading →

Boom Goes Bust: Texas Oil Industry Hurt By Plunging Oil Prices

On August 14, 2015, the U.S. Department of Commerce (DOC) Bureau of Industry and Security (BIS) announced the approval of licenses for limited exchanges of crude oil between the U.S. and Mexico; namely, swapping Mexico’s heavy grade crude with lighter grade U.S. crude. The decision addresses the mismatch between the light sweet crude oil produced… Keep reading →

Kuwait Promises To Increase Oil Production In Case  Of War

Late last week the Obama administration gave the go-ahead for limited domestic crude oil exports to Mexico, a positive move on oil exports – yet one that immediately underscores this question: Why stop there? According to the Associated Press, license applications approved by the Commerce Department allow the exchange of similar amounts of U.S. and… Keep reading →

Fracking In California Under Spotlight As Some Local Municipalities Issue Bans

Add MIT professor and former CIA director John Deutch to the bipartisan list of those calling for an end to the ban on U.S. crude oil exports. Deutch, a National Petroleum Council member who served in a number of posts during the Carter, Clinton and Obama administrations, argues in the Wall Street Journal that exporting… Keep reading →

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