Amid rising gasoline prices at filling stations across the US, energy prices are still too cheap to force dramatic changes in consumption, Shell’s chief executive said recently.
Peter Voser told Silicon Valley investors at a dinner held by the Churchill Club: “For certain things energy prices need to go up otherwise the behavior will not change. Keep reading →
U.S. President Barack Obama speaks at the southern site of the Keystone XL pipeline on March 22, 2012 in Cushing, Oklahoma
President Obama stopped in Cushing, Okla., on Thursday to announce a fast-track approval process for a portion of the Keystone XL oil pipeline — although it’s not the part for which he’s taken political heat for blocking. Keep reading →
Gas prices are once again dominating the national debate.
But despite rhetoric, high gas prices aren’t hurting as much as they used to. Keep reading →
It is anticipated that the average price at the gas pump in the US may climb as high as $5 per gallon by summer’s peak driving season. Understandably, many are worried that continuing turbulence in the Middle East could propel prices even higher.
However, a process known as pulsed injection offers potential new life for US oil fields that were previously believed to be past their productive lifetimes, permitting additional barrels to be extracted domestically. In total, the US Department of Energy estimates that there might be as much as 430 billion barrels of oil that is technically recoverable in the United States. Keep reading →
Depending on who you ask, the impending closure of a major Philadelphia refinery will either increase U.S. vulnerability to a terrorist attack on its energy supply, or simply shift demand to other suppliers of petroleum products.
Senior officials from federal energy and homeland security departments debated the loss of U.S. refining capacity with industry representatives and politicians at a field hearing of a Congressional committee outside Philadelphia on Monday. Keep reading →
The planned closure of Sunoco’s Philadelphia refinery, which accounts for a quarter of the US East Coast’s capacity, looks set to constrain supplies of diesel, heating oil, and perhaps gasoline, while pushing prices higher.
The projected shutdown, due to take effect in July if no buyer is found, was highlighted by the Energy Information Administration in a February 27 report saying petroleum product markets in the Northeast could be “significantly impacted” if the closure goes ahead. Keep reading →
