Low Oil Prices

February 6, 2017, 5am PST
Oklahoma is among a number of Republican-controlled states considering gas tax legislation, particularly since it faces a budget gap of $900 million. Bills to hike the tax are expected to be proposed this month, but they face formidable challenges.
StateImpact Oklahoma
January 14, 2016, 12pm PST
Oil prices are now at a 12-year low. Prices have been very consistent this year: they have dropped every day. As they slide to going below $30 a barrel, service stations could be selling gasoline at $1 per gallon, a price not seen since 1999.
The New York Times
December 30, 2015, 5am PST
The world's third cheapest gasoline will increase by 40 percent in order to deal with a record budget deficit of $98 billion this year. Plummeting oil prices have forced the world's largest oil exporter, Saudi Arabia, to reduce energy subsidies.
AFP
December 29, 2015, 12pm PST
Not only might Alaskans have to pay a state income for the first time since 1980, three years after the Trans-Alaska Pipeline was completed, but Alaska Permanent Fund checks might drop 50 percent to cope with falling crude oil tax revenue.
The New York Times
November 8, 2015, 1pm PST
New figures from the Federal Highway Administration show no abatement in increasing vehicle miles traveled (VMT). While low oil prices have been beneficial for the environment on the production end, it is wreaking havoc on the consumption side.
AASHTO Journal
November 2, 2015, 7am PST
Shell Oil surprised the environmental community in September by announcing an end to Arctic drilling. What could come next? Shell is abandoning plans for the Carmon Creek oil-sands project in Alberta and taking a $2 billion write-down.
Bloomberg News
October 20, 2015, 11am PDT
It's the best of both worlds for OPEC as cheap oil prices increase demand while high-cost rival oil producers are forced to close down wells according to an OPEC study released Oct. 12. And it was all planned.
Reuters
October 6, 2015, 7am PDT
On Sept. 30, the Federal Energy Regulatory Commission approved the final environmental impact statement for a contentious $7.5 billion Liquefied Natural Gas export facility, pipeline, and power plant in Coos Bay, Ore. More approvals are still needed.
Portland Business Journal
September 8, 2015, 5am PDT
Not since 2004 have gas prices been this low, an outcome of a glut of oil on the market from producers amidst a slowdown of demand from China. No surprise that driving is at all-time hime. Prices are expected to drop below $2 per gallon by Christmas.
USA Today
August 9, 2015, 5am PDT
Carper, a Democrat, hopes to take advantage of historically low gas prices to hike the federal fuel taxes four cents a year for four years to end reliance on General Funds to fund transportation spending. Increased credits would offset the tax hike.
The Hill
July 1, 2015, 11am PDT
Alaska's 11.30 cents per-gallon gas tax, lowest in the United States, increases today for the first time in 45 years. As of July 1, the tax increases to 12.25 cents. Yes, by less than a penny. Percentage wise, though, it looks bigger: 8.4 percent.
Planetizen
June 14, 2015, 5am PDT
Oil prices plummeted 60 percent since last summer, yet American crude output will reach a record this year according to the Energy Information Administration's Fall Short-Term Energy Outlook. Gas prices will drop about 35 cents this year.
USA Today
March 23, 2015, 6am PDT
The News & Observer's "road worrier" (not a typo!), Bruce Siceloff, provides ongoing coverage of the sad saga of North Carolina's gas tax, set to be adjusted downwards by statute.
The News & Observer
March 13, 2015, 11am PDT
While many California were protesting oil trains carrying the hazardous Bakken crude, a funny thing happened—they stopped coming. While protests may have delayed the construction of new oil terminals, economics is at the root of the slowdown.
The Sacramento Bee
February 24, 2015, 6am PST
With SUV sales up, car sales down, and mileage driven up, the effects of lower gas prices could soon extend to land use, making suburban and exurban commuting more affordable. Economists have a term for these effects: demand response.
The Wall Street Journal - The Outlook
February 12, 2015, 5am PST
An IEA report suggests that oil prices have bottomed-out, are now on the rebound, and that demand for OPEC's oil will start rising next year. OPEC predicts that U.S. oil consumption will increase after years of decline, thanks to U.S. motorists.
OPEC Says U.S. Motorists
February 5, 2015, 1pm PST
Just as plummeting oil prices have caused state and federal political leaders to consider raising gas taxes, leaders in developing nations, both oil producers and consumers, are considering reductions in national energy subsidies.
The New York Times
January 19, 2015, 9am PST
It was considered a given by many analysts that global oil prices would only increase as world oil demand outstripped supply, so switching to percentage-based fuel taxes from per-gallon taxes made sense, until OPEC chose not to restrict their output.
The Courier-Journal
January 17, 2015, 7am PST
Charles Krauthammer offers his own brand of gas tax hike that differs from others mentioned recently. One, it's much bigger. Two, revenues won't be used for transportation. It would be revenue neutral; all funds would be returned to taxpayers.
The Washington Post
January 12, 2015, 8am PST
Look no further than House Speaker John Boehner. MSNBC contributor Steve Benen reports on a Jan. 8 Capitol Hill press conference where the Republican speaker from Ohio appeared to put the kibosh on even considering a federal gas tax increase.
MSNBC/Maddow Blog