Oil Prices

Aerial view of cylindrical silver oil tanks

Use or Misuse of the Strategic Petroleum Reserve?

Rising gasoline prices prompted President Biden to announce on October 19 that he was authorizing the release of 15 million barrels of crude oil from the nation's Strategic Petroleum Reserve.

November 3, 2022 - The Washington Post

Close-up of multicolored gas station pumps

OPEC Plus Decision to Reduce Oil Output Could Lead to Global Recession

A decision earlier this month by a group of the world's largest oil exporters to drastically reduce oil production to stem the decline in oil prices could be a ‘tipping point’ for a global recession, says the International Energy Agency.

October 19, 2022 - The Hill

Gas Pumps

Is $7 a Gallon for Gas on the Horizon?

Global oil prices may skyrocket when the European Union, which receives about one third of its oil from Russia, enacts a partial ban on importing Russian oil at the end of the year to stop financing Russia's war in Ukraine.

July 28, 2022 - The New York Times

Gas Pumps

Waging War on High Gas Prices

America is not at war, but that didn't stop President Joe Biden from calling the largest release of oil from the nation's Strategic Petroleum Reserve that he authorized on March 31 to lower oil prices, a 'wartime bridge.'

April 6, 2022 - Washington Examiner

Fracking

Pumping More Oil to Lower Gas Prices

Proponents of increased oil drilling in the U.S. to replace banned Russian oil argue that it will decrease prices at the pump. A Texas reporter examined the claim with a University of Texas energy analyst. If only it was that simple.

March 14, 2022 - KXAN

Oil and Gas Extraction

Biden Administration's Energy Hypocrisy Exposed

World Oil, an energy publication, slightly annotated a Bloomberg News article to expose the hypocrisy of the Biden administration: curtailing oil production at home while pushing to increase it abroad.

July 15, 2021 - Bloomberg Quint

Oil Rig

Just What the World Needs: $20 Per Barrel Oil

Oil prices crashed Monday due to a disagreement between two of the world's largest oil producers, Saudi Arabia and Russia, amidst a slump in oil demand due to the outbreak of the coronavirus pandemic. Oil will flood the market as demand drops.

March 10, 2020 - The Washington Post

Oil Rigs

Just What the Planet Needs: More Oil Production

A surge of oil from four countries—Norway, Guyana, Canada and Brazil—will more than compensate for slowing growth of U.S. oil production. The new sources might cause oil prices to dip to $50 a barrel and slow the transition to electric vehicles.

November 6, 2019 - The New York Times

Commuter Traffic

Gas Prices and Vehicle Miles Traveled Analyzed Since 2000

Urban economist Joe Cortright examines the connection between gas prices and driving in the U.S. over the last two decades. Prices matter: increased gas prices results in decreased driving, providing the prices persist for the long-term.

March 4, 2019 - CityLab

pallets of green oil barrels stacked

U.S. on Track to Record Oil Production This Year

The current U.S. record is 10 million barrels per day set in 1970. Last year averaged 9.2 million b/d. Experts believe that record will be reached this spring, if it hasn't already. Can Trump claim credit for the surging production?

January 6, 2018 - NPR

Oil Rigs

North Dakota's Oil Boom Falters

As oil prices dip to around $30 a barrel, fears are setting in that North Dakota's oil fields have been overdeveloped. If the current boom goes bust, these towns might find themselves nearly empty.

February 15, 2016 - New York Times

When Regressive is Progressive

With the two Democrat candidates debating who is the real progressive, it would be interesting to see how they would respond, if asked, about President Obama's proposed $10-per-barrel fee to fund a 21st Century Clean Transportation System.

February 8, 2016 - The New York Times

How Low Will Oil Prices Go?

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.

January 14, 2016 - The New York Times

Saudi Arabia Reducing Gasoline Subsidies to Cope with Budget Deficit

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.

December 30, 2015 - AFP

Will the Tesla Model X Become the First Mainstream Electric Car?

What will it take for the electric car to become practical and economically feasible for the masses?

October 6, 2015 - Fast Company

Where Have All the Oil Trains in California Gone?

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.

March 13, 2015 - The Sacramento Bee

Seizing the Moment: Nations Slash Energy Subsidies as Oil Prices Fall

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.

February 5, 2015 - The New York Times

Plummeting Oil Prices Bring Economic Challenges to U.S. Petro-States

While U.S. motorists are enjoying the cheapest gas prices in five years, domestic oil producers are suffering, though not as badly as oil-exporting nations like Iran, Russia, and Venezuela. How are Texas, Louisiana, North Dakota, and Alaska faring?

December 29, 2014 - The New York Times

Arctic Lovers Can Thank Falling Oil Prices for this Gift

The high cost of drilling for oil in the Arctic, combined with the lowest oil prices in five years, have caused Chevron Corp. to drop their test well drilling program in Canada's Beaufort Sea.

December 19, 2014 - The Wall Street Journal

Is There Ever a Good Time to Increase the Federal Gas Tax?

Oil prices are at a five-year low with gasoline prices averaging $2.67 a gallon, lowest since February 2010. Furthermore, they are expected to drop another 17 cents to $2.50 a gallon in time for Christmas, so why not raise the gas tax by a nickel?

December 10, 2014 - The Atlantic

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