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Last week OPEC+ talks on oil production quotas for member nations stalled and, as a result, oil prices rose. The Biden administration is somewhat concerned about the increase in oil prices and in response to the OPEC+ stalemate, a Biden administration spokesperson stated, “Administration officials have been engaged with relevant capitals to urge a compromise […]
On energy, President Donald Trump has Made America Great Again. In 2019, after 62 years, the United States achieved energy independence, meaning that as a nation we produced more energy than we consumed. In 2019, the United States produced more oil and more natural gas than either Russia or Saudi Arabia. In fact, in June […]
While Democratic Party presidential candidate Joe Biden is touting his $2 trillion climate plan as a way to stimulate the U.S. economy from the lockdown caused by the coronavirus, China is building coal-fired plants and is using record amounts of diesel in its construction program. China is currently planning to build over 200 gigawatts of […]
While pipelines in the United States face increasingly hostile legal challenges, China is seeing the importance of a national oil and natural gas pipeline network and is buying pipelines and storage facilities valued at 391.4 billion yuan ($55.9 billion). PipeChina was created in December 2019 to consolidate pipeline assets from the country’s state-owned oil and […]
President Trump is reportedly meeting with the leaders of several U.S. oil producers today to discuss some sort of temporary relief for the industry from the sharp drop in oil prices caused by the drop in demand due to COVID-19 pandemic. Although it isn’t completely clear what the administration has in mind, there are rumors […]
The Bureau of Land Management (BLM) of the Department of Interior tried this week to put a positive spin on their anemic onshore oil and gas leasing program. Even worse, it took them nearly six months to do it, since the fiscal year 2015 ended at the beginning of last October. Of course, it takes […]
Four years ago today, President Obama proclaimed, “we can’t just drill our way to lower gas prices.” Once again, President Obama is on the wrong side of history. In 2012, gasoline was $3.72 per gallon. Today, it is $1.73 a gallon. What’s changed is a massive increase in world oil production—almost all of which came […]
A forthcoming report claims that a foreign firm funding U.S. environmental groups opposed to America’s domestic energy boom is tied to a state-owned Russian oil company with a financial interest in halting U.S. energy production. As The Washington Free Beacon reports: A shadowy Bermudan company that has funneled tens of millions of dollars to anti-fracking […]
On Tuesday, President Obama delivered his sixth annual State of the Union address. The address was peppered with references to low gas prices (which are good but he has nothing to do with) and booming energy production (also good but happening despite his policies), part of an agenda he described as “middle-class economics.” The address […]
The Energy Information Administration (EIA) is out with new numbers measuring the geopolitical impact of America’s domestic energy boom. As the following chart shows, revenues from net oil exports for the Organization of Petroleum Exporting Countries (OPEC) are expected to decline by 14 percent in 2014 and 46 percent next year compared to 2013 levels. […]