We can’t say we didn’t see this one coming. Obama has vetoed the bill allowing the construction of the Keystone Pipeline, giving himself control over its future: With no fanfare and a 104-word letter to the Senate, Mr. Obama vetoed legislation to authorize construction of a 1,179-mile pipeline that would carry 800,000 barrels of heavy petroleum […]
Continue reading →According to a former executive at Shell Oil, we should expect to see gas prices go back up by the fall of this year. The reason? American oil producers are idling their oil rigs in this time of overabundant supply: In an interview with CNBC, former Shell Oil President John Hofmeister predicts that U.S. oil […]
Continue reading →As if you hadn’t noticed, gas prices are plummeting. You may have wondered why this is the case. There is really one main reason, and it is shaking things up for OPEC. The US is producing far more oil than it ever has before: Opec nations are producing about 200,000 bpd more than their agreed […]
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