This morning, I read an interesting editorial in the Wall Street Journal: Obama Has a Plan To Manage Our Oil Reserve The editorial was written by John Shages, a former deputy assistant secretary for petroleum […]
Tag: oil prices
Up Like a Rocket, Down Like a Feather
That’s a very common saying in the refining industry. When oil prices are rising, gasoline prices generally rise pretty quickly. I say generally because during the recent oil price run-up, gasoline didn’t keep pace because […]
My Drilling Proposal is on the Table
I said I wasn’t going to update until Wednesday, but have a little free time this morning. Imagine my surprise to read this headline today: Senate Democrats offer deal to break energy bill standstill Turns […]
The Drilling Debate: Narrowing the Chasm
I have given a lot of thought to the issue of opening up new areas for drilling in the Outer Continental Shelf (OCS) and in the Arctic National Wildlife Refuge (ANWR). My position has always […]
Peak Convenience
In the U.S. (and most of the developed world), people are accustomed to great convenience. We live in climate-controlled homes, wake up each morning, take a hot shower, and then eat a breakfast consisting of […]
The Speculation Question
I have grappled over the past year with the question of just how much speculation is playing a factor in runaway oil prices. I think it is primarily a supply/demand issue, but I feel that […]
The Fault of the Government
I have long maintained that the root of our energy problems in the U.S. stems from our failure to enact a consistent, long-term energy policy. Big energy projects generally take years to complete, and when […]
Oil Cracked $140 Today
Peak demand or not, oil prices show no signs of subsiding: Oil Surges Above $140 to Record as Libya Warns of Output Cut June 26 (Bloomberg) — Crude oil jumped above $140 a barrel to […]
How Oil Prices Impact Almost Everything
There is a very informative story in the Dallas Morning News today covering what I recently discussed in The Ripple Effect: Shoppers pay as oil costs trickle down Ripple effect, trickle down effect – it […]
Prediction on Corn Futures Fulfilled
Last year, with corn bouncing around $3.70/bu, I wrote an essay called The Mythical Ethanol Threat. I noted the number of new ethanol refineries under construction, and predicted that overbuilding would lead to additional ethanol […]