Gas prices usually rise in the summer months, as American motorists hit the road and drive up demand. But this summer prices are falling, as burgeoning US oil production provides a buffer against summer demand and international turmoil – both of which typically mean higher gas prices.
A Texas judge ordered US Marshals to seize a Kurdish oil tanker in US waters. But why was the Kurdish oil tanker there in the first place?
The Ukraine crisis has sparked interest in natural gas production on a continent where many oppose new drilling. Hydraulic fracturing – or ‘fracking’ – might help Europeans wean off Russian supplies, but the technology remains publicly unpopular and plays a small role in Europe’s vision of energy security.
New US and EU sanctions on Russia over Ukraine target some of the country’s most important sectors, including energy. But instead of cutting off Russia’s current oil and gas output, the new sanctions target energy technology critical to its future.
The latest US and EU sanctions on Russia and Rosneft could hurt Russia and Rosneft financially. Meanwhile, the landmark Yukos ruling will cost the world's largest publicly traded oil company tens of billions of dollars.
New energy extraction methods are touted as an answer to high oil prices, Cobb writes, but they more closely resemble emergency measures designed to forestall an inevitable decline in the world's fossil fuel resources.
What would a world powered by solar energy alone look like? According to one study, it would need to be enough solar panels to fill an area about the size of West Virginia.
A new White House climate change report warns of the economic costs of delaying action on global warming. It comes as the EPA begins public hearings on controversial power plant regulations aimed at curbing climate change.
Although US oil production has increased to 16.8 million barrels of crude per day, gas prices are projected to stay static in the near future. The volume of oil may be high, but experts say the growth of overall global demand is just as high, if not higher.