Oil prices rose above $108 per barrel in the wake of new sanctions on Iran. The US, Canada, and Britain announced new sanctions on Iran's energy and finance sectors.
Clean energy and other parts of the 'clean economy' account for 2 percent of US jobs, employing some 2.7 million Americans, according to a recent report.
The Gulf oil spill was capped a year ago Friday, but offshore drilling is still far off its pre-spill pace. With a new regulatory agency putting a greater emphasis on safety, the industry might have to adjust to a new normal.
Pointing to record profits and unprecedented gasoline prices, President Obama and congressional Democrats want to end subsidies to the oil and gas industry. Republicans and the industry say that would harm the economy.
President Obama called Wednesday for a one-third cut in oil imports, to be achieved by increased domestic production, alternative energies, and higher fuel efficiency.
In recent weeks, the price of a barrel of oil has stayed at about $100 a barrel, and gasoline prices have been edging closer to $4 a gallon. The costs are apparently due to events half a world away, in the Middle East. Even though plenty of oil is around, there is fear of further disruptions, and consumers, business people, and politicians have all been making adjustments. Here are eight ways that higher energy prices are starting to affect America.