Countries like China and India which leverage their oil use to a greater extent with more coal use are less affected by a rise in oil prices – Tverberg writes. It's one reason why jobs are moving to China and India, and away from the US.
The Justice Department’s criminal settlement with BP gives their top executives a free pass — allowing the public to believe justice has been done, Reich writes.
BP reached a settlement with the US government Thursday to pay $4.5 billion in criminal fines and penalties for the 2010 oil spill in the Gulf of Mexico. Critics calls the BP settlement a slap on the wrist.
Throughout election 2012, President Obama has promoted an America dependent on a diverse energy portfolio, rather than the volatile global oil market. What does his reelection mean for energy?