Gas prices will rise dramatically in the near term, analysts predict. Many attribute it to a rise in oil prices, but the gas prices spike has more to do with gasoline fundamentals, writes Styles.
Oil prices spiked above $102 a barrel Wednesday as protesters poured into the streets of Cairo and the Egyptian military ousted President Mohammed Morsi. Egypt is critical to regional oil transportation and has investors worried that protests could spread elsewhere in the region.
Fourth of July celebrations just got a bit more festive with a recent drop in gas prices. If it lasts much beyond the Fourth of July will depend on turmoil in Egypt and across the Middle East, the economy, and especially hurricane season.
A new website from the US Department of Energy compares the energy costs of driving an electric car relative to gasoline prices. The tool might prove useful, Styles writes, but only as long as it is grounded in the best information we have about the vehicle choices that potential electric car buyers are actually considering.
With cleaner-burning natural gas cutting into the US electricity mix, American coal companies have found an eager customer in the East, fueling urbanizing economies in Asia with cheap steelmaking coal. It's why coal export terminals are emerging as a flash point in the fight against climate change.
Last week a California utility announced it would close the San Onofre Nuclear Generating Station. That closure, along with the shutting down of other nuclear plants, will have serious consequences for consumers and slow efforts to reign in greenhouse gas emissions, Styles writes.
Weak economic growth in the US has led to a dramatic decline in motor gasoline demand, Gagliardi writes. Not only has gasoline demand been weak since 2009, it has been successfully lower roughly each year to year the date in 2013.
Shale oil and gas have revitalized the US energy industry and could do the same abroad, a new EIA report suggests. But oil and gas drilling will depend more so on market forces, than on geologic facts.
We are in a far better position now to consider scaling back our use of ethanol produced from grain biofuel than we were when the EPA biofuel rule was established, Styles writes. With shale gas, tight oil and various renewables, the energy scarcity that has defined our policies for the last four decades is far less relevant to our policy choices going forward.