The oil and gas industry's deceptive campaign to make the public and policymakers believe that the United States is on the verge of energy independence is just a smokescreen for selling the country's oil and natural gas to the highest bidder, Cobb writes.
New advancements in drilling have opened up a wealth of natural gas resources in the US. But how much is too much? A shift to exporting natural gas might be a no-brainer, according to OilPrice.com, but it's not as simple as it sounds.
A decrease in crude oil stocks reported by the US Energy Department could be a sign of a rough future for energy markets, according to OilPrice.com.
Reports from the Energy Department released this week show that overall crude output in the US rose 3.7 percent to 6.5 million barrels per day by the week of September 21, according to Consumer Energy Report.
Each year a dwindling global pool of exports has been generating ever greater competition among importing nations and has become a largely unheralded force behind record high oil prices, Cobb writes.
Europe wants to escape Gazprom's stranglehold by diversifying into shale gas. But Gazprom is throwing up obstacles.
Oil prices belie the industry's story of continued abundance in oil supplies.