A joint US-Israel missile test Tuesday boosted oil prices and renewed worries that a spread of conflict in the Middle East could block oil supplies. If oil prices continue to rise, would the US tap emergency oil supplies to avoid damaging a fragile economic recovery?
With oil prices jumping at the thought of a looming military strike on Syria, it’s worth recalling what a back-up supply from the US Strategic Petroleum Reserve can and can’t do, Styles writes. The reserve could prove extremely helpful should a military strike on Syria occur.
We have talked about the concept of ‘energy security’ so much that it no longer means anything, Holland writes. It is time to retire the term.
The US energy boom will boost jobs and capital spending, cut imports and carbon emissions, according to a new report. But the energy boom is not a panacea for the climate –or US foreign policy.
One hard truth: The era of cheap oil is over. Even the recent glut of US oil and gas was driven by high prices, which gave industry the incentive to use expensive, risky drilling technology.
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.
Total petroleum deliveries for August 2012 were at their lowest level for the month in 15 years and domestic oil production followed similar trends, according to OilPrice.com.
Gas prices are set to decline even without a release from the Strategic Petroleum Reserve. Temporary factors that have pushed up gas prices are now ending.