With politicians debating legislation in the name of stopping global warming, it is imperative that the public read Scared to Death: From BSE to Global Warming: Why Scares Are Costing us the Earth.
For a limited time, Scared to Death’s chapter on global warming can be downloaded and read by clicking here: Scared to Death: Saving the Planet. [...]
According to a new Bureau of Land Management (BLM) report, vast untapped oil and natural gas resources exist on public lands in the U.S. These public lands are estimated to contain 31 billion barrels of oil and 231 trillion cubic feet of natural gas, but are are presently closed to energy production.
· Link to [...]
Posted by Daniel Kish
Today Congress takes up H.R. 6074, the “NOPEC” bill. In sum, the bill states:
“It shall be illegal and a violation of this Act… to limit the production or distribution of oil, natural gas, or any other petroleum product…or to otherwise take any action in restraint of trade for oil, natural gas, or any [...]
Thomas Pyle, president of the Institute for Energy Research (IER), issued sharp criticism of the Congress today for passing H.R. 6074 - better known as the ‘NOPEC’ - a bill intended to hold the Organization of Petroleum Exporting Countries (OPEC) liable under the Sherman Antitrust Act.
H.R. 6047 states: “It shall be illegal and a violation [...]
As gas prices climb, opponents of increasing domestic oil production are touting the following statistic to bolster their ‘no new production’ postion:
“Since 2000, drilling on land has increased dramatically – climbing about 66 percent– while gas prices continue to increase.”
What’s misssing? Here are the facts:
· Exploratory and development drilling has increased across the board since [...]
Source: Energy Information Administration
There are many components that go into the price at the pump for a gallon of gasoline. The biggest is the price per barrel of oil. And, as the price of oil has increased, that component has become a larger and larger percentage of gasoline’s total cost.
For example, the average price [...]
Source: Energy Information Administration, Financial Reporting System
The increasing global demand for crude oil has led to record-high prices and enabled major oil companies to post record earnings in recent years. Some lawmakers have decried the profits as excessive, calling for the enactment of a “windfall profits tax” and other fees and taxes to penalize the [...]
Congress Must Face the Law of Supply and Demand. Oil, gasoline, fuel oil, and heating oil and diesel fuel commodities traded in the world market and, therefore, their prices reflect the fundamentals economic principals of supply and demand. While much has been done to reduce demand for energy (CAFE, energy efficiency requirements in buildings, etc.) [...]
There are many components that go into the price at the pump for a gallon of gasoline, but the biggest component is the price of a barrel of oil.
For example, the average price of crude oil in 2007 was $72.34 per barrel. By March of 2008, the price of crude oil reached $105 per barrel, [...]
In the face of record crude oil and gasoline prices, many have called for suspending additions to the Strategic Petroleum Reserve (SPR). They argue that filling the SPR takes needed crude oil off the market and thus, suspending SPR fills will lower the price of oil and gasoline. Some have even quantified this savings in [...]
