Hurricane Ike didn’t wreak as much havoc on coastal refineries as originally feared, but several days of operation were still lost due to the forced shutdown.  This drop in gasoline supply went hand in hand with long lines at the gas pumps in several states.  Yet the hurricane alone didn’t cause these gas lines:  only [...]

Investors around the world are selling the U.S. dollar because of the massive Wall Street rescue plans, which thus far total a whopping $1.8 trillion.  Oil is traded on a world market, with potential buyers and sellers having access to many currencies.  A falling dollar translates into more expensive oil and higher prices at the [...]

Yesterday the House embarked upon yet another in a long series of energy debates. Like its predecessors, this new energy bill, entitled the “Comprehensive American Energy Security and Consumer Protection Act” (H.B. 6899) does almost nothing to improve our energy situation. Further, the measure seems to increase costly regulation on buildings and imposing additional burdens [...]

Most people think that falling gasoline prices are a good thing, but not the Washington Post. The Post actually argues that higher gasoline prices are a good thing for America. This is not a joke. They write:
If oil prices keep going down, what will happen to all the progress the United States has just made [...]