The Key line from this American Interest Post

Glenn linked to a post at the American interest about the price war in oil & the problem for non-Saudi members of the cartel: The Saudis have the funds to make up for the budget shortfalls cheap oil is foisting upon them, but the rest of OPEC isn’t anywhere near as well prepared. Nigeria, Iran, … Continue reading The Key line from this American Interest Post

Venezuela and the falling oil price

Depending on the estimate, Venezuela needs to sell its oil between $150-$200/barrel. Estimate, becauseThe precise figure is difficult to determine, because Venezuela doesn’t disclose as much economic data as other countries do.To say "Venezuela doesn’t disclose as much economic data as other countries do" is an understatement; Venezuela has not submitted economic data to the … Continue reading Venezuela and the falling oil price

Wasting a Reverse Crisis

In the first volume of his still incomplete Magnum Opus on Lyndon Johnson The Path to Power on page 735 Robert Caro notes the election day theft of a US Senate Special election that LBJ thought he already had won was to a degree incidental, having little to do with Johnson or the US senate and … Continue reading Wasting a Reverse Crisis

Has Saudi Arabia finally been Checkmated?

Right now Oil prices are dropping faster than we've seen them drop in years. Oil prices sank again on Monday, giving consumers more of a break and causing a split among OPEC leaders about what action should be taken, if any, to halt the slide. The price drop has led to a near free fall … Continue reading Has Saudi Arabia finally been Checkmated?

Canada poised to outflank Obama on Keystone XL dithering

By John Ruberry President Obama may soon find out what how it feels to be un-upped by Canada in a hockey-style shootout. Since his inauguration nearly six years ago, Obama has been dragging his feet in regards to approving the Keystone XL pipeline. The proposed pipeline will bring much-needed petroleum from our friends in Alberta … Continue reading Canada poised to outflank Obama on Keystone XL dithering

Ecuador: Donziger guilty of fraud against Chevron

by Fausta Rodríguez Wertz Yesterday U.S. District Judge Lewis Kaplan found that New York lawyer Steven Donziger and his litigation team engaged in coercion, bribery, money laundering and other misconduct aimed at securing a 2011 verdict against the company in Ecuador. ... The judge concluded that Mr. Donziger and his team fabricated evidence, promised $500,000 to … Continue reading Ecuador: Donziger guilty of fraud against Chevron

Dueling Joe Kennedy Narratives

And now Dueling Joe Kennedys: Joe Kennedy of Joe for oil fame: "No one should be left out in the cold" Joe Kennedy Running in the 4th district “The cycle that allows cheap oil to trump tough choices has to stop” News Center 5 on Joe Kennedy providing low cost oil last winter “Last year … Continue reading Dueling Joe Kennedy Narratives

Ruptured Oil Pipeline in Montana

An Exxon-Mobil pipeline in Montana (just outside of Billings, near the Yellowstone River) ruptured yesterday. (NY Times story here.)  Crude oil spilled throughout the river and the land.  One hundred forty people in Laurel, Montana were evacuated; the oil poses a fire hazard.  Other pipelines to Billings were shut down. First things: I've been to … Continue reading Ruptured Oil Pipeline in Montana

Let’s play politics with the Strategic Petroleum Reserve

This is an asinine decision: The Obama administration will release 30 million barrels of oil from the Strategic Petroleum Reserve in an effort to offset oil supply disruptions in the Middle East, the Energy Department announced Thursday morning. It's the strategic equivalent of grinding the seed corn. I didn't like this talk during the Bush … Continue reading Let’s play politics with the Strategic Petroleum Reserve

Erick Erickson reminds us of just how short ten years…

...can be: In the Atlanta area, where I am, gas prices are up $0.77 from where they were a year ago. It is worth noting that Democrats have been politicizing and blocking expanded oil drilling for quite some time. Consider this: “Critics (of Arctic drilling), including Sen. John F. Kerry, D-Mass., say the drilling plan … Continue reading Erick Erickson reminds us of just how short ten years…

It not the enviorment they care about, it’s their view…

...as Little Miss Attila explains “I care, I care, I care: I want less drilling where the environmental standards are strictest, and more drilling where they are lax. La la la la la—I can’t hear you!” I suspect if she did 800 words on this it would be one of the most devastating essays you … Continue reading It not the enviorment they care about, it’s their view…

Little Miss Attila asks the question

and I really don't have the answer: Why is the Administration loaning money to Mexico to drill in the Gulf, while preventing companies from doing the same thing here? Is the administration's plan to create jobs in Mexico to stem the tide of people coming here? If so they didn't read this piece from USA … Continue reading Little Miss Attila asks the question

Say Thanks for Palin and the Tea Partiers for this one…

don't think for one minute that the president would be defying his leftist friends if he didn't need to recover from their pushback. In a move that could help win Republican support for other energy initiatives, President Obama will announce plans Wednesday to open large sections of the eastern Gulf of Mexico and an area … Continue reading Say Thanks for Palin and the Tea Partiers for this one…

She’s not just on facebook, Palin says Drill…

...at NRO: We rely on petroleum for much more than just powering our vehicles: It is essential in everything from jet fuel to petrochemicals, plastics to fertilizers, pesticides to pharmaceuticals. Ac­cord­ing to the Energy Information Ad­min­is­tra­tion, our total domestic petroleum consumption last year was 19.5 million barrels per day (bpd). Motor gasoline and diesel fuel … Continue reading She’s not just on facebook, Palin says Drill…

Under $25 over?

The president is putting on hold presidential orders put out by George Bush. One in particular is going to cost us. Less than a year ago this was a major issue and the majority of Americans Obama now presumes to lead wanted domestic production increased where possible while we continued to develop new alternatives. Is … Continue reading Under $25 over?