Tag: "oil prices"

Congress Fast-Tracks Keystone XL Pipeline

A very overly political move in both chambers of Congress is happening right now. The House of Representatives pushed forward the approval of the Keystone XL pipeline last week. The Senate is planning to vote tomorrow on whether or not to approve the pipeline. President Obama has given many indications that he will veto the bill when he gets it. At this moment, both houses lack the two-thirds majority to override a presidential veto, at least during the rest of this year and the lame-duck session.

However, Senate Majority Leader Reid plans to go forward with the vote to allow the struggling incumbent senator Mary Landrieu from Louisiana, a chance to vote for the approval of the pipeline and boost her numbers in the runoff election for her Senate seat. Hopefully next year will be a different story for Keystone XL pipeline. Maybe one which does not involve such silly political games and one that shows a rigorous debate on approval of the pipeline and a decent chance to pass it without the threat of a presidential veto.

Nov 17, 2014 | 4 comments | by

Another Call to Export American Energy

Yet another “call”, this time from Roll Call, to export energy from the United States and joins many who support lifting the ban and regulations on our energy industry to export. With the U.S. now producing more oil and natural gas than Russian and Saudi Arabia, over 11 million barrels a day, lifting the U.S. oil export ban would:

  • Add over $1 trillion in government revenues by 2030.
  • Reduce fuel prices at the pump.
  • Create 300,000 more jobs a year.

The current hydraulic fracking and American energy boom is reducing oil imports by 22 percent next year. Also, this American energy boom could also reduce the oil imports of European countries. The United States could replace Russia title as “Europe’s gas station” and provide all of Europe’s energy needs.

Oct 20, 2014 | 7 comments | by

Oil Prices Drop from U.S. Output, Despite Global Gitters

Price per barrel of oil has dropped $25 a barrel or 23 percent in three months to about $85 a barrel.

Lowest average gas prices:

  • The state of Missouri has the slowest gas price at $2.88 a gallon at the pump.
  • The city of St. Louis, Missouri has the lowest gas price at $2.82 a gallon at the pump.
  • Other states with low gas prices include: South Carolina, Oklahoma, Tennessee and Mississippi.

Lowest price per barrel since 2010, implications in the news:

Oct 15, 2014 | 3 comments | by
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