What’s The Buzz?
5. We won’t be fooled again. As a nation, we have seen fuel prices rise and fall. While we are all enjoying low prices today, few of us expect them to last forever.
For the past seven weeks, the United States has been producing and importing an average of 1 million more barrels of oil every day than it is consuming. That extra crude is flowing into storage tanks, pushing U.S. supplies to their highest point in at least 80 years.
In what could be a modern-day record for election turnout in the SoCal city, Measure O was going down by a vote of 79 percent to 21 percent, at last count.
A bipartisan majority of U.S. senators were unable to reach the two-thirds majority required to undo President Obama’s veto of the Keystone XL pipeline on Wednesday. The vote was 62 to 37.
Orange County drivers, excited about cheap gasoline just a few weeks ago, are suddenly feeling the pinch as prices reverse course, rising 43 cents a gallon in the past week and more than $1 in the past month. Consumers are not happy about it. (Photo: David Sommars, on Flickr)
Although “all of the above,” as a slogan, was mostly created to bolster the domestic production of oil and gas, “all” meant then what it means today: A diversified energy policy that harnesses all that we have to offer.
Reuters reports that crude oil rose sharply on the last trading session of February, posting its first monthly gain since June. Brent crude LCOc1 rose $2.53 to $62.58 a barrel. February’s 18 percent gain was the biggest monthly percentage rise since May 2009. The Wall Street Journal reports that the oil-field services company Baker Hughes […]
Something amazing happened in the aftermath of the ethanol train derailment in Iowa. No fish died. At least none that we know of. Environmental officials in the state probably feared the worst after eight cars spilled ethanol following the Feb. 4 derailment north of Dubuque. The Associated Press quoted state Department of Natural Resources spokesman […]
“What can you expect from a movie that’s produced by a group whose advisers include a former CIA director, a onetime Shell Oil Co. president and a man who once headed the Rockefeller Foundation? If you answered, ‘a spirited defense of America’s oil industry,’ guess again.” Read the full story by Rudy Herndon of the Moab […]
The Washington Post has an interesting story about the impact of lower gas prices — meaning the overall price drop since June, taking into account the recent uptick — on consumers in Saudi Arabia. While the government might one day have to make a decision about lowering oil output, thus letting prices climb again, regular citizens […]