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American Airlines

Here’s why air fares aren’t going down, despite cheap fuel

Drivers are loving life whenever they fill up at the gas station. According to AAA’s Daily Fuel Gauge Report, the national average Thursday was $2.477 for regular 87-octane gas. That’s down 23 percent from the same time last year, when the average was $3.216. So why haven’t air travelers seen similar savings on airline tickets? After […]

fracking-NY

New York state bans fracking, citing health concerns

New York state has banned hydraulic fracturing, the drilling technique known as fracking, citing risks to the state’s air and water, as well as other potential harmful effects on people’s health. The decision was announced by the administration of Gov. Andrew Cuomo, who had sent mixed signals previously about his intentions. The New York Times […]

Obama

WaPo: Falling oil prices aid Obama on foreign policy

The Washington Post has a story about what falling oil prices has achieved for President Obama’s foreign-policy goals: The precipitous fall in oil prices, which is hammering countries heavily dependent upon oil exports, could prod Russia into abiding by a ceasefire in Ukraine, make Iran more pliable in talks over its nuclear program, undercut Venezuela’s […]

Bristol

Alaska’s Bristol Bay placed off-limits from oil, gas drilling

President Obama on Tuesday pulled Alaska’s Bristol Bay from consideration for federal oil and gas leases. As AP reported: The decision announced Tuesday under the federal Outer Continental Shelf Lands Act means no leases will be sold for petroleum drilling in the area. The bay provides 40 percent of America’s wild seafood and supports up […]

rusty-barrel

Crude falls again, IEA cuts outlook for demand growth

The price of oil continued falling Friday: Brent crude, the international standard, dropped nearly $2, to $62. U.S. WTI crude dropped $2.14, to $57.81, its lowest price since May 2009. A story by Reuters and CNBC notes that the International Energy Agency is predicting further downward pressure, owing to slack demand: The IEA, which coordinates […]