Saudi Arabia has a big advantage because its oil is cheap to produce and largely unregulated. The same cannot be said about the United States, where the shale oil industry is being slowly asphyxiated by the collapse in oil prices over the last two years.
There are signs the deep freeze in oil-industry spending is beginning to thaw.
Oil production in the nation’s lower 48 states has dropped by 800,000 barrels a day in the 12 months after it peaked, one of the biggest reasons why the world’s oil glut has eased.
California Atty. Gen. Kamala Harris has issued subpoenas to oil refiners as part of an investigation into unusually high gasoline prices in California during the last year.
What do Justin Bieber and Volkswagen have in common? Well for both of them, it’s definitely “too late to say sorry.” Read more →
Facing a multibillion-dollar deficit, Alaska’s governor has cut in half the annual checks that give all residents a share of the state’s oil wealth, but he kept enough money in place to award everyone a $1,000 payout.
It should be a time of celebrations, party hats, and road trips: Gas prices are expected to be their lowest for the Fourth of July weekend in more than a decade. Read more →
At a time of year when motorists expect gas prices to rise, prices have actually been falling, just in time for the Fourth of July when many will be hitting the road.
Here’s what VW owners need to know about buyback options.
The single most effective action that most Americans can take to help reduce the dangerous emissions that cause climate change? Buy a more fuel-efficient car. But consumers are heading in the opposite direction.
