Although oil markets are bankrupting producers and draining government coffers from Moscow to Riyadh, plummeting costs are filling the pockets of ordinary consumers this year, right? Um, wrong, at least in California, where state government helps the refining industry keep gasoline prices aloft for months at a time.
With an ax rather than a scalpel, Australia’s federal science agency last week chopped off its climate research arm in a decision that has stunned scientists and left employees dispirited.
There’s an unusual new entry to the long list of reasons why Californians spent the last year paying significantly more for gasoline than other U.S. drivers: a mystery ship.
A Columbia University report commissioned by the American Petroleum Institute in 1982 cautioned that global warming “can have serious consequences for man’s comfort and survival.”
As oil and gas companies cut ever-deeper into the bone to weather their worst downturn in decades, boards have adopted contrasting strategies to lead them out of the crisis.
Californians used more gas during the last fiscal year than it has in recent years. In fact gas consumption rose 2.4 percent in 2014-15, the largest yearly increase since 2003-04, according to California State Board of Equalization Vice Chair George Runner.
Oil prices were down 2 percent on Monday as supply overhang concerns grew after a Saudi-Venezuela meeting at the weekend showed few signs of coordination to boost prices.
The combination of falling gas prices and the boomlet of higher-riding crossovers is forcing automakers to stop making certain passenger cars that don’t generate sufficient sales or profits to satisfy Wall Street or American consumers.
Current bargains at the gasoline pump make now an ideal time for the United States to increase its investment in clean energy through a tax on crude oil, President Barack Obama said Friday.
The United States is setting new milestones that suggest a fundamental, and possibly permanent, shift in its energy economy.
