A pump jack operates in an oil field near Corpus Christi, Texas, U.S., on Thursday, Jan. 7, 2016. Crude oil slid Thursday to the lowest level since December 2003 as turbulence in China, the worlds biggest energy consumer, prompted concerns about the strength of demand. Photographer: Eddie Seal/Bloomberg via Getty Images

Amid talk of oil ‘collapse,’ prices are up 73 percent in 3 months

Media organizations and analysts who follow the oil industry have been playing their sad fiddles for companies that once posted jaw-dropping profits. Stories seldom focus on the global benefit that low oil (and gasoline prices) provide to consumers, who have enjoyed a $3 trillion “transfer of wealth” since oil was at $115 two summers ago.  Read more


Hofmeister: U.S. must not be victimized by ‘contrived’ oil market

The global oil trade is a “contrived market” not subject to the usual laws of supply and demand, and the United States has an “absolute requirement” to use alternatives if it hopes to wean itself off imported oil, former Shell Oil president John Hofmeister said during the keynote speech at the National Ethanol Conference. Read more