Oil & Energy News
Reports on oil drilling, pipelines, and energy policy debates. Conservative analysis and commentary included from The Daily Signal.
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- Opinion
Solyndra, Fracking Boom Prove Private Sector, Not Government, Best at Picking Energy Winners
If you’re like most Americans, you’re enjoying the fact that it costs a lot less to fill up your car’s gas tank these days. If you’re a fan of big government, you may feel a bit ambivalent, though. Why? Because one of the biggest drivers behind the drop in gas prices is the rise in…Ed Feulner -
- News
Operation Choke Point: 7 Real Life Stories From Vegas
LAS VEGAS — What does the gun industry think of Operation Choke Point? Last week at the 2015 Shot Show, which is the industry’s largest trade exhibition, The Daily Signal asked attendees what they think of the controversial government initiative. The program, which was designed by the Justice Department in 2012, has been criticized for…Kelsey Bolar -
- Opinion
Repealing the Jones Act: Good for Energy, Great for America
On January 13, Senator John McCain (R–AZ) filed an amendment to S. 1, the Keystone XL Pipeline Act, that would repeal part of a 95-year-old protectionist policy that does not allow foreign seagoing vessels to engage in trade between United States ports. Though it ultimately did not go to a vote, McCain’s amendment would have…Marshal Wilson -
- Opinion
Steep Decline in Price of Oil Plays into Congressional Budget Outlook
The recent decline in gas prices has not only left a little more cash in Americans’ pockets, it has contributed to a sizeable increase in economic output. According to the Congressional Budget Office’s (CBO) annual report, Budget and Economic Outlook, the decline in oil and gas prices that occurred between August and December of 2014…Rachel Greszler -
- News
How Much is Your State Paying for a Gallon of Gas? This Cool Map Will Show You.
What is the average price of gas in your state? Researchers at Debt.com have put together a map to show you. Debt.com’s interactive map allows users to see their state’s average gas price-simply by hovering their cursor over the state. Clicking a state will show you its average price for the last 10 years: You…Kate Scanlon -
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Is $5 a Gallon Gas on Its Way? This Expert Thinks So
You might want to consider filling up your tanks, America. One expert is warning $5 per gallon gas is on its way. John Hofmeister, the former president of Shell Oil, warns that we should “[e]njoy the price, because it’s going to go back up.” “The next round of high prices is likely to start later…Kate Scanlon -
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Is It True That Low Gas Prices Hurt the Economy?
Low prices at the pump are good for consumers, but are they hurting the American economy? Though oil prices fell below $50 per barrel as of Monday, Jack Gerard, CEO of the American Petroleum Institute, the largest U.S. lobbying arm for the oil and natural gas industry, expressed little concern. Speaking at the annual “State…Kelsey Bolar -
- News
As Gas Prices Tumble, States Feel Pinch of Less Tax Revenue
Reduced gasoline prices are good news for drivers across the country, but they’re causing headaches for budget directors in oil-producing states who are now revising their numbers downward and hoping prices stabilize quickly. “I haven’t seen anything this rapid in my time,” Oklahoma Finance Secretary Preston Doerflinger said. “I don’t think we’ve seen anything in…Rob Nikolewski -
- Opinion
Whether Gas Prices Are High or Low, Lift the Ban on Crude Exports
Gasoline prices continue to drop across the country with the national average falling to $2.50 per gallon. Are low prices good or bad for the prospects for lifting the ban to export crude oil? The reality is it shouldn’t matter because energy free trade will benefit the United States in both the near term and…Nicolas Loris -
- News
In These 13 States, Gas Is Selling for Below $2 a Gallon
Just two weeks ago, a sole gas station in Oklahoma swept headlines for dropping gas prices below $2 a gallon. Today, 13 states have joined that list, and the trend is expanding. Gas for less than $1.90 a gallon can be found in at least one station in Oklahoma, Louisiana and Ohio, according to CNN….Natalie Johnson -
- Opinion
CRomnibus Perpetuates More of the Same: Government Meddling in Energy Markets
Who needs another stimulus bill or legislation handing out taxpayer dollars for energy efficiency when they can be stuffed into the Cromnibus like a Christmas stocking at the end of the year? The Department of Energy’s budget is much of the same: bureaucrats will be spending money they shouldn’t on activities the private sector should…Nicolas Loris -
- Opinion
Feeling Better at the Pump? Since 2008, America’s Oil Supply Has Grown by 50%
If you're like most Americans, you haven't been questioning the welcome drop in gasoline prices. You just fill 'er up and feel grateful that you're spending less. Why has this remarkable drop come about? And what can we do to help keep prices lower? Some of it, unfortunately, is beyond our control. Worldwide demand for…Ed Feulner -
- Opinion
Chart of the Day: U.S. Oil Production by the Numbers
As news stirs around OPEC's decision to not cut oil production, we've pulled together the chart below with a closer look at the surging production in the United States. Energy expert Nick Loris, the Herbert and Joyce Morgan fellow at The Heritage Foundation, argues that even if OPEC had decided to cut oil production, it wouldn't be a…Kelsey Lucas -
- Opinion
Even If OPEC Had Decided to Cut Oil Production, It Wouldn’t Be a Huge Deal. Here’s Why.
As oil prices decline, the Organization of Petroleum Exporting Countries has decided not to cut oil production. OPEC’s production decision is not a new one. And the group of oil-producing nations could very well announce a cut in oil supply in the future if oil prices continue to fall. Either way, the price impact from…Nicolas Loris -
- News
Are Libertarians a ‘Spoiler’ for the GOP? Here’s John Stossel’s Take
Republican candidate Ed Gillespie trails Democratic Sen. Mark Warner by 16,727 votes in Virginia’s razor-thin U.S. Senate race. It’s so close the Associated Press won’t call it. The margin between Gillespie and Warner is much smaller than the 53,396 votes for Libertarian Robert Sarvis. So, was Sarvis a spoiler? On Thursday’s Varney & Co. on…Kate Scanlon -
- Opinion
The True Reason Gas Prices Are Falling (Hint: It’s Not Because of Green Energy)
American workers and motorists got some badly-needed relief this week when the price of oil plunged to its lowest level in years. The oil price has fallen by about 25 percent since its peak back in June of $105 a barrel. This is translating to lower prices at the pump with many states now below…Stephen Moore -
- Opinion
Governor Jindal: Energy Exports Help the U.S. Domestically and Diplomatically
Louisiana Gov. Bobby Jindal recently spoke at the American Enterprise Institute to introduce his vision for defense policy. He pointed out that America has a tool at its disposal that isn’t the traditional weapon or diplomatic position: America’s vast energy supply. Jindal said energy exports can strengthen ties with allies who need energy and can counterbalance…Thomas Lee -
- Opinion
5 Policies That Would Make Gas Cheaper
Sick of paying too much at the pump? If you are, there’s good news: There are policies Congress and the Obama administration could implement that likely would lead to lower prices. If you’re looking to lower gas prices, first look at crude oil prices. Crude oil contributes the largest component to the price of gasoline….Nicolas Loris -
- News
This One Policy Switch Could Make Gas Way Cheaper
For nearly 40 years, there’s a been a ban on exporting crude oil from the United States to other nations in the world. Now, a just-released study from a liberal think tank says lifting the ban could boost the U.S. economy between $600 billion to $1.8 trillion and save motorists up to 12 cents a…Rob Nikolewski -
- Opinion
The Crazy Turmoil That Could Have Happened If Scotland Voted to Be Independent
Great Britain can breathe a huge sigh of relief. The people of Scotland voted Thursday to remain a part of the United Kingdom. This is great news not only for Britain, but also for the United States. The United Kingdom of Great Britain and Northern Ireland is America’s closest ally on the world stage. The…Nile Gardiner