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Oil prices have declined sharply over the last six months, with the U.S. benchmark closing below $50/barrel on Jan. 6th, for the first time since 2009. A number of factors have contributed to this fall in prices, including an increase in U.S. tight oil production and decreased global demand. Beyond the immediate financial benefits of lower fuel prices for U.S. consumers, the falling price of oil raises several policy questions. Impacts on financial markets and geopolitical tensions that could be exacerbated if the low price persists are only a few of the potential issues U.S. policymakers may find themselves dealing… [more]View Insight
Fuel Freedom Foundation
Americans have many choices that are denied to citizens of other less-fortunate nations. But we forget how many decisions are made for us, sometimes out of necessity, such as paying taxes; sometimes out of greed, such as the monopolistic actions of oil companies in denying many Americans the ability to purchase alcohol-based fuels at their corner gas station. Through various rules imposed on gas stations, oil companies limit many of us from using existing, safe, alternative fuels, like E85, and make available only more expensive, environmentally harmful gasoline. For example, gas stations owned or franchised by an oil company have… [more]View Insight
Last week Governor Dave Heineman of Nebraska approved the Keystone XL pipeline along a revised route, “which avoids the environmentally-sensitive Sand Hills region of Nebraska.” The final decision now rests in the hands of President Obama, who last year rejected the previous route on grounds that construction of the pipeline and the possibility of a spill could contaminate the Ogallala Aquifer in the Sand Hills region. For many environmentalists and opponents of the Keystone XL project, however, this revised route doesn’t address the bigger climate argument: Due to the high level of greenhouse gasses emitted during production of oil from… [more]View Insight