Dependency on Middle East Energy

US consumers rely on 19.63 million barrels of crude oil and 78 trillion British thermal units of natural gas per day for transportation and electrical power generation. A few years ago, those staggering amounts were priced at more than twice today’s level. The lower prices are a result of US fracking and horizontal drilling. Those […]

Crude Exports Should Start Soon

If the subject were export of materials such as scrap iron, timber, iron ore or electric power, there would be no political backlash.  Indeed, improvements in our balance of payments and the creation of even a few jobs would be applauded.  But for crude oil exports, it’s different. A rational and public consideration of crude […]