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 Oil Release: Low Budget Shock & Awe

A surprise release of 60 million barrels (30 million from the US) pushed crude oil prices down for a little while yesterday.  Already prices are recovering and some think prices will tend higher than they would absent the surprise.  The obvious question is why deplete our Strategic Petroleum Reserve (SPR) when there’s no actual emergency? […]