oil prices posts, articles, and infographics

Petroleum Prices Set Records in 2011

January 11, 2012 by Geoffrey Styles
with 237 views

Without much fanfare, the Energy Information Agency of the US Department of Energy released a report on 2011 energy commodity prices yesterday. It confirmed that crude oil and key petroleum products set annually averaged price records last year. This largely snuck up on us, because it occurred without the kind of dramatic price spike we experienced in 2008 or in the oil crises of the 1970s. Prices rose early in the year, during the Libyan revolution, and they didn't fall much, subsequently. [read more]

Consumer Interest in Electric Vehicles: A Prediction for 2013

January 9, 2012 by James Greenberger
with 395 views

It is a little early to be making predictions for 2013, but here is one: Within 12 months the folly of tying the fate of light vehicle transportation to a single, vulnerable commodity will again become apparent to the American public. When that happens, consumer interest in PEV’s will move sharply in the other direction. [read more]

Keystone XL, One Head of the Hydra

November 25, 2011 by David Lewis
with 893 views

In ancient Greek mythology, the Hydra was a deadly monster that had many heads. If one was cut off two grew in its place. Killing Keystone XL won't stop Canada from developing its tar sand deposit. Even if no new pipeline crossing the US border is ever approved, US ability to import as much tar... [read more]

STUDY: Gasoline Demand Is More Price-Inelastic Than Commonly Thought

October 4, 2011 by Michael Giberson
with 369 views

A working paper from the UC-Berkeley Department of Agricultural and Resource Economics says that the demand for gasoline is more price-inelastic than typically thought. Here is the abstract, which points to publication selection bias as the culprit: One of the most frequently examined statistical relationships in energy economics has... [read more]

Next Up: The Battle for Libya’s Oil

August 26, 2011 by John Daly
with 250 views

Muammar Gadhaffi’s 42 year-old regime is in its death rattle – maybe today, maybe tomorrow, his administration that has ruled Libya with a quixotic and brutal hand is about to pass, in Trotsky’s piquant phrase, “into the dustbin of history,” prompting the question “what next?”The glittering prize is Libya’s 1.6 million barrels per day... [read more]

‘Tis the Season for Oil Company Misinformation

August 1, 2011 by Robert Rapier
with 510 views

In my travels around the globe, I have never been to another country that regards their oil companies as we do here in the U.S. I have actually been in countries where people view their domestic oil companies as a source of national pride. Here in the U.S., the average person on the street views our oil companies as vile, greedy... [read more]

Energy Crisis Prices Persist

July 22, 2011 by Geoffrey Styles
with 495 views

Watching oil prices is a hard habit to break, once formed. They're always moving up and down, sometimes for obvious reasons and sometimes not. It has probably escaped most observers' notice that the magnitude of this year's price moves has exceeded the total nominal price of oil that prevailed not many years ago, yet without the sort of... [read more]

Hedging the Risks of Selling Oil from the Strategic Petroleum Reserve

June 3, 2011 by Geoffrey Styles
with 263 views

I see that the administration has asked Congress to approve a non-emergency sale of oil from the US Strategic Petroleum Reserve (SPR), in order to allow a storage cavern to be repaired before it starts to leak. That's fine, as far as it goes, though the article I read suggested this would be done as a net sale into the market, rather... [read more]

The Cost of A Tougher Iranian Oil Boycott

June 1, 2011 by Geoffrey Styles
with 276 views

Today's Wall St. Journal (subscription required) includes an op-ed calling for a stricter US boycott of Iran than the current one that prohibits importing Iranian oil. The proposal from Reuel Marc Gerecht and Mark Dubowitz of the Foundation for the Defense of Democracies would go a step farther, barring the importation of petroleum... [read more]

Do Oil Consumers And Oil Producers Really Share The Same Goal?

May 31, 2011 by Rod Adams
with 269 views

Saudi Prince Al-Waleed bin Talal told CNN’s Fareed Zakaria that his country shares a common desire with oil consumers. They would both like oil prices to be lower. Prince Al-Waleed bin Talal indicated that the Saudis would like oil to be trading in the range of $70 to $80 per barrel instead of its current market price of... [read more]

CFTC Files Oil Market Manipulation Case

May 31, 2011 by Michael Giberson
with 376 views

At Streetwise Professor, Craig Pirrong examines the CFTC’s case against alleged oil market manipulators Parnon Energy, Arcadia Petroleum LTD and Arcadia Energy (Suisse), all affiliates of the trading firm Arcadia. Whatever the ultimate merits of the case, he says the CFTC is going to have trouble making the charges stick. In part the... [read more]

Scientists Create Ethanol From Hydrogen They Created From Ethanol

May 31, 2011 by Robert Rapier
with 251 views

Alas, today I had intended to put up my book review of Amanda Little’s book Power Trip, but I left the book on my desk in the office and I need to review some notes first. So that should be posted for my Thursday column. If you haven’t noticed, I have fallen into a pattern of putting up a new column each Monday and Thursday. Because... [read more]

Iowa E85 Sales Up 43% In 2010

March 11, 2011 by Mike Gregory
with 277 views

The Iowa Renewable Fuels Association (IRFA) today announced that E85 sales in Iowa reached an all-time high in 2010. According to the Iowa Department of Revenue, sales of E85 by Iowa retailers reached 9,311,908 gallons last year representing a 43% increase over 2009 sales. “E85 has been a great success for Iowa consumers and retailers... [read more]

Biofuels Groups Meet in Washington for Discussion and Capitol Hill Briefing

March 10, 2011 by Mike Gregory
with 182 views

The top trade groups representing the advanced biofuels industry in the United States met today in Washington, D.C. to continue industry-wide collaborative efforts begun last year aimed at improving communication among stakeholders while building a more cohesive industry to develop clean energy alternatives that strengthen our nation’s... [read more]

More People are Driving, But People Aren't Driving More

March 8, 2011 by Colin Peppard
with 695 views

Last week, I wrote about this year's uptick in nationwide driving rates. In particular, I asked whether the regions that had begun to invest more in a broader set of transportation options rather than ever-expanding highways might be bucking the broader trend. Especially paired with fuel prices that have been... [read more]