Releasing 30 million barrels of petroleum from strategic reserves is not an energy policy, and it is not an especially useful response to either short-run or long-run pressures on gasoline prices. Because the release is scheduled to stop in 30 days, market adjustments will partially offset the release’s impact in …
Doesn’t the Department of Energy (DOE) have enough needless programs and spending projects on its plate? DOE recently announced that it is launching a new program in cahoots with the Consortium for Energy Efficiency in which they will award the producer of the most efficient television. Producers will compete internationally …
When it comes to making bad energy policy decisions, President Obama is a pro. Yesterday was no exception when the Obama Administration announced it would release 30 million barrels of oil from the Strategic Petroleum Reserve (SPR). This is part of an agreement with the International Energy Agency (IEA) to …
Once delivering 2.1 million barrels of oil a day to the United States, the Trans-Alaska Pipeline, one of the world’s largest pipeline systems, now carries about one-third of that. Although the pipeline collects oil from several fields, falling production in those fields could eventually cause the pipeline to shut down. …
Among the many broken pieces of America’s offshore energy policy is the split between federal and state government royalty revenue. Implementing an even split would go a long way to encourage more offshore oil and gas production and promote states’ rights. Currently, in offshore waters where drilling occurs, coastal states …
President Obama’s infamous words—saying electricity rates will “necessarily skyrocket” under his cap-and-trade program that would impose a costly energy tax on American consumers—are set to come true. Just ask the market. Although cap and trade is not law, the Environmental Protection Agency’s (EPA) backdoor train wreck of energy regulations is …
President Obama has often said that we need more oil and gas drilling in the United States, but rarely have the Administration’s actions matched his rhetoric. In his weekly video address, however, the President called for more lease sales in Alaska’s National Petroleum Reserve, extended leases in the Gulf of …
With the current debate over ending oil producers’ subsidies the question arises as to what subsidies do the producers actually get. It is a surprisingly complicated question. Wind producers also get subsidies that take complex forms—investment tax credits, production tax credits, mandates, property tax exemptions, etc. But the major federal …
The invaluable Alaskan oil pipeline isn’t doing well these days. A remedy to help fix this precious resource is available but overzealous environmentalists and over-regulatory politicians are standing in the way. The ever-decreasing amount of oil flowing through the pipeline is disrupting its effective operation — and threatening its very …
