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  • oil production

    Ecuador: Chevron Trial Illustrates Poor Investment Climate

    Press coverage of the just-concluded testimony phase of a racketeering trial in a New York federal court provides an excellent recent illustration of the behind-the-scenes maneuvering by President Rafael Correa of Ecuador and his government that has created disillusionment and a climate of mistrust among international investors. Two years ago … More

    We Are Drilling, Baby! U.S. Passing Saudi Arabia in Oil Production

    What do you know—“Drill, baby, drill” is working. Thanks to new smart-drilling and production technologies (including hydraulic fracturing), the U.S. is the leading liquid fuels producer in the world and will soon be the world’s largest producer of petroleum. And we would be even further in the lead if we … More

    Great Green Fleet = Big Red Ink

    It seems that Washington has a mandate, subsidy, or loan program for every bad idea. Today’s example is military biofuels. Just this spring, the Defense Department issued another multimillion-dollar set of contracts for firms to develop refineries whose biofuels, in theory, would not be that much more expensive than conventional … More

    Free-Market Opportunities Propel North Dakota to Top Job Creator

    North Dakota led the nation in job creation in 2012, according to a new report released by Gallup. The state has an unemployment rate of 3.2 percent, the lowest in the country according to the Bureau of Labor Statistics. That’s largely due to the energy boom created when new fracking … More

    EPA Argues for Subsidizing Domestic Oil Production

    The Environmental Protection Agency’s world is chock full of external costs and external benefits that it must rectify with taxes, subsidies, and regulations.  For instance, to cure this world of CO2-itis, the EPA, along with the National Highway Transportation and Safety Administration (NHTSA), recently released the latest version of the … More

    Chart of the Week: Household Income Soars In Energy-Producing States

    North Dakota’s energy boom helped the state surpass California and Alaska to become the No. 2 oil-producing state in America. But oil isn’t the only thing that’s booming. Household income rose faster in North Dakota than any other state between 2005 and 2010. Only the District of Columbia — home … More

    North Dakota's Oil Boom in Pictures

    The combination of energy production and job creation is potent force. It’s one reason a bipartisan majority in the U.S. House today approved the Domestic Energy and Jobs Act, legislation that would increase access to America’s resources and spur job creation. With the national unemployment rate still stuck above 8 … More

    A Fracking Miracle: North Dakota's Bakken Boom (VIDEO)

    “The North Dakota Miracle.” That’s what it’s been dubbed by many. The recent boom of the Bakken oil fields—made possible by a perfect storm of sensible state regulations, the often maligned fracking process, and the fact that most drilling is taking place on private lands—has produced a whirlwind of economic … More

    North Dakota's Economic Boom Inspires Action on Energy Legislation

    The U.S. House will vote next week on a package of energy and jobs bills Republican leaders say will help lower the price of energy and boost economic growth. The Domestic Energy and Jobs Act combines seven energy-related bills aimed at boosting energy production on federal land. House Majority Whip … More

    Production of Oil, Gas and Coal on Federal Lands Sinks to Nine-Year Low

    Last fall the U.S. government’s Energy Information Administration reported a 40 percent decline in oil and natural gas production on federal lands compared to 10 years ago. The White House and a prominent liberal in Congress protested. They said EIA, a trusted source for reliable energy information, was wrong. They … More