A new film starring Matt Damon presents American oil and natural gas producers as money-grubbing villains purportedly poisoning rural American towns. It is therefore of particular note that it is financed in part by the royal family of the oil-rich United Arab Emirates. The creators of Promised Land have gone …
Responding to record-high gas prices and a potential for further disruptions in supply, Sen. Chuck Schumer (D-NY) on Monday requested that the State Department pressure Saudi Arabia to increase its oil production. The senator’s concerns are twofold: “Schumer called on the State Department to press the Saudis to publicly commit …
Russian Prime Minister Vladimir Putin announced that his country, the world’s leading oil and gas producer, plans to work closely with the Organization of Petroleum Exporting Countries (OPEC), the oil cartel. Russia has long spoken about linking up with OPEC, but at this point the extent of its participation has …
The United States lacks effective energy policy responses in the event of a major oil crisis. This was the conclusion reached at a recent simulation by Securing America’s Future Energy. Little surprise here: We arrived at the same conclusion in three energy simulation exercises conducted at The Heritage Foundation in …
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 …
