accounting for more than 30 million barrels in daily production"
"the U.S. once again became a net exporter of gasoline, something that hasn't occurred in half a century.
Until recently, nearly all of those exports have targeted our neighbors in Canada, Mexico, and even Brazil.
Our exports of petroleum products to each of those countries have more than doubled (even tripled, in the case of Brazil) during the last five years:"
OPEC command of 81% of the world's oil reserves, Gay_Boob this means they control the downward pressure on oil prices., EXMP: if the US produces a million barrels more, they cut a million, get it Gay_Boob?
Other reasons for higher oil prices are because the cost of new oil is rising, horizontal drilling and fracking is expensive, deep sea oil and unconventional oil like oil sands crude is also expensive oil.
Last but not least and causing great consternation to the righties, the world economy is recovering, that means more demand for gas and diesel, which means higher prices.
Thank You President Barrack Obama for saving us from the perils of the R. caused greater depression.
How exactly is your worship for Obama relevant to this stock?
Why don't you take your propaganda machine somewhere where you actually own shares? Or send him a valentine and invite him to the prom if you like, but keep his response to yourself because I doubt anyone here really cares.
Oil will always be a PART of the energy mix, it isn't an either/or choice.
Yes, there is an environmental price to pay for alternative energy sources, but we need alternatives for other reasons than purely environmental, the worlds decline in reserves of cheap crude coupled with the increasing demand for fuel from developing third world countries, with a combined population of two and a half billion (2,500,000,000)China and India comes to mind, makes alternatives not only viable, but critical.
This year you will see CNG taking a larger share of the US big rig fuel market, as more CNG engines are made and more CNG fueling stations come on line.
Like I have stated before I would rather see more nuclear plants than the tens of thousands of eye soars caused by solar and wind structures.
Choices are limited and the one picked doesn't necessarily mean the chosen one will solve all problems, more often the meaning will be it was the better choice of what was available..
Kind of like politicians, you have a limited choice, Obama or Mitt head.