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I have the cover story this week in the dead-tree/living table TIME, on the future of oil (available here to subscribers). Gas prices have dominated the political conversation for weeks—at least until the Supreme Court started its health care hearings—and with the summer driving season just around the corner, the national obsession won’t be lift [...]
As we mark the official start of the never-ending U.S. Presidential campaign with tonight’s Iowa caucuses, it’s worth remembering the one thing that politicians would be wise not to fiddle with during an election year: gas prices. One of the fastest ways to alienate voters is to be seen supporting anything that intensifies pain in [...]
The first time the U.S. released oil from the Strategic Petroleum Reserve (SPR) was in January 1991, as American bombers began the first Gulf War and gas prices spiked. The second release was on September 2, 2005, after Hurricane Katrina smashed refineries and pipelines along the Gulf coast. A war in the Middle East and [...]
Crossposted from Curious Capitalist You can practically set your watch by it. As petroleum prices soar—and with them, oil company profits and pain at the gas pump—sooner or later members of Congress will haul Big Oil executives into a hearing and Demand That Something Be Done. It happened in 2008, the last time oil prices [...]
