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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 [...]
I made my writing debut over at Foreign Policy this past weekend, writing a piece on Big Oil’s checkered attempts to fund clean energy. Perhaps unsurprisingly, I conclude that the major oil companies—while they may make some smart investments, especially in biofuels—will never be a revolutionary force for clean energy: What incumbent, after all, has [...]
Over at the New York Times, resident libertarian-contrarian John Tierney has a column about a bet he took in 2005 with the late energy analyst Matthew Simmons. Simmons—the author of Twilight in the Desert: The Coming Saudi Oil Shock and the World Economy—was a prominent believer in peak oil, the theory that we’ve reached the [...]
