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As Americans focus on a contentious presidential election between diametrically opposed candidates, an issue that’s challenged the last eight presidents combined remains, and this is its “addiction” to its monopoly energy source, petroleum. Since President Richard Nixon, the call for “energy independence” has been described as having potential to profoundly shape the U.S. economy, culture, […]

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Those who control a large portion of the world’s oil aren’t concerned about EVs. We’re half a decade into an era of having EVs on the road in significant numbers, and more EV models are planned for the near future, but the Organization of the Petroleum Exporting Countries, better known as OPEC, doesn’t seem too […]

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When listing advocates of the U.S. ethanol industry, those who normally spring to mind include farmers, processing facilities, environmentalists – and not an organization like OPEC. But that may be what’s unfolding now, according to Reuters, with the Organization of the Petroleum Exporting Countries (OPEC) becoming an “unlikely ally” for the Obama administration and its […]

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Officials with the Organization of the Petroleum Exporting Countries don’t believe oil prices will rise above $100 per barrel for the next 10 years, according to inside sources. This report comes from The Wall Street Journal, which saw excerpts of OPEC’s strategy report and interviewed others that had seen the full report. “The report predicted […]

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The Secretary-General of OPEC predicted that oil prices have hit the bottom and will begin surging towards $200 a barrel, though he didn’t estimate a timeline for the price increase. The current prices of $45 to $55 a barrel denote the market’s bottom, said OPEC’s Secretary-General Abdulla al-Badri. The drop in oil prices have resulted […]

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