for Oil Imports
A combination of high demand growth and declining production in China puts extra emphasis on projects like the Myanmar pipeline as the country looks to improve energy security.
While output in the Bakken has held up relatively well, it is set for a dramatic decline, making East Coast refineries further dependent on imports.
While now is a time of unique challenge for OPEC and the future of the organization is up in the air, this is not the first time the cartel has faced external threats.
As the shale boom stalls and demand rises, Congress's willingness to sell oil from the Strategic Petroleum Reserve reflects the fact that lawmakers have grown complacent on energy security.
Russian sanctions have isolated the country from the West, but they have not changed President Putin’s overall strategic vision.
China’s forthcoming launch of a crude futures exchange to be traded with the yuan is another major step to cement itself as a global economic powerhouse and challenge the U.S. currency’s dominance in oil markets.
Kleinman: There’s no market rationale for U.S. crude exports, now that the Atlantic basin is glutted with supply and the differential between U.S. and global oil prices has narrowed.
There’s been a twist in the narrative of falling US oil production. US crude output continues to defy expectations, with the latest government data showing that output actually rebounded in July.
Even as the Blue Dog Democrats get on board, the odds that Congress will reverse the ban on crude oil exports remain slim in the hyper-partisan campaign season.
Presidential candidates for 2016 have talked immigration, taxes, jobs, social issues, and foreign policy, but critical energy issues have not been on anyone’s radar.