The Obama administration fired a top scientist, intimidated other staff, censored important information from Congress for political reasons, and waged “a reckless and calculated attack on the legislative process itself,” U.S. lawmakers concluded in a blistering new report about Obama's scandal-plagued Department of Energy. All of it was done in order to advance Obama's controversial “climate-change” agenda, according to congressional investigators. It is time for some serious changes in management at the U.S. Department of Energy, members of Congress declared. But even that is not nearly enough to remedy the damage unleashed by Obama via the unconstitutional bureaucracy.
With so many moving parts, it's no wonder the U.S. Energy Information Administration can't forecast the future of oil and gas.
Radical environmentalists who are trying to stop the completion of a pipeline through North Dakota won a reprieve when the Army Corps of Engineers took back a previously issued permit for political reasons. It's likely to be short-lived.
Standing at a distance, OPEC's agreement looks fragile at best, unenforceable at worst. Translation: Oil prices are likely to continue to decline over time.
Saudi Arabia's oil minister is disconnected from the new reality, claiming that OPEC will be able to stabilize markets and raise prices.
The coming renaissance in energy will likely exceed most observers' expectations, as Donald Trump is picking persons for his administration who will allow the energy sector to breathe.
At noon on Wednesday crude oil futures touched $45 a barrel on news that inventories soared last week by the most in 34 years, and the futures market is likely to continue its breathtaking selloff to $40 and perhaps even lower.
OPEC is in a game it initiated and that it can't win and can't quit. In the process, OPEC is becoming increasingly irrelevant while U.S. producers are pushing ahead.
Hoist by their own petard? (A petard is a small bomb used to blow up fortifications, an especially apt expression at this moment.)