The announcement that the Obama administration would be stopping issuing new coal leases on federal land should catch no one by surprise. Obama promised to shut down the coal industry back in 2008.
OPEC's hopes that low oil prices, owing to its full-tilt pumping operations, would remove production in the United States' oil fracking areas continue to be dashed on the rocks of American ingenuity and opportunism.
Alaskans are soon to suffer the pain of falling oil and natural gas prices, since fossil fuel extraction has largely funded government for many years. by Bob Adelmann
In attempting to flood the world markets with oil and put many U.S. oil fracking companies out of business, OPEC overplayed its hand, and the world will continue to see low oil prices, even as OPEC's influence diminishes.
TransCanada Corporation's shrewd political ploy to avoid having the Obama administration judge the wisdom of a Keystone Pipeline expansion just might work. If it doesn't, it won't matter: Canadian crude will find its way to refineries somewhere, somehow.
It's premature for OPEC to conclude that its strategy to force American marginal producers out of the market is working.