Some senators are working to overturn the Energy Policy and Conservation Act of 1975, which essentially bans the export of crude oil.
Because of fracking technology, oil is literally gushing in the United States. But what effect is this boom having and what can we expect to see in the future?
The Keystone pipeline may be irrelevant, as Canada may well approve receiving our Bakken oil through a workaround pipeline route.
Saudi Arabia's surprise announcement of a cut in its oil prices to its customers is likely to set off an international oil price war.