Crude oil prices bounced higher on Friday, as OPEC failed to raise production as much as many feared.
Oil ministers from OPEC and non-OPEC producers are already gathering in Vienna, Austria, in advance of what is touted to be one of the most contentious meetings in recent memory.
Citigroup announced last week that exports of crude and finished oil products from the United States would overtake Saudi Arabia’s by next year.
OPEC is no doubt rejoicing in its accomplishment of raising the price of crude oil by restricting output, but that rejoicing is likely to be short-lived.
The crown prince of Saudi Arabia has big dreams for his oil empire, which all rely on being able to sell a portion of Saudi Arabia's oil company for huge profits, but now he needs U.S. assistance to make them come true.
The old quip about fusion is that it’s the energy of the future — and always will be. But this joke may now have to be retired, as scientists have achieved a fusion breakthrough that promises cheap, unlimited, clean energy. Such a development is so staggering that it would represent a seminal point in man’s history.
America's hostile foreign enemies and large swaths of the U.S. “environmental” movement have something in common — and according to a new congressional report, it may be more than a coincidence. A stunning investigation by the U.S. House Committee on Science, Space, and Technology uncovered evidence that Russian agents have been pushing pseudo-environmentalist propaganda through social media. The goal: derail the ongoing American energy boom.
The U.S. oil industry is only too happy to fill the void OPEC deliberately created by attempting to raise crude oil prices.
The New American is not in the habit of making predictions, but these two are a slam-dunk: lower gas prices, and further fading away of OPEC's influence over them.