They must be getting jittery. Fearing a political backlash over rising gasoline prices, US politicians have voted to halt deliveries to the 700 million barrel Strategic Petroleum Reserve.
About 700 million barrels of oil are stored in the underground reserve on the Gulf Coast, established after the 1973 Arab oil embargo to protect against supply cutoffs. […]

Yesterday, New York’s Senator Chuck Schumer, went on TV to say that there are two words that are the key to lower gas prices: “Saudi” and “Arabia.” According to the state’s Senior Senator, the US should withhold arms deals until the Saudis increase oil production.

OK, so the McCain/Clinton gas tax holiday idea would probably get some stiff competition, but its in the running, for sure.
It will encourage more driving, thus driving up demand, thus meaning higher prices. It will simultaneously discourage investments in alternatives, which are our only hope to end our oil addiction and get out of […]

Are the days of the SUV and large gas-guzzlers over? The New York Times reports how “Soaring gas prices have turned the steady migration by Americans to smaller cars into a stampede.”
According to the Times: “In what industry analysts are calling a first, about one in five vehicles sold in the United States was a […]

So you think you’re being ripped off by Big Oil? Spare a thought for the poor old American military in Iraq that is burning fuel at a staggering rate.
Military units pay an average of $3.23 a gallon for gasoline, diesel and jet fuel, some $88 a day per service member in Iraq, according to a […]