Articles Tagged: Organization of the Petroleum Exporting Countries (OPEC)

Raise Gasoline Taxes? Instead, Congress Should Lift The Ban On Oil Exports

It was predictable. Oil gets cheap and now there’s a contingent in Congress looking to slap a new tax onto gasoline. What’s surprising is that there are some conservatives in both Congress and the pundictocracy also receptive to the notion, including the estimable Charles Krauthammer. It’s a terrible idea. Instead of raising taxes, the Congress […]

What was the Biggest Energy Success Story of 2014?

The continued resurgence of North American oil production tops the list. Just a few decades ago the conventional wisdom was that US imports would continue indefinitely, that we would be hopelessly at the mercy of OPEC and that “peak oil” would soon bring the end of the age of oil. Those predictions have now been […]

OPEC: The Equivalent of the Wizard of Oz

Since the first embargo in 1973, energy officials and many members of Congress have accepted the notion that since OPEC is called a cartel, it must be one. In reality it is like the Wizard of Oz behind the screen. Its power comes from being seen as powerful. The reality is nothing like the image. […]

What’s the Impact of Falling Oil Prices? Only Time Will Tell

The history of oil prices is that they never rise forever and don’t fall forever. The current situation is partially the result of the oil renaissance in the US. Production has reached levels not seen since the early 1970s. This increase represents about 90% of the increase in global production this year. But, this increase […]

OPEC: The Myth and the Reality

On June 4, the Marshall Institute released a new paper by Institute CEO William O’Keefe, formerly Executive Vice President and Chief Operating Officer of the American Petroleum Institute, examining the role of OPEC in contemporary energy policy debates.  OPEC remains a highly influential symbol of the dangers of import dependence, but facts suggest its actual influence has […]

Wow, Even Tom Friedman Wants to Drill Baby Drill?

Can we talk about oil? Tom Friedman now evinces excitement about his discovery of the emergence of America as “a major oil and gas producer.” (See his Sunday New York Times column.) No kidding. He was, he says, tantalized by a tongue-in-cheek idea; the U.S. could join OPEC.

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