OPEC

In 1890, to force the dissolution of cartels that had been formed in key American industries like oil, sugar and tobacco, the U.S. Congress passed the Sherman Antitrust Act.

American innovation has delivered a conclusive victory in one of the most significant economic battles of our time: the war against international oil price gouging.

This year, oil production in America is expected to reach an all-time high, close to 9.5 million barrels a day. Similarly, natural gas output is projected to reach a record 75 billion cubic feet per day by the end of 2017.

Instead of damning oil as evil, politicians and pundits should start questioning their blind faith in ethanol.

The EPA just threw out five years of fracking safety research to appease green extremists.

At the end of September, the Organization of Petroleum Exporting Countries (OPEC) surprised the markets by agreeing to a production cut.

Thus far, the Saudi royal family has maintained its highly oppressive form of government by pacifying its people with an extensive welfare state funded by oil money. But low oil prices brought about by hydraulic fracturing in the United States are forcing the monarchy to give the Saudi people more freedom in order to remain in power.

In episode #21 of the In The Tank Podcast, Hosts Donny Kendal and John Nothdurft bring in Director of Communications Jim Lakely to talk about the GOP debate. This weekly podcast features (as always) interviews, debates, roundtable discussions, stories, and light-hearted segments on a variety of topics on the latest news. The show is available for download as part of the Heartland Daily Podcast every Friday.

Enjoying low gas prices? How long will they last? In this edition of The Heartland Daily Podcast, Dr. Bud Weinstein, Associate Director of the Maguire Energy Institute and research fellow Isaac Orr talk about the Keystone Pipeline and the factors that influence the global prices of oil.

The world has changed. Although few yet understand it, the revolution in the production of oil and natural gas from shale has altered the course of global energy, affecting most of the world’s people. This is not a short-term event. Citizens, industries and nations will be impacted for decades to come.

After years of rising gasoline prices, people are puzzled by the recent drop that has a gallon of gas at levels not seen in nearly four years. Typically in times of Middle East unrest, prices at the pump spike, yet, despite the violence in Iraq and Syria, gallon of gas is now at a national average of $3.

Thanks mainly to the shale revolution, oil production in the U.S. hit a 28-year high last month while imports were at their lowest levels since 1995. Consequently, prices have fallen 15% since June, and Saudi Arabia has cut production by 400,000 barrels a day — providing further evidence that OPEC no longer has the power to set prices.

Several Hollywood elites were recently caught red-handed on videotape, agreeing to take money from a Middle Eastern oil sheikh for another anti-fracking movie. Their actions were shameful, but they felt no shame – only anger at the folks who caught them in the act. Indeed, the ironies are matched only by their hypocrisy and disdainful disregard for the consequences of their anti-fracking fervor.