Oil price increases a ‘tax’? Yes. Reduce the tax by reducing U.S. oil dependence
EDITORIAL Think of the current increases in crude oil prices as a” tax” on energy consumers. That’s what Larry Kudlow, conservative talk show host on CNBC-TV and author who served as Associate Director for Economics and Planning in the Office of the Management and Budget during Ronald Reagan’s first term, 1981-85, called it during his [...]
Strategic Petroleum Reserve: leak risk complicates draw down options
Oil prices bump up over $100 per barrel and here come the mounting, knee-jerk, calls to draw down a portion of the 726 million barrels of crude oil stored in salt caverns in Texas and Louisiana. If they think the unrest in Libya is an emergency deserving of a draw-down, they’d better check their grasp [...]
