Since late October, an American air campaign called Operation Tidal Wave II has targeted oil fields, refineries and tanker trucks, and American officials believe they have cut the Islamic State’s oil revenue by about a third.
The number that everyone in the energy market has penciled in for Iran’s output, absent voluntary restraint, is 4 million barrels a day. That number stems from both the country’s pre-sanctions peak and Iran’s stated ambition. Whether it gets there and how quickly is a matter of disagreement.
A top Saudi prince has announced new elements of a plan to reduce the kingdom’s heavy dependence on oil, amid a drop in world prices that has sent shock waves through the Saudi economy.
The recently refurbished tarmac at Maine’s busiest airport contains the usual mixture of gravel, water and chemical binder, but what gives this asphalt its jet-black color is crude oil supplied by the Islamic State group.
A collapse in oil revenues available to Islamic State is likely to have made it increasingly dependent on donations from wealthy Gulf states and profits from foreign exchange markets, the first UK inquiry into the terror group’s funding has heard.
Oil markets seem to have stabilized on the back of reports that the Organization of Petroleum Exporting Countries (OPEC) and non-OPEC producers (read Russia) are trying to get an agreement in place to stabilize markets.
A year later, the war has been a humanitarian disaster for Yemen and a study in the perils of the Obama administration’s push to get Middle Eastern countries to take on bigger military roles in their neighborhood.
In simplest terms, the Corporate Average Fuel Economy (CAFE) standards are where national security meets cleaner air. Read more →
And boy, are there a lot of fools.
Of the $1.3 billion the federal government spends fueling its hundreds of thousands vehicles each year, the vast majority — 78 percent — is spent on gasoline. But if the Navy has its way, it may not be that way for much longer.
