Not exact matches
NEW YORK, May 1 - The dollar broke into positive territory for the year and
U.S. bond yields inched higher again on Tuesday as the recent rise in
oil prices fueled expectations the Federal Reserve could flag more interest rate hikes at its
policy meeting this week.
Environmental groups are suing the Trump administration for selling
oil and gas leases on huge swaths of Western
U.S. public lands while allegedly ignoring
policies meant to protect an imperiled bird.
Also, notwithstanding a silly fiscal
policy and the ongoing political impasse, the
U.S. economy has some very good things going for it now, as even king of doom, Nouriel Roubini, couldn't help but note: the Fed is going to stick to its asset - buying regime for the foreseeable future, providing a monetary protein shake the recovery still very much needs; the housing rebound is well on its way, which is helping Americans rebuild their wealth and is boosting employment in many states with high jobless rates; and the shale
oil and gas revolution continues to power investment, job creation and revenue growth.
The relentless rise of
U.S. shale growth could soon spark another dramatic change of
policy from leading
oil producers, according to the latest monthly report from the International Energy Agency (IEA).
The IEA's forecasts overlap largely with the Trump administration's pursuit of what it calls «energy dominance» — a strategy that has been visible in its rollback of various Obama - era
policies this year (above all in the
U.S.'s withdrawal from the Paris Climate Accord), and in a big expansion of federal acreage offered for
oil and gas prospecting.
The $ 330 - billion spending plan says while several economic indicators such as employment numbers and tax revenues are up, and this year's deficit will likely be lower than expected — there are risks ahead:
oil prices are expected to remain low; Canadian exports may remain flat; and «possible
U.S. policy actions affecting trade could restrain exports to the
U.S. even further,» the budget says.
Presumptive Republican presidential nominee Donald Trump aimed to detail his energy
policy Thursday in the heart of
U.S. oil country.
Biofuels don't help, but biofuels are the result of high
oil prices, which are the result of poor incentives to bring
oil up (both because of low yielding
U.S. assets and political resentment over
U.S. foreign
policy).
The moves higher in global stock markets have been accompanied by a recovery in
oil prices to over $ 48 a barrel, receding worries about the Chinese economy, and the
U.S. Federal Reserve indicating it is in no hurry to tighten
policy.
The negative impact of lower
oil prices will gradually be mitigated by a stronger
U.S. economy, a weaker Canadian dollar, and the Bank's monetary
policy response.
Implementing (another nascent trend) better economic
policy in key emerging economies (China, India) as well as key developed economies (eurozone, Japan) with at least the possibility of future breakthroughs in
U.S. economic
policy (immigration,
oil exports, trade promotion authority).
Driven by a debt binge by the E&P space, which was enabled by the central bank
policy, the
U.S. oil industry was able to achieve record
oil production.
In his year - end interviews, and in the final days of the fall sitting of the House of Commons, Prime Minister Stephen Harper said it would be crazy to impose additional costs on Canada's
oil and gas sector in a time of low prices if the
U.S. was not enacting similar carbon emission
policies.
Trump might be upset about high
oil prices, but there's the inconvenient truth that one of the major factors propping them up is
U.S. foreign
policy
U.S. Dollar strength and disinflation, supported by the ongoing
oil price collapse, are providing headwinds for the metals; on the other hand, a recent rise in fear in the euro area, combined with continuing loose monetary
policies, result in favorable conditions.
The
policy statement also pledges to cut
U.S. reliance on the Organization of Petroleum Exporting Countries — a promise that could make Canadian
oil more attractive to the United States.
The below chart illustrates
U.S. oil production (in gold) vs. FED's balance sheet (in blue), and how overproduction from accommodative monetary
policy resulted in the sharp decline in
oil prices, creating a systemic risk that was again transmitted from financial and commodity markets to the real economy (in job losses and slow growth in Texas and other
oil producing states, as well as the decline in headline inflation, pushing the Federal Reserve further from the price stability objective):
Saudi Arabia is likely to continue its
policy of maintaining high crude production, which keeps
oil prices from rebounding until high - cost producers like
U.S. shale frackers curtail output, Kilduff said.
NEW YORK The dollar broke into positive territory for the year and
U.S. bond yields inched higher again on Tuesday as the recent rise in
oil prices fuelled expectations the Federal Reserve could flag more interest rate hikes at its
policy meeting this week.
The Canadian province, which holds the world's third - largest crude reserves, is reviewing renewable - energy
policies as exports from its
oil sands face increasing opposition from environmental groups and lawmakers in the
U.S. and Europe.
Of course Bacevich is right that current
U.S. policy has a history, and that history is closely related to our dependence on
oil.
First, Bacevich underscores that
U.S. policy in the Middle East was significantly set by FDR when in 1945 he promised military protection to the Saudis if they would guarantee an unlimited flow of
oil under
U.S. control.
As
U.S. oil companies sought to gain a foothold there,
U.S. policies toward Armenia shifted toward disengagement.
The Cornucopia Institute, a
U.S. - based progressive farm
policy outfit, had samples of soy
oil, soy meal and soy grits tested, and both the soy meal and soy grits exceeded the hexane limit in food of 10 parts per million.
Even if
U.S. energy
policy goes «drill baby drill,» there will be no escape from the vicissitudes of the global
oil market
«Geopolitical Dimensions of
U.S. Oil Security,» co-authored by Jim Krane, the Wallace S. Wilson Fellow for Energy Studies at the Baker Institute, and Kenneth Medlock, senior director of the institute's Center for Energy Studies, was published online this month in the journal Energy
Policy.
In its 2012 World Energy Outlook, the IEA is very clear about the impact of climate
policy on
U.S. oil demand.
The
U.S. Export - Import Bank (USEXIM) is the third - largest supporter of fossil fuels among all G20 countries, according to a new report out today from
Oil Change International, Friends of the Earth
U.S., and WWF's European
Policy Office.
As an indictment of
U.S. Middle Eastern
policy in regards to
oil, the movie feels like a one - note argument.
A key driver is the improving
U.S. economy, with its strengthening monetary
policy, better jobs numbers and surging domestic
oil production, all of which support a stronger
U.S. dollar.
There are several
policy and economic clouds on the horizon, and if the upside in
oil prices is limited, then the appreciation potential for the Canadian dollar versus the
U.S. dollar is potentially also likewise limited.
This is an obvious area where stated domestic
policy is in direct conflict with stated foreign
policy — for example, we just had the
U.S. special envoy for Eurasian energy, Richard Morningstar, state that the
U.S. supports all projects that increase world use of
oil and gas.
Currently they are in conflict —
U.S. foreign
policy is focused on increasing global use of
oil and gas via pipeline deals — Nabucco, Baku - Tiblisi, Chad - Cameroon, etc — all of which have large support from the US State Department and client agencies like the IMF and the World Bank.
So, what I'm getting at is that today's high prices, which are high due to: increasing
oil demand; stupid American monetary
policies that are now degrading the value of the dollar; and the fact that the
oil price is denominated in dollars so that the
U.S. is forced to pay more of our income for
oil.
Though the
U.S. Senate missed a chance to expeditiously rectify an unnecessary regulation that could impact natural gas and
oil production on federal lands, jobs and
U.S. consumers, we trust supporters of domestic energy will focus on future opportunities to implement
policies and commonsense regulations that ensure safe, responsible and abundant production.
U.S. energy
policy that supports
oil and natural gas can help the
U.S. meet national energy, economic and climate goals.
These anti-hydrocarbon
policies also mean the
U.S. Treasury will be deprived of hundreds of billions of dollars in lease bonuses, royalties, taxes and other revenues that it would realize from the development of our nation's vast
oil, natural gas and coal deposits.
Exxon said it cut off funding for some groups opposed to climate change in 2005, but the
oil giant continued to support the
U.S. Chamber of Commerce and the American Legislative Exchange Council (ALEC)-- groups that have lobbied against climate - related government
policies.
U.S. oil and natural gas companies continue to lead in investing in the domestic economy, with five companies among the Progressive
Policy Institute's top 25 in 2014
U.S. capital expenditures.
The American Lung Association believes that protection of lung health and a sound
U.S. energy
policy are compatible goals that require an emphasis on energy conservation, energy efficiency, and the use of cleaner energy resources, including a transition from coal and
oil to cleaner alternatives.
Supply, cost, environmental consequences - these are among the central features of debate over energy
policy in the
U.S. Those who want to open up more areas to drilling - on land and offshore - and expand the use of fracking to extract natural gas from deep underground argue that we must reduce our dependence on foreign
oil.
I start (and started) from the premise that the dramatic decline in crude
oil prices that took place from August, 2014 ($ 96 / barrel), to March, 2015 ($ 44 / barrel), was due — on the one hand — to decreased demand, a function of slow economic growth in Asia, Europe, and elsewhere, endogenous, price - driven technological change leading to greater fuel efficiency, and
policy - driven technological change that also has been leading to greater fuel efficiency, such as more stringent Corporate Average Fuel Economy (CAFE) standards in the United States; and — on the other hand — was due to increased supply, partly a function of the growth of unconventional (tight)
U.S. oil production (a product of the combination of two technologies — horizontal drilling and hydraulic fracturing).
U.S. oil demand is now seen as having peaked in 2005, and if additional climate - friendly
policies are put in place it is expected to decline further.
Today, Senator Brian Schatz of Hawaii unveiled the FAIR Energy
Policy Act, which would end a subset of existing
U.S. federal
oil subsidies within four years.
Who is actively fighting to ensure government
policies shutter
U.S. nuclear energy facilities; keep domestic coal, natural gas, and
oil in the ground; force up energy prices through taxes and regulations; and endanger national security by installing wind farms near military bases?
The 15
U.S. - based organizations – 350.org, Climate Hawks Vote, CREDO, Earth Guardians, Friends of the Earth, Green America, Honor the Earth, Institute for
Policy Studies, League of Conservation Voters, The Hip Hop Caucus,
Oil Change International, Potlach Fund, Rainforest Action Network, Sierra Club, and the
U.S. Climate Action Network (USCAN)-- represent more than 13 million combined supporters.
ExxonMobil and the American Legislative Exchange Council (ALEC) are running an illegal scheme to promote the
oil giant's climate denial
policies and legislative agenda in violation of
U.S. tax law governing charitable organizations, the Center for Media Democracy (CMD) and Common Cause charged today.
John Holdren, director of the White House Office of Science and Technology
Policy, had some important things to say at this week's
U.S. Energy Information Administration (EIA) conference — noting that fossil fuels will remain the world's dominant energy for decades to come and that the idea of America leaving its
oil and natural gas reserves in the ground is «unrealistic.»
The connection between
policy and pocketbooks is evident after a year in which Americans saved an average $ 550 per driver on gasoline, due largely to strong
U.S. oil and natural gas production.
The president himself is pushing
policies aimed at weaning the
U.S. transportation system off imported
oil, but he has also acknowledged that Canada and other neighbouring democracies are favoured sources for the imported
oil that will be needed.