Sentences with phrase «dramatic increase in oil prices»

With the dramatic increase in oil prices earlier this year translating into higher prices at the gas pump in the United States, concerns over U.S. dependence on foreign oil are once again part of the national discussion on energy security.

Not exact matches

Oil prices might have bottomed as output in the United States and other non-OPEC producers is beginning to fall quickly and an increase in supply from Iran has been less than dramatic, the International Energy Agency said on Friday.

The dramatic plunge in the prices of oil and industrial commodities as a result of slowing demand from China together with increased supply from the United States, decimated energy and materials companies» profits.

But here's what's changed: the sharp cost reductions now beginning to take place in solar, wind, and geothermal power — coupled with the recent dramatic price increases for oil and coal — have radically changed the economics of energy.

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).

Indeed, the dramatic increase in U.S. oil production is the key addition to global supply that's putting downward pressure on the cost of crude, the No. 1 factor in pump prices.

To a wide segment of the American public, the dramatic increase in world oil prices may not have immediately registered, but skyrocketing gasoline prices brought home the nature of the crisis, prompting a recognized need for a national energy policy.