PUMP is Available Now on iTunes

Wednesday, January 14, 2015

You can now watch PUMP the Movie in your own home, and share the fight for fuel choice with your friends.

"PUMP is the eye-opening documentary about the negative impacts of our oil addiction" says Eyal Aronoff, "and how we can break it in less than a decade.

"The low gas prices we’re experiencing right now are just a preview of what the future could look like if we have a real choice at the pump. Expanding fuel options will lower costs once and for all — which means not having to worry that prices could shoot back up to over $4 per gallon at any moment."

Rent or buy PUMP at the iTunes store here.

Read more...

Saudis Might Push Oil Price Even Lower

Tuesday, December 30, 2014

Saudi Arabia’s oil minister, Ali al-Naimi, said recently it was “not in the interest of OPEC producers to cut their production, whatever the price is...”

Naimi also said the Saudis might even raise their output to improve their market share (which would also lower prices further). "The best thing for everybody," he says, "is to let the most efficient producers produce..."

What exactly does he mean? Olivier Jakob, an oil analyst at Petromatrix Oil in Switzerland, spells it out in plain English. Jakob writes: the OPEC oil ministers “basically want oil prices to move lower to reduce production in the U.S.” There it is.

That's what monopolies do. If a monopoly can produce a commodity or product cheaper than anyone else (and Saudi Arabia has the cheapest oil in the world to produce), their best bet in the long run, if they can get away with it, is to drop the price so low it puts all the competition out of business.

Oil prices are low and getting lower, and that's great. It will boost the U.S. economy while it lasts. If the Saudis get their way, eventually most of its competition will be dead and they can go back to gouging the world. The only way to get our economy off their roller coaster is robust fuel competition. It can be done now, and when they raise their prices again, our economy will keep humming. Let's hope enough of us see the wisdom to keep pursuing it while oil prices are low.

Read more...

Low Fuel Prices Create Winners and Losers

Monday, December 22, 2014

In late November, in Vienna, OPEC decided not to do what it normally does when oil prices get too low: They chose not to cut their production levels. Some OPEC members can afford this because their oil is cheap to produce. Some countries like Venezuela will be hurt badly by this decision, but they don't have the same clout within OPEC. This is a quote from an article in USA Today:

In Vienna, Venezuelan Oil Minister Rafael Ramirez effectively conceded defeat when he appeared to angrily storm out of the OPEC meeting once a no-cut decision was signaled.

Over half of officials from OPEC countries — the poorer half — were consistently on-message that the market is over-supplied and that something needed to be done. Nothing was done.

Shale-oil producers in the United States and Canada could also be hurt. Low crude prices make it harder for them to launch new drilling projects or expand operations because they count on high returns to finance the costly penetration and oil harvesting.

These are interesting times. We'll see how it all plays out. In the meantime, the lower fuel prices will immediately ease the financial burden of hundreds of millions of people around the world because the artificially-induced high oil prices we've experienced around the world have functioned like a regressive tax on the whole world.

What we're getting now is a taste of what could happen if we had true fuel competition in America. It's a goal worth fighting for. In the meantime, enjoy the low prices while they last.

Read more...

Subscribe to the RSS Feed

Subscribe to Email Updates

Enter your email address:

Delivered by FeedBurner

Like us on Facebook

Current Status of the Open Fuel Standard Bill

  © Blogger template The Professional Template II by Ourblogtemplates.com 2009

Back to TOP