by Mark Pike At the State of the Union address this year, President Bush diagnosed our country with chronic petroleum syndrome. “America is addicted to oil,” he said. The symptoms have been immortalized in Jack Kerouac’s words, Nat King Cole’s lyrics, and Tom Cochrane’s crooning “life is a highway, and I want to ride it […]
Running on Reserves: Gas Prices and the American Consumer
by Alison Partin The Organization of Petroleum Exporting Countries (OPEC) decided on October 20, to cut oil production by 1.2 million barrels per day – the first OPEC production cut since February 2004. The organization is hoping to slow a recent decline in the price of gasoline, even though the cost of gasoline in the […]