Almost 70 percent of the price of gasoline comes from the price of crude oil, with excise taxes, refining costs, and retail/distribution making up the other 30 percent. Read More.
Must it always be opposite day in Washington? Petroleum and gasoline prices are surging while the Obama Administration and its allies seem intent on making things worse. Read More.
Responding to the BP oil leak, President Obama instituted a moratorium on deepwater (over 500 feet) drilling. Though a judge ruled against the moratorium, drilling has not restarted. Read More.