Oil

For the first time, oil has been exported from the United States to the United Arab Emirates (UAE). The UAE has been one of the world’s leading producers of oil, which has financed the urban centers of Dubai and Abu Dhabi, with their spectacular architecture. This is an indication of the rise over the past decade of the United States as a fossil fuel producer.  read more »

We are reading a lot about the windfall coming to consumers due to falling gas prices now that oil is under $50/barrel. But cheap energy also represents a windfall for governments, including governments who are hard pressed for cash.  read more »