
Energy and Environment News
October 20, 2014
Top Stories
Oil. The dramatic drop in oil prices seen in recent weeks has raised several key questions for policymakers, including whether the U.S. or other major oil-producing countries will cut back production and how much falling prices will boost the U.S. economy ahead of the midterm elections. Additionally, while the recent price decline’s impact on the crude exports debate is uncertain, it may provide a boost to the anti-Keystone pipeline argument. Politico
Natural Gas. Increased production, warm weather, and new pipelines have caused a rapid increase in natural gas stockpiles, pulling down prices ahead of the winter. While the EIA predicts natural gas prices to be 6.8% higher than last winter, natural gas consumption is expected to fall this winter – largely because last winter’s extreme weather is unlikely to be repeated. WSJ
Oil. A new report from the Government Accountability Office (GAO) finds that repealing the ban on crude oil exports would increase domestic oil production, reduce the U.S. trade deficit, and narrow the gap between U.S. and international crude oil prices. Furthermore, the report finds that ending the crude export ban would also benefit U.S. consumers through lower fuel prices. The Hill
OP-ED of the Day
Energy Security. The Washington Post editorial board argues that oil price declines are putting pressure on Iran, Russia, and Venezuela by compounding the effect of sanctions and cutting state revenues, potentially providing the U.S. with a geopolitical advantage in coming years. WP