In recent times, Venezuela has been the object of many headlines across the globe that detail its current economic predicament. Once Latin America’s most stable country, Venezuela is now experiencing a historically unprecedented economic and social collapse. How did such a nation awash with bountiful oil reserves and numerous decades of democratic stability stoop to…
Once Latin America’s richest country, present-day Venezuela has reached such low points in its economic and social development that it is not out of the question to consider it a failed state at this juncture. Lurid imagery of soldiers stealing goats, citizens turning to vigilante justice, public hospitals lacking supplies, and long lines to get…
By Andrew Follett Environmentalists like to claim that fracking accelerates global warming, but that’s likely not the case, according to numbers crunched in a report published Monday by the pro-industry group Energy In Depth (EID). Environmental claims that America’s hydraulic fracturing, or fracking, boom accelerated global warming due to methane emissions were just blown away, according to a report published…
By Andrew Follett The various nations of the European Union pay a lot more for electricity than American states do, according to an analysis of data by The Daily Caller News Foundation. The DCNF aggregated average annual power prices from the E.U. and U.S. in 2013, the last full year of data. The average European spent 26.9 cents…
By Michael Bastasch A libertarian think tank was served with a subpoena by U.S. Virgin Islands prosecutors as part of a racketeering probe not long after Democratic attorneys general promised to investigate groups with ties to the oil industry for allegedly misleading the public on global warming. More subpoenas are likely on the way as…
By Russ Read In an apparent attempt to further consolidate power, Russian President Vladimir Putin announced his plan to create a Russian “National Guard” that will take over the duties of several other security agencies, potentially upsetting the precarious balance of power in the Russian security apparatus. The new force will be comprised of personnel…
By Andrew Follett The average American now pays less than $1.80 for a gallon of gasoline. Prices today are the lowest they’ve been since 2009 but can vary a great deal depending on the state. A report published Thursday by the American Automobile Association determined that the U.S’s highest gas prices can be found in Hawaii and California, which pay an average…
By JP Carroll President Rafael Correa of Ecuador will not be running for re-election as the leader of his oil rich OPEC member country which he has ledsince 2007 and is facing economic turmoil due to low global oil prices. The country’s National Electoral Council announced Feb. 19 that elections would be held a year from…
By Andrew Follett Obama’s proposed oil tax would do a tremendous amount of damage to the economy, according to a recent report. A report published Tuesday by the conservative Tax Foundation found Obama’s plan to slap a $10 tax on each barrel of oil would kill 137,000 American jobs and cost the U.S. economy hundreds…
Chris White Those worried that rock-bottom crude prices might collapse the oil industry have little to fear, according to a report by research group Wood Mackenzie. Citing analysis of production costs on 10,000 oil fields, Wood Mac said it believes only 4 percent of the global oil supply is unprofitable at oil prices below $35 per…