Oil prices are set on a world market, subject to a complex mix of factors outside the United States’ control. And even if net U.S. or North American oil imports plummeted to zero, the United States would still be connected to that global market.Read more here.
Michael Levi, a senior fellow for energy and the environment at the Council on Foreign Relations, argues that the notion of real energy independence requires more than just “impressive arithmetic”: It isn’t just adding up total imports and exports to get to zero.
“So long as you are part of a global oil market, your economy remains vulnerable to unrest in that market – even if you are buying oil from yourself,” Levi said.
For instance, OPEC countries could cut their production to offset any spikes in U.S. oil – a scenario even bullish analysts anticipate.
“There will be times when OPEC may respond and cut production and that will temporarily pop up the price again,” said analyst John Freeman, managing director of Raymond James & Associates.
The Louisiana Workforce Commission said Friday that initial claims rose to 2,125 from the previous week's total of 1,964. There were 2,887 initial claims during the comparable week in 2013.
Oilfield service company’s year-over-year revenues climbed 3.7 percent.
Move is part of company-wide consolidation of residential call centers.
Contentious deposition renders LOGA chief too ill to testify. Here's why.
Proposal for the upcoming legislative session would set Louisiana’s minimum wage at $10 per hour, beginning in 2015, up from the federal rate of $7.25 per hour.
Patrick Kane II recalls his mother awakening him 50 years ago to say his dad’s plane was missing.
His health affected by a contentious deposition last week, the LOGA chief says he can't testify (court will reconvene March 10).
Chair of the energy committee, Mary Landrieu (discussing the urgency of Keystone with Canadian Foreign Minister John Baird) should get the respect she deserves in Louisiana.
A fundraiser co-chaired by former U.S. attorneys from both sides of the political aisle could signal the end of Mike Harson’s long grip on the D.A.’s office.
Former W. Home Furnishings owner Rene Ward faces seven years in prison.
Stuller’s Danny Clark focuses on satisfied customers and effective employees as he settles in as the company’s president/COO.
Sterling Ford-Lincoln of Opelousas ribbon cutting and the State of the Parish address
Increases in higher-end home sales say a lot about the health of the overall market.
Who joined whom or got promoted?
World-class athlete riding high in custom bike biz.
Setting the record straight on that February story in HuffPo
Liability waivers — what you need to know before you sign
A one-man operation, Brett Gauthier is bringing the oil and gas industry into the age of digital animation.
Planning a meeting with results
Local Ad Fed’s Copywriter of the Year and recently named creative director at Russo tapped for Boston Marathon project.
Forecasts for more frigid weather drive prices to highest level in four years.
CiCi's Pizza on Johnston Street will be torn down to make way for popular bakery-café Panera Bread's first Lafayette store.
A computer services company announced Tuesday that it plans to open a new technology center in Bossier City, creating 800 new jobs and bolstering efforts to position northwest Louisiana as a center for cybersecurity work.
The four-week moving average, which is a less volatile measure of claims, decreased to 2,332 from the previous week's average of 2,566.
Auto dealership welcomes the community to celebrate