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USA Today | December 12, 2014 | by James S. Robbins
Prices are down because of a combination of reduced demand and dramatically increased supply, created to an extent by the hydraulic fracturing revolution known as fracking. ...There are strategic benefits for the United States because oil profits fund everything from the Iranian nuclear program to Islamic State terrorism to Russian military modernization. With lower prices, there will be fewer resources available to underwrite these dangerous activities. Read more here.Read More >> READ MORE
Santa Rosa Press Democrat | December 12, 2014 | by The Editorial Board
If gas prices stay low, Mark Zandi, the chief economist at Moody’s Analytics, estimates that American consumers could gain $100 billion in disposable income over the next year. “It could make the difference between a good year and a great year,” Zandi told the Los Angeles Times. ...The windfall for consumers is accompanied by economic pressure on oil-dependent states such as Russia and Iran. Declining prices also are a problem for the Islamist rebels of ISIS, who finance their military ventures in Syria and Iraq by selling oil. Read more here.Read More >> READ MORE
January 01, 1970 | by CEI Staff
POLTICO reports today on Governor Jerry Brown’s response to critics, like actor Mark Ruffalo, who have criticized California’s strictest fracking regulations in the country: Regarding criticism from increasingly vocal Hollywood luminaries like actor Mark Ruffalo, who have sharply criticized his failure to stand against fracking, the governor suggested that they are largely ignoring the realities of Californians’ own continued reliance on cars and foreign oil. "I don’t think it's responsible to let third-world countries do the oil production so that Californians can drive around, even in their hybrids," he said. "We have to shoulder our part of the responsibility. And...Read More >> READ MORE