“Oil” on The Daily Caller

In an effort to rally the base and go on the offensive following the killing of the Keystone XL pipeline plan, President Barack Obama turned on the pro-free market Koch brothers, releasing a campaign ad that refers to “secretive oil billionaires attacking President Obama.” The effort did not escape the attention of Koch Industries, which promptly released a statement saying that it is “unfortunate that the president demonizes Koch and other job creators for political gain rather than create an environment that will promote job growth and help businesses and the people they employ flourish.” (RELATED: Obama re-election ad targets Koch brothers, touts ‘green tech’ jobs) (more)

RIYADH, Saudi Arabia (AP) — Gulf Arab nations are prepared to offset any potential loss of Iranian oil in the world market, a senior Saudi oil official said as Iranian officials stepped up their rhetoric Wednesday about shutting off a key supply route. (more)

Oil prices dropped below $99 a barrel Wednesday amid worries about the eurozone’s debt crisis and expectations OPEC will keep its output quotas unchanged. (more)

WASHINGTON (AP) — The U.S. trade deficit narrowed in October to its lowest point of the year after Americans bought fewer foreign cars and imported less oil. (more)

NEW YORK (AP) — Oil prices dropped below $98 per barrel Friday to the end a volatile week that mixed jitters about Europe’s debt with the prospect of tighter oil supplies and improving economic conditions in the U.S. (more)

Alberta’s top official said this evening that the White House’s surprise opposition to the Keystone XL pipeline pressures the province to seek different export routes for its valuable oil. (more)

While some pundits are busy calling Sarah Palin thin-skinned, claiming that there is “no space for her” in the 2012 race and incessantly speculating about her potential announcement date, some of us are sitting by laughing, sufficiently amused by typical establishment tactics that have grown tired, old and frankly a little boring. (more)

NEW YORK (AP) — Shares were mixed Wednesday for energy companies that do business in Libya as scattered battles flared throughout the capital. (more)

The collapse of Muammar Gaddafi’s regime in Libya sent prices for Brent crude (which are linked to Middle Eastern affairs) down by $0.44 after initially dropping by 3%. (more)

Oil prices rose Wednesday as traders weighed the prospects for stronger global demand against the backdrop of sluggish U.S. and European economies. (more)

Why have oil and gasoline prices soared for most of the last few years — and why, despite a recent dip in prices, do many analysts expect them to rise for years to come? It comes down to supply and demand. (more)

On June 23, the Obama administration, in conjunction with other governments, announced a plan to release a total of 60 million barrels of oil from strategic oil reserves in the U.S. and other countries, at a rate of 2 million barrels per day for 30 days. (more)

NEW YORK/HOUSTON, July 14 (Reuters) – ConocoPhillips will spin off its refining arm in a bet that each operation will be worth more as separate companies, abandoning the bigger-is-better strategy that had driven oil giants into mergers over the past 15 years. (more)

In President Obama’s latest State of the Union Address, he proclaimed that in America, “We do big things.” Yet nothing about this administration’s energy policy (or lack thereof) is “big.” Squandering 30 million barrels of strategic oil that is supposed to be reserved for true emergencies isn’t “big.” This administration is a shrinking violet, afraid to embrace our vast energy resources, afraid to create jobs and afraid to confront unfriendly Middle Eastern countries with our own energy production. (more)

WASHINGTON (AP) — The U.S. trade deficit surged in May to the highest level in more than two and a half years, driven wider by a big increase in oil imports and a decline in exports. (more)

Almost 190,000 jobs could be created by 2013 if offshore drilling returns to pre-spill levels, according to a study sponsored by two oil trade groups, the National Ocean Industries Association (NOIA) and the American Petroleum Institute (API). (more)

There’s a poignant irony about the upcoming July 4 holiday: we’re celebrating our country’s political independence at a time when so many Americans are suffering from an acute lack of economic independence. Jobs are scarce and inflated fuel costs are making everything from food to appliances more expensive. And while the same could have been said about the economy last year, or even the year before, we are struck this year by the weak response coming out of Washington: tapping the Strategic Petroleum Reserve. (more)

There is absolutely no good reason to release 30 million barrels of oil from the Strategic Petroleum Reserve (SPR) this month. Yet that’s exactly what President Obama plans to do. In a coordinated effort with the International Energy Agency, a total of 60 million barrels of oil (30 million from the SPR and 30 million from other countries) will be released into a global market that uses over 84 million barrels a day. (more)

The White House announced today a large-scale release of oil from the Strategic Petroleum Reserve. (more)

WASHINGTON (AP) — Wary of a new surge in gas prices, the Obama administration said Thursday it is selling off 30 million barrels of oil from the country’s emergency reserves as part of a broader international response to lost oil supplies caused by turmoil in the Middle East and North Africa, particularly Libya. (more)