Salem-News.com Oil-prices articles

Severe Winter Weather Causes Temporary Gas Price Spikes in Several States

Oregon is one of only 10 states with a weekly decline

(PORTLAND, Ore.) - The late December winter storm that slammed much of the country with snow, ice and frigid temperatures caused gas prices to spike, as refineries as far south as Texas and the Gulf Coast were forced to shut down temporarily.

The storm also caused holiday travelers to fuel up and hit the road early to beat the bad weather.

When Will Electric Cars Take Over The Roads?

The age of the electric vehicle (EV) will be here sooner than you think.

(LONDON Oilprice.com) - Millions of new EVs will take a big bite out of oil demand and displace 8 million barrels of transport fuel (gasoline and diesel) every day.

But the biggest factor in the EV surge is what's under the hood...lithium ion batteries.

3 Years of Painful Cuts Set Markets Up for Serious Supply Crunch

The industry has always suffered from booms and busts.

(LONDON OilPrice.com) - Total global oil production could decline for the next several years in a row as scarce new sources of supply come online.

According to data from Rystad Energy, overall global oil output will fall this year as natural depletion overwhelms all new sources of supply. But the deficit will only widen in the years ahead due to the dramatic scaling back in spending on new exploration and development.

Lithium War Heats Up After Epic Launch of Tesla Model 3

"...the masses will need more lithium than we can currently get our hands on."

(LONDON OilPrices.com) - The unveiling of Tesla’s Model 3 electric car was no less than the lifting of the final curtain on a game-changing energy revolution. And if we follow that revolution to its core, we arrive at lithium—our new gasoline for which the feeding frenzy has only just begun.

Unveiled just on 31 March and already with 325,000 orders, it seems that the market, too, understands that the Model 3 is more than just another electric vehicle.

Oil Won`t Stage A Serious Rebound Until This Happens

As the short-covering rally reaches its limits, prices could fall once again.

(LONDON OilPrices.com) - Oil prices have shown signs of life over the past few weeks, as production declines in the U.S. raise expectations that the market is starting to adjust. As a result, Brent crude recently surpassed $40 per barrel for the first time in months.

A growling list of companies are capitulating, announcing production cuts for 2016. Continental Resources, for example, could see output fall by 10 percent.

Why Oil Booms And Busts Happen

Your vivid recollection of the ups and downs of gas prices explained.

(LONDON OilPrices.com) - What if I told you that there was a period in history where oil demand declined by 5 million barrels per day and non-OPEC supply increased by 5 million barrels per day, yet oil price rallied more than 50 percent? Would you believe me?

If your answer is yes, then you guessed right.

This was the period from 1979 to 1985; it was a period during which global oil demand declined from over 61 million barrels to 56 million barrels and non-OPEC supply increased from 32 million barrels to 37 million barrels.

Oregon SB 324 goes to Governor Kate Brown for Signature

Statement from OLCV Executive Director Doug Moore on Passage of Clean Fuels Extension by Oregon House of Representatives

(PORTLAND, Ore.) - After more than five hours of debate, the Oregon House of Representatives passed SB 324, legislation that lifts the 2015 sunset on Oregon’s Clean Fuels Program, which reduces the carbon intensity of fuels by 10% over 10 years.

“For nearly six years, extending the Clean Fuels Program has been the top priority for Oregon’s environmental community.