oil

Economics

How Saudi Arabia can stop America from producing more fuel

Updated

The myth of energy independence, despite US assertions. "If I was Saudi Arabia, and I didn't want to lose marketshare to these producers in Texas, I would send them a signal that any time I want to ... I can basically ruin the economics of your industry," says one energy expert.

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Economics

How Saudi Arabia can stop America from producing more fuel

Updated

The myth of energy independence, despite US assertions. "If I was Saudi Arabia, and I didn't want to lose marketshare to these producers in Texas, I would send them a signal that any time I want to ... I can basically ruin the economics of your industry," says one energy expert.

Economics

Venezuela's 4 cents a gallon gas is set for a major hike

Venezuela is suffering through the world's highest inflation and rampant shortages of consumer goods, like milk, sugar, toilet paper — even condoms. But one thing Venezuela does have a lot of is oil. And thanks to government subsidies, it also has the cheapest gasoline in the world. But maybe not for much longer.