The Short-Lived Renaissance of the US Oil Industry

May 05, 2020

When US oil prices dropped to below zero in April, the media reacted in the same way they do to any radical change in the status quo. Even though it is entirely about human behavior, the media painted the plunge in price as the equivalent of a natural catastrophe due to its unexpected effect on...

Saudi Aramco Is the World’s Most Profitable Company

April 02, 2019

For those who don’t understand why it’s essential to have money before you can make money, the case of Saudi Aramco demonstrates the underlying logic of the free-market system. For more than a year, Riyadh has been toying with the idea of going public with its wholly-owned petroleum company,...

The World This Week: Dirty Oil Drives the Global Economy

December 04, 2016

House prices and oil prices rose this week, raising prospects of short-term economic growth while amplifying possibilities of long-term damage to the planet. This week, house prices in the United States hit a record. Believe it or not, the average home price for September is 0.1% above the...