A Conoco service station at San Felipe Street and Winrock Boulevard in Houston limits gasoline purchases to 10 gallons in December 1973. (Bill Thompson/Houston Chronicle)

40 years later: Foreign oil dependence has soared since the embargo (photos)

on
Even in the midst of an oil boom, the United States is far more dependent on foreign crude today than it was during the 1973 fuel crisis.
Drivers and a man pushing a lawnmower line up at a gas station in San Jose, Calif., in March 1974. The Arab oil embargo that began in October 1973 kicked off a severe recession from November 1973 through March 1975. (AP photo)

Military and business leaders urge US to end oil’s fuel monopoly

on
In a report issued Tuesday, former U.S. military leaders, cabinet secretaries and business leaders recommend ways the United States can pare America’s vulnerability to oil price hikes, by giving alternatives a chance to compete with gasoline and ending “oil’s virtual monopoly as a transportation fuel.”

From RINs to Supply to Demand to Seasonality…Why Gasoline is Heading Lower

on
Let’s end at the beginning: retail gasoline prices are going to continue to head lower, and this post simply presents the case as to why, through some simple visuals.  But before we do that, here are some reasons as to why that downside could be more limited than it otherwise should be: –Stubbornly high input […]
Tags:
Sugarcane is harvested in Brazil for BP's Tropical ethanol plant, part of BP's biofuels expansion in the South American country. (Marc Morrison/BP)

API asks feds to reconsider 2013 biofuel quotas

on
Oil companies are asking the Obama administration to reconsider renewable fuel quotas for the year that they said were “unrealistic.”
(Karen BLEIER/FILESKAREN BLEIER/AFP/Getty Images)

Randalls launches Exxon fuel loyalty program

on
Randalls and Exxon Mobil are partners on a new fuel-rewards program.
California_Gasoline_Prices_JPEG-05fad

EPA considers U.S. ethanol mandate cut amid complaints

on
The U.S. Environmental Protection Agency is considering scaling back legal requirements on the use of ethanol next year amid complaints from refiners that statutory mandates would exceed their ability to blend it into fuels without putting engines at risk.
Categories: Gasoline
(AP Photo/Rick Bowmer)

Oil industry says sulfur mandates could hurt gasoline supplies

on
The oil industry’s largest trade group on Thursday said refiners need more time to comply with looming new requirements to pare sulfur from gasoline. The American Petroleum Institute warned that a “rushed timeline” could hurt the nation’s gasoline supply.
(Photo: Michael Cote/Flickr)

Missouri lawmakers block rule allowing E15 gasoline

on
Missouri lawmakers blocked a proposal Wednesday that could have allowed greater amounts of ethanol to be blended into the gasoline sold for most vehicles.
Megan Sakkal fills her vehicle with gasoline at the  Shell Station in the 300 block of South Shepherd Drive Tuesday, Aug. 27, 2013, in Houston.
( James Nielsen / Houston Chronicle )

US gas prices drop 14 cents over past 2 weeks

on
CAMARILLO, Calif. — The average U.S. price of a gallon of gasoline has dropped 14 cents over the past two weeks. The Lundberg Survey of fuel prices released Sunday says the price of a gallon of regular is $3.38. Midgrade costs an average of $3.58 a gallon, and premium is $3.71. Diesel was down 4 […]
Categories: Gasoline
(Lisa Krantz/San Antonio Express-News)

Oil industry poll: Motorists wary of filling up with E15

on
The oil industry’s campaign against an eight-year-old renewable fuel mandate is paying off, according to a new poll that shows American motorists are concerned corn-based biofuels could hurt their cars.