Timeline of U.S. Energy Regulation

Turmoil in the Middle East certainly plays a role in domestic oil prices, but this isn't the whole story. In fact, our drastic increase in gas costs is due to American political policies to unilaterally raise the price of energy, seemingly on purpose.

"So far this year America's dependence on Saudi Arabian oil has increased by 20 percent, according to a front-page article in the New York Times.... After nearly four years in office, that the United States is even more dependent on Middle East oil is shocking testimony to the failure of the Obama Administration's energy policies."

According to Anthony de Jasay, high oil prices are often blamed on profit-loving oil companies. In Europe, however, a large portion of the price at the pump goes to oil taxes. The author goes on to explain that the government wishes to retain these high taxes in order to keep European gasoline consumption low.

One one side of the oil prices debate, speculators are considered evil and manipulative. But on the other side, speculators are dismissed as completely detached from the real policy issues. Which side is right?

"Less than 46% of each barrel of crude oil gets processed into 'finished motor gasoline' according to the EIA. So what gets produced from the other 54% of each barrel of crude oil?"

"Big Oil is redrawing the energy map.

For decades, its main stomping grounds were in the developing world—exotic locales like the Persian Gulf and the desert sands of North Africa, the Niger Delta and the Caspian Sea. But in recent years, that geographical focus has undergone a radical change. Western energy giants are increasingly hunting for supplies in rich, developed countries—a...

"Face wrapped in a thick scarf against clouds of blinding dust, the electrician gazed at a maze of pipes and pumps teeming with 15,000 workers and said his work was like building the Tower of Babel.

He was speaking casually. But for the oil industry Kashagan, the world's biggest discovery since 1968 with reserves locked amid lethal, high-pressure gases beneath the north Caspian Sea, is...

Using informative graphics, Yeoman outlines the history of the American and Chinese quest for "oil security".

"Mr. Pickens is trying to sell Congress something called the Pickens Plan, a madcap, Rube Goldberg political contraption designed to appeal to the worst elements of American politics — corporate self-dealing, xenophobia, economic illiteracy — while directing billions of dollars of subsidies into businesses in which Mr. Pickens has a financial interest. The plan goes like this: T. Boone Pickens...

Perry argues that the best way for America to unchain itself from OPEC and monitor greenhouse gas emissions is to develop more oil and gas drilling in the U.S. and utilize Canada's extensive oil sands. Despite rhetoric against American dependence on foreign oil, politicians have avoided drilling in the deep waters of the Atlantic Coast and the eastern Gulf of Mexico.

"The lofty goal of energy independence gets a lot of publicity from politicians in both parties, but the concept makes no economic sense. It would do us good to approach the problem more rationally."

"Big numbers make headlines – like our announcement of $10.7 billion in earnings for the first quarter of 2011. What may not make the headlines is the context surrounding that number, so I thought I would share with you what I told reporters following the announcement:

When crude oil prices increase it means higher earnings for oil companies, and more importantly for most Americans –...

"U.S. energy companies are pumping so much natural gas out of the ground that prices are plummeting, and the cheap gas isn't likely to evaporate anytime soon.

Natural-gas prices fell 5.7% Wednesday to their lowest level in over two years—good news for people who use gas to heat homes and for companies that use it to power factories.

For U.S. energy companies, however, the...

In the wake of 9/11, many American politicians have called for a reduced reliance on Middle Eastern oil and more government subsidies for domestic alternative-fuels. However, authors Taylor and Van Doren claim that this was the same ineffective approach engineered by the Carter administration in the 1970's.

"The United States imported about 51% of the petroleum,1 which includes crude oil and refined petroleum products, that we consumed during 2009. Just over half of these imports came from the Western Hemisphere. Our dependence on foreign petroleum is expected to decline in the next two decades."

"Geologic formations may contain large quantities of oil or gas, but have a poor flow rate due to low permeability, or from damage or clogging of the formation during drilling. This is particularly true for tight sands, shales and coalbed methane formations.

Hydraulic...

"Mr. Obama, speaking at Georgetown University, set out a multi-pronged approach to reaching that goal: finding and producing more oil in the United States, boosting fuel efficiency, and turning to cleaner alternative fuels. And while he is not as open to domestic oil drilling as some Republicans would like, he did try to reposition himself as a drilling-friendly president, even as he pushed...

"The oil spill in the Gulf of Mexico is a continuing headache for the U.S. government, posing particularly tough decisions about the direction of U.S. energy policy. Jack Coleman, a former federal lawyer for energy policy issues who is now an industry lobbyist, criticizes the Obama administration's decision to place a moratorium on most new Gulf drilling."

"John has already noted what ought to have been above-the-fold news in every newspaper last week—the testimony of the GAO's head of natural resources that the U.S. has recoverable oil shale 'about equal to the entire world’s proven oil reserves.'  It wasn't front-page news, however, because it doesn't fit the liberal narrative and favorite talking point that the U.S. only has '2...

"The anti-tax hardliners at the National Taxpayers Union are pumping $1.25 million into an ad campaign that blames President Obama for high gas prices. But the White House hasn't 'banned' fossil fuel production in the U.S. as the ad claims, and the $4 billion in taxpayer money we spend every year to subsidize oil companies isn't doing anything to hold gas prices down. According to NTU, Obama's...

"Obama might have had at least a plausible case against the Keystone XL Pipeline if it had been the first one to cross from Canada into the United States. Whether you agreed with the president or not, he credibly could have argued that protecting America’s pristine habitat is so important that we should not lay a pipeline to carry 1.1 million barrels per day of friendly oil across America’s...

"Like most presidents since the 1973 oil crisis, Mr. Obama may be stymied on the grand issues of energy security, let alone preventing further climate change caused by fossil fuels. Making peace with Republicans on energy policy may not be possible. But at the very least the president has made a savvy move to position himself as an energy activist. He’s also staked out a position that can...

"President Obama claims to see the need to create jobs at this time of endless 9-plus percent unemployment -- yet his administration continues to relentlessly destroy jobs for ideological reasons. The best example may be the Obama Environmental Protection Agency’s 'war on coal.'

The EPA’s regulatory crusade directly threatens hundreds of thousands of jobs -- and 'rolling blackouts' that...

"The Brits have had a rather interesting response to the American Outrage over the GoM spill: With less than 5% of the world’s population, the US consumes 25% of the world’s oil production.

They believe we are being hypocritical in our outrage — if we were all that concerned, argues the Brits, we would not have been so profligate in our consumption, love affair with the SUV, and refusal...

"A recent report on the November 2009 U.S. trade deficit found that rising oil imports widened our deficit, increasing the gap between our imports and exports. This is but one example that our economic recovery and long-term growth is inexorably linked to our reliance on foreign oil. The United States is spending approximately $1 billion a day overseas on oil instead of investing the funds at...

"When oil prices hit record levels, many people look for a scapegoat, and hugely profitable oil companies are an easy target. Even so, the typical political 'solutions' overlook the crucial role that market prices play in resource allocation, both among competing uses in different areas of the world today and among competing uses in different time periods (i.e. today versus the future)....

"Proven oil reserves are likely to be far larger than reported because of the way the capacity of oilfields is estimated and how those estimates are added to form the proven reserves of a company or a country. Companies add the estimated capacity of oil fields in a simple arithmetic manner to get proven oil reserves. This gives a deliberately conservative total deemed suitable for shareholders...

Mabro discusses the historical, economic, political and policy facets of the "oil weapon" scare. Drawing upon the oil unrest of 1973, Mabro asserts, "The oil weapon is a blunt instrument. It is not possible to embargo a country or a set of countries without significant overall production cuts. The policy will then harm friends and foes alike. The reason is that the international trade in oil...

"Saudi Arabia, leader of the Organization of Petroleum Exporting Countries, is discreetly boosting oil production as prices nudge $100 a barrel, the International Energy Agency reports amid growing unrest triggered by mounting fuel and food prices in Arab states.

However, Saudi Arabia and other OPEC members have indicated that they see no reason to increase output to curtail prices that...

Amid rising gasoline prices in the summer of 2011, the Organization of Petroleum Exporting Countries decided to keep oil production levels at the same rate. According to this piece, "Gulf delegates have been pushing in recent days for an increase of one million to 1.5 million barrels a day. But some other OPEC members criticized the plan, arguing that the global oil supplies are sufficient and...

In the months following the BP oil spill in the Gulf of Mexico, an investigative panel suggested that more government oversight and regulation of oil production in the United States was necessary. This article describes the various sides of this issue, noting that one individual in particular suggested "that the government should push for development of alternative energy sources instead of...

This piece discusses the age old problem of price controls. As an example, Rockoff uses the gasoline price controls of the 1970s to demonstrate the economic loss this type of policy brings to individuals and society.

"President Obama spoke from the White House's South Lawn this morning, urging Congress to end the $4 billion in tax subsidies oil and natural gas companies receive from the government every year. Obama noted that 'Exxon pocketed nearly $4.7 million every hour' last year, and simply doesn't need taxpayer subsidies on top of companies' massive profits."

"The discovery of the Spindletop oilfield had an almost incalculable effect on world history, as well as Texas history. Eager to find similar deposits, investors spent billions of dollars throughout the Lone Star state in search of oil and natural gas. The cheap fuel they found helped to revolutionize American transportation and industry."

A recent study on behalf of the Senate's Joint Economic Committee has displayed a link between the Federal Reserve's efforts to boost the economy and a spike in gas prices. Since oil is traded by the dollar, oil prices rise when the dollar weakens, in order to compensate for the difference. Loose money, the study illustrates, hurts the consumer.

"Many strange explanations have been floated to persuade us that the brutal rise in the price of crude is not due to excessive consumption nor sluggish production. An OPEC (Organisation of Petroleum Exporting Countries) minister said recently in all seriousness that because of under-investment in refining, refinery capacity was short, therefore gasoline and diesel prices went up, which pulled...

This piece describes how nations which operate their oil production through the state rather than through private enterprise suffer and have many disastrous economic repercussions. Martinez relates this idea to Venezuela, noting that "the Venezuelan petro-state's extravagant squandering of resources, its massive subsidies which only reward inefficiency, the crude...

According to Russ Roberts, the "fear that we’re running out of oil or some other key resource is a steady feature of the worrying class." Roberts then condemns the moaning and groaning of the pundits, opining that "the worriers are trying to exploit the recent spike in gasoline prices to push public policy in directions that won’t happen otherwise."

"The Middle East, as virtually everyone knows, is the repository of half of the world’s proven oil reserves, the locus of vital shipping lanes and the heartland of Islamic fundamentalist terrorism. Events there directly affect the U.S. economy and its national security, which is why we almost universally view this region as one of paramount importance. That the U.S. military presence has...

Although Americans spend a lot of time worrying about competing with Chinese production, Williamson stresses that we are also competing with the Chinese for consumption, namely consumption of oil. Devalued American dollars do not help our negotiations with OPEC.

"Europe and the US seem to be addicted to oil and unable to pursue their security interests and moral values in regard to Saudi Arabia. US government reports indicate Saudi support for terrorism and the lack of counter-terrorism coopertation. The State Department determined the non-existence of religous freedom in Saudi Arabia and the non-compliance with the minimum standards for the...

"Must it always be opposite day in Washington? Petroleum and gasoline prices are surging while the Obama Administration and its allies seem intent on making things worse. Instead of taking actions to increase supplies of petroleum and gasoline, the Administration pursues policies to restrict U.S. access to its own petroleum, ban imports of vast quantities of Canadian oil, and drive up costs of...

"The initial 1,700-mile pipeline [Calgary-based TransCanada], intended to carry a heavy crude known as tar sands from Alberta across seven U.S. states, has become a political issue. Citing rising gas prices and the need to create U.S. jobs, Republicans have criticized Obama for denying a permit last month and siding with environmentalists who say the crude's development would exacerbate...

Reports that Cuba may be opening its shores to drilling has sparked U.S. concern for environmental safety; however, Mexico--despite its boundary dispute with Cuba--urges talks.

"Venezuela's proven oil reserves are among the top ten in the world. Oil generates about 80 percent of the country’s total export revenue, contributes about half of the central government’s income, and is responsible for about one-third of the country’s gross domestic product (GDP). Increases in world oil prices in recent years have allowed Venezuelan President Hugo Chavez to expand social...

"The world is heading for a catastrophic energy crunch that could cripple a global economic recovery because most of the major oil fields in the world have passed their peak production, a leading energy economist has warned.

Higher oil prices brought on by a rapid increase in demand and a stagnation, or even decline, in supply could blow any recovery off course, said Dr Fatih Birol, the...

"The recent press about the potential of shale gas would have you believe that America is now sitting on a 100-year supply of natural gas. It's a 'game-changer.' A 'golden age of gas' awaits, one in which the United States will be energy independent, even exporting gas to the rest of the world, upending our current energy-importing situation.

The data, however, tell a very different...

A chart depicting world oil supply disruptions from the nationalization of the Iranian oilfields in 1951 through Iraqi's invasion of Kuwait in 1990.

"Don Boudreaux of George Mason University talks with EconTalk host Russ Roberts about the recent surge in energy prices. They talk about why prices have risen, the implications for America's standard of living and the implications for public policy."

"Prof. Steve Horwitz addresses the common belief that the world is running out of natural resources. Instead, there are economic reasons why we will never run out of many resources. In a free market system, prices signal scarcity. So as a resource becomes more scarce, it becomes more expensive, which incentivizes people to use less of it and develop new alternatives, or to find new reserves of...

"There's been a lot of press lately regarding rising oil prices' potential impact on the US economy. And there's certainly some impact—but while recently rising oil prices could be marginally negative for US consumers, the US economy is better prepared to deal with high energy prices than many believe. Here are three charts to help put higher oil prices into perspective."

"On March 8, 2011, the Fordham Student Chapter of the Federalist Society hosted this panel discussion on natural gas drilling. Panelists included: Peter J. Cambs, The Cambs Law Firm LLP and Senior Litigation Counsel, Parker Waichman Alonso LLP; Christine A. Fazio, Partner, Carter Ledyard & Milburn LLP; and Michael Joy, Partner, Lipman, Biltekoff & Joy LLP."

"The current spike in oil prices sparked by unrest in the Middle East is not the first one to hit the United States. Traditionally, higher prices have prompted calls for American energy independence through alternative energy. But skeptics say such calls amount to little more than talk in a nation heavily dependent on cheap foreign oil. VOA New York Correspondent Peter Fedynsky takes a closer...

"President Barack Obama is directing his administration to ramp up U.S. oil production by extending existing leases in the Gulf of Mexico and off Alaska's coast and holding more frequent lease sales in a federal petroleum reserve in Alaska."

"America’s experiment with laissez-faire capitalism in the 1800s was a disaster, historians tell us, because businessmen used anticompetitive tactics to form giant, invincible monopolies. The textbook example of these evils of Big Business is John D. Rockefeller’s Standard Oil Trust. In an era before government regulations and antitrust laws, the story goes, Rockefeller wielded market power to...

"Address by the Secretary General to the OPEC 50th Anniversary Ceremony, delivered by HE Abdalla S. El-Badri, OPEC Secretary General, at the Ceremony organised by the Islamic Republic of Iran's Ministry of Petroleum in Tehran, Iran."

El-Badri celebrates what he believes to be OPEC's milestone. He associates OPEC's prominence in the world oil market with vigilant competition, noting that...

"This report was produced to assist the EPA Office of Policy, Economics, and Innovation (OPEI) in assessing environmental impacts associated with oil and gas production in Region 8. The report discusses several state, regional, and national policy initiatives designed to effect environmentally responsible oil and gas production. In addition, the report’s findings are intended to inform current...

"Venezuela is one of the world’s largest exporters of crude oil and the largest in the Western Hemisphere. The oil sector is of central importance to the Venezuelan economy. As a founding member of the Organization of the Petroleum Exporting Countries (OPEC), Venezuela is an important player in the global oil market."

In this testimony, Dan Sullivan acts as a spokesman for Alaska's governor. According to Sullivan, Alaska is eager and willing to increase its oil production in order to provide more jobs and decrease American dependence on foreign oil. Sullivan is careful to note that Alaska desires to preserve its natural beauty and resources, but he also believes that oil production and resource protection...

"I AM TODAY further modifying Proclamation 3279, March 10, 1959, which established a mandatory oil import control program within the Department of the Interior.

The purpose of this amendment is to permit, effective April 1, 1961, the orderly entrance of new importers, who do not currently qualify as importers, into the residual fuel oil markets of the East Coast. These new importers...

"Venezuela is the world's eighth- largest oil exporter and among the top 10 countries in total proven oil reserves. Venezuela also supplies about 11 percent of current U.S. imports of crude oil and petroleum products and wholly owns five refineries in the U.S. Consequently, Venezuela is a key player in the future energy security of the United States and the world.

The current global oil...

A statement given by Erik Milito of the American Petroleum Institute addressing President Obama's March 30, 2011 speech on America's energy policy. Milito said, in part, "We hope the president will abandon energy politics in favor of energy policies that will provide Americans what they want and deserve: more energy, economic growth and more jobs. We have a million American jobs that we can...

This public law is cited as "An Act To ensure that all oil and gas originated on the public lands and on the Outer Continental Shelf are properly accounted for under the direction of the Secretary of the Interior, and for other purposes."

"H.R. 1230 would require the Department of the Interior (DOI) to auction offshore oil and gas leases in the Central and Western Gulf of Mexico, as well as in an area off the coast of Virginia. Specifically, H.R. 1230 would require the Secretary of the Interior to conduct offshore oil and gas lease sales as follows:

1. Lease sale 216 in the Central Gulf of Mexico 'as soon as...

A telegram from Herbert Hoover protesting the distribution of pamphlets to oil workers that alleged Hoover had personal connections to foreign oil. "I HAVE your telegram stating that Democratic agents despite all proof to the contrary are still circulating misleading statements through the oil fields that I have been opposed to relief to the oil industry because of my supposed interest in...

In 1979, President Jimmy Carter declared the following:

"Our Nation's energy problem is very serious—and it's getting worse. We're wasting too much energy, we're buying far too much oil from foreign countries, and we are not producing enough oil, gas, or coal in the United States."

Carter went on to describe how he intended to help the U.S. reduce its dependence on foreign oil,...

"BATON ROUGE (June 14, 2010) - The six-month drilling moratorium in the Gulf of Mexico will cripple Louisiana's economy and leave thousands of families without income, particularly in coastal Louisiana, where one in three jobs is related to the oil and natural gas industry. In Louisiana, oil and gas production can be divided into three industries - oil and gas extraction, refineries and...

In this testimony, Michael Greenstone discusses the cap on liabilities implemented by the Oil Pollution Act of 1990. According to Greenstone, "The American people depend on the government to find an appropriate middle ground, and to determine the...

Obama's Weekly Address on gas prices:

The President admits that soaring gas prices are debilitating in an already ailing economy. He calls for fraud-regulation--overseen by the U.S. Attorney General--and increased domestic production. He promotes an end to taxpayer subsidies to oil, and also emphasizes environmental protections.

This Statute, published by OPEC in 2008, outlines the Organization's basic initiatives, objectives, membership, organs, and provisions.

"This article presents a summary of the legislative and regulatory regime that affects natural gas and oil exploration and production in offshore regions of the United States. It discusses the role and importance of these areas as well as the competing interests surrounding ownership, production, exploration and conservation."

In a speech at Georgetown University, President Obama outlined his energy policy for the nation. While past presidents have continually argued for the need to reduce America's dependence on foreign oil, President Obama urged reduction on all oil dependency. Furthermore, the President condemned the idea that increased domestic oil drilling will solve the energy problems the nation faces.

A nationally broadcast radio address where Richard Nixon spoke about the growing energy crisis.

"As America has grown and prospered in recent years, our energy demands have begun to exceed available supplies. In recent months, we have taken many actions to increase supplies and to reduce consumption. But even with our best efforts, we knew that a period of temporary shortages was...

Remarks upon the occasion of the signing by Richard Nixon of a bill that changed time (H.R.11324).

"I AM pleased to sign today H.R. 11324, placing the United States on daylight saving time for a period of approximately 2 years, beginning at 2 a.m., Sunday, January 6, 1974.

We have taken a number of actions to meet the energy crisis, and more will have to be taken. Many require...

In Executive Order 12287, President Reagan overturned price controls on domestic oil production. This statement describes President Reagan's reasons for this move, one of them being the fact that "[p]rice controls have ... made us more energy-dependent on the...

For many years, John D. Rockefeller's Standard Oil Company dominated much of the oil production in the United States. In the early twentieth century, Standard Oil was taken to court on the allegation that they had violated the Anti-Trust Act of 1890. This Supreme Court decision delineates the outcomes of this lawsuit.

This archive from the New York Times details the politics in the early 1900s involving the Standard Oil company. Apparently an attempt at an "October surprise," John D. Rockefeller announced his support for the Republican candidate, William Taft. Due to the anti-trust issues Teddy Roosevelt had hurled at Rockefeller's Standard Oil Company in the preceding years, Roosevelt's White House...

"The Obama Administration and its allies have declared war on coal across all of Appalachia. We are ground zero for the fundamental overreach of the Obama regulatory agenda. They appear to be hell-bent on hurting those who work in the coal mining industry. The rural regions of Ohio, Kentucky, West Virginia, Tennessee, Illinois, Indiana, and Pennsylvania would be devastated from losing major...

In this testimony, James Martin declares that "America's rising ... oil import dependence imposes drastically on the domestic economy." Martin goes on to encourage more domestic oil production in order to ease the financial and security burdens foreign oil dependence places on the U.S.

This testimony discusses the effect EPA closures of coal mines would have on the West Virginia economy and infrastructure. Roberts notes the number of workers that would lose their jobs, while also pointing out the negative residual effects these job losses would have on local businesses and tax revenue.

"This 1989 report contains the results of an investigation requested under Section 232 of the Trade Expansion Act to study the effect of oil imports on the domestic petroleum industry and on United States energy security. It reviews previous energy security assessments and resulting initiatives, assesses current U.S. energy security, and studies emergency petroleum requirements. The report...

This famous example of early twentieth century "muckraking" was produced by Ida Tarbell in 1904. According to Ms. Tarbell, the Standard Oil Company "was the first in the field, and it has furnished the methods, the charter, and the traditions for its followers." Part two of this volume can be found...

"Speech by OPEC Secretary General, HE Abdalla S. El-Badri, to the International Energy Symposium, on the occasion of OPEC’s 50th Anniversary - Riyadh, Kingdom of Saudi Arabia, 18-20 October 2010":

El-Badri emphasizes OPEC's 50 year anniversary and its history in the world oil market, citing international opposition to OPEC when it was founded in 1960. El-Badri specifies OPEC's...

"The windfall profit tax (WPT) was a special, temporary excise tax enacted in 1980 and repealed in 1988. It was an excise tax, not a profits tax, imposed on the difference between the market price of oil and a base price, which was adjusted for inflation and State severance taxes. Nearly all domestically produced oil was subject to the tax. The main purpose of the tax was to recoup for the...

In the 2007 State of the Union address, President George Bush asked Congress and America to "join him in pursuing the goal of reducing U.S. gasoline usage by 20 percent in the next ten years - twenty in ten."

"I am pleased to be here today to participate in your hearing on the challenges and opportunities related to the potential development of unconventional oil and natural gas resources. As you know, fossil fuels are important to both the global and U.S. economies, and among other things, we rely on oil to fuel our transportation vehicles and on natural gas to a significant extent to heat and...

This anthology offers a very straightforward overview of the foreign oil conundrum, chronicling opposing perspectives on the oil supply and the possibility of energy independence. Articles, written by prominent policy makers, include discussions of the role of oil in the invasion of Iraq, national security threats, fuel economy standards, ethanol, and the the ethics of drilling in the Arctic...

"Ninety percent of the world's oil reserves are entrusted to state-owned companies. Originally created as political instruments, these so-called national oil companies (NOCs) face new demands amid today's dwindling oil reserves and simmering social pressures. Increasingly, state-owned oil firms—particularly in the Middle East—must balance the political demands of their governments with the...

"Pictures of oil as the glittering prize, the source of global power and empires, or the hub of an energy crisis have gushed through the media since 1973. What actually happened was very different. M. A. Adelman had written in 1970 that "the genie is out of the bottle," that a group of oil producing countries would control the oil trade to raise prices. Now, twenty-five years later, he has...

"The Paradox of Plenty explains why, in the midst of two massive oil booms in the 1970s, oil-exporting governments as different as Venezuela, Iran, Nigeria, Algeria, and Indonesia chose common development paths and suffered similarly disappointing outcomes. Meticulously documented and theoretically innovative, this book illuminates the manifold factors--economic, political, and social--that...

"Chronicles the struggle for wealth and power that has surrounded oil for decades and that continues to fuel global rivalries, shake the world economy, and transform the destiny of men and nations."

"For fifty-five years, the United States and Saudi Arabia were solid partners. Then came the 9/11 attacks, which sorely tested that relationship. In Thicker than Oil, Rachel Bronson reveals why the partnership became so intimate and how the countries' shared interests sowed the seeds of today's most pressing problem--Islamic radicalism.

Drawing on a wide range of archival material,...

"Americans are increasingly concerned about energy. Demand is increasing faster than supplies while much of the world’s oil is delivered in a restrictive market dominated by unstable or hostile nations. Meanwhile, many Americans harbor misunderstandings and myths about energy, the environment, and market forces. They want low prices and plentiful supply, but resist steps that must be taken to...

"The Institute for Energy Research (IER) is a not-for-profit organization that conducts intensive research and analysis on the functions, operations, and government regulation of global energy markets. IER maintains that freely-functioning energy markets provide the most efficient and effective solutions to today’s global energy and environmental challenges and, as such, are critical to the...

The Council on Foreign Relations offers an interactive timeline of the history of American oil dependency. It begins with the rise of oil as a fuel commodity in the 1880's, progresses through the boom of oil competition and foreign policy with the Middle East in the 1960's and 70's, and ends with the U.S. strategy of deregulation and diversification.