Government experts have estimated that ANWR reserves would only provide enough oil for six months of U.S. oil consumption. In addition, the oil industry itself has estimated that it would take 10 years to bring this oil to the market.
Getting toxic lead out of gasoline, the oil industry shouted, would cost a dollar a gallon. It turned out to cost just a penny a gallon to protect hundreds of thousands of kids from lead-induced brain damage.
When people think of the oil industry, they think of Rockefeller, much like when people think of the software industry, they think of Bill Gates.
I've voted in some cases to remove and reduce tax breaks for the oil industry in other cases I've voted not to because I felt that the proposals covered too much.
The oil industry fought hard to keep Keystone alive, making wildly exaggerated claims that the pipeline - the country's largest infrastructure project - would create tens of thousands of jobs and decrease America's reliance on oil from the Middle East.
Across the country, people are willing to tighten their belts and sacrifice. The president should ask the oil industry to do the same.
One lesson I got from Gandhi, 'Be the change you want to see,' haunts me. I just feel like I can't keep stomping around pointing the finger at BP when I am supporting the oil industry with my very own dollars and actions by buying their products, helping to pay their mortgage - plastic is from oil... polyester, shower curtains.
Daniel Masters is a master of the commodities markets with over 30 years experience. His bitcoin strategy is based on the parallels he sees from the oil industry in 1999 to the current state of bitcoin.
You see this in the oil industry time and time again. Fears that we've found the last oil, that we're going to run out, pop up constantly. And soon afterward, because the price goes up, huge new reservoirs are discovered.
Measuring the oil industry in dollars gives you a very warped view. Pick a sound currency such as Swiss francs or gold grams and look at the oil business through that lens.
