Today, inspired by a New York Times weekend editorial, Energy Outlook blogger Geoff Styles discusses the Waxman-Markey climate bill and the legislation's potential impact on gasoline prices.

Geoff says the Times doesn't get the rationale for cap & trade as well as they think they do:

"The Times appears to accept the government's analysis suggesting that the increase would amount to no more than 20 cents per gallon by 2020, though this conventional wisdom collides with common sense, since such a low price on carbon seems unlikely to stimulate sufficient conservation and investments in efficiency to deliver on a steadily-shrinking national emissions cap. In particular, the Times seems unfazed by the way the bill's allocation of free emission allowances is stacked against the oil industry, s... more »

We all know what Astroturf is on the gridiron, but what does it mean when it's applied to a series of very successful Energy Citizens rallies?

Based on what I've seen at six of the rallies, it is a misapplied term that demeans the spirit and the passion of the people who participated. Simply put, it disses them. And those who disrespect them apparently don't understand the depth of their feelings about the misguided Waxman-Markey bill.

Look at the facts. So far 18 rallies have been held in 17 states. More than 12,000 people from all walks of life have attended. Many were seniors who told me they heard about the rally on the radio or through a phone call from a friend. Others included laborers, truckers, farmers, homemakers, small business people, veterans, and the unemployed. A contingent... more »

Three more Energy Citizens rallies were held on Thursday, Sept. 3. About 200 people attended the rally in Richmond, Virginia; 300 participated in the rally in Chester, Pennsylvania, near Philadelphia; and 750 showed up in Detroit, Michigan, which was far more than anticipated.

At each rally, the concerns voiced by the audience were the same. They said they want affordable energy and jobs, and they are encouraging the U.S. Senate to carefully consider the economic impact of the Waxman-Markey bill, which was passed by the House of Representatives in late June. As one speaker in Richmond said, the Senate should get it right.

Another speaker in Richmond used a football analogy to explain his concerns about the Waxman-Markey bill, and he got a standing ovation. He is Chris Saxman, a member of t... more »

A group that lobbies for ethanol wants consumers to know where their fuel come from, so it has asked Congress to require gasoline dealers to put labels on their pumps. According to The Hill, the ethanol group Growth Energy believes that consumers won't like where some of their fuel originates and are likely to prefer purchasing homegrown ethanol made from U.S. corn.

This clever marketing strategy is being pushed by Retired Gen. Wesley Clark, co-chairman of Growth Energy, who no doubt has witnessed the financial difficulties of many ethanol producers during the recession. But it's completely unworkable.

As API's Rayola Dougher explained to The Hill, it would be impossible to determine precisely where each gallon of gasoline originated. Oil is purchased based on its chemical properties on th... more »

BP has announced a so-called "giant" oil discovery in the ultra-deep waters of the Gulf Mexico that might contain more than 3 billion barrels of oil. The discovery was made at the Tiber Prospect, which is about 250 miles southeast of Houston. As reported by Bloomberg, the well is the world's deepest exploratory well, drilled down to 35,055 feet, a distance that's greater than the height of Mount Everest.

BP spokesman Robert Wine was quoted as saying, "This is a whole new geological play we've got here."

The well was drilled in the Lower Tertiary, also called the Paleogene, region of the Gulf, which is believed to be 24- to 65-million years old. ExxonMobil and Chevron also are drilling wells in the formation.

Just a few years ago, no one would have believed it was possible for a drill bit t... more »