To the Point
Is the Gravy Train over for Oil?
The price of oil has dropped like a stone in the past few months, and the price of gasoline is going down along with it. While it's good news for drivers -- at least for the moment, is it a sign of long-term weakness in the oil economy?
By Warren Olney • • 52m ListenThe price of oil has dropped like a stone in the past few months, and the price of gasoline is going down along with it. While it's good news for drivers -- at least for the moment, is it a sign of long-term weakness in the oil economy?
Later on today's program, Syria's President Bashar al-Assad visits President Putin in Moscow.
Photo: Oil pump jack in West Texas (Paul Lowry)
In this episode
3 storiesBiden's Out for 2016 Presidential Race
In the White House Rose Garden today, with President Obama and his wife, Jill Biden at his side, Vice President Joe Biden said he's decided not to run for his party's presidential nomination. Juliet Eilperin, who reports from the White House for the Washington Post , has more on Biden's decision.
Read the story6 minWhat's Happened to North America's Oil Boom?
The price of crude oil has dropped by 50 percent in the past year. Shell won't be exploring for oil in the Arctic Ocean after all. In the Gulf of Mexico, leases for new oil wells aren't selling. Tens of thousands of workers are being laid off, from Texas to North Dakota to Central Canada. Hydraulic fracking equipment is lying idle.
Read the story35 minMr. Assad Goes to Moscow
It appears that Syria's President Bashar al-Assad is not staying home anymore because he's afraid of a coup. Yesterday he visited Moscow at the invitation of Vladimir Putin, who has been giving military support to Assad's regime.
Read the story9 min
