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A more likely scenario, though, is a 5% drop.

US fuel consumption may "fall" to 7 million barrels a day by 2035 if EVs account for a third of new-car sales.

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If you've got a marginal well, you almost can't lose.

For the first time since the law went into effect in 2005, a tax credit to help marginal well oil producers is paying out, thanks to low prices.

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Low oil prices could run the country dry in five years.

A new plan called Vision 2030 includes selling a portion of the state-owned oil company Aramco.

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According to Navigant Research, EV adoption will be a relative drop in the bucket.

Navigant Research says better overall MPG, autonomous driving features, and alt-transportation programs will have a greater impact on oil demand than EVs.

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"You have to believe that there is a possibility that you will not necessarily go back above $100, you know, ever," said Ian Taylor, CEO of the world's largest independent oil trader.

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Crude trades for around $30 a barrel, but an oil drum will set you back about $99 each.

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Oil Producing Countries Dismiss Electric Cars, Other Alternatives

OPEC's latest World Oil Outlook one again gives the cold shoulder to alt-fuel vehicles, saying that EVs will likely, "not achieve mass market appeal."

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Oil industry analysts can't decide how crude prices might change by the end of the year. With a huge inventory already in the stockpile, global demand is going to determine the price.

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Renault-Nissan CEO Says Regulations Will Keeps EVs Coming

People will keep on buying EVs since various emissions regulations will mean automakers will continue to build them, no matter what happens to gas prices.

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The national average for a gallon of unleaded regular gas dropped 18.2 cents to $3.05

AAA's predictions of cheap gas for the coming fall season are already being realized. Gas prices across the country are dipping to the lowest levels seen in almost four years.

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If you haven't noticed, it has been a little cheaper to fill up at the gas station for the last few weeks. According to the US Energy Information Administration, the current national average cost for a gallon of gasoline is $3.299. That's down about a nickel from the previous week and around seven cents lower than this time last year. It doesn't look like this is just a temporary blip either because there's a strong possibility that Saudi Arabia may compel OPEC for lower oil prices for the near

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At least one author is warning consumers not to be fooled by relatively steady gas prices and prognostications of plentiful petroleum. Richard Heinberg, in his book Snake Oil: How Fracking's False Promise of Plenty Imperils Our Future is warning people that any prediction that the world has staved off the prospect of diminishing returns on continued oil drilling is inaccurate, and that the recent increase in supply may merely accelerate the overall decline.

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It's just one in a laundry list of factors, but more fuel-efficient cars could make a difference in lowering oil prices dramatically to half their present levels, plunging to $50 a barrel by the end of the year. That's what Gulf Oil CEO Joe Petrowski is predicting in a new interview on CNBC's Squawk Box, though he is quick to point out that a halving of oil prices doesn't necessarily translate to a halving of fuel prices. And, as CNN reports, lower oil prices could mean protests in oil-producing

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Experts say president has little control over volatile oil prices

Tonight's third and final presidential debate is scheduled to focus on foreign policy. But in doing so, President Obama and Gov. Mitt Romney will likely address a decidedly domestic issue – gas prices.

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It has always been the habit of the party that doesn't occupy the White House to blame various ills on the party that does. Especially in the past few years when it has come to gas prices, the party-in-waiting has blamed the POTUS for "pain at the pump." We're not taking sides here – Republicans are doing it to Obama now, just like Democrats did it to Bush. Unfortunately for their arguments, the President has about as much control over the price of oil as he does over the price of bread; i

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It has always been the habit of the party that doesn't occupy the White House to blame various ills on the party that does. Especially in the past few years when it has come to gas prices, the party-in-waiting has blamed the POTUS for "pain at the pump." We're not taking sides here – Republicans are doing it to Obama now, just like Democrats did it to Bush. Unfortunately for their arguments, the President has about as much control over the price of oil as he does over the price of bread; i

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In 2008, when Democrats were suggesting President Bush was causing America's then-high gas prices, Fox News went to the mat to support their Commander in Chief, repeatedly explaining why the President can't really control gas prices. Media Matters has collected some of these clips into a flashback video (which you can find below) and it's a good history lesson at a time when gas prices are again near the top of the list of political quote bombs being thrown at the current President. The issue is

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How's this for bold? Congresswoman Michell Bachmann, a candidate for the Republican presidential nomination who won the Ames Straw Poll last weekend, has just stated that one thing we'd get with a Bachmann Administration is – ready? – cheap gasoline. According to Politico she said:

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In early May of 2011, the national average price of gasoline in the United States hit exactly $4 a gallon before falling to the current level of $3.56. However, if predictions from Barron's hold true, then prices will shoot back up in early 2012, hitting $4.50 by next spring.

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