Plan To Release Extra 1M Barrels Of Oil Per Day Won't Have Huge Impact, Retired SMU Economist Says
"It sounds like a lot, but one million barrels a day is only equivalent to 1% of global oil output," said retired SMU economist Bud Weinstein.
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"It sounds like a lot, but one million barrels a day is only equivalent to 1% of global oil output," said retired SMU economist Bud Weinstein.
Drivers in Maryland and Georgia have seen almost immediate relief from tax holidays. But there could ultimately be a cost.
According to AAA Texas, the statewide gas price average is $3.89 for a gallon of regular unleaded fuel. That price is seven cents less than from this day last week.
The White House was considering sending gas cards to families to cushion the blow from record-high gas prices.
AAA Texas said on Mar. 17 that the statewide gas price average in Texas had fallen to $3.96 per gallon - a drop of $0.04 since last week - but warn the relief may only be temporary.
Fuel costs in the U.S. may have crested as investors pin their hopes on a ceasefire in Ukraine.
Police in Texas are searching for thieves who allegedly stole more than 1,000 gallons of gasoline and they did it in front of other customers who weren't involved.
When CBS News asked Americans in favor of the oil sanctions whether they would still support them if gas prices rose, most of them still would, resulting in majority support even after the cost implications.
As gas prices continue to rise, some North Texans are seriously considering other forms of transportation to get around, including riding a bike.
Public transit agencies are watching ridership numbers as high gas prices could push more people to look to trains and buses as an alternative to driving.
Drivers in Texas are reportedly paying the 14th lowest gas price average of any state in the country, but that doesn't ease the $4 a gallon pain at the pump.
Wesley Speelman told CBSDFW on Facebook, "Honestly, if companies initiated work from home again, even for like 2-3 weeks, it would be enough to offset gas prices."
North Texans who spoke to CBS 11 Tuesday night said they don't have a choice to work from home, so they have to pay the price.
While they do have paid drivers to help get all those meals out, Meals on Wheels relies heavily on volunteers who pay for their own gas.
In Texas, the current average price of a gallon of gas is about $3.73.
The increases are coming so fast, up 15% in a week according to AAA Texas, some truck drivers could struggle to keep up.
Gas prices continued to climb Monday, rising to just short of a record high. At their skyrocketing pace, the price per gallon record of $4.11 will probably be broken in just a day or two.
The pain at the pump continues as people shell out more and more money at gas stations, and it's impacting local businesses that rely on delivery drivers.
At her student transportation business in Watauga, Rushelle Wetzel said the fuel cost for her 19 large vans climbed from about $1,300 to more than $2,000 in just a week.
With crude oil prices hitting an 11-year high, no crystal ball needed to predict what's next: higher prices at the pump.
The energy market has been volatile in recent weeks due to the war between Russia and Ukraine, causing uncertainty about Russia's large crude oil supplies.
Russia's invasion of Ukraine has sent oil futures above $100 a barrel and will probably bring $4-a-gallon gasoline to much of the US. But it won't be a major drag on American economic growth.
Recent developments in the conflict between Russia and Ukraine have future oil prices soaring to around $100 a barrel – the highest since 2014.
According to AAA Texas, the gas price average in the state is $3.22 for a gallon of regular unleaded fuel.
The statewide gas price average is $3.00 for a gallon of regular unleaded fuel. That price is four cents more than from this day last week.
Red, white, and blue filled Klyde Warren Park in Downtown Dallas, but it's the flag of France, not the U.S.A., flying over hundreds of fans.
During a campaign event in Bullard, in East Texas, on June 30, Abbott told supporters that the state needs to press the brakes on data center developers.
"Most children's experiences with people costumed as animals comes in the context of fun encounters in theme parks. This defendant turned a furry costume into a nightmare of sexual abuse," the U.S. attorney said.
City leaders are considering a temporary moratorium on new projects as concerns over growth, neighborhoods and resources fuel a larger debate happening across Texas.
With one final to go on Tuesday, organizers say their focus is already shifting to the future, as they try to secure their spot to host the 2031 FIFA Women's World Cup.
Red, white, and blue filled Klyde Warren Park in Downtown Dallas, but it's the flag of France, not the U.S.A., flying over hundreds of fans.
During a campaign event in Bullard, in East Texas, on June 30, Abbott told supporters that the state needs to press the brakes on data center developers.
"Most children's experiences with people costumed as animals comes in the context of fun encounters in theme parks. This defendant turned a furry costume into a nightmare of sexual abuse," the U.S. attorney said.
City leaders are considering a temporary moratorium on new projects as concerns over growth, neighborhoods and resources fuel a larger debate happening across Texas.
With one final to go on Tuesday, organizers say their focus is already shifting to the future, as they try to secure their spot to host the 2031 FIFA Women's World Cup.
A growing number of solar customers across the country have been left in limbo following a company's closure or bankruptcy.
Prosper police detectives say they were punished after reporting an alleged affair between a sergeant and a detective, prompting accusations that the department retaliated against whistleblowers.
Only about 7% of homes in Texas have flood insurance.
Payments for country club dues, luxury jet services, and even a reality show competition are not how you'd expect a community non-profit to use its donations.
An alleged leader of the operation was arrested in Europe and returned to the United States last week.
Gov. Ggreg Abbott has instructed the Texas Health and Human Services Commission to investigate so-called birth tourism packages.
Sen. Mitch McConnell released a statement on his health on Sunday along with a photo of himself and his wife, Elaine Chao, after questions swirled about his condition.
The 71-year-old four-term senator passed away after a "brief and sudden illness," his office announced.
Lindsey Graham, the senior U.S. senator from South Carolina, died suddenly at age 71 on Saturday.
Texas Republicans disagree over prohibiting AI data centers in rural Texas neighborhoods.
Target, which embarked on a turnaround plan under its new CEO earlier this year, reported an increase in first-quarter sales Wednesday.
During the program's first year, it will be offered at about 65 to 75 hospitals that handle about a quarter of births in the state and largely serve low-income patients, Newsom's office said.
Bimbo Bakeries USA employs over 20,000 people and has been headquartered in Horsham, Pennsylvania, for the past 17 years.
This explosion is among several similar incidents across North Texas that raise questions about why hazardous natural gas leaks keep happening
Zoox, owned by Amazon, produces its own autonomous vehicles that it says are built for passengers, not drivers.
Texas health officials are urging families to safely wash, handle and cook produce as Cyclospora cases rise.
Here's a breakdown of what you need to know about this pest and how to keep your pets safe and healthy.
Health officials are warning Texans about a seasonal rise in the intestinal parasite cyclosporiasis, with cases reported across the state.
Former NFL running back Chris Johnson announced that he was diagnosed with ALS, also known as Lou Gehrig's disease, in a "Good Morning America" interview.
Gallup found that only 49% of Americans were "cost-secure" last year, with concerns about medical bills and prescription costs rising across income groups.
Mayor Jim Ross said hotel revenue in the city was a record $31 million in June, smashing the previous mark of $23 million.
Cuban alleges Patrick Dumont has engaged in "adversarial business practices."
During every U.S. World Cup match, 18-year-old Aaron Dotson was selling patriotic gear in downtown Dallas.
A growing number of solar customers across the country have been left in limbo following a company's closure or bankruptcy.
Customers say they've gone to three, sometimes even four stores, to find a specific jersey.
Red, white, and blue filled Klyde Warren Park in Downtown Dallas, but it's the flag of France, not the U.S.A., flying over hundreds of fans.
With one final to go on Tuesday, organizers say their focus is already shifting to the future, as they try to secure their spot to host the 2031 FIFA Women's World Cup.
Paige Bueckers had 22 points and 11 assists, Jessica Shepard added 19 points and 10 rebounds, and the Dallas Wings beat the Chicago Sky 96-91.
Brandon Nimmo hit a game-ending single that drove in Wyatt Langford with his third hit of the game, and the Texas Rangers beat the Houston Astros 6-5 to enter the All-Star break with a winning record at 49-47.
The assignment is perfect for Lt. Ja'Nae McGee, who played soccer in both high school and college.
New Zealand actor Sam Neill, known for "Jurassic Park" and "The Piano," died Monday at 78, his family says.
Bonnie Tyler, the Welsh pop star best known for singing the chart-topping power ballad "Total Eclipse of the Heart" in 1983, has died. She was 75.
The nominations for the 78th annual Primetime Emmy Awards were announced Wednesday morning in Los Angeles, with the final season of HBO Max's "Hacks" setting a new record for the most nominations in a single year for a comedy series.
Taylor Swift and Travis Kelce were married as they celebrated their wedding with hundreds of guests Friday at Madison Square Garden in New York City.
Ticket reseller StubHub abruptly canceled customers' tickets to World Cup matches, costing them thousands of dollars, a lawsuit alleges.
The Red Bull Flugtag Airshow returned to Las Colinas on Saturday after a 12-year hiatus. Teams are tasked with constructing a flying machine and putting it to the test. It's estimated that around 25,000 people attended the event.
A suspect was taken into custody after an attack on Pearl Street Mall in Boulder on June 1 in which there were 15 people and a dog who were victims. The suspect threw Molotov cocktails that burned some of the victims, who were part of a march for Israeli hostages.
The Neonatal Intensive Care Unit babies at Texas Health locations across North Texas celebrated Valentine's Day.
As Anthony Davis prepared for his debut game at the AAC, Dallas Mavericks fans took to the arena to protest the controversial trade.
A look back at the esteemed personalities who've left us this year, who'd touched us with their innovation, creativity and humanity.
