Video: USA Oil Policies explained

Do you know who has the biggest oil and energy reserves? It may not be who you think..

IER Board Member, Steven Hayward, exposes how US energy policies have restricted access to America's vast energy resources. You may have previously thought America had little to none of it's own reserves but this is not the case. America is tehrefore less competitive in the world, energy prices are skyrocketing, and the economy is suffering. Steven Hayward points out that the United States must open federal lands to exploration and end the regulatory blockade that keeps shale oil and gas out of our reach.

News: Oil prices drop again after Brief Recovery

Crude was seen to drop to record lows earlier this week reaching $77.61 per barrel only to recover throughout the week to more comfortable levels. However prices dipped again yesterday causing Oil Prices to sit at $82.06 before settling down at $82.59 per barrel on Thursday.

Meanwhile the ICE Futures Exchange reported Bent Crude down $1.16 placing it at $104.59 per barrel on Thursday 6th October 2011. The dip in value doesn't yet see the record low of $101.71 we had last week and hopefully this means we'll see the prices stabilise again in the coming week.

As for other natural resource trading, heating oil fell 2.3 cents to $2.838 per gallon, gasoline futures fell 2.8 cents to $2.658 per gallon and finally natural gas lost 3.6 cents to $3.562 per 1,000 cubic feet.