The U.S. and the International Energy Agency announced today that they plan to release 60 million barrels of crude oil from reserves over the next 30 days. Adolfo Laurenti, deputy chief economist with Mesirow Financial, explains.
Last week, Senator Tom Coburn pushed for a vote on a measure to cut subsidies for ethanol. The 45 cent a gallon tax credit for ethanol cost the federal government nearly $5.5 billion last year. Senator Coburn explains the legislation.
Professor Kent Moors, and author of "The Vega Factor: Oil Volatility and the Next Global Crisis" discusses why OPEC decided to keep oil production levels steady when most analysts were expecting an increase.