The future of the petroleum balance is always shrouded in a fog of uncertainty.

FORBES: Petroleum Balance

No matter how much oil the United States and its friends in the Western Hemisphere produce, the Middle East remains a principal global petroleum producer for the foreseeable future.

CNN: America, the Saudi Arabia of tomorrow

Although much of the publicity for fuel cells has centered on the possible future replacement of petroleum-based fuels in automobiles, Redstone is much more confident in the viability of Medis products designed for applications that may be more mundane but just as ubiquitous.

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Oil and gas firms are in the sweet spot of innovation to ensure an ample and growing supply of petroleum products for transportation for an open-ended future.

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If current trends continue, the Venezuelan people will have lost the chance to transform their possibly transitory petroleum bonanza into a permanent increase in long term growth rates and future prosperity.

CENTERFORSECURITYPOLICY: Venezuelan oil bonanza

In the midst of financial and political turmoil throughout Europe, the Organization of Petroleum Exporting Countries (OPEC) met last Thursday in Vienna, Austria, to discuss the future of oil production.

FORBES: Saudi Arabia Keeps OPEC Spigots Open

But with Congressional Republicans attempting to bar the military from buying biofuels that cost more than petroleum, the industry has been forced to fight to preserve the status quo rather than focus on the future.

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And separately, does he believe that the Strategic Petroleum Reserve, should that be used as a tool to moderate price as opposed to just being a stockpile for future emergencies?

WHITEHOUSE: Press Briefing