Fiscal deal will end crude oil export ban, Ryan says
It lifts the 40-year-old ban on exporting U.S. crude, a long-sought GOP goal.
Texas oil company wants to build artificial island off Alaska to drill for black gold
A Texas oil company could soon start the first petroleum production in federal Alaskan waters. Hilcorp wants to build a gravel island in the Beaufort Sea for production purposes, with the hope of yielding up to 150 million barrels of oil over 15 years.
Big Oil, make way for Big Solar. The winners and losers in Paris
Saving the world isn’t going to be cheap. If you sell oil, coal or old-fashioned cars, that threatens disaster. For makers of stuff like solar panels, high-tech home insulation, and efficient lighting, it’s a potential miracle. That’s the bottom line from this weekend’s climate deal in Paris.
Oil is tanking, and that’s great
The lower cost of gasoline is effectively putting $100 billion a year extra into the pockets of American consumers.
U.S. oil settles at $35.62 a barrel, plunges over 10% for week
U.S. oil futures settled lower on Friday after the International Energy Agency (IEA) warned that global oversupply of crude could worsen next year.
Abengoa shuts down Hugoton cellulosic ethanol plant
In Kansas, Abengoa has decided to suspend production at its new cellulosic ethanol plant in Hugoton as well as its corn-based ethanol plant in Colwich as part of the recent financial troubles the company is suffering from that may eventually lead to bankruptcy.
OPEC unity shattered as Saudi-led policy leads to no Limits
OPEC has abandoned all pretense of acting as a cartel. It’s now every member for itself.
The party is over for oil
When oil prices started taking off in 2004, it was part of the same “commodity supercycle” that sent prices of so many other commodities spiraling up. Oil stayed at the party longer than anyone else but now, the party is over.
Oil slumps to near seven-year low on OPEC inaction, dollar
Crude oil futures tumbled to their lowest in nearly seven years on Monday after OPEC failed to address a growing supply glut, while a stronger dollar made it more expensive to hold crude positions.
U.S. oil rig count falls to lowest level since June 2010
The U.S. oil rig count fell by 10 to 545 last week, for a third period in a row, according to oil driller Baker Hughes. That’s the lowest tally since the week of June 4, 2010.
