The just-unveiled Republican tax bill will eliminate a $7,500 federal tax credit for electric vehicles, and that would be Terrible news for Tesla. Shares of the automaker, already down after its earnings report, fell sharply on the news.
Back when just about every oil pump jack in town was running, Tara Smith had more work than she could handle.
“There’s a tension in oil and gas law between allowing private property owners to develop their mineral estates on their own and the state’s desire to ensure that ultimate recovery of oil and gas is maximized.”
This week some comments from OPEC Secretary General Mohammed Barkindo signaled that OPEC may not understand how the U.S. oil industry functions.
U.S. oil output remains robust and may still surpass the record annual average of 9.6 million barrels a day, set in 1970. But companies, confronting technological, operational and financial obstacles, are starting to ease up on drilling.
When President Trump made a speech a few weeks ago to kick off his push for an overhaul of the tax code, he chose a telling backdrop: An oil refinery in North Dakota, a state that over the past decade exploded from backwater to boom town thanks to a massive spike in oil production.
After nearly a century of building vehicles powered by fossil fuels, General Motors — one of the world’s largest automakers — announced Monday that the end of GM producing internal combustion engines is fast approaching.
When crude prices crashed in early 2016 to $27 per barrel, most industry executives said the world had seen the last of oil at $100.
If Texas’s Permian Basin is Exhibit A for the U.S. oil boom that refuses to die, then the Eagle Ford, a smaller shale patch some 400 miles to the east, represents all those places that have been left behind.
Quite simply, oil prices are rising because demand is increasing.
