After a credit-fueled energy boom and a punishing downturn, U.S. shale drillers now spend the vast majority of their operating cash flow paying off the debt they took out to expand their drilling.
When the news of the settlement with Shell came in early January, John Gbara and his wife sat down and tallied up the amounts. Soon, they would each receive about 600,000 naira (roughly $3,000) in their bank accounts.
The retrenchment in drilling for U.S. oil is threatening to leave a different market short: natural gas.
California still is the only major oil-producing state that doesn’t tax the goo as it’s pumped from the earth. Yes, high-tax California. But never has there been a better time to change that and start making the oil companies pay their fair share.
For nearly all of the first century of automobile travel, getting your license meant liberation from parental control, a passport to the open road. Today, only half of millennials bother to get their driver’s licenses by age 18. Car culture, the 20th-century engine of the American Dream, is an old guy’s game.
POET, one of the world’s largest ethanol producers, released its first-ever economic impact study, revealing the impact the company has made to national economic growth and job creation in 2014.
The Obama administration signaled that it would not back legislation to authorize widespread crude exports, as a Republican-led effort to lift decades-old restrictions on foreign oil sales gained steam on Capitol Hill.
Iowa fuel retailers who want to offer the E-15 blend of ethanol can now get help through the Iowa Renewable Fuels Association’s infrastructure program.
Crude oil production in October from seven major US shale plays is expected to drop 80,000 b/d to 5.21 million b/d, according to the US Energy Information Administration’s latest Drilling Productivity Report (DPR).
While the massive Bakken oil boom drew hordes of job seekers and international attention to the remote prairies of North Dakota and Montana in recent years, it’s turned into a money loser for most cities and counties in the region.
