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Crude Oil

How Falling Oil Prices Are Upending Russian Politics

Nikolai Petrov | Posted 01.25.2016 | World
Nikolai Petrov

MOSCOW -- The Russian political system is archaic. It was created during a historical period when rulers were awash in petrodollars and there was simply no apparent need for democratic institutions, checks and balances, independent judiciary, strong parliament, federalism, local government and so forth. Without easy money, the ruling regime will not survive without modernization.

Stock Prices Sink As 'Oil Glut' Rattles Global Markets

The New York Times | Annum Masroor | Posted 01.15.2016 | Business

HOUSTON — The world is awash in crude oil, with enough extra produced last year to fuel all of Britain or Thailand. And the price of oil won&rsq...

Is the Oil Business Becoming the Natural Resource Equivalent of a Failed State?

Tom Engelhardt | Posted 01.12.2016 | Politics
Tom Engelhardt

Sitting atop some of the planet's great oil reserves and getting 73% of their revenues from oil sales (income that dropped by 23% last year), the Saudi royals just hiked the domestic price of gas at the pump by 40%.

The Oil Pricequake

Michael T. Klare | Posted 01.12.2016 | Politics
Michael T. Klare

As 2015 drew to a close, many in the global energy industry were praying that the price of oil would bounce back from the abyss, restoring the petroleum-centric world of the past half-century. All evidence, however, points to a continuing depression in oil prices in 2016 -- one that may, in fact, stretch into the 2020s and beyond.

'Miracle of American Oil': Continental Resources Courted Corporate Media to Sell Oil Exports

Steve Horn | Posted 12.29.2015 | Green
Steve Horn

A document published by the Public Relations Society of America, discovered by DeSmog, reveals that from the onset of its public relations campaign, the oil industry courted mainstream media reporters to help it sell the idea of lifting the ban on crude oil exports to the American public and policymakers.

President Obama's Crude Oil Exports Decision Is True Climate Test

Kassie Siegel | Posted 12.18.2015 | Green
Kassie Siegel

The president must understand a simple fact: Fossil fuels have to stay in the ground.

Exporting America's Oil No Longer a Slick Idea

D.A. Barber | Posted 12.08.2015 | Green
D.A. Barber

It's time to throw out those "American Energy Independence" bumper stickers from the 2012 election and forget about US energy self-sufficiency because now the oil industry's top priority is to repeal the 40-year-old ban on exporting America's oil.

Congress' Next Polluter Giveaway: Lifting the Crude Oil Export Ban

Gene Karpinski | Posted 11.30.2015 | Green
Gene Karpinski

Instead of promoting dirty energy that degrades our lands and harms our climate, America's energy and environmental policy should be focused on promoting clean energy, energy efficiency, and other solutions to climate change while investing in America's natural heritage.

Oil Tankers Are Filling Up as Global Storage Space Runs Low

James Stafford | Posted 11.13.2015 | Business
James Stafford

The rebound in oil prices is still not here, and new data suggests that it will take some more time before the markets start to balance out. Global ...

XL: Obama Takes the Fall for Hillary

Robert L. Cavnar | Posted 11.07.2015 | Politics
Robert L. Cavnar

The rejection of the Keyston XL Pipeline revealed not only the gigantic chasm between environmentalists and industry, it also laid bare the ugly side of American politics where common sense often dies a slow, painful death.

"Bribery, Back Room Dealing, And Bullying" in Ukraine: The Origins of Burisma

James Stafford | Posted 10.16.2015 | Business
James Stafford

Zlochevsky's UK assets may have been unfrozen and whisked off to safety in Cyprus, but anyone considering investing in Ukrainian gas or this influential player should understand that the next stop will be Switzerland.

Keep the Crude Oil Export Ban to Protect Jobs, Environment

Kim Glas | Posted 09.16.2015 | Green
Kim Glas

It's expected that the House will soon vote on a bill to lift the long-standing ban on crude oil exports. We should take a step back and see how this 180-degree shift in policy will impact us all.

The World's First Clean Oil Sands Project: An Interview With Dr. Gerald Bailey

James Stafford | Posted 09.01.2015 | Business
James Stafford

After decades of exhaustive attempts to overcome the dirty reputation of oil sands, we finally have an environmentally-friendly and low cost method to tap into these vast resources in the state of Utah -- good news both for Mother Nature and all oil and gas investors.

A Republican President and the Next War

Daniel Wagner | Posted 08.04.2015 | Politics
Daniel Wagner

Nearly all of the Republican presidential candidates have been vociferous in their hatred of the Iran deal, and if a majority Republican Congress is elected in 2016, the Iran deal will probably have a short life -- if it has one at all.

Oil Corporations Scheme to Export America's Security

Leo W. Gerard | Posted 08.03.2015 | Business
Leo W. Gerard

Oil honchos and their legion of lobbyists petitioned Congress last week to pad corporate profits at the expense of American energy independence and national security. And Republicans on a Senate committee voted to comply.

Former Exxon President On Mission to Clean Up Oil Sands

James Stafford | Posted 07.31.2015 | Business
James Stafford

Canada has given oil sands a dirty reputation, but a breakthrough, commercially viable technology has caught the eye of a former Exxon Mobil president who is putting it to use to clean up Utah's billions of barrels of oil sands.

OPEC, Get Ready for the Second U.S. Oil Boom

James Stafford | Posted 07.14.2015 | Business
James Stafford

When low oil prices close doors, technology steps in to reopen them, and certainly innovation will drive the next U.S. oil boom -- and the latest advancements are already commercially viable. The door has been re-opened.

Pipeline That Leaked Oil Onto California Coast Didn't Have Auto Shut-Off Valve

AP | Posted 05.23.2015 | Green

LOS ANGELES (AP) — The pipeline that leaked thousands of gallons of oil on the California coast was the only pipe of its kind in the county not requ...

Goldman Sachs Predicting $45 Oil By October

James Stafford | Posted 05.21.2015 | Business
James Stafford

Could oil prices be in for yet another decline? Oil prices have rebounded with surprising speed in recent weeks, with WTI prices bouncing by more than a third from March lows. There are good reasons for this.

Saudi Arabia Continues to Turn Screws on U.S. Shale

James Stafford | Posted 05.13.2015 | Business
James Stafford

As Saudi Arabia continues to ramp up production, taking market share away from U.S. shale producers, U.S. shale is being forced to cut back. This story has been told many times over the past few months, but the data is finally confirming the success of Saudi Arabia's strategy, albeit a minor one thus far.

Is This Where Investors Should Be Looking When Oil Recovers

James Stafford | Posted 06.21.2015 | Business
James Stafford

When oil prices recover--and plenty of analysts think the climb back up will start soon--Canada's western frontier of Saskatchewan and neighboring Alberta will "still have the edge", according to a report from TD Economics.

Latest EIA Predictions Should Be Taken With More Than a Pinch of Salt

James Stafford | Posted 06.16.2015 | Business
James Stafford

The EIA does offer a vital benchmark from which assumptions can be gleaned and estimates can be made, offering insight into the very opaque world of energy. But take predictions about the future with a huge grain of salt.

U.S. Seizes On Venezuelan Weakness to Regain Caribbean Energy Foothold

James Stafford | Posted 06.10.2015 | Business
James Stafford

The U.S. has a spotty and turbulent history intervening in Latin America and the Caribbean, but outside of drug interdiction, the western hemisphere has largely taken a backseat when it comes to foreign policy during the Obama administration.

Bad Jobs Report Could Be Good For Oil Industry

James Stafford | Posted 06.06.2015 | Business
James Stafford

The Fed has intimated that it will raise interest rates at some point later this year after more than a half-decade of easy money. But the March jobs report suggests that the swift appreciation of the U.S. dollar is starting to cut into job growth.

Can Big Oil Keep Paying High Dividends?

James Stafford | Posted 05.20.2015 | Business
James Stafford

The utter collapse in oil prices has compelled the Italian oil company Eni to slash its dividend, becoming the first major oil company to do so. With the biggest oil companies facing giant holes in their balance sheets, could Eni merely be the first among many to make such a move?