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Crude Oil

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?

Want Improved Crude Oil Safety? Build Better Tank Cars

Edward R. Hamberger | Posted 05.19.2015 | Business
Edward R. Hamberger

Railroads have gone to great lengths to prevent crude oil accidents. But if crude oil from American oil fields is to be transported with even greater levels of safety, it's time for a major upgrade to the crude tank car fleet.

Top 10 Questions About Oil Trains: Industry Lobbies for Weak Rules While Derailment Fire Rages

Todd Paglia | Posted 05.19.2015 | Green
Todd Paglia

On Friday, March 6, while an oil train explosion in Illinois was still sending flames and black smoke into the air, railroad agents were in Washington, DC lobbying to weaken new train safety standards.

Texas: From Shale Boom to Water Revolution

James Stafford | Posted 05.16.2015 | Business
James Stafford

Next-generation water-processing technology coming from within the oil industry promises not only to help solve Texas' drought problem by accessing and desalinating brackish and slightly salty water sources deep under the dry Texan surface but to go one step further by desalinating ocean water and turning dirty water into potable water.

Workers at Louisiana Refineries Assess Tentative USW-Shell Deal

Susan Buchanan | Posted 05.15.2015 | Business
Susan Buchanan

The United Steelworkers Thursday reached a possible four-year pact with Shell Oil in a seven-state strike that spread to 12 refineries and three other plants. Three weeks ago, most of the USW's more than 700 combined members joined the walkout.

Updating Our Merchants of Doubt

Tom Engelhardt | Posted 05.12.2015 | Politics
Tom Engelhardt

Welcome to the asylum! I'm talking, of course, about the world Big Oil spent big bucks creating. You know, the one in which the obvious -- climate change -- is doubted and denied, and in which the new Republican Congress is actively opposed to doing anything about it.

Big Oil's Broken Business Model

Michael T. Klare | Posted 05.12.2015 | Politics
Michael T. Klare

How things have changed in a matter of mere months. With demand stagnant and excess production the story of the moment, the very strategy that had generated record-breaking profits has suddenly become hopelessly dysfunctional.

Another Train Carrying Crude Oil Derails, This Time In Illinois

AP | Posted 05.05.2015 | Green

GALENA, Ill. (AP) — A freight train loaded with crude oil derailed in northern Illinois on Thursday, bursting into flames and prompting officials to...

Oil's Survival of the Fittest

James Stafford | Posted 04.11.2015 | Business
James Stafford

With crude oil prices collapsing and small American oil producers faced with grim choices for survival, the Darwinian nature of commodity market cycle...

Tuscaloosa Marine Shale Fracking Slows as Operators Watch Oil Prices

Susan Buchanan | Posted 04.10.2015 | Business
Susan Buchanan

When crude oil prices sank this winter, companies scaled back their fracking plans in the Tuscaloosa Marine Shale deposit, running from central and southeast Louisiana into Mississippi. Exploration and drilling is mostly on hiatus there until crude rebounds, industry members said last week.

BP's Clean Water Act Fines Will Be Smaller Than Gulf States Thought

Susan Buchanan | Posted 03.27.2015 | Green
Susan Buchanan

BP acted with gross negligence in precipitating the April 20, 2010 spill, Barbier ruled last September. This mid-January, he found that BP wasn't grossly negligent or reckless in its source-control efforts to stop the spill.

Saudi Prince: Oil Will Never Be $100 A Barrel Again

CNBC | Everett Rosenfeld | Posted 01.23.2015 | Business

CNBC The world will never again see the price of oil at $100 per barrel, according to one of Saudi Arabia's biggest investors. Prince Alwaleed B...

Back To Basics: Why Conventional Drilling Makes Sense in 2015

James Stafford | Posted 03.16.2015 | Business
James Stafford

This New Year, an old trend may become a new trend as conventional drilling in North America is once again in the spotlight at a time when oil prices continue their slump and the unconventional becomes increasingly uneconomical.

Bernie Sanders: Passing Keystone XL Means A 'Significantly Less Habitable' Planet

The Huffington Post | Amber Ferguson | Posted 01.14.2015 | Politics

As the Senate prepares to vote on whether climate change is real as part of the proposed Keystone Pipeline bill, Sen. Bernie Sanders (I-Vt.) strongly ...

Kate Sheppard

Senate Expected To Vote On Whether Climate Change Is Real, As Part Of Keystone Bill

HuffingtonPost.com | Kate Sheppard | Posted 01.14.2015 | Politics

WASHINGTON -- The Senate agreed Tuesday to move to debate on amendments to legislation that would force approval of the Keystone XL pipeline, another ...

Oil Prices Actually Aren't That Low, Historically Speaking

The Huffington Post | Mark Gongloff | Posted 01.13.2015 | Business

Oil is cheap, but it could still be cheaper. Everybody's talking about how oil prices have crashed from more than $100 a barrel to less than $50 a ...