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Oil Industry

Oil Reaches Historic Highs While OPEC Holds Us in Contempt

Raymond J. Learsy | Posted 05.25.2011 | Business
Raymond J. Learsy

Neither our citizenry nor those in government has petitioned or acted to seriously cut back this nation's voracious oil consumption, the largest by far on the planet.

Oil Prices Down: Crude Oil Prices Drop More Than $8 In 2 days

AP | ADAM SCHRECK | Posted 05.25.2011 | Green

NEW YORK — Oil tumbled more than $5 a barrel Tuesday in its second big drop this week, hurling crude back to levels not seen since June 26 as tr...

Shell Shuts Down Nigerian Oil Field After Attack

AP | EDWARD HARRIS | Posted 05.25.2011 | Business

LAGOS, Nigeria — Militants in speedboats raided an oil installation off Nigeria's southern coastline on Thursday, forcing Royal Dutch Shell to s...

Oil Industry Not Done Right By Hollywood

Mike LaMonica | Posted 05.25.2011 | Entertainment
Mike LaMonica

As a lifelong oilman, I've been disappointed by the way Hollywood has portrayed my industry. So when I was approached about the development of Black Gold, my initial response was a profound "no."

Oil Prices 101: What Goes Into Today's High Prices?

CNN | Posted 05.25.2011 | Green

Oil, Supply, Demand, Speculation, Failing Dollar, oil prices, crude oil prices, oil, oil companies, big oil, oil industry, peak oil...

Conservatives Addicted to Big Oil

Bill Scher | Posted 05.25.2011 | Green
Bill Scher

Conservatives are protecting oil companies from having to compete with other energy producers on a level playing field, denying consumers a real choice for their energy needs.

Oil's Largest One-Day Gain On Record: Thank You, Mr. Bernanke

Raymond J. Learsy | Posted 05.25.2011 | Business
Raymond J. Learsy

Basically, Bernanke signaled to the markets and the world at large that high prices were not an issue for this government, nor would they be as oil prices moved higher still.

The Coming Oil Boom

Wall Street Journal | HOLMAN W. JENKINS, JR. | Posted 05.25.2011 | Green

With a couple billion Chinese, Indians and others joining the global marketplace, they will need energy, and lots of it. The price mechanism is our on...

Ask The Oil Industry Magic Magic 8 Ball | 23/6: News You Can Misuse | Posted 05.25.2011 | Home

In their latest testimony before Congress, executives from the five largest oil companies were absolutely contrite smug over the rising cost of gas. T...

BP's Problems In Russia Mount

New York Times | ANDREW E. KRAMER | Posted 05.25.2011 | Business

BP's problems in Russia continued Friday. A Russian environmental agency announced that it would inspect a large oil field in Siberia, the Samotlor, ...

Exxon Court Win Freezes $12 Billion In Venezuelan Oil Funds

Reuters | Posted 05.25.2011 | Business

Exxon Mobil Corp won a U.K. court order freezing up to $12 billion of assets belonging to Venezuela's state oil company, according to documents filed ...

Did Oil Canals Worsen Katrina's Effects?

AP | CAIN BURDEAU | Posted 05.25.2011 | Business

IN THE MISSISSIPPI RIVER DELTA — Service canals dug to tap oil and natural gas dart everywhere through the black mangrove shrubs, bird rushes an...

Billionaire Behind Mars Candy Fights Polluting Energy Firms

Associated Press | Matthew Brown | Posted 05.25.2011 | Politics

A reclusive billionaire whose family owns the Mars candy empire is emerging as a formidable opponent to the energy industry's plans to expand developm...