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FILE - In this Oct. 24, 2014 file photo, then Alaksa gubernatorial candidate Bill Walker answers a question during a debate in Anchorage, Alaska. Walker, now Governor, has said Alaska this year stands to pay out about $100 million more in oil and gas credits than the production tax brings in. (AP Photo/Mark Thiessen, File)

Alaska faces lean budget times as oil prices plunge

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Alaska heavily relies on oil revenue to fund the cost of state government, but the fall in prices has contributed to an estimated 80 percent decline in the state’s share of production taxes from last year.
(Alexander Klein/AFP via Getty Images)

Meeting between Iran and Saudi Arabia foreign ministers delayed

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A meeting between the foreign ministers of OPEC’s Iran and Saudi Arabia was delayed in part due to discord over falling crude prices, said Hossein Amir-Abdollahian, Iran’s deputy foreign minister for Arab and African affairs
Photo:  www.cnbc.com

Oil price slump hurts last remaining “Middle Class”, and exposes market irrationality

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While American society continues to enjoy the energy that the oil and gas business produces, for lower prices than they have in years, the last few weeks for those actually producing that energy have been brutal.
Categories: General
(AP file photo/Grand Forks Herald, Eric Hylden)

State Dept. gives agencies 2 weeks to comment on Keystone

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Federal agencies have been given a Feb. 2 to provide advice on whether to move forward with the hotly debated Keystone XL pipeline.
U.S. Senator John Cornyn speaks to the audience at the GOP election night party in Austin on Tuesday, Nov. 4, 2014. (Kin Man Hui/San Antonio Express-News)

Beaumont event touts benefits of Keystone XL

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Crude has long coursed from Canada to Oklahoma through the existing Keystone pipeline. Southeast Texas connected to that line in January last year when the Keystone XL southern leg ending in Nederland was complete, and Gulf Coast plants are already refining crude from Canadian fields.
A Marathon Oil drilling rig works in the Bakken Shale of North Dakota. (Houston Chronicle)

Diamondback Energy to delay drilling, push for cuts to service costs in 2015

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Diamondback said that it expects the cost of a horizontal well with a 7,500-foot lateral segment to fall to between $6.2 million and $6.7 million.
Port Corpus Christi 3 BRO

Stocks of crude oil rise across U.S. to new high

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Crude inventories expanded by 5.4 million barrels to 387.8 million barrels, more than expected and the highest level recorded in January.
(Eddie Seal/Bloomberg)

EIA: Brent will average $58 in 2015, $75 in 2016

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The EIA also forecast low gasoline prices for the next few years..
(Photographer: Daniel Acker/Bloomberg)

Enbridge to build Gulf of Mexico pipeline

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Enbridge Inc. has announced it will build an offshore crude oil pipeline extending to Hess Corporation’s Stampede Gulf of Mexico project.
FRACKING SAND

Sand boom headed for uncertainty, Moody’s says

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With crude prices down more than 55 percent since the summer of 2014, sand producers are facing uncertainty about how much of the material will be needed in the next few years.