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The possibility of more supply entering the market has analysts already lowering their forecast price for oil into the next year.
The late Daniel Patrick Moynihan once observed that we are all entitled to our own opinions, not just our own facts. Proponents of solar energy are long on opinions and pseudo-facts, just not real ones. What are some of those? It is claimed that 2015 is “on a pace to be the hottest year the […]
U.S. crude oil for October delivery lost about $1.72 per barrel or 3.7 percent to $45.18 per barrel in early trading Friday. The October contract expires Tuesday.
Democratic California congressional members Ted Lieu and Maxine Waters wrote to the U.S. Chemical Safety Board on Wednesday asking for the Sept. 6 acid leak to be included into the broader investigation of Exxon Mobil’s operations as the refinery.
As the hedges roll off, credit tightens and the realization that high prices are far off settles in, many companies will need to offer assets for sale and stronger ones will find good deals.
Health care, construction and manufacturing have helped Houston avoid a recession as oil prices drop, according to a report from the Federal Reserve Bank of Dallas.
The wildfire has taken out several of the 14 geothermal power plants in The Geysers, said Calpine spokesman Brett Kerr, but some of the remaining plants are still contributing electricity to the northern California region.
Ending the oil export ban makes good economic sense, BHP Billiton CEO Andrew Mackenzie told business leaders in Washington. But it also would “show the world that the U.S. remains committed to economic freedom and the promotion of global growth.”
The Interior Department is poised to issue standards to close what it says are gaps in blowout preventer rules. Such a device failed catastrophically when a BP well blew out in 2010, causing a massive oil spill.
House Majority Leader Kevin McCarthy, R-California, is set to tell a Houston audience that the chamber will vote this month on a measure lifting the oil export ban, but the White House doesn’t back the bill.