Category: Crude oil

IEA: Fossil fuels got six times more aid than clean energy

Fossil-fuel consumers worldwide received about six times more state subsidies last year than were given to the renewable-energy industry, according to the chief adviser to oil-importing nations.  More »

Stephen King offers heating oil assistance

Horror author Stephen King is stepping up to help struggling Maine residents facing deep cuts to a federal heating oil assistance program.  More »

Oil storage companies expand Houston Ship Channel facilities

Oiltanking and Battleground Oil Specialty Terminal Company announced today that they will funnel nearly $500 million into pipelines and storage tanks on the ship channel to handle growing supplies of North American oil products.  More »

Feds roll out five-year plan for offshore drilling

The Obama administration today unveiled a plan for selling offshore drilling leases over the next five years that focuses on exploration in the Gulf of Mexico, proposes three auctions in the Arctic and rules out development in unexplored areas along the Atlantic coast.  More »

Drilling boom brings surge in crime to small towns

In a modern-day echo of the raucous Old West, small towns enjoying a boom in oil and gas drilling are seeing a sharp increase in drunken driving, bar fights and other hell-raising, blamed largely on an influx of young men who find themselves with lots of money in their pockets and nothing to do after they get off work.  More »

BP wants US probes barred from oil spill suits

The companies involved in the worst offshore oil spill in U.S. history are trying to prevent government investigations blaming them for the disaster from being used against them by the people and businesses who are suing them.  More »

State Dept. said to be weighing altering Keystone XL route

The U.S. State Department is weighing whether to seek a rerouting of TransCanada Corp.’s planned $7 billion Keystone XL pipeline away from the Sandhills region of Nebraska, a department official said.  More »

Perry’s plan to end energy breaks favors oil, gas producers

Texas Governor Rick Perry is calling on the U.S. government to stop “picking winners and losers” among energy companies and has pledged to end federal subsidies to the industry. Under his plan, alternative energy businesses would likely lose a lot more than would fossil-fuel producers.  More »

Oil-spill workers sought for study

Federal researchers will be in Terrebonne Parish on Wednesday, looking for cleanup workers willing to participate in a $17.8 million study of long-term health effects from last year’s Gulf of Mexico oil spill.  More »

Oil near $96, extending month-long 27 pct rally

Oil prices rose to near $96 a barrel Tuesday in Asia, extending a 27 percent rally during the last month amid signs the U.S. economy isn’t slipping back into recession.  More »

Pipeline critic says state shielded from lawsuits

An attorney for opponents of the Keystone XL says Nebraska’s sovereign immunity would protect the state from lawsuits if officials diverted the proposed oil pipeline.  More »

BP’s $7.1 billion Argentine oil sale scrapped

Cnooc Ltd.’s deal to buy BP Plc’s $7.1 billion stake in Argentine crude producer Pan American Energy LLC collapsed, 10 days after Argentina’s president ordered oil companies to repatriate export revenue.  More »