Most Americans blame oil companies for high gas prices, Loren Steffy writes. If history’s any indication, higher prices at the pumps will lead to calls for windfall profit taxes to punish the “greedy” oil companies who are exploiting Americans’ pain.  More »

At a CERAWeek panel discussing the future of drilling in the Gulf of Mexico, James Noe, the senior vice president for Hercules Offshore, decried the politics and rhetoric that has polluted the process for issuing new permits. We need to move beyond tha…  More »

That was the blunt message from John Hess, the chairman and CEO of Hess Corp. Hess told energy industry members gathered at the CERAWeek conference that “the $140 per barrel oil price of three years ago was not an aberration – it was a warning.” Hess …  More »

Loren Steffy weighs the in on the question of which company’s image can be more easily salvaged. Bloomberg BusinessWeek poses the question to two public relations executives: which company’s reputation can be more easily repaired? One PR guy argues that BP…  More »

APGoldman’s Blankfein vs. BP’s Dudley. . . Getty Images. . . whose black eye is bigger? Bloomberg BusinessWeek poses the question to two public relations executives: which company’s reputation can be more easily repaired? One PR guy argues that BP…  More »

After years of seeing commercials about how lonely Maytag repairmen are, we now know why. And no, it’s not because the company’s appliances are that reliable. It’s because a big chunk of the profit for Maytag’s parent, Whirlpool, comes from cashing in …  More »

Outgoing CEO Bruce Williamson, who last week agreed to step down, will receive a total of about $5 million in cash and his outstanding shares of restricted stock and options will fully vest. Severance became a key issue in the Dynegy saga last year, when shareholders voted down a buyout offer from Blackstone in part because Dynegy executives stood to gain about $38 million in golden parachutes, Loren Steffy writes.  More »

The political upheaval among Middle Eastern oil producers poses an interesting test for Saudi Arabia, Loren Steffy writes, as disruptions in production elsewhere may offer better insight into the country’s sustained production capabilities.  More »

WTI’s premium disappeared about a year ago and in recent days it has been trading at more than a $10/bbl discount to Brent mainly due to rising inventory levels at Cushing OK. Some believe WTI may be undervalued by at least $12.  More »

According to CME Group Ethanol Outlook Report dated February 07, 2011, corn prices have rallied by 90% whereas ethanol prices have rallied by only 55% over the past 7 months. That has resulted in a negative ethanol-corn crush margin of -1 cent per gallon from the 20 cent profit last July.  More »

This week (Feb. 12, 2011), the state of South Dakota issued a draft permit for Best Available Control Technology for greenhouse gases under the Clean Air Act (CAA) to the Hyperion Energy Center, a massive new refinery.  As expected, the total technology the state is proposing to reduce greenhouse gases is for high energy efficiency. [...]  More »

The federal offshore energy bureau’s statistics don’t tell the whole story about permitting in the Gulf of Mexico, Loren Steffy writes, but the industry also seems to be overstating the size of the backlog.  More »