Iran says needs to spend $50 billion a year to keep oil output
Iran needs to invest as much as $50 billion a year in its oil industry to maintain its position as OPEC’s second-largest crude exporter and boost natural gas production, Oil Minister Rostam Qasemi said. More »
Livestock farmers say ethanol eats too much corn
Livestock farmers are demanding a change in the nation’s ethanol policy, claiming current rules could lead to spikes in meat prices and even shortages at supermarkets if corn growers have a bad year. More »
Newt Gingrich says cutting off gasoline would contain Iran
Republican presidential hopeful Newt Gingrich says the United States could “break Iran within a year” if allies worked together on a strategy instead of focusing on specific tactics. More »
Brazil says oil slick has shrunk
Brazil says the size of an oil slick at a well operated by Chevron Corp. off the coast of Rio de Janeiro state is more than 80 percent smaller than it was four days ago. More »
Video: Administrator Lisa Jackson talks about the EPA
Recently, Jackson spoke with energyNOW! about new regulations that Republicans have dubbed “job killing” and why she didn’t resign after President Barack Obama delayed new ozone standards. More »
Chevron hasn’t been notified of fines by Brazil
Chevron Corp. (CVX), operator of the $3.6 billion Frade oilfield off the Brazilian coast, said it hasn’t received any notices of fines or other penalties from Brazil’s government stemming from a subsea crude leak. More »
El Paso says Tennessee gas pipeline had explosion
El Paso Corp. “isolated” part of the Tennessee Gas Pipeline in Panola County, Mississippi, after a release of fuel and fire yesterday. More »
Oil pipeline bills in Nebraska headed for approval
A compromise that would let Nebraska influence the route of the Keystone XL and other major oil pipelines is slated for final approval. More »
Crude oil rises on U.S. supply report
Oil prices rose to near $98 a barrel today in Asia as traders looked to the latest U.S. crude supply reports for signs demand may be improving. More »
Rice professor to politician: “You don’t own me”
During a hearing on drilling in the Arctic National Wildlife Refuge, Rep. Don Young called Rice University professor Douglas Brinkley’s testimony “garbage,” but Young mistakenly called the professor “Dr. Rice.” More »
Medical crews overwhelmed by North Dakota oil boom
Emergency medical crews in North Dakota’s Oil Patch describe the challenges they face as “crazy” or “overwhelming” and “like a war zone.” More »
Chevron takes blame for Brazil oil spill
An ongoing oil spill off the Brazilian coast occurred because Chevron underestimated the pressure in an underwater reservoir, the head of the company’s Brazil operations said. More »
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