OPEC sharply revised down its forecast today for world oil demand for this year and expected consumption would remain weak in 2012, citing waning economic growth in key industrialized nations and a weak U.S. driving season. More »
The Obama administration has less than 10 months to finish assembling its plan for selling offshore drilling leases over the next five years, and some oil industry leaders are worried the government is barely on track to meet a July 1 deadline for issuing the document.
This is a tale of two oils. Houston-based Swift Energy pumps crude from its oil fields in Louisana and gets a price that’s within a few dollars of what producers receive in most of the world. As of Thursday, that was about $114 a barrel.
President Barack Obama unveiled his $447 billion package aimed at jump starting jobs in the U.S., energize his political base and bringing renewed hope to the American people. But what was missing from his speech last night? Hint: it starts with an ‘E.’ More »
The Interior Department will propose a rule setting guidelines for issuing environmental-review waivers for applications to drill for oil and gas on public lands, after a judge tossed out previous Obama administration rules for procedural reasons. More »
Libya may export a crude-oil cargo this month for the first time since March from the country’s west as the holder of Africa’s biggest oil reserves rebuilds production after deposing ruler Muammar Qaddafi. More »
The University of Mississippi and the University of Southern Mississippi will lead one of eight large research teams participating in a $112.5 million project to learn how the Gulf of Mexico has fared since the 2010 BP oil spill. More »
The federal agency that oversees offshore drilling is about to get its final shake-up – with the last stages of a broad, 17-month-long reorganization concluding when the Bureau of Ocean Energy, Management, Regulation and Enforcement is divided into two separate entities on Oct. 1. More »
Eight Republicans presidential candidates squared off on each other in the POLITICO/NBC debate in California on Wednesday. They spoke about jobs, the death penalty and – of course – energy issues. More »
Families who lost loved ones in the nation’s deadliest pipeline accident in a decade are forming a new nonprofit group, harnessing their grief to press for strict controls over the high-pressure gas lines coursing below homes across the country. More »
A majority of self-identified Tea Partiers reject global warming and members are far more likely than the rest of Americans to oppose energy policies to address climate change, a new Yale University survey found. More »
Two years after the economic stimulus law, about one-third of the money authorized for an energy efficiency program has not been spent, a government audit found. More »
When Mitt Romney and Rick Perry thumped their chests over their job-creation records as governor during the Republican presidential debate Wednesday night, they left the bad parts out. More »
The congressional super committee searching for ways to pare at least $1.2 trillion from the federal deficit should open up the Arctic National Wildlife Refuge for oil and gas drilling instead of increasing taxes, a top House Republican said Wednesday. More »
An unprecedented deal that gives Russia’s state-controlled oil company part-ownership of U.S. oil fields is unlikely to be scuttled by political or national security concerns for a simple reason: Russia doesn’t need the oil. More »