Alaska is poised to alter its social contract with people like Paul Alexie for the first time in its 56-year statehood. Oil riches have ensured that the 23-year-old Yupik Eskimo from Bethel doesn’t pay state sales or income taxes. Instead, Alaska pays him. He’ll use $2,072 that lands in his bank account today to defray […]
Shell is far from alone in making a big bet on an offshore play only to end up with disappointing results. From the Gulf of Mexico to the shores of Angola, offshore exploration has yielded plenty of dry holes.
The measures, laid out by the French energy company on Wednesday before an investor day in London, signal that the belt-tightening among global oil producers to protect dividends will extend into 2017 and hurt future growth.
U.S. benchmark crude settled up $3.96 at $42.56 a barrel on the New York Mercantile Exchange. The 10.3 percent gain was the largest for U.S. oil since prices were rebounding from financial crisis of 2009.
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