Fuel Fix

Motorists refuel at a Mobil gas station in Pittsfield, Mass., where regular gasoline is for sale at $1.99 per gallon, Tuesday Sept. 29, 2015. (Ben Garver/The Berkshire Eagle via AP) BERKSHIRE COURIER OUT, GREAT BARRINGTON RECORD OUT, RURAL INTELLIGENCER OUT, BERKSHIRES OUT; MANDATORY CREDIT

Obama: Cheap gasoline prices drove oil tax decision

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Categories: Crude oil, featured, Gasoline
The proposal faces an uphill battle in the Republican-led Congress, which has repeatedly pushed back against the president’s climate change initiatives.

Obama: Cheap gasoline prices drove oil tax decision

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Categories: Crude oil, featured, Gasoline
Motorists refuel at a Mobil gas station in Pittsfield, Mass., where regular gasoline is for sale at $1.99 per gallon, Tuesday Sept. 29, 2015. (Ben Garver/The Berkshire Eagle via AP) BERKSHIRE COURIER OUT, GREAT BARRINGTON RECORD OUT, RURAL INTELLIGENCER OUT, BERKSHIRES OUT; MANDATORY CREDIT
The proposal faces an uphill battle in the Republican-led Congress, which has repeatedly pushed back against the president’s climate change initiatives.
(Photographer: Eddie Seal, Bloomberg)

Drillers shut down dozens of rigs last week, biggest pull-back since April 2015

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Losses in the oil patch deepened in the second half of 2015 and into 2016 along with plummeting prices of crude.
Categories: Crude oil, featured, Texas
(AP Photo/Stephan Savoia)

February starts with the national gasoline average below $1.80

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The Houston region and Texas overall averaged $1.58 a gallon on Monday — it’s lowest point since January 2009 — and $1.79 a gallon nationally, according to GasBuddy’s daily survey data. The price fell by 2.4 cents in the last week in Houston and by about 2.6 cents in the U.S. overall. The national average is down 20 cents just in the last month.
Over thirty oil drilling rigs idling in a Helmerich & Payne, Inc. yard along Groening Street in Odessa, Texas, in the Permian Basin on  May 18, 2015. (Courtney Sacco/Odessa American via AP)

Banks “finally found religion” at $30 oil, lawyers see wave of bankruptcies

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More than two dozen Texas bankruptcy attorneys expect a 30 percent increase in corporate restructurings and bankruptcy filings in the state this year, according to a sampling of bankruptcy attorneys by Houston consultancy HSSK.
Pam Sharp, left, director of the Ofiice of Management and Budget, and Gov. Jack Dalrymple talk Monday at the state capitol in Bismarck, N.D.  Dalrymple on Monday ordered deep cuts to government agencies and a massive raid on state savings to make up for a more than $1 billion budget shortfall due to depressed crude prices and a drop in oil drilling. (Tom Stromme/The Bismarck Tribune via AP)

North Dakota governor orders cuts due to low oil prices

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The Legislature’s record-high $14.4 billion budget for the two years that began July 1 was built on oil prices and economic assumptions that have fallen “much greater than anyone would have predicted,” the governor said.
Categories: Crude oil
frame full of pink slips, layoff notices, etc.

Energy companies detail hundreds more layoffs

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Texas oil and gas companies told state regulators they’d cut 915 jobs last week, as the industry continues to struggle amid low prices.
Categories: General
A group of idle rigs is seen behind James Noe, Senior Vice President, General Counsel and Chief Compliance Officer for Hercules Offshore while aboard the Hercules 251 a shallow water drilling rig owned by on Wednesday, Aug. 11, 2010, near Port Fourchon, La. (Smiley N. Pool /Chronicle)

Industry study predicts Gulf drilling plummet from safety rule

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Announced last April by Secretary of the Interior Sally Jewel, the rule would tighten standards on blowout preventers – the device that failed in the case of Deepwater – as well as put more controls on how companies drill and monitor wells deep under the surface of the ocean.
A  2010 file photo shows a sign at a BP  station in London. (AP Photo/Alastair Grant, File)

BP upstream chief to become deputy CEO amid reorganization

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BP announced a reorganization of its top managers Monday and said its upstream chief will become deputy CEO and share duties with CEO Bob Dudley as the British oil major navigates one of the worst oil downturns in decades.
CenterPoint Chief Operating Officer Scott Prochazka has been named CEO, effective Jan. 1, 2014. (photo: CenterPoint Energy)

CenterPoint considers selling its pipeline business

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The Houston-based power line and electric distribution company also said it is considering converting all or part of its utility businesses into a real estate investment trust, or REIT, business model that’s rare for the energy sector.
Categories: General

US oil & gas sector: things to get worse before they get better

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Today is Harry Styles’ 22nd birthday, and accordingly the crude complex is heading in one direction. (Down). We burst into February today, and get hit by a wave of global manufacturing numbers, as well as the ongoing debate re ‘will-they-won’t-they’ cut production. (they won’t). China kicked things off overnight, setting a cautious tone with its […]
Categories: Crude oil
(AP Photo/Casper Star-Tribune, Robert Hendricks)

Wyoming sees oil and gas jobs drop by 5,400 in 2015

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The current downturn in Wyoming’s energy industry so far has not reached the severity of the bust that hit the state in the mid-1980s.
Categories: General
Caption


Democratic U.S. Sen. Bob Menendez stands behind a Protect Our Coast sign, as he addresses a large rally opposing federal plans that would allow oil and gas drilling in the Atlantic Ocean, Sunday, Jan. 31, 2016, in Asbury Park, N.J. U.S. Sens. Menendez and Cory Booker and Rep. Frank Pallone, Jr., were among those who cited the potential for "catastrophic" oil spills that could cause economic and environmental harm at the Jersey shore. (AP Photo/Mel Evans)

Lawmakers, officials voice opposition to Atlantic drilling

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Officials from several New Jersey shore towns joined with some members of the state’s congressional delegation Sunday to oppose federal plans that would allow oil and gas drilling in the Atlantic Ocean.
U.S. Department of the Interior  logo

U.S. to halt approvals of hydraulic fracturing off California coast

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The government will study whether the practice is safe for the environment.
Oil pumps at the Enbridge and Enterprise Products Partners LP Jones Creek Facility. ( J. Patric Schneider / For the Chronicle )

With ban lifted, U.S. oil exports off to slow start

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Enterprise Products Partners CEO Jim Teague opined in a conference call with analysts Thursday that with historic lows in oil prices the incentive to export simply was not there – at least not for now.
Categories: Crude oil, General, Markets