Fuel Fix

(Photo by Eddie Seal for Bloomberg News)

U.S. oil rig count jumps up by a dozen, the first increase in 2015

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The amount of U.S. rigs drilling for oil increased for the first time this year after 29 consecutive weeks of declines.

U.S. oil rig count jumps up by a dozen, the first increase in 2015

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(Photo by Eddie Seal for Bloomberg News)
The amount of U.S. rigs drilling for oil increased for the first time this year after 29 consecutive weeks of declines.
(AP Photo/Gerald Herbert, File)

BP to settle Deepwater Horizon claims for $18.7 billion

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BP has agreed to pay a record $18.7 billion to settle the federal and state claims against it for its role in the Deepwater Horizon oil spill, sidestepping years of litigation with a promise to pour funds for nearly two decades into efforts to repair vast environmental damage in the Gulf region.
Categories: featured, Gulf oil spill

    Jeff Allyn, a derrick hand with Raven Drilling, pauses with a cup of coffee while drilling for oil in the Bakken shale formation on July 23, 2013 outside Watford City, North Dakota. (Andrew Burton/Getty Images)

    Shale drillers’ safety net is vanishing

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    SandRidge, the Oklahoma City-based producer, had about 90 percent of its oil and natural gas liquids output hedged in early 2015, according to a regulatory filing. Next year, the hedges cover less than a third.
    Categories: featured, Shale
(AP Photo/Matthew Brown, File)

U.S. railroads slumping on Wall Street amid coal, crude oil cargo squeeze

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The dwindling volumes for coal, oil and grain are magnified in contrast with last year’s surges. Petroleum carloads, chiefly crude, are down 0.6 after 2014’s 13 percent increase.
Great Britain Prime Minister David Cameron visits the Total Oil Depot shale drilling site in Gainsborough, Lincolnshire in England on January 13, 2014.  French company Total confirmed it will invest about £30 million in the shale drilling project in Gainsborough, and it is believed to be the first major energy firm to invest in U.K. fracking. Prime Minister David Cameron indicated councils would receive a significant financial boost from the business rates collected from controversial shale gas schemes, with local authorities receiving 100 percent of the business rates, double the usual 50 percent. (WPA Pool/Getty Images)

U.K. shale well rejected in blow to David Cameron’s fracking ambitions

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Opposition to hydraulic fracturing has stymied development of the U.K.’s shale industry since a drilling moratorium was lifted in 2012. The U.K. government has promoted fracking by cutting taxes and relaxing planning rules to try to lower reliance on imported gas.

(Paul White/(AP photo)

Repsol’s CEO courts skeptical investors after $13 billion deal

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Based on analysts’ target prices, Repsol is expected to underperform the 18-member Bloomberg Intelligence Global Integrated Oil Index. That’s despite it being only one of five companies where profits are predicted to rise next year.
FILE - In this April 11, 2015, file photo, U.S. President Barack Obama, right, and Brazilian President Dilma Vana Rousseff shake hands during their bilateral meeting at the Summit of the Americas in Panama City, Panama. Rousseff visits Washington and will meet with Obama on June 29 and 30. (AP Photo/Pablo Martinez Monsivais, File)

Climate top item for Obama sit-down with Brazil leader

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The meeting comes six months before world leaders gather at a United Nations-sponsored conference in Paris in December to finalize a climate treaty. Obama has argued that a gradually warming planet could worsen social tensions and political instability worldwide, in addition to harming the U.S.

Making it Work

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The Pew Research Center has conducted polls over the past several years on the public’s confidence in government. The results are not encouraging nor surprising. In 2010, 74% rated the federal bureaucracy as only fair or poor. Last year, 75% said they trust the federal government to do what is right only some of the […]
Categories: featured, General, p2
Tar is removed from the coastline that remained closed on Thursday, June 4, 2015, in Long Beach, Calif., after tar balls washed ashore. (Allen J. Schaben/Los Angeles Times/TNS)

Plains All American lab tests show oil from pipeline spill spread along hundreds of miles of California coastline

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Houston-based Plains All American Pipeline released a summary of the lab tests on Friday, as state and federal lawmakers intensified their scrutiny of the company’s ruptured Line 901 and the oil spill near Santa Barbara last month.
Supporters of a successful effort in 2012 to renationalize Argentina's largest oil company, YPF, wave flags. (AP Photo/Natacha Pisarenko)

Argentina, China ripe for more shale development, EIA says

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Outside of North America, Argentina and China are the only two nations that are producing commercial quantities of natural gas trapped in deep-seated shale formations, and they both have the capacity to grow their output substantially, the U.S. Energy Information Administration said in a report Friday.