Fuel Fix

Chevron's massive deep water offshore platform is headed to the Gulf of Mexico where it is expected to begin production this year. (Chevron)

Exxon, Chevron clear to bid on Mexican shallow-water blocks

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Mexico forecasts that the opening of the energy industry will bring in $62.5 billion in private investment by 2018 and increase its annual oil output by 500,000 barrels a day in that time.

Exxon, Chevron clear to bid on Mexican shallow-water blocks

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Chevron's massive deep water offshore platform is headed to the Gulf of Mexico where it is expected to begin production this year. (Chevron)
Mexico forecasts that the opening of the energy industry will bring in $62.5 billion in private investment by 2018 and increase its annual oil output by 500,000 barrels a day in that time.
FILE - This Oct. 11, 2013 file photo shows cleanup at the site of an oil pipeline leak and spill near Tioga, N.D. (AP Photo/Kevin Cederstrom, File)

Cleanup of oil spill at ND farm to take 2 more years

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“It’s now just become part of our lives,” Patty Jensen said of the massive spill from a Tesoro Corp. pipeline that was discovered in September 2013 by her husband.

Turbines at Pattern Energy's Gulf Wind project in Kenedy County, Texas are silhouetted by a sunset. (Pattern Energy)

Wind tax credit expires at midnight

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The stroke of midnight will mark not just the end of 2013, but also the death of a popular tax credit that has helped finance wind farms and other renewable energy projects across the U.S.
Categories: Politics/Policy, Wind
(AP Photo/Skagit Valley Herald, Scott Terrell)

Mayor: Town dodged a bullet in crude train explosion

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A southeastern North Dakota town narrowly escaped tragedy when a train carrying crude oil derailed and exploded nearby, the mayor said Tuesday, calling for changes in how the fuel is transported across the U.S.
Categories: Accidents, Crude oil

(Image: Fotolia)

Oil forecasters see second year of price declines

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Brent crude prices, the benchmark for half the world’s oil, will weaken for a second year in 2014 as U.S. output expands and threats to Middle East and North African supply ease, the most-accurate forecasters said.
Categories: Crude oil, Markets
A fireball goes up at the site of an oil train derailment Monday, Dec 30, 2013, in Casselton, N.D. The train carrying crude oil derailed near Casselton Monday afternoon. Several explosions were reported as some cars on the mile-long train caught fire. (AP Photo/Bruce Crummy)

Air quality improving after oil train fire in North Dakota (photos)

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Many residents evacuated a southeastern North Dakota town overnight after a train carrying crude oil derailed and exploded, and officials warned that acrid smoke could blow into the area.
(Fotolia)

Home electricity use in US falling to 2001 levels

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The average amount of electricity consumed in U.S. homes has fallen to levels last seen more than a decade ago, back when the smartest device in people’s pockets was a Palm pilot and anyone talking about a tablet was probably an archaeologist or a preacher.
Categories: Electricity
(StockMonkeys.com/Flickr)

Gasoline prices to rise for New Year’s holiday travelers

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But looking ahead to 2014 expect lower average gas prices, with the average price in the U.S. next year fall by about 10 cents a gallon from 2013’s average, analysts project.
Categories: Gasoline, Transportation
Warren Buffett, chairman and CEO of Berkshire Hathaway Inc. (Photo: Andrew Harrer/Bloomberg)

Buffett strikes deal to buy $1.4B Phillips 66 unit

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Berkshire Hathaway made a deal on Monday for Phillips 66’s flow improver business, which manufactures a chemical agent that breaks up debris and moves oil and gas through pipelines.
Categories: Deals, Pipelines, Refining