Fuel Fix

More oil rigs shut down this week

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Categories: Crude oil, featured, Markets
The number of U.S. rigs chasing oil fell to a total of 646 this week, according to a weekly tally by oil service company Baker Hughes.
Alan Sadler

Feds’ plan to boost biofuel targets draws fire from all sides

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In trying to balance the competing interests of oil companies and biofuel producers, the Environmental Protection Agency’s proposed renewable fuel quotas for 2014, 2015 and 2016 have pleased almost no one.

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
A train carrying crude oil from North Dakota’s oil patch derailed Monday near the small town of Casselton, setting off a series of fiery explosions. (Valley News Live – KVLY/KXJB – Fargo/Grand Forks)

Authorities: Oil train apparently hit grain car before explosions (video)

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BNSF Railway spokeswoman Amy McBeth says the several rail cars from the mile-long oil train derailed and caught fire at about 2:10 p.m. Monday less than a mile from the city.
Oil Barrel

Crude oil settles below $100 in thin trading

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Benchmark U.S. crude ended the day down $1.03, closing at $99.29.
Categories: Crude oil, Gasoline
Direct Energy's Frontera natural gas power plant in South Texas has a capacity of 494 megawatts. (Photo: Direct Energy)

Top 5 Ways Energy Production Benefited Consumers in 2013

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Its been a busy year for U.S. energy production with consumer prices on the decline due to increasing domestic supplies of natural gas and oil. Here are the Top 5 energy related news stories that benefit consumers in 2013.