Fuel Fix

An Iranian oil worker repairs a pipe at an oil refinery in Tehran, Iran. The latest U.S. sanctions to be imposed on Iran have not only unveiled the depth of the country's economic woes, but exposed new fault lines within the government just two months before parliamentary elections that should bolster the control of the ruling clerics. (AP Photo/Vahid Salemi, File)

Iran cut off from global financial system

The action is meant to enforce European Union sanctions and will go a long way toward isolating Iran financially.  More »
President Barack Obama makes a statement  on Thursday, March 17, 2011 about Japan's earthquake, tsunami, and subsequent nuclear concerns.  (AP Photo)

White House denies U.S.-U.K. agreement on tapping oil reserves

The White House denied a news report that the United States and Britain had agreed to cooperate releasing some oil from strategic reserves to counter rising asoline prices.  More »
(AP file photo/David J. Phillip)

Kinder Morgan may sell pipelines to gain approval of El Paso deal

Kinder Morgan tentatively has agreed to sell 7,200 miles of pipeline in order to gain regulatory approval for its merger with El Paso Corp.  More »
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Shell selects Pennsylvania for new refinery

Shell has chosen a site near Pittsburgh for a major new refinery that would convert natural gas liquids into chemicals used in many products, but actual construction is years away.  More »
(AP Photo/Keith Srakocic)

EPA oil, gas emission rules need more flexibility, group says

U.S. unconventional drilling with hydraulic fracturing would fall 31 to 52 percent from 2012 to 2015 without providing additional implementation time and other flexibility to proposed rules for emissions from oil and gas production, the American Petroleum Institute said.  More »
Craig Sautner, a resident of Dimock, Pa., holds a jug of contaminated water outside a September EPA meeting on hydraulic fracturing in New York. (Photo: AP/Press & Sun-Bulletin)

DEP tracking source of more methane in wells

State environmental officials are investigating the source of methane detected in three northern Pennsylvania water wells.  More »
This Feb, 13, 2012 photo shows gas prices at Exxon and BP Mini-mart in Scott Township, Pa. Consumer prices rose a modest 0.2 percent in January, pushed up by higher gas, clothing costs. (AP Photo/Gene J. Puskar)

More expensive gas pushes up US wholesale prices

Higher gas costs drove U.S. wholesale prices up last month. But excluding the big jump in gas, inflation was mostly tame.  More »
A woman fills up her SUV at a California gas station. (Photo: FREDERIC J. BROWN/AFP/Getty Images)

Drivers might soon see relief at the pump, analyst says

Skyrocketing gasoline prices may soon hit their peak, giving motorists some relief at the pumps soon.  More »
President Barack Obama (AP file)

Obama said to have discussed oil release with Cameron

President Barack Obama discussed a release of oil from the U.S. strategic reserve during his meeting in Washington yesterday with Britain’s Prime Minister David Cameron, a U.K. official with knowledge of the talks said.  More »
Shell's Arctic-class drill ship, the Kulluk, is shown as it is towed near Alaska. Shell is moving the Kulluk drilling unit from Dutch Harbor, Alaska, to a Seattle shipyard for ongoing maintenance and planned, technical upgrades. (Photo courtesy of Shell Oil Co.)

BP Exec: Alaska should change oil tax structure

The president of BP Exploration Alaska on Wednesday called the state’s current oil tax structure “a going out of business policy,” saying that without changes, investment by his company will stay flat, at best, in the short term and be scaled back in the long run.  More »
The Deepwater Horizon oil rig burns off the coast of Louisiana on April 21, 2010.  (AP file photo/Gerald Herbert)

BP has ability to pay more for spill with oil over $120

Oil prices close to the highest since 2008 are increasing BP Plc (BP/)’s available cash as it negotiates a final bill with the Obama administration to pay for damages caused by the worst U.S. spill.  More »
(Photo: Fotolia)

Oil trades near 1-week low on supply

Oil traded near the lowest price in more than a week as signs of rising U.S. stockpiles were balanced by concern that spare production capacity may be insufficient to cover any supply disruption in the Middle East.  More »