Fuel Fix

An oil & gas drilling rig is drilling a well for Pioneer Natural Resources in the Eagle Ford Shale formation near Yorktown. (Eddie Seal/Texas Tribune)

Pioneer Natural slashes budget, halts drilling amid oil-price crash

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The Texas shale explorer scrapped plans to increase outlays for drilling announced early last month, and instead will reduce spending about 9 percent from last year.

Pioneer Natural slashes budget, halts drilling amid oil-price crash

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An oil & gas drilling rig is drilling a well for Pioneer Natural Resources in the Eagle Ford Shale formation near Yorktown. (Eddie Seal/Texas Tribune)
The Texas shale explorer scrapped plans to increase outlays for drilling announced early last month, and instead will reduce spending about 9 percent from last year.
(Daniel Acker/Bloomberg)

Wyoming oilmen diversify to survive the bust

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Casper businesses were the hub for Wyoming’s oilfields during the boom years. Today, they are rewriting business plans, reassigning machines for jobs outside the oil patch and experimenting with new product lines.
This aerial photo shows a flooded downtown Calgary, Alberta, Canada on Saturday, June 22, 2013. (AP Photo/The Canadian Press, Jonathan Hayward)

Calgary to begin flood cleanup as downtown to remain closed

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Calgary’s downtown, home to Canada’s oil industry, will remain closed through the early part of next week after swollen rivers flooded parts of the city, cutting off power and forcing evacuations. At least three deaths due to the flooding were reported Saturday.
Categories: Canada, General
President Barack Obama speaks at the TransCanada Pipe Yard in Cushing, Okla. in 2012.  (AP Photo/LM Otero)

Obama to unveil climate plan in Tuesday speech

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Obama said in a video the White House released Saturday that he’ll lay out his vision for reducing carbon pollution, preparing the U.S. for the effects of climate change and leading other nations in the global effort.

Syria rebels to get military support

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Qatari prime minister says arming rebels is the only way to achieve peace in country where civil war has claimed more than 90,000 lives
Categories: Uncategorized

Drumbeat: June 22, 2013

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Shale gas won’t stop peak oil, but could create an economic crisis
Two years ago, following the publication of the EIA April 2011 report a New York Times investigation obtained internal EIA communications showing how senior officials, including industr…
Categories: Uncategorized
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Pain at the pump? Smile. At least you don’t live in Norway.

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Find out where to get the cheapest gasoline in the world, and which citizens are paying top price to fill their tanks. The cost of filling up the 39-gallon tank of a Chevrolet Suburban in Turkey is $389.22, while in the U.S. it’s $137.

EU fails to agree on bank bailout rules

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Talks break down over how flexible the rules should be in requiring creditors and investors to pay for a bank failure in order to spare taxpayers
Categories: Uncategorized

BP alleges misconduct on oil spill payouts

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Company describes allegations of ‘unethical and potentially criminal behaviour’ by individuals working for the claims administrator
Categories: Uncategorized

Apple chief ties pay to stock price

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The move follows a protest by some shareholders over pay and comes at a time when the company’s share price is still far below September’s highs
Categories: Uncategorized

Banks seek to allay ETF investor fears

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A furious sell-off across markets this week left at least one primary dealer of ETFs and one leading issuer struggling to keep up with the selling
Categories: Uncategorized

Brazilian president promises to meet protesters

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Brazil’s Free Fare Movement says it has achieved its original objective of revoking a recent increase to the cost of bus, metro and train tickets
Categories: Uncategorized
(AFP PHOTO/US COAST GUARD/AFP/Getty Images)

Plaintiffs ask judge to impose punitive damages over spill

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Plaintiffs claiming harm from the 2010 Gulf of Mexico oil spill pressed a judge Friday to hammer BP, Transocean and Halliburton with punitive damages, insisting that overwhelming evidence shows the companies willfully disregarded the environment and worker safety.
Categories: Gulf oil spill

Jailed Enron chief has sentence cut

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The reduced time after a deal between prosecutors and Skilling’s lawyers, which forces him to hand over $42m to victims of his fraud
Categories: Uncategorized