Fuel Fix

Motorists refuel at a Mobil gas station in Pittsfield, Mass., where regular gasoline is for sale at $1.99 per gallon, Tuesday Sept. 29, 2015. (Ben Garver/The Berkshire Eagle via AP) BERKSHIRE COURIER OUT, GREAT BARRINGTON RECORD OUT, RURAL INTELLIGENCER OUT, BERKSHIRES OUT; MANDATORY CREDIT

Obama: Cheap gasoline prices drove oil tax decision

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Categories: Crude oil, featured, Gasoline
The proposal faces an uphill battle in the Republican-led Congress, which has repeatedly pushed back against the president’s climate change initiatives.

Obama: Cheap gasoline prices drove oil tax decision

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Categories: Crude oil, featured, Gasoline
Motorists refuel at a Mobil gas station in Pittsfield, Mass., where regular gasoline is for sale at $1.99 per gallon, Tuesday Sept. 29, 2015. (Ben Garver/The Berkshire Eagle via AP) BERKSHIRE COURIER OUT, GREAT BARRINGTON RECORD OUT, RURAL INTELLIGENCER OUT, BERKSHIRES OUT; MANDATORY CREDIT
The proposal faces an uphill battle in the Republican-led Congress, which has repeatedly pushed back against the president’s climate change initiatives.
(Photographer: Eddie Seal, Bloomberg)

Drillers shut down dozens of rigs last week, biggest pull-back since April 2015

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Losses in the oil patch deepened in the second half of 2015 and into 2016 along with plummeting prices of crude.
Categories: Crude oil, featured, Texas
Iran's President Hassan Rouhani gestures at the conclusion of his press conference, in Tehran, Iran, Sunday, Jan. 17, 2016. The implementation of a historic nuclear deal with world powers is expected to pave the way for a new economic reality in Iran, now freed from harsh international sanctions. On Sunday Rouhani presented parliament with a draft budget that plans for an economic windfall even as it reduces reliance on oil revenues. (AP Photo/Ebrahim Noroozi)

Iran signs flurry of business deals as leader visits Europe

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Some business deals are ready to be inked but others are still in negotiation as a few sanctions not related to the nuclear program remain in place, particularly by the U.S., on the trade of goods that could be used for military or intelligence purposes.
NEW YORK, NY - JANUARY 04:  A trader works on the floor of the New York Stock Exchange during the morning of January 4, 2016 in New York City. Today marks the first day of trading for the New York Stock Exchange; the market dove over 400 points upon opening.  (Photo by Andrew Burton/Getty Images)

Stocks rise with oil prices, consumer and bank stocks climb

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Higher oil prices and some positive earnings news from U.S. companies are helping to send the stock market higher.
Categories: Crude oil, Markets
(Sam Hodgson/Bloomberg)

Texas gets “F” grade on net-metering policies for solar power and more

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The new “Freeing the Grid” report from Vote Solar and the Interstate Renewable Energy Council also gave Texas a “D” grade on its interconnection policies, which are the rules customers follow to “plug” their renewable energy generation into the grid.
FMC Technologies elaborate booth in the Offshore Technology Conference at the NRG Center Wednesday, May 6, 2015, in Houston, Texas. (Gary Coronado/Houston Chronicle)

FMC Technologies scores $180 million contract for project offshore Australia

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Houston-based FMC Technologies landed an $180 million contract to design, manufacture and supply subsea production systems for a project offshore Western Australia, the company announced.
John Hess, chairman and CEOr of Hess Corp., speaks at the CERAWeek Energy Conference on global energy in Houston. (F. Carter Smith/Bloomberg News)

Hess cuts 2016 budget by 40 percent

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The budget cut lines up with projections forecasting deep spending reductions in the industry this year.

Crude to lead global fuel demand for decades to come

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Sixty years to the day after Buddy Holly’s first official recording session took place, and “Blue Days, Black Nights” have become a common occurrence for the crude complex of late. Prices are bucking that trend for now, however, and we are seeing a morning in the green. Last night was certainly dark times for the […]
(Daniel Acker/Bloomberg News)

Pipeline builders facing new obstacle in Western Canada: saboteurs

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Saboteurs represent the latest hassle Western Canada faces in getting its crude to coastal markets as plans to build new pipelines are stymied by environmental and legal challenges.
Categories: Canada, Crude oil, Pipelines
Electric light illuminates the derrick tower of an oil drilling platform at a site operated by Tatneft OAO near Almetyevsk, Russia, on Friday, July 31, 2015. Eleven months of surviving with oil below $100 have left Russia hardened enough to endure a monthlong drop to $40 a barrel, a survey of economists showed. Photographer: Andrey Rudakov/Bloomberg

Distress in the oil patch is spurring a new type of joint venture

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Joint ventures between oil and gas explorers in the U.S. and their foreign counterparts helped fuel the shale boom. They’re coming back in a new iteration for the bust.
Categories: Crude oil, Deals
People wave Russian flags as they look at Russian President Vladimir Putin delivering a speech on a screen on March 18, 2014, in Sevastopol.  (VIKTOR DRACHEV/AFP/Getty Images)

How cheap oil is squeezing Russia’s economy

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Russia, which relies on oil and natural gas for almost half its fiscal revenue, ran a budget deficit of 2.6 percent in 2015, the highest in five years.
Categories: Crude oil, Europe
Gulf Oil Spill

Industry report: Majority of energy sector thinks it is repeating mistakes

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About 56 percent of 920 global energy executives surveyed believe too many companies are short-sighted about making quick cutbacks, said the “A New Reality” report from DNV GL, a leading technical adviser to the industry. Nearly three quarters of those surveyed said a new phase of budget management is needed to prepare to succeed in a sustained period of low oil prices.
(Photo by Andrew Burton/Getty Images)

EIA: Natural gas prices could rise as production finally slows

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Oil and gas drillers across the United States have struggled under collapsing commodity prices, driven in part by a boom in domestic shale drilling that has transformed the industry.
Categories: Markets, Natural gas
FILE - In this May 9, 2015 file photo, workers unload pipes at a staging area in Worthing, S.D., for the proposed 1,130-mile Dakota Access Pipeline that would stretch from the Bakken oil fields in North Dakota through South Dakota and Iowa to a hub in Illinois. North Dakota regulators are slated to decide the permit for the pipeline on Wednesday, Jan. 20, 2016. Regulators in South Dakota and Illinois already have approved permits for the project. (AP Photo/Nati Harnik, File)

Williams cuts its capital budget by more than $1 billion

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The 35 percent capital budget cut from last year comes amid the ongoing oil crash and just two weeks after Moody’s Investor Service downgraded Williams’ credit rating. Williams said it is slicing its capital budget from $3.3 billion down to $2.1 billion for the year.