Three years into the U.S. oil boom, the record profits appear to be leveling off.
BY JIM MORRIS
Calling a "startling" pattern of spills and fires an "imminent hazard," the U.S. Department of Transportation took another small step Wednesday toward addressing the growing risks of shipping oil by rail from the North Dakota region to both coasts.
North Dakota officials are predicting a big surge in crude oil output in the next few months as the industry emerges from a tough winter.
SHAFTER, Calif. – A bustling city is sprouting on five acres here, carved out of a vast almond grove. Tanker trucks and heavy equipment come and go, a row of office trailers runs the length of the site and an imposing 150-foot drilling rig illuminated by football-field-like lights rises over the trees.
Ohio geologists have found a probable connection between fracking and several mild earthquakes in a region that had never experienced a temblor until recently, according to a state report.
PHILADELPHIA – Just a few years ago, the region's refineries were on life support, hurt by high prices of oil imported from foreign countries. Now, they're humming again with the daily deliveries of domestic crude in mile-long trains.
BY CURTIS TATE
The obituary for U.S. manufacturing has been written many times. But as Mark Twain famously informed the New York Journal after various newspapers had reported that he was dead or dying, reports of manufacturing's demise have been greatly exaggerated.
CAIRO – Confrontation deepened Sunday between Libya's weak central government and a rebel militia that has launched a brazen bid to sell crude oil and seize the profits for itself.
WASHINGTON – The Environmental Protection Agency issued final rules Monday to slash the amount of sulfur in gasoline, which would help cut smog-causing pollution from autos and bring the rest of the country's fuel supply in line with California's standards.
In 2014, we will decide if America continues to march toward global energy leadership or remains content to play a supporting role in the global energy market. We can erase what for decades has been America's greatest economic vulnerability – our dependence on energy sources from other continents, particularly from less stable and friendly nations – and fundamentally alter the geopolitical landscape for decades to come, all while providing a much needed boost to our economy. But only if we get our energy policy right.
The Energy Information Administration released its weekly report on the status of petroleum inventories in the United States today.
As a thought experiment, consider the 2014 motor fuel market a pizza, divided conveniently into eight slices. If you stretch the metaphor, U.S. consumers have completed the cheapest slice of winter pie since 2010. But GasBuddy predicts that some much more expensive slice of gasoline pricing is imminent, with pump prices likely to jump some 15-40 cents per gallon between now and Easter Sunday.
If you had any doubts, be assured that reasonable people are heeding the warnings of local officials and weather experts and have wisely elected to avoid the snow and ice covered roads. Especially in the eastern half of the country where many states are pounded with anywhere from 10 inches in Alabama to as much as 24 inches of snow, (MD, PA) many schools and business took off Thursday and are closed again today, electing to stay safe at home.
Seemingly overnight, gasoline prices have plunged. Regular unleaded is approaching $3 per gallon at my local Wawa. That's the lowest price since just after the recession ended.
WASHINGTON – Evidence is growing that fracking for oil and gas is causing earthquakes that shake the heartland.
WASHINGTON – There are likely enough votes in the Senate to approve the Keystone XL pipeline after the sweeping Republican success in Tuesday's election, an outcome that could decide the fate of one the biggest debates in decades over jobs and the environment.
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