Saudi Arabia said Thursday that the U.S. had urged the kingdom to postpone a decision by OPEC and its allies — including Russia — to cut oil production by a month. Such a delay could have helped reduce the risk of a spike in gas prices ahead of the U.S. midterm elections next month. A […]
Tag: oil
OPEC+ production cut threatens gas price hike
OPEC+ is set to hold a critical meeting on Wednesday in Vienna to decide whether to cut production, a move that would drive up the price of oil. Energy industry analysts say the cut could be as much as 2 million barrels per day, a move that would likely contribute to higher gas prices in […]
Dow Gains 130 Points, Reaches All Time High
U.S. equities kicked off the second half of the year on the right foot, closing mostly higher on Monday as bank stocks climbed. The Dow Jones industrial average notched a record high before closing about 130 points higher, with Goldman Sachs contributing the most gains. The S&P 500 rose 0.23 percent, with financials and energy […]
Trump To Erase Post-2008 Bank Regulations
The president had praise for Jamie Dimon, whose bank, JPMorgan Chase, was often a target of regulatory actions by the Obama administration. The meeting underscored the degree to which the architects of Mr. Trump’s economic strategy are now some of the very people he lambasted in his campaign, which ended with a commercial that described […]
Obama Bans Offshore Drilling In Atlantic And Arctic Oceans
President Obama moved to solidify his environmental legacy Tuesday by withdrawing hundreds of millions of acres of federally owned land in the Arctic and Atlantic Ocean from new offshore oil and gas drilling. Obama used a little-known law called the Outer Continental Shelf Lands Act to protect large portions of the Chukchi and Beaufort seas in […]
North Dakota Pipeline Spills Over 170,000 Gallons Of Oil Into Creek
About 150 miles from where thousands have protested for months that the Dakota Access pipeline could threaten a Sioux tribe’s water supply, a pipeline in the western part of North Dakota has spilled more than 130,000 gallons of oil into a creek, state officials said. In all, the Belle Fourche pipeline lost 4,200 barrels of […]
One Of The Largest Oil Fields In US History Found In West Texas
DALLAS – A vast field of shale rock in West Texas could yield 20 billion barrels of oil, making it the largest source of shale oil the U.S. Geological Survey has ever assessed, agency officials said. The Wolfcamp Shale geologic formation in the Midland area also contains an estimated 16 trillion cubic feet of natural […]
Foreign Bank Reconsiders Funding For Dakota Access Pipeline
As if the Dakota Access Pipeline project didn’t already have enough problems, Norwegian bank DNB, is rethinking its earlier decision to doll out $342.36 million in loans to construct the pipeline—a figure that represents about 10 percent of the project’s total, according to Norwegian daily Aftenposten. In addition to DNB, pension funds for over 650,000 […]
The DaPL Controversy Explained
By now, you’ve probably encountered the conflict between the Standing Rock Sioux tribe and the energy company Energy Transfer Partners (ETP). Maybe you’ve seen the ubiquitous #NoDAPL hashtag, noted the celebrity arrests, or even panicked as you thought half your Facebook friends had suddenly booked tickets to North Dakota. The fight is a complex one, […]
Bernie Sanders calling for stop to Dakota pipeline
WASHINGTON Former Democratic presidential candidate Bernie Sanders and four other U.S. senators on Thursday called on President Barack Obama to order a comprehensive environmental review of a pipeline project that has stirred widespread opposition from Native Americans and environmental activists. After a federal appeals court on Sunday night denied a request to halt construction of […]
Oil CEO Wants To Bribe Native Americans To Support Dakota Pipeline
A top North Dakota oil executive has a new take on how the Dakota Access Pipeline stalemate could be broken. Cenk Uygur and John Iadarola, hosts of The Young Turks, break it down. Tell us what you think in the comment section below. http://tytnetwork.com/join”The chief executive of North Dakota’s largest oil producer, Whiting Petroleum Corp, […]
Pipeline opponents interrupt oil industry meeting to make case
MINOT – A handful of Dakota Access Pipeline opponents took over the stage Wednesday as North Dakota’s top oil regulator spoke to an oil industry group’s annual meeting. The elders of the Oglala Lakota Nation referred to the pipeline as the “black snake” as they took the podium and microphone while Department of Mineral Resources […]