Tue, 15 Mar 2011 11:52:02 EDTAMSTERDAM - Royal Dutch Shell PLC said Tuesday it plans to divert liquefied natural gas and fuel oil to Japan to help replace energy sources damaged in last week's earthquake and tsunami.
Tue, 15 Mar 2011 09:28:02 EDTOil prices slumped below $98 a barrel Tuesday as traders braced for the worst in Japan, where a third explosion in as many days at an earthquake-damaged nuclear plant triggered a radiation leak.
Tue, 15 Mar 2011 08:34:02 EDTCAIRO - Libya's oil exports have "ground to a halt" because of the fighting between rebels and pro-government forces, and it could be months before the country's crude resurfaces on world markets, the International Energy Agency said Tuesday.
Tue, 15 Mar 2011 04:38:01 EDTSINGAPORE - Oil prices slid to near $99 a barrel Tuesday in Asia as traders fled risky investments after a third explosion in three days at an earthquake-damaged Japanese nuclear plant triggered a radiation leak.
Mon, 14 Mar 2011 16:20:02 EDTWASHINGTON - Higher oil and food prices. Unemployment near 9 percent. Crises in the Middle East and Japan.
Mon, 21 Mar 2011 10:10:00 EDTThe money is flowing in, but it could bring with it a complacency that will hinder reform.
Sun, 13 Mar 2011 17:36:00 EDTThe money is flowing in, but it could bring with it a complacency that will hinder reform.
Sat, 12 Mar 2011 23:45:05 ESTPresident Obama's Friday news conference did little to advance U.S. policy on Libya or clarify the White House's position on resolving the budget impasse in Congress. The president nonetheless conveyed one unmistakable impression: He is now focused intently on winning back independent voters.
Fri, 11 Mar 2011 19:12:01 ESTPresident Obama acknowledged Friday that the fast-rising cost of gasoline could diminish the effect of policies designed to stimulate economic growth, but warned that he is not yet prepared to unleash the nation's energy reserves to bring down the price of oil.
Wed, 09 Mar 2011 20:56:01 ESTThe new Chevrolet Cruze Eco can reach eye-popping fuel economy levels of more than 50 miles per gallon on the highway.
Mon, 07 Mar 2011 21:47:03 ESTIs $100-a-barrel oil a national emergency? Some Democratic lawmakers say yes, and assert that now is the time for the United States to dip into its Strategic Petroleum Reserve, which is brimming with 727 million barrels of crude. "We encourage you to consider utilizing the Strategic Petroleum Res...
Wed, 02 Mar 2011 22:50:01 ESTCrude oil prices climbed to a 29-month high in New York on Wednesday, settling at more than $100 for the first time since September 2008 as fighting near key oil ports in Libya fueled anxiety that instability there could be prolonged and might inspire unrest in another oil-exporting nation.
Wed, 02 Mar 2011 00:00:00 ESTFederal Reserve Chairman Ben S. Bernanke said Tuesday for the first time that the central bank is prepared to take action if rising prices for oil and other commodities either slow the economy or spark inflation.
Tue, 01 Mar 2011 20:35:02 ESTEven as its oil receipts slow to a trickle and international sanctions take hold, the Libyan regime of Moammar Gaddafi can fall back on as much as $110 billion in foreign reserve holdings to fund its operations for perhaps months to come.
Sun, 27 Feb 2011 20:28:01 ESTNEW YORK - High fuel prices are putting the squeeze on drivers just as they are starting to feel better about the economy. They also are forcing tough choices on small-business owners, who are loath to charge more for fear of losing cost-conscious customers.
Fri, 25 Feb 2011 00:20:00 ESTCrude oil prices break through the $100-a-barrel mark, and gasoline prices climb, as violence continues to rock Libya and unsettle oil markets.
Tue, 22 Feb 2011 21:10:03 ESTThe shots fired in Tripoli, Libya, reverberated throughout the world's financial markets Tuesday, hammering stock markets, boosting crude oil prices and sending investors fleeing toward the relative safety of U.S. Treasury securities.
Thu, 17 Feb 2011 22:35:01 ESTPresidential oil spill commission's general counsel issues report laying considerable blame on BP's doorstep.
Tue, 15 Feb 2011 13:03:00 ESTThe New York State comptroller, the Ohio state pension funds and other large investors have alleged that BP made cost-saving cutbacks in its safety operations prior to last year's major oil spill and that it disregarded safety warnings from its own managers.
Fri, 11 Feb 2011 19:59:00 ESTThree books describe the gulf oil spill disaster, the history of BP, and the nature of U.S. energy policy and regulation of the industry.
Sun, 06 Feb 2011 20:00:00 ESTJust what Egypt's crisis will do to the markets is unclear.
Tue, 01 Feb 2011 20:57:01 ESTBP said Tuesday that it will restart its suspended dividend payments, put its troubled Texas City refinery up for sale and sell another $13 billion in assets, a move aimed at covering costs flowing from last year's the massive oil spill in the Gulf of Mexico.
Mon, 31 Jan 2011 20:13:04 ESTExxon Mobil profits soar, and so do crude oil prices.
Mon, 31 Jan 2011 18:19:01 ESTJust before Thanksgiving 2009, my family began heating and cooling our 4,400-square-foot suburban home with geothermal energy. As I wrote in a story that appeared in Health & Science last March, we got rid of our 24-year-old oil-burning furnace and traditional air conditioning, and replaced t...
Tue, 01 Feb 2011 00:00:00 ESTPolitical turbulence in Egypt is casting a pall on world financial markets, driving up the prices of crude oil and food and creating new risks for the shaky world economy in the months ahead.
Sun, 23 Jan 2011 22:59:00 ESTA massive feat of engineering by any measure, the Keystone pipeline expansion project would transport crude oil close to 1,700 miles from "oil sands" in the icy reaches of Hardisty, Alberta, down through the Great Plains to the refineries of Port Arthur, Tex. In doing so, the giant pipe also prom...
Wed, 19 Jan 2011 18:49:01 ESTThe Obama administration continued to shake up the agency that oversees oil and natural gas drilling, announcing a plan Wednesday to create separate offices to promote energy development and enforce safety.
Tue, 11 Jan 2011 21:16:02 ESTThe presidential oil spill commission said Tuesday that the federal government should require tougher regulation, stiffer fines and a new industry-run safety organization, recommendations that face an uncertain future in the new Congress.
Thu, 06 Jan 2011 00:00:00 ESTThe presidential oil spill commission on Wednesday blamed the Gulf of Mexico oil spill last year on "missteps and oversights" by oil giant BP, rig owner Transocean and contractor Halliburton, saying those errors were "rooted in systemic failures" and could happen again.
Tue, 04 Jan 2011 00:00:00 ESTRussia's change in tone has a simple explanation: Oil prices have soared.
Sat, 01 Jan 2011 17:42:00 ESTThe headline news for the coal industry in 2010 was what didn't happen: Construction did not begin on a single new coal-fired power plant in the United States for the second straight year.
Thu, 30 Dec 2010 22:01:01 ESTTEL AVIV - Israel can look forward to long-term energy security after the discovery of a huge offshore natural gas field, but obstacles lie in exporting its output, experts said Thursday.
Wed, 15 Dec 2010 20:18:00 ESTThe Justice Department sued BP and eight other companies Wednesday over the Gulf of Mexico oil disaster, the federal government's first legal filing in its broad investigation of the worst oil spill in U.S. history.
Mon, 13 Dec 2010 14:14:02 ESTKABUL - The Afghan government on Monday awarded a small but potentially path-breaking crude oil contract, marking the first phase of an effort that U.S. and Afghan officials say could bring the cash-strapped government significant revenue.
Fri, 10 Dec 2010 20:37:01 ESTCrude oil prices have flirted with the $90 a barrel threshold this week, pushing up gasoline prices at the pumps and crimping consumers in the middle of the peak shopping season.
Fri, 03 Dec 2010 22:17:02 ESTBP lawyers have said that government estimates of the size of the Gulf of Mexico oil spill are too big, perhaps by as much as 20 to 50 percent, signaling a dispute that will determine how many billions of dollars of fines BP will have to pay under the Clean Water Act.
Thu, 02 Dec 2010 00:00:00 ESTThe Obama administration announced Wednesday that it will not allow offshore oil drilling in the eastern Gulf of Mexico or off the Atlantic coast through 2017, reversing two key policy changes the president embraced in late March.
Sun, 28 Nov 2010 18:43:00 ESTBP has agreed to sell its share of an Argentina-based oil and gas company for $7.06 billion in cash, bringing to about $21 billion its total sales of assets to help cover costs stemming from the Gulf of Mexico oil spill.
Tue, 09 Nov 2010 21:09:01 ESTMonday was a relatively good day for BP in the glare of oil spill inquiries. Tuesday was a bad day.
Mon, 08 Nov 2010 20:56:00 ESTThe chief counsel for the president's oil spill commission said Monday that he had not found any evidence that workers onshore or on the Deepwater Horizon drilling rig cut corners on safety for the sake of saving money before the rig exploded on April 20, killing 11 people.
Tue, 02 Nov 2010 22:13:02 EDTThe extensive pipeline system that moves oil, gas and waste throughout BP's operations in Alaska is plagued by severe corrosion, according to an internal maintenance report generated four weeks ago.
Mon, 01 Nov 2010 17:37:00 EDTIN BISHKEK, KYRGYZSTAN When U.S. troops moved into Afghanistan in 2001, Douglas Edelman already had a foothold in Central Asia. He'd opened a bar and hamburger joint here in the capital of Kyrgyzstan, the crumbling, outer rim of the former Soviet empire.
Fri, 29 Oct 2010 10:22:00 EDTHours after a presidential commission raised new questions about the safety of the cement mixture intended to temporarily seal BP's Macondo exploration well, oil field service giant Halliburton said the final version of the mixture did not undergo a foam-stability test.
Fri, 29 Oct 2010 08:57:00 EDTOn Sept. 9, a 30-inch natural gas pipeline exploded in the suburban community of San Bruno, Calif., creating a 2,000-degree fireball that killed eight people, destroyed 37 homes and left more than 60 people injured. A gaping crater replaced homes at the center of the blast.
Thu, 28 Oct 2010 22:48:04 EDTNEW YORK - The major oil companies racked up significant gains in net income for the third quarter by charging more for oil than they could a year ago and making money refining it.
Thu, 28 Oct 2010 00:25:00 EDTTEHRAN - The United States and Europe have worked cooperatively on Iran policy since President Obama took office, but a small crack might have begun to open over sanctions that are beginning to pinch ordinary Iranians.
Thu, 21 Oct 2010 12:03:02 EDTMix together a couple of big oil refiners, an arch-conservative oil tycoon, "green tech" venture capitalists, a former secretary of state and California's far-reaching climate legislation, and stir.
Wed, 20 Oct 2010 18:36:01 EDTIn June, President Obama tapped lawyer Kenneth R. Feinberg, 64, to oversee the $20 billion account funded by BP to compensate victims of the Gulf Coast oil spill, making him the nation's most famous mediator.
Wed, 20 Oct 2010 00:55:00 EDTVENICE, LA. -- The oil has mostly disappeared. And in southern Louisiana, things are finally looking normal - improbably, blessedly normal - six months after the largest oil spill in U.S. history.
Sun, 10 Oct 2010 23:06:00 EDTThe China National Offshore Oil Corp. will pay Chesapeake Energy $2.2 billion for a one-third interest in a South Texas oil and natural gas shale project and will pay billions of dollars more for its share of development costs over the next several years.
Fri, 08 Oct 2010 21:43:01 EDTMETAIRIE, LA. - There's been a lot of talk about the "safety culture" at BP in the wake of the Deepwater Horizon disaster in the Gulf of Mexico. Now, federal investigators are probing what looks to them like BP's save-money culture.
Thu, 30 Sep 2010 12:17:00 EDTInterior Secretary Ken Salazar is getting ready to take his finger off what he has called the "pause" button on deepwater oil drilling, with environmentalists and oil industry executives alike worried about what comes next.
Thu, 30 Sep 2010 00:00:00 EDTBP's internal report on the causes of the Deepwater Horizon blowout, released earlier this month, summarized the calamity as the result of eight separate breaches of physical and operational barriers, any one of which could have, and should have, stopped the unfolding disaster. The blowout, in the...
Thu, 30 Sep 2010 00:00:00 EDTOn April 20, as lethal amounts of oil and gas crept into the drill pipe of BP's Macondo well in the Gulf of Mexico, the attention of the energy and environmental world was elsewhere.
Thu, 30 Sep 2010 00:00:00 EDTAs the U.S. seeks to reduce oil consumption, not all the news is bad: For years, automakers have been selling Americans cars with ever more efficient engines. In fact, a car purchased today is able to extract nearly twice as much power from a gallon of gas as its counterpart did 25 years ago.
Tue, 28 Sep 2010 23:06:01 EDTBP is set to to issue $3 billion in bonds. Separately, the Justice Department told a federal judge that, despite the oil spill, there was no reason to revoke BP's probation associated with the 2005 Texas City refinery explosion.
Mon, 27 Sep 2010 19:13:03 EDTThe two chairmen of the president's Oil Spill Commission, which is conducting an inquiry into the April 20 Deepwater Horizon disaster in the Gulf of Mexico, expressed skepticism Monday about claims from BP and government officials that initial underestimation of the flow rate of the Macondo well had
Sat, 18 Sep 2010 01:48:00 EDTAt last, the well is dead. BP's Macondo oil well is physically incapable of leaking another drop, according to the head of the U.S. government's response effort. Retired Coast Guard Adm. Thad W. Allen said Friday that this discovery was made after a "relief well" finally broke through into the...
Wed, 15 Sep 2010 21:23:00 EDTThe Interior Department said Wednesday that oil and gas companies operating in the Gulf of Mexico need to do more to permanently plug nearly 3,000 inactive wells and dismantle about 650 production platforms that are no longer in use.
Sun, 12 Sep 2010 09:06:00 EDTDelivering the results of BP's internal oil spill investigation last week, chief investigator Mark Bly said he found no sign that the company cut corners to save money.
Wed, 08 Sep 2010 22:50:02 EDTBP rolled out the results Wednesday of a four-month internal investigation into the causes of the April 20 blowout of its Macondo oil well in the Gulf of Mexico, spreading blame among its contractors and giving a glimpse of the defenses it might deploy in public and in court.
Wed, 08 Sep 2010 18:02:01 EDTBP released a long-awaited report Wednesday on an internal investigation into the causes of its Gulf of Mexico oil well blowout, blaming multiple failures by BP and other firms but absolving its much-criticized well design.
Thu, 02 Sep 2010 23:48:01 EDTAn oil and gas production platform in the Gulf of Mexico caught fire Thursday morning, reigniting the political debate over the safety of offshore wells.
Thu, 02 Sep 2010 23:48:01 EDTThe fire Thursday at an oil platform off the Louisiana coast may not, in the end, do much harm to the Gulf of Mexico. But it could still mean trouble for both the Obama administration and the oil industry - by raising new questions about the gulf's oil fields.
Sun, 29 Aug 2010 21:10:01 EDTOn Thursday, some of the country's most respected environmental groups - in the midst of their biggest political fight in two decades - sent a group of activists to Milwaukee with a message.
Fri, 27 Aug 2010 20:22:02 EDTA BP drilling engineer involved in the planning of the Macondo well declined to testify before a federal investigative panel Friday, invoking through his lawyer his Fifth Amendment right against self-incrimination.
Thu, 26 Aug 2010 20:12:01 EDTHOUSTON - Federal investigators on Thursday grilled BP Senior Vice President Kent Wells on the company's history of safety problems in the Gulf of Mexico and demanded more clarity on who at the company is ultimately responsible, and accountable, for drilling operations.
Wed, 25 Aug 2010 20:49:00 EDTHOUSTON - The Macondo well gushes no more, but the lawyers are just getting started.
Tue, 24 Aug 2010 22:14:02 EDTTwo weeks after BP's Macondo well blew out in the Gulf of Mexico, the federal government's Minerals Management Service finalized a regulation intended to control the undersea pressures that threaten deepwater drilling operations.
Tue, 24 Aug 2010 00:00:00 EDTWith the end of the summer driving season just around the corner, traders and investors on Monday drove gasoline prices to an eight-month low on U.S. commodities markets, providing the latest sign of pessimism about the economic recovery.
Mon, 23 Aug 2010 00:00:00 EDTA federal investigative panel will begin its next round of hearings Monday into the Deepwater Horizon disaster and call witnesses who can address alleged shortcuts in the drilling of the BP oil well, problems with the failed blowout preventer and the confused scene after an explosion on the rig.
Sat, 21 Aug 2010 00:00:00 EDTIt was awkward from the start, this marriage of necessity between BP and the federal government. The government had ultimate authority; BP had the technology to plug the Macondo well. Something known as the National Contingency Plan called for a "unified command" in which government officials would...
Sat, 21 Aug 2010 00:00:00 EDTOn Monday, Kenneth R. Feinberg -- Washington's expert in the messy business of valuing tragedy in dollars and cents -- officially takes over one of the messiest cases of his career.
Fri, 20 Aug 2010 00:00:00 EDTAcademic scientists are challenging the Obama administration's assertion that most of BP's oil in the Gulf of Mexico is either gone or rapidly disappearing -- with one group Thursday announcing the discovery of a 22-mile "plume" of oil that shows little sign of vanishing.
Fri, 20 Aug 2010 00:00:00 EDTEven as they work together to kill the Macondo well in the Gulf of Mexico, the oil giant BP and the deep-water drilling rig company Transocean are in an increasingly bitter battle over what went wrong on April 20 to trigger America's worst oil spill.
Thu, 19 Aug 2010 00:00:00 EDTHOUSTON -- The protesters have stopped coming here to wave angry signs in front of BP's large office campus. The boycotts of BP gas stations are tapering off, too -- both signs that the energy company's plug of the spewing Gulf of Mexico oil well is quieting its loudest critics.
Mon, 16 Aug 2010 00:00:00 EDTGRAND ISLE, LA. -- The pile of soiled boom sitting more than four feet high and cooking under the summer sun at an abandoned shipyard here will be a part of the oil spill that endures.
Sat, 14 Aug 2010 00:00:00 EDTPASCAGOULA, MISS. -- Johnny Ray Harris hunted for oil in the gulf near his home for 45 days straight, radioing in coordinates to cleanup crews when he spotted large, inky patches floating in the choppy waters.
Tue, 10 Aug 2010 00:00:00 EDTI thought nuclear reactors were an absolute no-go for environmentalists. But I keep hearing them touted as a clean energy source. What are nuclear energy's green credentials?
Mon, 09 Aug 2010 00:00:00 EDTBURAS, LA. -- Obama administration officials promised Sunday to remain focused on the Gulf Coast -- punishing BP for the worst oil spill in U.S. history, and cleaning up what remains of the mess.
Sun, 08 Aug 2010 16:58:00 EDTWith growing indications that BP has at last brought its rogue well under control in the Gulf of Mexico, the Obama administration is increasingly focused on the energy giant's legal responsibilities for the massive spill, as well as on operational lessons for the oil industry.
Sun, 08 Aug 2010 00:00:00 EDTSo the blown-out oil well in the gulf has finally stopped gushing, plugged with heavy mud and awaiting the ultimate "kill" by a relief well. Yet, even with the largest oil spill in the nation's history in the background, what seems to have been killed much more quickly is Washington's will to tak...
Fri, 06 Aug 2010 00:00:00 EDTMARSHALL, MICH. -- In the Summer of the Spill, history is already repeating itself, this time in Michigan.
Thu, 05 Aug 2010 17:07:02 EDTBP has finished pumping cement into the blown-out Macondo well in the Gulf of Mexico as part of its efforts to permanently plug the source of the nation's worst oil spill, the company said Thursday.
Thu, 05 Aug 2010 00:00:00 EDTOn the 107th day of the Deepwater Horizon disaster, the Macondo well became an apparently harmless hole in the seafloor, clogged with 13-pound-per-gallon gunk, and barely more of a threat to spew oil into the Gulf of Mexico than to start gushing lemonade.
Wed, 04 Aug 2010 15:54:00 EDTA procedure to pump heavy mud into the blown-out BP oil well in the Gulf of Mexico has succeeded in plugging it, officials said Wednesday, and government scientists reported that most of the crude that gushed from it for three months has dissipated or been removed from the water.
Wed, 04 Aug 2010 00:00:00 EDTDays after the Deepwater Horizon oil rig sank in the Gulf of Mexico, a conservative nonprofit group called the Institute for Energy Research asked BP to contribute $100,000 for a media campaign it was launching in defense of the oil industry.
Tue, 03 Aug 2010 00:00:00 EDTThe blown-out well in the Gulf of Mexico gushed 12 times faster than the government and BP estimated in the early weeks of the crisis and has spilled a whopping 4.9 million barrels, or 205.8 million gallons, according to a more detailed analysis announced late Monday.
Mon, 02 Aug 2010 16:41:00 EDTBP plans to begin easing mud into its runaway well in the Gulf of Mexico by Monday night, a preliminary step in a "static kill" procedure that potentially could kill the Macondo well by midweek.
Mon, 02 Aug 2010 00:00:00 EDTNo longer do scarce U.S. natural gas reserves suggest increasing foreign dependence.
Sun, 01 Aug 2010 00:00:00 EDTWhile the BP well was still gushing, the Obama administration issued an order that limited the spreading of controversial dispersant chemicals on the Gulf of Mexico's surface. Their use, officials said, should be restricted to "rare cases."
Sat, 31 Jul 2010 00:00:00 EDTDavid Dykes -- the federal regulator now leading his agency's investigation of the BP oil spill -- has spent five years as a senior investigator and office chief enforcing oil industry safety in the Gulf of Mexico. For much of that time, his brother was a top executive at an energy company with...
Thu, 29 Jul 2010 00:00:00 EDTWas Tony Hayward right, after all? Back in May, BP's chief executive told a British newspaper that "the Gulf of Mexico is a very big ocean," and the vast amounts of oil and chemical dispersants dumped into it were small by comparison. After he said that, BP's well leaked for two more months. Hayw...
Wed, 28 Jul 2010 00:00:00 EDTBP gave investors a glimpse of its future Tuesday, one that will feature a new American chief executive, slimmed-down operations, and $32.2 billion or more in payments to clean up and compensate people affected by the massive oil spill in the Gulf of Mexico.
Tue, 27 Jul 2010 23:56:01 EDTBP said Tuesday that it plans to cut its U.S. tax bill by $9.9 billion, or about half the amount pledged to aid victims of the disaster, by deducting costs related to the oil spill.