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Energy / Crude Oil

Articles and research looking into crude oil, whether it be exploration and refining - crude oil price movements or new crude oil extraction techniques. we have it covered here. Look at our energy section for more fossil fuel coverage.

  • U.S. Targets Islamic State’s Lucrative Oil Smuggling Operations

    With U.S. President Barack Obama’s announcement of an open-ended plan for airstrikes on the Islamic State (IS), the U.S. and its allies will need to degrade the power and influence of the Sunni jihadist group, and that means reducing its incoming flow of oil money.And the Obama administration seems aware of that, according to a New York Times article that reports that the President and U.S. diplomats are pressuring Turkey to cut off the stream of oil smuggled across its border.Related: Eliminating The Scourge Of Islamic State In IraqIS controls territory in central and northern Iraq, and is thought to be…

  • New Sanctions Against Russia Could Deal Big Blow To ExxonMobil

    On Friday, the United States and the European Union imposed a new round of sanctions on Russia in response to Moscow’s intervention in eastern Ukraine and following its annexation of the Crimean peninsula in March. The goal is to clamp down further on the Russian economy but it will significantly affect the drilling plans of western oil giants ExxonMobil and BP.In fact, this closes a loophole that allowed Exxon to begin drilling Russia’s first exploratory well in the arctic Kara Sea last month — a well that could have to shut down in less than two weeks. Exxon’s lawyers were…

  • Can New Technology Help The Oil Sands Industry Clean Up Its Act?

    The oil sands industry is developing new technologies to reduce pollution and the impact on the lands where they operate – an increasing concern as extraction operations ramp up.But will it be enough?The Economist recently published a glowing article on the various new technologies that companies are deploying in the Athabasca oil sands in Alberta, Canada. To start, there is “in-situ” production. Traditional oil sands production is closer to strip mining than to conventional oil drilling and has myriad negative environmental effects. The land is cleared, often by removing large swathes of forests, and the oil sands are dug up…

  • U.S. Oil Boom Revitalizing Rust Belt Economy

    The American Midwest is enjoying a one-two punch of an economic boom thanks to hydraulic fracturing. The relatively new – and still controversial -- technique is not only generating more energy, it’s also sparking a revitalization of old industries and boosting economically depressed cities and regions.In whole swaths of Ohio, for example -- from the state’s industrial northeast to its agricultural center – oil and gas fracking is helping to reawaken other sectors of the economy, including manufacturing, real estate and hotels.Fracking – which involves injecting chemical-laced fluids into deep shale deposits to provide access to oil and gas deposits…

  • UK Wants U.S. Supreme Court To Limit BP Liability For Deepwater Horizon

    The British government is urging the U.S. Supreme Court to limit payments by BP, the UK’s second-largest oil producer, to some victims of the 2010 Deepwater Horizon oil spill in the Gulf of Mexico, arguing that rulings by lower courts undermine confidence in judicial fairness.In a “friend-of-the-court” brief dated Sept. 4, the government contended that decisions so far to pay compensations to individuals who had not been hurt by the spill undermines “confidence in the vigorous and fair resolution of disputes.”BP wants the court to limit compensation payments that were mandated in 2012 by a U.S. District Court judge in…

  • Unpopular European Fracking Could Provide Independence From Russia

    Fracking has transformed the United States into the world’s largest producer of natural gas, and now Europe is weighing the pros and cons of the controversial technique as it seeks greater energy independence from its chief gas supplier, Russia.The move comes amid the unprecedented crisis in relations between Russia and Ukraine that began when Moscow annexed Crimea earlier this year and then threw its support to pro-Russian Ukrainian separatists battling Kiev. An estimated 16 percent of Russian gas destined for Europe flows through Ukraine, and since Russia meets around a third of Europe’s demand for oil, natural gas and coal,…

  • Why Peak Oil Refuses To Die

    Perhaps you’ve seen one of the recent barrage of articles claiming that fears of an imminent peak and decline in world oil production have either been dispelled (because we actually have plenty of oil) or are misplaced (because climate change is the only environmental problem we should be concerned with). I’m not buying either argument.Why? Let’s start with the common assertion that oil supplies are sufficiently abundant so that a peak in production is many years or decades away. Everyone agrees that planet Earth still holds plenty of petroleum or petroleum-like resources: that’s the kernel of truth at the heart…

  • Obama’s Oil Boom – Global Warming Be Damned

    Considering all the talk about global warming, peak oil, carbon divestment, and renewable energy, you’d think that oil consumption in the United States would be on a downward path.  By now, we should certainly be witnessing real progress toward a post-petroleum economy.  As it happens, the opposite is occurring.  U.S. oil consumption is on an upward trajectory, climbing by 400,000 barrels per day in 2013 alone -- and, if current trends persist, it should rise again both this year and next.In other words, oil is back.  Big time.  Signs of its resurgence abound.  Despite what you may think, Americans, on…

  • Soros Signals Argentina’s Shale is Biggest Place to Be

    One of the world’s legendary investors is upping his bet on Argentina’s shale oil and gas industry in a show of confidence for shale production in South America’s largest unconventional prize - and a big boost for both supermajors and smaller players making big waves in the heart of new discovery areas. George Soros has doubled his stake in YPF SA, the state-owned oil company in Argentina, which sits atop some of the world’s largest shale oil and gas resources, and is about to get even larger following a new discovery over the last couple of weeks of a second…

  • Return to the Arctic: Shell Looks Set To Take Another Run

    Shell could be returning to the Arctic after a two-year hiatus. The company submitted a drilling plan to the U.S. Department of Interior on Aug. 28, which suggests it is considering returning to the icy waters in the far north to look for oil. While no final decision has been made, Shell’s submission puts the company on track to drill in the summer of 2015.Shell has spent several years and nearly $6 billion on its Arctic campaign thus far. Harsh conditions, poor infrastructure, and a short drilling season hindered its progress, but it was the company’s bungled 2012 operations –…