energy industry

Business
11:32 am
Thu October 16, 2014

As Oil Prices Fall, Who Wins And Who Loses?

Saudi Arabia's oil minister, Ali Al-Naimi, shown in Kuwait last month, has played down the drop in oil prices. The country continues to pump oil at high levels, saying it wants to preserve its market share. But this has also contributed to a 25 percent drop in oil prices since June.
Yasser Al-Zayyat AFP/Getty Images

Originally published on Thu October 16, 2014 1:47 pm

With oil around $85 a barrel and tumbling to its lowest levels in several years, here's the upside: Gasoline prices are down, the U.S. is feeling less dependent on foreign crude, and serious economic pressure is growing on oil producers such as Iran and Russia.

Here's the downside: The low demand for oil reflects a fragile global economy that's vulnerable to additional shocks, like falling stock markets around the world.

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Business
2:43 am
Tue September 16, 2014

With U.S. Oil Supply Climbing, Some Call For End To Export Ban

Pump jacks are seen in an oil field over the Monterey Shale formation near Lost Hills, Calif. Much of the U.S. oil industry wants to lift an export ban that followed the 1970s energy crisis.
David McNew Getty Images

Originally published on Tue September 16, 2014 9:37 am

An oil drilling boom that has made the U.S. the world's leading oil and petroleum product producer has some people urging an end to the four-decade ban on exporting domestic crude.

Some in the oil industry are launching a campaign to lift the ban, and they hope to win over a skeptical public.

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Business
4:13 am
Wed March 26, 2014

German Chemical Giant BASF Benefits From Cheap U.S. Natural Gas

Originally published on Wed March 26, 2014 6:39 am

Thanks to fracking, there is an abundance of natural gas at about a quarter of the European price. This influx of business may be good for the U.S., but it's cause for concern for European leaders.

Business
4:53 pm
Wed January 8, 2014

As Temps Drop, Gas Prices Rise, Along With Demand For Fuel

Propane cylinders sit on the grounds of Blue Rhino, a propane gas company, in Tavares, Fla. In the Midwest, farmers needed more propane for crops that came in later than normal.
Gerardo Mora Getty Images

Originally published on Mon February 10, 2014 3:18 pm

Cold weather this week has boosted demand for heating fuels across the country. Natural gas prices are up, especially in the Northeast. At one point prices for natural gas into New York City jumped nearly tenfold from an average winter price of $5.68 per million BTU to $55.49, according to Bentek Energy, an analytics company.

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