oil

We're being duped by Big Oil. The worse part is that governments around the world are working tirelessly to make sure the game is rigged in their favor. That's what Lester Brown, president of the Earth Policy Institute, is saying, and he has the numbers to back the statement up. Estimates from ...

Ah, just what a bunch of V8-starved Americans need to hear. An International Energy Agency (IEA) report released last week says that the combination of weak global economies, increased oil supply from the Americas and better extraction technology will make oil "somewhat less tight over the ...

"The UK's fuel supply has run out and the country is coming apart at the seams... Jared must escape London to reach his wife and child. He siphons the petrol from his own car to prevent it from being stolen, but just as he is getting ready to leave, there is a knock at the door... It's an old ...

Computer hackers have moved beyond the U.S. military to cyber attack another enemy: Big Oil. Recently, hackers hit Saudi Aramco, the world's largest oil producer, and disabled 30,000 of its workstations. A group of "hacktivists" calling themselves Cutting Sword of Justice released a statement on ...

Last week, Mitt Romney released a comprehensive energy plan. While taking a backseat to the economy and job creation, energy issues have been discussed regularly by presidential candidates Romney and Barack Obama, and their viewpoints diverge widely. In its online magazine, conservative think ...

It has always been the habit of the party that doesn't occupy the White House to blame various ills on the party that does. Especially in the past few years when it has come to gas prices, the party-in-waiting has blamed the POTUS for "pain at the pump." We're not taking sides here – ...

Even though we're in the early phase of modern electric cars and sales haven't been as high as some expected, U.S. Energy Secretary Steven Chu continues to promote electric vehicles as a way for the American economy to cut its dependence on increasingly expensive foreign oil, MarketWatch reports. ...

Talk about hedging your bets. Abu Dhabi National Energy (TAQA), which is majority owned by the emirate, netted $113 million from selling its seven percent stake in Tesla Motors recently, Arab News reports. Abu Dhabi, which gets most of its wealth from oil, doubled its investment in the Bay ...

What's next, Tom and Jerry vs. PETA? "The Muppets" characters Kermit the Frog and Miss Piggy are going toe to toe with Fox News after the news organization accused "The Muppets" movie of peddling liberal-backed, anti-oil messages to unsuspecting children. Speaking in a press conference ...

If you think ending the ethanol subsidy puts all fuel sources on an equal footing, think again. While there has been a great deal of vitriol directed toward subsidies for alternative energy and plug-in vehicles, very little has been heard about the ways in which fossil fuels are given a huge ...

Although the Arctic has incredible potential energy resources – the United States Geological Survey (USGS) estimates 90 billion barrels of undiscovered oil and 1,668 trillion cubic feet of undiscovered gas – extracting that fuel will be costly. A calculated and cautious approach to ...

Back in March of 2011, a Valero representative posted this response to a question on a Yahoo! Finance message board:

Quick, name the country certified by OPEC as number one in national oil reserves. Saudi Arabia? No. Canada? Nope. Venezuela? Bing! After redefining as extra-heavy crude a field previously classified as tar, OPEC certified the South American nation of Venezuela as the controller of the world's ...

The American Petroleum Institute (API) reports total petroleum deliveries (a measure of demand) fell by 0.5 percent in July, compared to the same month in 2010. Though miniscule, July marks the first time in 2011 that deliveries actually dropped when compared to the previous month. Perhaps more ...

What global recession? After falling 1.5 percent from 2008 to 2009, global oil consumption soared to an all-time high of 87.4 million barrels per day in 2010, according to the online Vital Signs report published by Worldwatch Institute. The 3.1 percent increase in consumption in 2010 easily makes ...

U.S. oil production peaked in 1970; U.S. oil consumption did not. As a logical result, the importation of oil from other countries has increased over the decades until it accounted for two thirds of the petroleum used in the United States in 2008. However, that rise has not been steady. Several ...

BP's massive oil spill in the Gulf of Mexico last year has moved off the front pages in most of the nation, though the damage done to the environment and economy of the Gulf region is far from repaired. However, at least that spill once had some attention from the nation and the world. In the ...

Houston-based Greenstar Recycling has teamed up with Cleveland-based Vadxx Energy to convert recovered (a.k.a. recycled) plastic into synthetic crude oil. Under terms of this joint venture, Greenstar and Vadxx will work hand-in-hand to provide a domestically manufactured fuel made entirely from ...