oil

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 ...

All the top executives in the auto industry tell me that oil supplies will only get tighter this decade. They predict that fuel prices will do nothing but go up. And they say customers will be ...

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 ...

In early May of 2011, the national average price of gasoline in the United States hit exactly $4 a gallon before falling to the current level of $3.56. However, if predictions from Barron's hold true, then prices will shoot back up in early 2012, hitting $4.50 by next spring. Barron's, America's ...

The Organization of Petroleum Exporting Countries (aka OPEC) is looking forward to a record-setting 2011. Due to oil prices that have hovered around the $110-per-barrel mark, OPEC is projected to rake in some $1 trillion in revenues this year. While them OPEC nations and oil giants profit, some ...

The Center for Investigative Reporting has put together an interesting video explaining the true cost of gasoline to the American public. While gas may have dropped to below $4 a gallon in recent weeks, the video explains that ...

This may sound surprising, but Saudi Prince Al-Waleed bin Talal has gone on record saying he wants the price of oil to decrease. Why's that you ask? It's all about the long-term game, says the Saudi Royal Family's stock market and real estate magnate. In a recent interview with "CNN's Fareed ...

Energy industry executives expect continued volatility in the price-per-barrel of oil for the remainder of 2011, with 64 percent predicting that crude prices will exceed $121 per barrel, according to results from the 9th Annual Energy Survey conducted by the KPMG Global Energy Institute. In this ...

As expected, a Democratic bill that would have put an end to the multi-billion-dollar annual tax subsidies for oil companies Chevron, Shell, BP, ConocoPhillips and Exxon Mobil failed to overcome a Republican filibuster on Tuesday evening. The heavily partisan 52-in-favor, 48-against vote, fell ...