opec

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 ...

If there's one repeated refrain we hear about the high price of advanced lithium batteries that are needed for the mass adoption of pure electric cars, it's that economies of scale will one day make the packs reasonably affordable. This seems a likely scenario, but is it inevitable? A paragraph in ...

As summertime approaches, so do rising fuel prices. This time around, the price hikes are tied to rising world oil prices. When gas prices dropped from peaks of over $4 per gallon last summer to under $2 at the end of the year, world-wide demand reductions resulting from the financial collapse were ...

After a meeting which saw a decision by the Organization of Petroleum Exporting Countries (OPEC) to leave current production levels in place rather than cutting them to maintain higher prices, a top-level member of the organization has said that they have done their part for the world's economy and ...

Getting used to cheap gas prices? Experts have been warning that they are not going to last and the Organization of Petroleum Exporting Countries (OPEC) is doing its part to prop 'em back up. Today, OPEC unleashed a plan to drastically cut oil production by an astounding 2.2 million barrels per day ...

Saudi Aramco's core area in Dhahran cityThe world's insatiable demand for petroleum is about to cause more drilling and pumping in Saudi Arabia, as the country is set to begin setting up shop on the Khurais oil field. A ten-billion dollar investment will be made which is expected to allow the ...

OPEC president Chakib Khelil believes that the already staggering price for a barrel of oil could continue to rise. Citing the low value of the U.S. dollar, Khelil says that investors are likely to continue to place their bets on oil, a necessary commodity. With current prices hovering around $120 ...

Earlier this year when we spoke to Dr. David Cole, one of the risks that he mentioned of relying solely on fuel economy standards as a way to reduce oil consumption was the threat of oil prices dropping. If nothing is done to help create demand for more efficient vehicles, lower oil prices could ...

Well, this bit of news will probably leave some people feeling shaken, not stirred. OPEC has announced that the group has set up a committee to look into how the weak U.S. dollar is affecting the cartel's earnings and to figure out if trading oil using a "currency basket" (a concept I just learned ...

Recently, I have found myself driving in stop/go/crawl traffic at least 4 days a week. Of course, this now-frequent activity coincides with the current 40 cent hike in gas prices we are suffering thru right now. My 8-year old ride drinks heavily in this style of driving and I don't like spending ...