U.S. oil rig count falls to lowest level since June 2010
The U.S. oil rig count fell by 10 to 545 last week, for a third period in a row, according to oil driller Baker Hughes. That’s the lowest tally since the week of June 4, 2010.
Archive for month: December, 2015
Canceled projects could draw down 19 million daily oil barrels
Blindsided by a brutal downturn, oil companies have scuttled plans for scores of costly energy projects in an industry-wide retreat that could wipe out 19 million barrels from the world’s daily regimen of hydrocarbons over the next few years, a new report says.
OPEC internal report warns oil prices to remain depressed
An internal OPEC document written to prepare a crucial meeting Friday warns oil prices will remain under pressure in the near future while markets would remain oversupplied even if the cartel cut its production.
How cheap crude stalled America’s booming oil trains
It was a record year for oil train mishaps—and the year crude-by-rail hit the brakes.
Tesla wins back some acclaim with Car and Driver listing
Tesla is shrugging off its downgrade from Consumer Reports, as the Model S has been named one of Car and Driver magazine’s 10 best cars of 2016.
Is Big Oil the new Big Tobacco?
Activists have been urging investors for years to pull money out of the fossil-fuel producers blamed for much of the world’s warming. Joe Camel’s new role shows the movement has an even broader target: not just the industry’s money, but its reputation.
British airstrikes hit Islamic State oil fields, aim to deal ‘real blow’
British warplanes hit oil fields that help finance the activities of the Islamic State in Britain’s first airstrikes following a vote in Parliament that authorized military action in Syria, its defense secretary said Thursday.
ISIS promise of statehood falling far short, ex-residents say
As its smuggling and oil businesses have faltered, the Islamic State has fallen back on ever-increasing taxes and tolls imposed on its squeezed citizens.
Emissions scandal crushes Volkswagen sales in November
Volkswagen’s emissions scandal crushed the brand’s U.S. sales in November, despite heavy discounts and a strong month for the overall auto industry.
The terrible, bloody toll of oil
For thousands of years, there was a commodity that people across the globe, from China to Rome to Texas, fought bloody conflicts to secure. A product that was used to pay solders and decided the outcomes of wars. No, I’m not talking about gold — I’m talking about salt.
