Sky’s the limit on Navy’s biofuel focus
U.S. Navy Secretary Ray Mabus has made alternative energy a top priority since taking office in 2009, but this week he took his commitment to new heights, literally.
ISIS oil revenues down by up to 90 percent
Security sources from the ministry of oil said ISIS had been smuggling at least 50 vehicles full of oil every day from oilfields in Qayyarah and Najma. But new offensives against the terrorist organization have reduced the smuggling rate to five vehicles a day.
Ending our oil addiction is crucial to stopping future terror attacks
Our dependence on oil has a sinister side that we tend to lose sight of: Some of that oil we consume — 18 million barrels a day in the United States alone — provides a revenue source for extremist groups to carry out deadly terrorist attacks.
ISIS oil production takes a hit: study
The so-called Islamic State has lost 26 percent of the income it had been generating from the sale of crude oil, according to new research released on Monday.
Saudis moving to reduce dependence on oil money
A top Saudi prince has announced new elements of a plan to reduce the kingdom’s heavy dependence on oil, amid a drop in world prices that has sent shock waves through the Saudi economy.
Oil revenue collapse means ISIS reliant on Gulf funds, inquiry hears
A collapse in oil revenues available to Islamic State is likely to have made it increasingly dependent on donations from wealthy Gulf states and profits from foreign exchange markets, the first UK inquiry into the terror group’s funding has heard.
U.S. Navy leads the charge to break our oil dependence
Of the $1.3 billion the federal government spends fueling its hundreds of thousands vehicles each year, the vast majority — 78 percent — is spent on gasoline. But if the Navy has its way, it may not be that way for much longer.
Oil losses prompt ISIS to cut fighters’ salaries in half
ISIS was making $40 million a month on oil alone in early 2015, according to the U.S. Treasury. Now, it’s making only a fraction of that, according to the State Department.
U.S. voices ‘concerns’ over Saudi Arabia executions
Saudi Arabia remains one of the United States’ most crucial allies in the Middle East, a longstanding relationship built on oil money and national security interests.
Islamic State eyeing oil targets beyond Syria stronghold
Islamic State is looking at potentially vulnerable oil assets in Libya and elsewhere outside its Syria stronghold, where the militant group controls about roughly 80 percent of the oil and gas fields, a senior U.S. official said.
