Fox Business

Posts by Fox Business

Saudi Oil Minister Welcomes New U.S. Bounty of Oil Supplies

By


Saudi Arabia’s oil minister said on Tuesday he welcomes the new U.S. energy supplies as he expects the country to remain an importer of crude from the Middle East.

The United States is producing oil at the highest level in 20 years thanks to hydraulic fracturing and other advanced drilling techniques. “The United States is and will remain a major energy consumer,” Ali al-Naimi said at a speech at the Center for Strategic and International Studies in Washington.

“Talk of energy independence fails to recognize the interconnected nature of international energy markets. I believe this talk of ending reliance is a naive a rather simplistic view,” he said.

Published April 30, 2013 / Reuters

(Reporting by Timothy Gardner; Editing by Gerald E. McCormick)

 /  Published April 30, 2013 at 11:45 AM

Rise of Nat Gas Prices an Enigma

By


The oddest thing about the meteoric rise in the price of natural gas over the past year might be supplies of the energy commodity have never been more abundant.

That’s not how economics usually works: When supplies go up, the price is supposed to go down, and vice versa. Keep reading →

 /  Published April 25, 2013 at 3:30 PM