An oil depot, or fuel farm, is seen from the air over Carson, California, February 16, 2012.
These are good times to be a diversified oil and gas company. Keep reading →
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We will never sell or share your information without your consent. See our privacy policy.Newt Gingrich Urges Keystone Pipeline Approval, Drilling Expansion To Lower Gas Prices
By Peter Gardett
Newt Gingrich is attempting to revive his faltering campaign for president by attacking President Barack Obama’s energy policy. In a column in the conservative blog Human Events Wednesday, the former House speaker urged the approval of the Keystone XL pipeline project, the expansion of domestic oil and gas drilling, and the elimination of the Environmental Protection Agency, in order to help drive gas prices down to $2.50 per gallon. “The Obama administration’s ideological refusal to expand American energy production continues to block the development of resources which could lower gasoline prices dramatically,” Gingrich wrote. “As we saw most recently with the administration’s rejection of the Keystone XL pipeline, the president is more interested in playing favorites with environmental extremists rather than embracing the ‘all-of-the-above’ strategy that could achieve energy independence and help all Americans now.”
The U.S. manufacturing industry is growing at its fastest pace in a decade. One reason? #natgas production http://bit.ly/ycErLi
By Peter GardettThe US manufacturing industry is growing at its fastest pace in a decade. One reason? #natgas production http://bit.ly/ycErLi exxonmobil
A trader at the New York Stock Exchange.
Getting investors into the shale revolution in the US energy sector has been a difficult task at a time when natural gas prices themselves are low and individual firms are shifting their focus. Keep reading →
UN Secretary General Ban Ki-Moon last month referred to Abu Dhabi as “becoming justifiably renowned as a hub for progress” regarding clean energy.
Abu Dhabi? Hub of the Middle East and home to one of the most oil-rich regions of the world? Keep reading →
President Requests $650.8 Million for Fossil Energy Programs http://go.usa.gov/Qmq fossilenergygov
Many of the most highly rated mutual funds sought solace and safety in conservative large-company stocks last year as the European sovereign debt crisis dragged on. Morningstar, the mutual-fund and stock-rating firm, regularly tracks the top holdings and portfolio changes of 26 of its highly rated funds run by veteran managers, including Donald Yacktman’s Yacktman Fund, Bruce Berkowitz’s Fairholme Fund, William Browne’s Tweedy, Browne Value and Warren Buffett’s Berkshire Hathaway, a holding company. Morningstar comes up with a short list of the most widely held stocks of the 26 funds and then whittles it down using its own stock ratings to end up with a portfolio of 10 stocks for what it calls the “ultimate stock pickers.” See full article from DailyFinance: http://srph.it/A1dhbo
Brazilian state-run energy giant Petroleo Brasileiro, or Petrobras, is expected to report a year-on-year decline in fourth quarter profits as it bought costlier fuel from abroad to feed strong domestic demand in Latin America’s largest economy. Petrobras is expected to post a net profit of 9.5 billion Brazilian reais ($6 billion) in the fourth quarter, down 10% from BRL10.6 billion in the same period of 2010, according to the median estimate of seven analysts polled by Dow Jones Newswires. Earnings before interest, taxes, depreciation and amortization, or Ebitda, were pegged at BRL17 billion on revenues of BRL66 billion. The firm has had to increase imports of expensive gasoline and diesel fuel as Brazil’s booming economy boosts consumption, although higher domestic fuel prices and a jump in domestic crude oil production is expected to soften the blow.
The possible permanent closure of three eastern Pennsylvania refineries would make the region more dependent on outside sources for petroleum products and force marketers to overhaul supply chains for gasoline, diesel heating oil, jet fuel and lubricants, state legislators heard on Monday.
But closure isn’t likely to have a big effect on prices or supply on the US East Coast because alternative sources such as the Gulf Coast, higher overseas imports and increased pipeline shipments from the Midwest will be found, according to a new study presented to lawmakers. Keep reading →
The looming bottleneck for Canadian oil sands crude isn’t getting into the US, it’s getting out of the Midwest.
A panel of energy experts told the Senate Energy and Natural Resources Committee January 31 in Washington, DC that Canadian oil producers won’t run out of pipeline capacity to ship additional crude across the US border until about 2019. Keep reading →
