Oil funds: threat or opportunity?
The accumulation of large oil revenues, particularly since the early 2000s, has placed oil exporting countries among the world’s largest sources of capital.
Impact of higher oil, product prices on US economy deepens
There are growing indications that high gasoline and diesel fuel prices are having an increasingly adverse impact on the general US economy, and federal lawmakers have started to respond.
WATCHING GOVERNMENT: Trouble lurks in climate bill
A climate change bill that could reach the US Senate floor in June is already generating its own heat.
US Senate adds renewable energy tax credit to housing bill
The US Senate approved an extension of renewable and alternative energy financial incentives as an amendment to a housing bill, HR 3221, by 88 to 8 votes on Apr. 10.
McCain backs halt of SPR crude purchases
US Sen. John McCain (R-Ariz.), breaking with the administration of President George W. Bush, urged the White House Apr. 10 to stop purchases for the Strategic Petroleum Reserve while oil prices are at record levels.
McCain calls for suspension of federal gasoline tax
US Sen. John McCain (R-Ariz.), the presumed 2008 Republican presidential nominee, called for a suspension of federal gasoline taxes from Memorial Day to Labor Day as an economic improvement measure.
LNG arrives at two new US terminals
Two LNG tankers arriving along the upper Texas Gulf Coast within 5 days of each other are delivering commissioning cargoes for two new LNG terminals, one in Louisiana and one in Texas.
Global offshore drilling spend to reach $80 billion by 2012
Over the next 5-year period to 2012, high oil prices will continue to drive oil and gas industry spending on offshore drilling to a total of $380 billion.
Environmental challenges predominant theme at oil summit
Oil and natural gas exploration and development and its relationship to the environment was a predominant theme at the 9th Annual International Oil Summit Apr. 10 in Paris.
WATCHING THE WORLD: Questions loom over ESPO line
How long have we been hearing about Russia’s East Siberia-Pacific Ocean (ESPO) pipeline project? The debate has been interminable.