oil

Peak Oil Is Here, IEA Whistleblowers Say

Michael Santo — Tue, 10 Nov 2009 10:58:36 -0600

"Peak Oil," which is when the supply and production of oil peaks and then drops off slowly, has already been reached, according to two International Energy Agency (IEA) whistleblowers. These two spoke to the Guardian on condition of anonymity, with some alarming information.

BP Announces Major Ocean Oil Discovery

Michael Santo — Wed, 02 Sep 2009 15:03:17 -0500

BP announced a massive oil discovery on Wednesday, in deepwater Gulf of Mexico. The company said it drilled to a total depth of approximately 35,055 feet and found oil.

Leaked Oil Industry Memo Points to Fake Grassroots Campaign

Michael Santo — Fri, 21 Aug 2009 15:33:35 -0500

A leaked memo obtained by Greenpeace reveals the American Petroleum Institute (API) is asking oil companies to recruit employees, retirees and contractors to take part in rallies against climate change legislation.

Fill Up Now: Gas Prices Likely To Rise Again As Oil Surges

Jesse Slome — Mon, 03 Aug 2009 09:30:59 -0500

The cost for crude oil rose above $71 a barrel today for the first time in a month as increasing industrial activity bolstered consumer and business optimism that fuel demand will rebound. As a result, expect to shortly be paying more at the gas pump.

Chevron Profit Dives Due to Recession

Michael Santo — Fri, 31 Jul 2009 12:37:11 -0500

Chevron Corp., the nation's second-largest oil company after Exxon-Mobil, saw its biggest decline in profit since 2002 in its latest financial results. The culprit is the recession, which has spurred a record drop in crude prices.

For Fiftieth Consecutive Day, Gasoline Prices Rise

Michael Santo — Wed, 17 Jun 2009 10:21:32 -0500

Gasoline prices continued to rise on Wednesday, as many analysts expressed concerns that a continued rise could derail a recovery from the recession. This is the longest continued upsurge in records dating to 1996, although benchmark crude fell for the fourth straight day.

OPEC Holds The Line On Production

Charles Sherry — Thu, 28 May 2009 11:39:02 -0500

OPEC decided to hold output unchanged at its meeting in Vienna amid signs that the global economy is near a bottom and demand may stabilize. The decision comes as no surprise to analysts since crude prices have rebounded to $65 per barrel, and the dark clouds that had been hanging over oil-producing nations have lifted.

Exxon-Mobil Tops 2009 Fortune 500 List

Michael Santo — Sun, 19 Apr 2009 17:22:19 -0500

Despite a huge drop in oil prices because of the global recession, Exxon Mobile is now tops on the Fortune 500, toppling Wal-Mart in the 2009 Fortune 500 list. Wal-Mart had held the top spot for 7 straight years.

Drill Here, Drill Now? Nope. Offshore Drilling Plan Derailed

Michael Santo — Tue, 10 Feb 2009 15:10:07 -0600

On Tuesday, the Interior Department set aside a Bush-era draft plan would have allowed drilling off the Atlantic and Pacific coasts.

Oil, Gas Prices Plummet as Economy Sours

Michael Santo — Fri, 05 Dec 2008 18:21:58 -0600

One look at current economic data would send most people into fits. But there's one piece of information that is actually good news: oil and gas prices continue to plummet, with gas now well into the sub-$2 range.

House Democrats to Let Offshore Drilling Ban Expire

Michael Santo — Wed, 24 Sep 2008 09:38:04 -0500

Rather than continue to fight to get some sort of different offshore drilling bill through both the House and Senate, and past a promised Presidential veto, the House has decided to let a more-than-25-year-old ban on offshore drilling expire next week. The measure had required renewal, and this will effectively end the ban on Oct. 1st.

Greener antiwear additive for engine oils

harminka — Thu, 24 Jul 2008 08:31:23 -0500

Titanium, a protean element with applications from pigments to aerospace alloys, could get a new role as an environmentally friendly additive for automotive oil, thanks to work by materials scientists from Afton Chemical Corporation (Richmond, Va.) and the National Institute of Standards and Technology (NIST).