Goldman Sachs: Lower oil prices to cause loss of $1 trillion, many projects ‘unprofitable’
The global oil industry will face a loss of $1 trillion as producers will be forced to cancel a number of key projects if oil prices stay below $60, says Goldman Sachs. Tuesday’s Brent crude trading at $59.9 More...
President Obama cornered on Keystone Pipeline, Dem Mary Landrieu calls for vote
Democrats may still be reeling from the midterm election results and now President Obama will face immediate pressure to move ahead on the Keystone Pipeline. Democratic Sen. Mary Landrieu sees the writing on the More...
Pipefitters and plumbers union join Keystone pipeline supporters and hail new State dept report
A new U.S. State Department report is the latest evidence that the long-delayed Keystone XL oil pipeline from Canada should be approved, supporters say. Monday a union representing pipefitters and plumbers has written More...
Gas prices soaring, plenty of blame to go around
Drivers are seeing a 30 cent increase in gas prices over the last week. September 2010 photo/Daniel Christensen A gas refinery explosion in Toledo a few days ago, a spike in crude oil price and a slowdown on production More...
Saudi Arabia reduced oil output in May
A report from Dubai claims the world’s top oil exporter Saudi Arabia pumped 9.8 million barrels per day (bpd) of crude oil in May, an industry source said on Saturday, a reduction of 300,000 bpd from April. Photo/Tech More...
