Obama to seek new tax on oil in budget proposal
U.S. President Barack Obama will propose a $10-a-barrel fee on oil in his budget plan next week, as the White House seeks to boost the nation’s investments in clean transportation Continue Reading
Phillips 66 says California rail project critical to crude supply
Phillips 66 says a long-proposed crude-by-rail project at one of its California refineries is more critical to supply because of the extended shutdown of an oil pipeline that ruptured last Continue Reading
U.S. oil, gas industry sheds 100,000 jobs in slump: Kemp
The number of people employed in oil and gas extraction and support activities across the United States has fallen by around 100,000 since October 2014. Between October 2014 and November Continue Reading
The Bakken Bust Hits North Dakota Hard
It’s a buyer’s market in Dickinson, N.D. For most of the past decade, North Dakota has been the economic envy of every state in America. It posted the lowest jobless Continue Reading
Big Oil Opts for Payouts Over Debt Rating
The world’s biggest energy companies have a tough decision to make amid languishing oil prices: Do they keep their coveted investment-grade credit ratings or maintain century-old practices of paying shareholders Continue Reading
Statoil cuts spending to prepare for rebound
Norwegian energy company Statoil said Thursday it was cutting spending for the year in an effort to position its portfolio for growth once the market recovers. The company outlined a Continue Reading
Oil Rout Threatens Vicious Cycle for Economy
With oil hovering at $30 a barrel and gasoline below $2 a gallon, the pleasure of lower fuel prices is turning painful for more of the U.S. economy. The problem Continue Reading
If There Is a Recession in 2016, This Is How It Will Happen
More and more news headlines and stock market analysts’ reports have started predicting , or at least insinuating , that a recession could be near in the United States. I’ve Continue Reading
Porter Ranch gas leak begins taking big toll on small business
On a recent afternoon at King TaeKwonDo , in one of the many shopping centers dotting this sprawling suburb north of Los Angeles, only seven young children were attending the Continue Reading
After rapid growth, U.S. energy MLPs running out of road
Investment vehicles that funneled more than $100 billion into U.S. pipelines, storage and other facilities during the shale boom now face an existential crisis after oil tumbled so low that Continue Reading