U.S. consumer demand for gasoline high
With gasoline prices still below what they were last year, U.S. consumer demand moved higher by about 2 percent, an industry report said. In its monthly market report for May, Continue Reading
Houston facing recessionary strains from low oil price
Lingering strains for a weak oil economy means the Texas city of Houston may be on the brink of recession, a report from a federal reserve bank said. Houston hosts Continue Reading
It’s the first new U.S. nuclear reactor in decades. And climate change has made that a very big deal.
In an immaculate control room at the Watts Bar nuclear plant, green bars flash on a large screen, signaling something that has not happened in the United States in two Continue Reading
Oregon Looks To Ban Crude-Oil-Only Trains Following Derailment And Fire
Oil Train Derails Oregon transportation officials are now calling for a halt of Union Pacific trains after a derailment on the third of June. Eleven cars from a 96-car train Continue Reading
NASA electric research plane designated the X-57, nickname: “Maxwell”; SCEPTOR
NASA will test new propulsion technology using an experimental airplane now designated the X-57 and nicknamed “Maxwell.” The X-57 features 14 electric motors turning propellers, all of them integrated into Continue Reading
Baker Hughes: U.S. Oil Drillers add Rigs for Third Week In A Row
U.S. drillers this week added oil rigs for a third week in a row for the first time since August, according to a closely followed report on Friday, as producers Continue Reading
Increased Oil Competition: Survival of the Fittest
Is the U.S. shale oil industry in trouble? No, it is engaged in a high-stakes competition for market share. As oil flooded the market in 2014-15, prices dropped dramatically and Continue Reading
Recession in Russia is more or less over, Putin says
Even though oil prices remain low compared with 2014 levels, the Russian economy has adapted and is on the path toward growth, the president said. “We are essentially out of Continue Reading
Lukoil to consider spinning off Europe downstream assets, focus on drilling
Russia’s Lukoil may consider spinning off or selling its downstream assets in Europe to focus on exploration both in Russia and abroad, Chief Executive Vagit Alekperov told Reuters in an Continue Reading
Russia hasn’t dropped idea of new gas route to south Europe: Putin
Russia still wants a new pipeline route to export gas to southern Europe despite the cancellation of the South Stream gas project, President Vladimir Putin said on Friday. Putin said Continue Reading