Oil prices yo-yoed this week, giving analysts whip lash as they hurried to decide what it all means, and forecast what the future holds. On Wednesday the price of a barrel had fallen to about $48, but by Thursday was back up to $52. And as quickly as some were to determine that prices were rallying, other chimed in to point out that it likely won’t last.
The months-long slide in crude oil prices has resulted in thousands of layoffs in Texas, the nation's top oil-producing state. In second-place North Dakota, however, the burgeoning shale oil and natural gas sector will apparently be spared mass job cuts in the short term.
Even with gas prices hovering around $2 per gallon, Washington state lawmakers are considering a raft of bills to encourage more drivers to turn to electric cars in the name of reducing pollution. Plug-in-and-charge automobiles are gaining popularity in the state. Washington records show there were nearly 12,000 registered electric cars by the end of last year.
The Nuclear Security Council said in a statement that the Vandellos II plant in northeastern Spain shut down automatically at 3 p.m. (1400 gmt) Tuesday after there was electricity line disruption. The council said the incident represented no threat to workers at the plant, the public or the environment.
After a dramatic weekend of clashes between Islamic State (ISIS) fighters and Kurdish forces, an oilfield in Iraq has been left burning and damaged. As of Monday, service from the oilfield was still halted, potentially putting a dent in revenue from the country’s key export.
The rapid increase in domestic oil production in recent years helped fuel a banner year for Texas' economy in 2014. As the price of oil has plummeted to less than half its summer value, however, the industry continues to bear the brunt of job cuts.
The report, titled "America’s Advanced Industries: What They Are, Where They Are, and Why They Matter," analyzed 50 high-technology industries, from aerospace to foundries to pharmaceuticals. Those sectors employed more than 12 million Americans directly and more than one-quarter of all U.S. jobs when indirect positions were factored in.
The new Republican-controlled Congress appeared skeptical of the president's outreach to the heart of the nation's coal country, with Republican Senate Majority Leader Mitch McConnell announcing Monday that he would personally oversee the budget of Obama's Environmental Protection Agency.
The net income figure includes a $5 billion writedown on the value of BP's inventories, after the price of Brent crude, the benchmark for North Sea oil, dropped almost 50 percent last year. BP posted a profit of $1.04 billion in the fourth quarter of 2013.
Gov. John Hickenlooper's task force on oil and gas discussed proposals Monday that would force energy companies to disclose all the chemicals they use in hydraulic fracturing and give local governments more of a say on where wells can be drilled.
A report released by a global research group recommends that governments cease most attempts to bolster bioenergy production, arguing they "undercut efforts to combat climate change and to achieve a sustainable food future."
It's been a rough start to 2015 for safety concerns at pipelines transporting oil, natural gas or their byproducts throughout the country. This week, a pipe in West Virginia became at least the fifth to rupture so far this year, exacerbating concerns about structural weaknesses and lax oversight in the industry.
Critics claim it will disastrously increase the pollution blamed for global warming and put communities along its 1,179-mile route at risk for a damaging spill, all for oil and products that will be exported anyway. Which is it? A check of some of the claims about the pipeline as a bill approving it heads toward likely passage...
Oil accounts for a tiny fraction of electricity for the U.S. as a whole, but it powered more than 70 percent of Hawaii's electrical needs as of late 2013, according to the U.S. Energy Information Administration — and all of it had to cross an ocean to get there.
A thick layer of smog and exhaust was the backdrop for some of President Obama’s recent trip to India. The toxic mix provided a visual reminder of what’s at stake for those hoping to improve air quality in India and reduce the globe’s overall emissions from fossil fuels.
Police chief Art Walgren knew how much the oil boom had changed this once-sleepy town when he spotted something that would have been unheard of not long ago: license plates from Sinaloa, Mexico, home to one of the world's most violent drug cartels.
In a move that shocked many Democrats and environmentalists, the Senate overwhelmingly voted 98-1 on Wednesday to approve an amendment stating that climate change is “real and not a hoax.” Even one of the most notorious global warming deniers, Republican Sen. Jim Inhofe of Oklahoma, signed on to the amendment, which was offered during a debate over the Keystone XL Pipeline bill.
There's been a lot of noise about OPEC's role in the current decline of oil prices — but UAE Energy Minister, Suhail al-Mazrouei says shale producers should be "rational" about their output and that the market may not be suitable for them.
The world burns enough oil-derived fuels to drain an Olympic-sized swimming pool four times every minute. Global consumption has never been higher — and is rising. Yet the price of a barrel of oil has fallen by more than half over the past six months because the globe, experts say, is awash in oil.
The Obama administration laid out designs Wednesday to issue the first regulations to cut down on methane emissions from new natural gas wells, aiming to curb the discharge of a potent greenhouse gas by roughly half. Obama's intention to eventually force industry to cut methane emissions has long been part of his broader strategy on climate change.
Carmaker BMW showed off its vision for charging electric cars at the annual Consumer Electronics Show in Las Vegas. The concept, which the company hopes to have on the market in the near future, is a solar powered carport system capable of generating and storing energy that can power the carmaker's electric vehicles.
In June, when oil cost $107 a barrel, U.S. employers added a healthy number of jobs — 267,000. Now, with oil below $50, hopes are rising that hiring in the United States is poised to intensify. Goldman Sachs forecasts that if oil stays near its current price, the economy will add 300,000 more jobs this year than if the price had remained at its June level.
As he was sworn in for a record fourth term, Gov. Jerry Brown charted an ambitious new goal on Monday for California in its fight against climate change, challenging the nation's most populous state to increase renewable energy use to 50 percent in the next 15 years.
New Mexico regulators began taking testimony Monday on a plan that calls for shutting down part of an aging coal-fired power plant that provides electricity to more than 2 million people in the Southwest. Dozens braved frigid temperatures to talk about asthma, cancer and other health concerns.
Two cities near Kansas City are considering making more use of solar energy, a trend that energy industry experts say is growing in the Midwest as costs to install facilities decline. If plans move forward, the two cities would join a number of Missouri municipalities that have opened solar farms.