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Five Stunning Stats About Exxon

January 15, 2015 4:54 pm | by CNNMoney | Videos | Comments

How many Olympic-sized swimming pools does ExxonMobil produce enough oil to fill each day? If ExxonMobile was a country, how big would its economy be? Check out these five incredible facts about the multinational oil and gas corporation.

OPEC: Shale Producers Need to "Learn a Lesson"

January 15, 2015 10:41 am | by Meagan Parrish, Editor, Chem.info | Videos | Comments

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. 

We Burn 2.7 Million Gallons a Minute, so Why's Oil so Cheap?

January 15, 2015 10:03 am | by JONATHAN FAHEY, AP Energy Writer | Articles | Comments

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.  

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The Myth Of America's Manufacturing Renaissance: Q&A With Adams Nager

January 14, 2015 5:01 pm | by Bridget Bergin, Associate Editor, Manufacturing.net | Articles | Comments

According to Nager's January 2015 report, "It is easy to get the impression that American manufacturing has entered a new and exciting period of revival. Many in the media, along with consulting firms and economists, now tout the term 'manufacturing renaissance' to describe this so-called revival...If only that were true." 

Study Finds Elevated Contaminant Levels at Fracking Sites, Conventional Wells

January 14, 2015 4:46 pm | by Andy Szal, Chem.info | News | Comments

A newly released study found water discharged from energy drilling operations in the U.S. poses risks to human health and the environment,calling for additional government regulations on the practices.

Feds Project Lower Crude Prices, Increased Production in 2015

January 13, 2015 4:49 pm | by Andy Szal, Chem.info | News | Comments

Federal officials estimate the prices of crude oil will fall slightly this year compared to late 2014 before rebounding in 2016. The U.S. Energy Information Administration's short-term energy outlook projects the average monthly price of crude on the Brent index at $58 per barrel in 2015, down from the December average of $62 per barrel.

What Do Obama And Auto Executives Think About Low Gas Prices?

January 13, 2015 4:37 pm | by Maura Falk, Associate Editor, Industrial Maintenance & Plant Operations | Articles | Comments

For some, dropping oil prices are a blessing — but the plummet has given oil-industry folks plenty to gripe about. Consumers, meanwhile, have seen the decreasing gas prices as cause for celebration, but are consumers busting out the party supplies to soon?

Huge Waves Crash Against Swaying North Sea Oil Rig

January 13, 2015 9:42 am | by Meagan Parrish, Editor, Chem.info | Videos | Comments

Surf's up on the North Sea, and as this video shows, the waves can be big enough to rough up even a large offshore drilling rig. Filmed by an offshore worker on the nearby platform, (around 145 miles east of Aberdeen, Scotland), this footage captures the stomach-churning awe of large waves crashing into a rig owned by Dolphin Drilling.

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Fill 'er up! A Look at How Much Money Car Owners Are Saving

January 12, 2015 3:03 pm | by Associated Press | Articles | Comments

A plunge in the price of gasoline over the past six months has drastically changed the result of the calculation new car buyers and drivers perform every week: How much is it going to cost me to fill this thing up? The national average price of gasoline Monday was $2.13 a gallon, according to AAA, after falling for a record 109 days in a row. Six months ago it was $3.63 a gallon.

Texas City That Prepared For Oil Boom Now Waits For Bust

January 9, 2015 2:14 pm | by EMILY SCHMALL, Associated Press | News | Comments

Just two years ago, this Texas town known mostly for its annual rattlesnake roundup seemed to be on the brink of a transformation. Expecting a huge influx of oil workers, local leaders spent tens of millions of dollars to improve the courthouse, build a new law-enforcement center and upgrade the hospital. Hotels, truck stops and housing subdivisions were to follow, all catering to truck drivers and roughnecks.

Oil Bust Will Hurt Housing in Texas, Oklahoma, Louisiana

January 9, 2015 12:29 pm | by JOSH BOAK, AP Economics Writer | News | Comments

The oil boom that lifted home prices in Texas, Oklahoma and Louisiana is coming to an end. Crude oil prices have crashed since June, falling by more than 54 percent to less than $50 a barrel. That swift drop has started to cripple job growth in oil country, creating a slow wave that in the years ahead may devastate what has been a thriving real estate market.

Obama Administration Sued Over Gulf of Mexico Fracking Info

January 9, 2015 12:25 pm | by JASON DEAREN, Associated Press | News | Comments

An environmental advocacy group sued the Obama administration in federal court on Thursday for refusing to release documents detailing the extent of fracking in the Gulf of Mexico. Samantha Joye, a marine sciences professor at the University of Georgia who studies effects of oil spills on the sea environment, said there have been no scientific studies looking at fracking chemicals in the ocean.

House Poised to Pass Pipeline Bill as State Court Clears Way

January 9, 2015 12:20 pm | by DINA CAPPIELLO, Associated Press | News | Comments

As House Republicans prepared to pass legislation Friday to authorize construction of the Keystone XL oil pipeline, Nebraska's highest court removed a major obstacle to the project and a major reason behind President Barack Obama's opposition to the bill.

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GasBuddy Releases Fuel Price Outlook For 2015

January 8, 2015 5:27 pm | by Jon Minnick, Associate Editor, Manufacturing Business Technology | News | Comments

With all the talk of falling oil prices and its effect on the global economy, companies and consumers are keeping a close eye on  the fluctuating gas prices. This week, GasBuddy has released its GasBuddy Fuel Price Outlook 2015. The report forecasts monthly gas averages and dives into the factors affecting the prices.

Should The Texan Earthquakes Speed up Regulations Talk?

January 8, 2015 5:20 pm | by Meagan Parrish, Editor, Chem.info | Blogs | Comments

On Monday research published online by the Bulletin of the Seismological Society of America linked March 2014 earthquakes in Poland Township, Ohio to hydraulic fracking. The next day, as if the earth beneath the U.S. wanted to say, “Told you so,” the ground began to rattle Texans in their boots.

California Says Bullet Train Could be Climate Solution

January 8, 2015 9:26 am | by SCOTT SMITH, Associated Press | Articles | Comments

California broke ground on its $68 billion high-speed rail system, promising to combat global warming while whisking travelers between Los Angeles and San Francisco in less than three hours. "We can afford it. In fact, we cannot NOT afford it," said Gov. Jerry Brown.

Keystone Pipeline Odds Remain Long Following Veto Threat

January 7, 2015 5:18 pm | by Andy Szal, Chem.info | News | Comments

Control of the United States Senate changed hands this week, but that appears unlikely to change the fortunes of the controversial Keystone XL pipeline following a veto threat from the White House. Shortly after the introduction of a new Senate bill to authorize construction of the pipeline, White House Press Secretary Josh Earnest said the president would not support the current measure.

Shell, Villagers Agree to $83.5 Million For Huge Oil Spill

January 7, 2015 10:26 am | by MICHELLE FAUL, Associated Press | News | Comments

Oil giant Shell has agreed to pay a Nigerian fishing community 55 million pounds (about $83.5 million) for the worst oil spill in Nigeria, an unprecedented settlement that experts say could open a floodgate of litigation there and abroad.

US Home Prices Coasting Upward

January 6, 2015 10:35 am | by JOSH BOAK, AP Economics Writer | News | Comments

U.S. home values rose at a measured pace in November, a sign that demand remains weak as many buyers have been priced out of the market. The housing market faces an affordability crunch. Many potential buyers were sidelined by double-digit home price gains in 2013, which eclipsed average wage growth of roughly 2 percent.

The Magnetic Wand That Cleans up Oil Spills

January 6, 2015 10:15 am | by Meagan Parrish, Editor, Chem.info | Videos | Comments

You don't have to think hard to imagine why cleaning up an oil spill would be daunting — millions of gallons of oil floating in miles of ocean waters, dispersed by waves, weather and wildlife. The good news is that oil gathers in plumes, and one scientist is working on a way to remove those plumes from the water more efficiently. His secret? Magnets.

US Oil Falls Below $50 For 1st Time Since 2009

January 5, 2015 5:50 pm | by JONATHAN FAHEY, AP Energy Writer | News | Comments

The price of oil plunged again Monday and fell below $50 a barrel for the first time since April 2009 as evidence mounted that the world will be oversupplied with oil this year. The Energy Department estimates the drop in gasoline prices will save U.S. households $550 this year.

How Long Before Oil Prices Recover?

January 5, 2015 10:45 am | by Meagan Parrish, Editor, Chem.info | Videos | Comments

If you work in manufacturing, the free fall of gasoline prices has, in many ways, been a blessing: Feedstock and transportation costs are down, and consumer confidence is swinging way up. But of course, not everyone has been rejoicing. No matter where you fall in this mix of hope and dread, the main question is: How long will it last?

Carmakers Finish Strong in 2014, Are Even Better Days Ahead

January 5, 2015 10:07 am | by TOM KRISHER, AP Auto Writers; DEE-ANN DURBIN, AP Auto Writers | News | Comments

Buoyed by a resurgent economy, holiday sales, cheap gasoline and low interest rates, Americans headed to car dealers in droves last month, pushing full-year sales to what's likely to be the highest level since 2006. Fiat Chrysler, Nissan and Honda all reported strong December and annual U.S. sales early Monday, with Nissan and Honda hitting record numbers for the year.

Meetings Scheduled on Gas Pipeline Through North Carolina

January 5, 2015 9:46 am | by JONATHAN DREW, Associated Press | News | Comments

Energy companies that want to build a natural gas pipeline through several North Carolina counties plan to hold public meetings on the project this week in the state. The proposed Atlantic Coast Pipeline would run 550 miles from West Virginia and Virginia before ending in North Carolina's Robeson County.

Harvest Natural Cancels Deal to Sell Its Venezuela Interests

January 2, 2015 10:12 am | by Associated Press | News | Comments

Harvest Natural Resources cancelled the $275 million sale of its remaining assets in Venezuela after failing to garner approval from country's beleaguered government. Venezuela holds a 60 percent stake in Petroandina, a subsidiary of the Houston oil and gas company.

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