The secretary of state and former head of ExxonMobil says he will be at the 2020 World Petroleum Congress in Houston “in some capacity, one way or another."
Many of the oil services companies employed when new fields are developed have been laying off workers, and oil companies have been taking write-downs of their assets.
The story of how the oil company ConocoPhillips overcame years of resistance from courts, native Alaskans, environmental groups and several federal agencies reveals the truth about how Washington really works.
While most oil-company executives continue to insist that a turnaround is sure to occur in the near future, some analysts are beginning to wonder if oil's diminished profitability doesn’t actually signal a fundamental transformation of the industry.
As ice melts in the Arctic, there are conflicting views on whether exploiting new oil and gas reserves will be commercially viable. The future of this pristine environment may depend more on the price of fuel than anything else.
Thanks to the dreaded sequester cuts, the nation's habitat will take a sizable hit as the development of clean energy is set back and 8,400 meat inspectors are furloughed. The oil industry, however, emerges as a victor as it gets to keep its billions of dollars in taxpayer subsidies while the EPA sees its funding for monitoring and cleanup reduced, Mother Jones reports.
U.S. District Judge Carl Barbier, who will ultimately put a price tag on the worst oil spill in American history if the many lawsuits against BP go to trial, has given the oil giant and its many, many plaintiffs another week to reach a settlement.
This year was a game-changer, and what we need is a game-changer list. On that kind of list, I would drop one-off sensations, beginning with the oil spill, the Haitian earthquake and the mine rescue. No. 1 would be WikiLeaks.
Attorney General Eric Holder says the government is going after nine companies involved with the Deepwater Horizon spill "for government removal costs, economic losses and environmental damages without limitation" (more).
Three of four tests showed that the cement mixture used by Halliburton in the construction of BP's ill-fated oil well in the Gulf was unstable, but the mixture was used anyway, a presidential commission investigating the disaster has found. The only successful test, which BP did not know about, has since come under suspicion.