Chevron Corp.'s net income fell 4.5 percent in the first quarter as oil prices fell and refinery output fell.Chevron, the second largest U.S. oil company, has seen better profit margins than the other energy majors in recent years because a big part of its production mix is oil, which has been fetching high prices. Rivals, like Exxon Mobil, produce more natural gas in the...
(29 days ago)
The issue:Every president since Richard Nixon has pushed to cut U.S. dependence on imported oil, and President Barack Obama is no exception. Now, though, for the first time in 30 years, oil imports are falling in a significant way.New drilling technologies perfected in the last several years have unlocked enormous domestic reserves of crude oil and natural gas. Policies that...
(1 month and 16 days ago)
DES MOINES GAS PRICES: Gasoline prices began rising to $3.49 at stations in Des Moines Friday, a 30-cents per gallon increase over a month ago and reflecting a $10 per barrel rise in the price of crude oil since mid-December.Gas Prices Map: Find the lowest gas prices in your neighborhood
(3 months and 16 days ago)
NEW YORK (AP) - Oil prices plunged for a second day Thursday, raising hopes that a relentless rise in gasoline prices may slow or reverse at least temporarily. U.S. benchmark crude oil fell …>
(3 months and 2 days ago)
Filed under: Energy, Market NewsGetty Images China could soon overtake the U.S. as the biggest importer of oil in the world. The oil cartel OPEC says the shift could happen as early as next year. The reason is that the shale oil boom here at home has dramatically increased domestic production, reducing the need to import as much oil as we have been for the past several...
(1 month and 19 days ago)
Filed under: Investing Oil prices have moved around quite a bit of late, and the price of U.S. benchmark crude oil has even dipped below $90 a barrel. Lower oil prices are great for consumers, and they're one reason we might actually be able to afford gas this summer. However, not everyone likes to see the price of oil move lower, and it's pretty obvious that oil producers...
(20 days ago)
Does the news that 2m homes will be heated by US shale imports within five years suggest the UK is running out of gas?Is the UK running out of gas?Not quite yet. The UK has moved in the past decade from being a net exporter to a net importer of gas, as North Sea fields have been depleted. The pains of that transition are being felt acutely now, because the coldest March for...
(2 months and 2 days ago)
Oil-refinery woes in the Midwest are hitting Colorado, causing gas prices to jump in the last week, according to industry experts.Colorado has seen about a 14 cent increase in gasoline prices because of four oil refineries that saw a reduction in output, said Gregg Laskoski, a senior petroleum analyst for GasBuddy.com, a website that...
(2 days ago)
Proposed rules by the EPA could affect gas prices. CNN's Brooke Baldwin reports.
(1 month and 25 days ago)
Gas prices aren't high enough to prompt drillers to switch from oil to gas.
(1 month and 2 days ago)
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