Energy

OPEC’s strategy questioned

There’s a new report that shows OPEC’s risky strategy of not cutting production when prices were tumbling may have backfired.

Crude oil on the rise

Jackie DeAngelis explains the move higher in energy.

Will OPEC cut oil production?

Despite concerns of a global supply glut, many investors expect OPEC to maintain current production levels.

Getty Images

The U.S. Environmental Protection Agency said in a Thursday report that it found no evidence fracking has a “widespread” impact on drinking water. The EPA report concluded that there are above and below ground mechanisms by which fracking have the potential to impact drinking water resources, but that the number of identified cases were “small” …

Mark Ralston | AFP | Getty Images
Houseboats are moored on a shrinking arm of the Oroville Lake reservoir which is now at less than 25 percent capacity as a severe drought continues to affect California on May 24, 2015.

Up a winding mountain road in California gold country, hidden by groves of redwood and pine—along with pockets of humanity living off the grid—is a reservoir with the cheapest water in America. For every 100 cubic feet of water—a standard measure that equals 748 gallons—customers pay 42 cents in Oroville, California. (Tweet This) That’s cheaper than …

Getty Images
Low water levels are visible at Lake Oroville near the Bidwell Bar Bridge on May 7, 2015 in Oroville, Calif.

In California, water may be increasingly difficult to come by, but it hasn’t gotten harder to pay for. Californians are being forced to slash their water use as some predict that yet another year of drought could empty the state’s reservoirs. The massive Metropolitan Water District of Southern California (MWD), serving nearly 19 million customers, has …

Luke Sharrett | Bloomberg | Getty Images

Drivers will pay a few more cents per gallon for gasoline this Memorial Day weekend, but that should be the highest prices of the year, experts say. “Generally, we should be peaking now. I don’t personally think we’re going to see this huge crazy drop in gas prices. I think we saw one in 2012 …

Saudis declaring victory

Saudi Arabia says its strategy to squeeze U.S. shale producers is working.

Getty Images
Residents fills buckets with non-potable water from a tank set up in front of the Doyle Colony Fire Station on April 23, 2015 in Porterville, Calif. Private wells here have gone dry.

In drought-parched California, there’s a topic many private landowners remain steadfast about: Water well metering. During normal precipitation years, surface water found in rivers, lakes and reservoirs is ample enough to supply roughly two-thirds of state water used annually. But during more recent dry years, farmers and drillers have been digging deeper for groundwater—precious liquid …

David McNew | Getty Images

The recent rally in oil prices could throw cold water on the economies of countries that consume a lot of crude. But oil producers could finally get a badly needed break. The sharp drop in global oil prices last year had major producers such as Russia and Venezuela scrambling to make up for lost revenue. …

OPEC oil price estimate

According to the Wall Street Journal, OPEC see oil prices staying below $100 a barrel for the next decade.

102629434-462345118.578x276

Saudi Arabia’s new king says he won’t attend a White House summit, as global investors keep a close eye on the U.S.-Saudi relationship, long connected by oil and security.

Getty Images
A floor hand works on an oil rig in the Bakken shale formation outside Watford City, N.D.

In good times, Big Roy Trucking runs 17 trucks to haul water to and from the Bakken oilfields. In the first quarter of this year, the family owned business scaled back to just the 11 trucks it owns. But recently, Big Roy has been able take two of its subcontractors back on, and Trista Rust, …

Exxon’s big earnings beat

Oil’s slide hurt Exxon’s profit, but the company’s results beat forecasts, thanks to a five-fold profit rise in its refining business.

Andrey Rudakov | Bloomberg | Getty Images
An employee looks out over the illuminated petroleum cracking complex at the Lukoil-Nizhegorodnefteorgsintez oil refinery, operated by OAO Lukoil, in Nizhny Novgorod, Russia.

Sanctions against Russia so far seem to be hobbling its longer-term energy projects, but those sanctions may be tougher to maintain if the conflict stretches on indefinitely. U.S. and international industry officials, in Houston for the annual IHS CERAWeek energy conference, say they are complying with sanctions against Russia for its invasion of Ukraine and …