crude oil news stories on Newser

Move Over, Keystone: 2 More Pipelines Planned

Kevin Spak — Tue, 27 Mar 2012 09:39:45 CDT

The Keystone XL pipeline may be mired in politics, but take heart, pipeline lovers: With Canadian crude oil production soaring, Houston-based Enterprise Products Partners and Calgary-based Enbridge hope to build two new pipelines to pump it to US refineries, the Wall Street Journal reports. The companies intend to build a...

Iran Tensions Could Mean $5 Gas

Kevin Spak — Thu, 01 Mar 2012 08:57:12 CST

Going to war with Iran would be an expensive proposition for America's drivers. Tensions over the country's nuclear ambitions have already pushed crude oil prices up 20% to a record winter high, energy experts tell the New York Times . That's translated to an average $3.73 per gallon at pumps...

Geithner Open to Using Oil Reserves

Kevin Spak — Fri, 24 Feb 2012 14:17:22 CST

The Obama administration is open to using the strategic petroleum reserve if necessary to deal with rising gas prices, Timothy Geithner said in a CNBC interview, though he didn't sound terribly enthusiastic about the prospect, and warned that there was "no quick fix" to the problem. Gas prices are up...

Iran: Hey, Wanna See Oil Hit $150 a Barrel?

Polly Davis Doig — Sun, 29 Jan 2012 09:49:07 CST

Iran is getting ready to vote today on banning oil sales to the EU —you know, before the EU can enact an embargo on aforementioned oil —and Tehran is engaging in some typical sabre-rattling, with the head of Iran's state oil company predicting global crude prices will head into the...

In Mideast Desert, a Risky, Costly Hunt for Heavy Crude

Kevin Spak — Tue, 24 May 2011 10:10:12 CDT

Saudi Arabia and Kuwait have embarked on a risky, expensive hunt for heavy crude—and that might be a bad sign for global oil supplies. For decades these countries have fueled the world with its easy-to-drill light oil supply, but now those reserves are drying up, one Middle East energy...

Gas Prices Expected to ... Drop

John Johnson — Sun, 08 May 2011 12:13:05 CDT

It looks like gas prices will start heading down for once. Both AP and the New York Times quote experts saying the price has probably peaked and will begin ticking downward from the national average of just under $4. Skeptics can look to oil prices, which dropped below $100 a...

Trump: I Wish I Didn't Have to Consider Presidential Run

Evann Gastaldo — Sun, 17 Apr 2011 11:44:05 CDT

Donald Trump was quite the braggart on CNN’s State of the Union today. Highlights from Politico: Trump is better than Romney : “Mitt Romney is a basically small-business guy, if you really think about it,” Trump said , adding that he is “much bigger than this man and have a much, much...

Atlantic Oil Spill Coats Endangered Penguins

Nick McMaster — Tue, 22 Mar 2011 18:21:40 CDT

An oil spill has covered thousands of endangered penguins in crude after a cargo ship ran aground on an island in the South Atlantic, the AP reports. The MS Olivia of Malta broke into two pieces after it hit Nightingale Island in the Tristan da Cunha chain. Its 1,650...

Just in Time for Christmas: $3 Gallons of Gas

aarontco — Sun, 05 Dec 2010 23:01:05 CST

The price at the pump edged up 3.9 cents in the last two weeks to an average of $2.91 per gallon, according to the latest Lundberg Survey, which sampled gas prices at 2,500 filling stations across the US. That's 28 cents higher than it was last December....