The earth's dwindling supply of this major resource is heating up debate all over the globe.http://www.newser.com/2008 - Newseren-usNewser Feed GeneratorTue, 07 Oct 2008 6:43:31 CDThttp://www.newser.com/story/38476/southeastern-gas-shortage-wreaks-havoc.html?refid=rss_all_defaultGas is in short supply throughout the Southeast this week after oil production was hit hard by hurricanes Gustav and Ike, the Washington Post reports. Some didn’t make it to work as gas station lines grew to 60 cars long; half the stations in Atlanta were closed. “I drove past 9 or 10 gasoline stations that were out of gas,” said a Charlotte worker. Two major petroleum pipeline continue to operate well under capacity.http://www.newser.com/story/38476/southeastern-gas-shortage-wreaks-havoc.html?refid=rss_all_defaultFri, 26 Sep 2008 7:16:15 CDThttp://www.newser.com/story/38218/dems-ditch-ban-on-offshore-drilling.html?refid=rss_all_defaultDemocrats are removing a ban on offshore drilling from the budget resolution to avoid a White House veto, Politico reports. The move aims "to take a budget standoff of the table so we can address the larger Bush financial crisis," said a spokesman for House Speaker Nancy Pelos. A GOP leader hailed the "capitulation" as a "victory for Americans struggling with gas gas prices.”http://www.newser.com/story/38218/dems-ditch-ban-on-offshore-drilling.html?refid=rss_all_defaultTue, 23 Sep 2008 21:02:28 CDThttp://www.newser.com/story/38104/bailout-oil-send-dow-down-372.html?refid=rss_all_defaultStocks plummeted today as uncertainty over the cost and long-term impact of the Wall Street bailout plan spread and oil surged, MarketWatch reports. Treasuries and the dollar fell as traders worried the bailout’s cost could affect the government’s status as a borrower. The Dow closed down 372.75, at 11,015.69. The Nasdaq lost 94.92, closing at 2,178.98, and the S&P 500 lost 47.99, closing at 1,207.09.http://www.newser.com/story/38104/bailout-oil-send-dow-down-372.html?refid=rss_all_defaultMon, 22 Sep 2008 15:25:29 CDThttp://www.newser.com/story/38102/oil-surges-record-25barrel.html?refid=rss_all_defaultOil prices rocketed up more than $25 a barrel today, recording the biggest one-day price jump ever as anxiety over the government's $700 billion bailout plan, a weak dollar, and an expiring crude contract ignited a dramatic rally. Light, sweet crude for October delivery jumped as much as $25.45 to $130 a barrel on the New York Mercantile Exchange before falling back to settle at $120.92, up $16.37, the AP reports.http://www.newser.com/story/38102/oil-surges-record-25barrel.html?refid=rss_all_defaultMon, 22 Sep 2008 14:18:22 CDThttp://www.newser.com/story/37689/us-may-seek-worlds-emergency-fuel.html?refid=rss_all_defaultThe Bush administration may ask the International Energy Agency to release emergency fuel stocks into the domestic market to cushion losses from hurricane-battered oil refineries, Reuters reports. Gustav and Ike temporarily closed a dozen Gulf Coast refineries, though all are in "reasonably good shape" according to an official, resulting in daily losses of 1.1 million barrels of gas production and 700,000 barrels of distillate fuel output.http://www.newser.com/story/37689/us-may-seek-worlds-emergency-fuel.html?refid=rss_all_defaultWed, 17 Sep 2008 13:47:57 CDThttp://www.newser.com/story/37614/house-passes-drill-bill.html?refid=rss_all_defaultAn energy bill including a partial lifting of the ban on new offshore drilling has passed the House, reports the Washington Post . The vote split largely along party lines, with most Republicans rejecting the package for not going far enough. The measure would allow new drilling beginning at 50 miles offshore and beyond. Opponents say the limit is too far to exploit most known reserves.http://www.newser.com/story/37614/house-passes-drill-bill.html?refid=rss_all_defaultTue, 16 Sep 2008 22:26:52 CDThttp://www.newser.com/story/37395/why-mccain-longs-for-19th-century-fuels.html?refid=rss_all_defaultWhy are Republicans chanting "drill, baby, drill," a call for an outdated, 19th-century technology like fossil fuels? Because they are turning every political debate into a cultural "wedge Issue," Thomas Friedman writes in the New York Times —"including even energy policy, no matter how stupid it makes the voters and no matter how much it might weaken America."http://www.newser.com/story/37395/why-mccain-longs-for-19th-century-fuels.html?refid=rss_all_defaultSun, 14 Sep 2008 10:29:00 CDThttp://www.newser.com/story/37356/ike-hits-fuel-production-may-cause-shortages.html?refid=rss_all_defaultHurricane Ike’s assault on the Gulf Coast has closed over 19% of US refinery capacity and may hurt delivery nationwide, Bloomberg reports. At least 13 Texas refineries have shut down operations, which may trigger a gasoline shortage in the southern and eastern US—and it may last a while, observers say. “Ike is headed into the heart of the refining industry,” says an energy expert.http://www.newser.com/story/37356/ike-hits-fuel-production-may-cause-shortages.html?refid=rss_all_defaultSat, 13 Sep 2008 8:16:16 CDThttp://www.newser.com/story/37318/oil-dips-below-100-for-first-time-in-5-months.html?refid=rss_all_defaultThe price of crude oil slid briefly under $100 a barrel today for the first time in 5 months, Reuters reports. The development came even as Hurricane Ike bore down on the Texas coast and its many refineries; investors apparently think the slowing world economy will continue to drive down demand. After trading at $99.99, the price ticked back up to $100.27.http://www.newser.com/story/37318/oil-dips-below-100-for-first-time-in-5-months.html?refid=rss_all_defaultFri, 12 Sep 2008 13:01:41 CDT