Tag: Oil


A U.S. startup company says it has developed a technology to convert plastic waste into a highly refined, low-sulphur oil, an innovation company officials say could provide a domestic source of fuel and keep untold amounts of plastic out of Read more…


ConocoPhillips Company is an American-based multinational energy corporation that has their headquarters in Houston, Texas. It is the fifth largest private sector energy corporation around the globe.


The European Union says crude oil extracted from Alberta’s tar sands should be ranked as a dirtier fuel source than oil tapped from conventional oil wells, a move that could effectively ban the import of the controversial oil. The European Read more…


Muammar Gadhaffi’s 42 year-old regime is in its death rattle – maybe today, maybe tomorrow, his administration that has ruled Libya with a quixotic and brutal hand is about to pass, in Trotsky’s piquant phrase, “into the dustbin of history,” Read more…


After burning through five energy ministers, President Rafael Correa was finally able to pass the petroleum reform that replaces a production-sharing model with a flat rate per barrel produced payment scheme. The oil of Ecuador now belongs to the Ecuadorian Read more…


(Reuters) – A reduction of ten percent in oil demand could knock about $20 off the price of a barrel of crude by 2035 if nations meet their climate change pledges and cut fossil fuel subsidies, the International Energy Agency Read more…


The amount of food wasted each year by Americans represents the energy equivalent of 350 million barrels of oil, or about 2 percent of the nation’s annual energy consumption, according to a new study. Researchers at the University of Texas say it ta…


America’s military should wean itself off oil by 2040 in order to end the high vulnerability of its fuel supply to attack and price spikes, according to a new report. The U.S. Department of Defense currently relies on petroleum for about 77 percent o…


(Reuters) Here is an explanation of how a relief well works, as explained by industry and academic experts as well as Kent Wells, BP’s senior vice president of exploration and production. * A relief well provides access to a blown-out Read more…


What you don’t know will hurt you. That’s the message in Michael Lewis’ new book, “The Big Short,” which traces today’s worldwide economic downturn to a single problem: the secretive nature of prices in the subprime mortgage bond markets. What’s Read more…


The EPA may experiment with using containment booms made out of mushrooms to break down oil gushing from the Gulf, according to a leading mushroom scientist. Paul Stamets, a pioneering mycologist, said he had been contacted “at the highest levels Read more…


The oil industry’s decommissioning costs will dwarf those of nuclear power. The money being made now should be put aside to meet them. Has BP ever made a profit? The question looks daft. The oil company posted profits of $26 Read more…


(Reuters) – The Obama administration plans to announce on Thursday a suspension of offshore oil drilling in the Arctic until 2011 as a result of the Gulf of Mexico oil spill, an Alaska senator said. Democratic Senator Mark Begich said Read more…


Imagine paying over $300 for a gallon of gas. That was essentially what Exxon was paying in 1989 when their oil tanker, Valdez, split open and released over 10 million gallons of oil into Prince William Sound, Alaska. The cleanup Read more…

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