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TUESDAY, NOVEMBER 24, 2009
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NEWS ABOUT: Big Oil

Big Oil stories: 11 news summaries

Big Oil Blows Off Obama's Clean-Energy Push

Firms say alternatives won't replace oil anytime soon

Apr 8, 09 8:18 AM CDT
(Newser) - As the Obama administration seeks to spearhead a $150 million clean-energy overhaul, oil firms are conspicuously not getting on board—they're staying on the sidelines and, in many cases, betting against it, the New York Times reports. Shell is freezing its development work on wind, solar and hydrogen power, after... More »

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oil • alternative energy • clean energy • Exxon Mobil • Big Oil • Obama administration

(Newser) - In times like these, everyone’s got problems. Exxon and Chevron? Finding safe places to stash $40 billion they stockpiled while oil prices were stratospheric last summer. “The biggest challenge we’ve had is making sure all the cash is there every morning,” Exxon’s CEO tells Bloomberg,... More »

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Exxon • Chevron • oil price • Exxon Mobil • Big Oil • cash • credit default swap

 Fat Cat Exxon Primed to Deal 

Behemoth stood still when oil hit record highs, now has $40B for buying spree

Jan 12, 09 10:22 AM CST
(Newser) - Flush with cash after resisting costly acquisitions while oil prices hit record highs, Exxon Mobil could be ready for a shopping spree that could alter the face of the world’s energy supply, reports the Wall Street Journal. The company has nearly $37 billion in reserves and could target another... More »

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Brazil • mergers and acquisitions • Royal Dutch Shell • oil companies • Rex Tillerson • Exxon Mobil • Big Oil • oil prices

Global Demand for Oil Expected to Plummet

Consumption will drop in consecutive years; first time in 3 decades

Dec 9, 08 6:03 PM CST
(Newser) - The price of oil continued its descent today, settling at $42.07 a barrel amid new signs of collapsing demand worldwide, the Financial Times reports. Global consumption will shrink by 50,000 barrels a day in 2008 and by a whopping 450,000 barrels a day in 2009, the Energy... More »

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OPEC • energy costs • Big Oil • oil prices • oil demand

$100 Oil Will Return Soon Enough: Study

Price will rebound with economy, likely to hit $200 a barrel in 2030

Nov 6, 08 10:53 AM CST
(Newser) - If today’s price of $60 per barrel of oil seems too good to be true, that’s because it is. Oil prices will rebound to $100 a barrel once the economy recovers, and climb toward $200 by 2030, the market’s most comprehensive review predicts. Output is declining at... More »

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oil • Saudi Arabia • oil price • predictions • oil supply • $100 a barrel oil • oil companies • Big Oil

PR Blitz Aside, Big Oil Drilled Consumers for Stockholders

As demand drops, companies shelve plans to explore—among moves that benefit shareholders, not consumers

Oct 28, 08 12:43 PM CDT
(Newser) - Despite public-relations campaigns designed to make consumers think otherwise, big oil companies remain firmly tied to doing what’s best for their stockholders and bottom line, the Los Angeles Times reports. Though demand has outstripped production, companies spend more on stock buybacks than supply-boosting exploration. But, one analyst notes, “... More »

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shareholders • gas prices • alternative fuels • Royal Dutch Shell • oil companies • Exxon Mobil • Big Oil

Judge Sends Stevens Jury Home, May Declare Mistrial

Prosecutors withheld FBI reports on witness

Oct 2, 08 11:34 AM CDT
(Newser) - A federal judge sent the jury in Ted Stevens’ Washington corruption trial home today as he considers declaring a mistrial for the Alaska senator, the AP reports. Stevens’ lawyers claimed that prosecutors attempted to withhold FBI reports about the government’s key witness, former oil exec Bill Allen, that they... More »

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Alaska • corruption • Ted Stevens • jury • Bill Allen • mistrial • Veco • prosecutors • corruption charges • Big Oil

OPINION

As Alaska Melts, Palin Plays Big Oil Denial Game

Would-be veep as big an industry stooge as Cheney, says RFK Jr

Sep 24, 08 10:13 AM CDT
(Newser) - Alaska is melting, but Sarah Palin doesn’t believe man’s to blame. Then again, McCain’s VP pick is also skeptical about evolution, “which is like not believing in gravity,” writes Robert F. Kennedy Jr in the LA Times. Kennedy recalls his childhood, when Virginia... More »

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Alaska • Election 2008 • Sarah Palin • oil industry • Big Oil • McCain-Palin • Robert F. Kennedy Jr.

ANALYSIS

Why Alaska
Isn't Like Any Other State

'Frontier mentality' leaves openings for politicians like Palin

Sep 4, 08 11:55 AM CDT
(Newser) - Alaska, with its short history as a state and its independent spirit, continues to earn its nickname as America’s “last frontier.” But it’s the state’s oil revenues, corruption, and very local politics that enabled Sarah Palin to thrive, the New York Times reports. And... More »

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Alaska • Ted Stevens • governor • federal spending • Sarah Palin • Big Oil

 Alaska's Joan of
 Arc Won Hearts
 in Ethics Battles

Hockey mom has seen her opponents crumble during short career

Aug 30, 08 8:39 PM CDT
(Newser) - Republican whistleblower Sarah Palin surged into politics as Alaska's Joan of Arc, daring to battle corporate interests over oil taxes and a natural gas pipeline. She won both fights and made powerful enemies—but the ethics at the heart of her straight-talking politics sparked a blaze of admiration among voters,... More »

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John McCain • Alaska • governor • Sarah Palin • vice presidential candidate • Big Oil

 Exxon to Sell US Gas Stations 

But private distributors will continue to use the company's name, products

Jun 13, 08 4:48 AM CDT
(AP) - Exxon Mobil is getting out of the retail gasoline business, following other major oil companies who've been selling their low-margin stations to gasoline distributors. The world's biggest publicly traded oil company plans to sell to distributors its remaining 820 company-owned stations and another 1,400 outlets operated by dealers. The... More »

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gas prices • crude oil • gas stations • Exxon Mobil • National Association of Convenience Stores • Big Oil

11 Stories


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