crude oil

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Scores Hurt, Missing After Lightning Hits Oil Tank
Cuba Has
Oil Tank Fire
Just About
Under Control

Cuba Has Oil Tank Fire Just About Under Control

Officials expect blaze to burn longer but not spread

(Newser) - Update: After almost five days, crews have brought the oil fire that threatened to further strain Cuba's power supply nearly under control. An official said the fire might continue for a couple of days more but not spread, the AP reports. Once it's out, the oil storage base...

Gas Prices in Every State Reach an Unwelcome Mark

Average has crossed $4 for the first time in all 50 states

(Newser) - There's apparently nowhere for Americans to hide from rising gas prices. For the first time, prices in every state average at least $4 per gallon, AAA data show. The immediate cause is the increasing cost of crude oil, which is almost $110 a barrel globally, per NBC News . AAA...

Abandoned Red Sea Tanker Is Disaster Waiting to Happen

It's on the verge of dumping out four times as much oil as the Exxon Valdez

(Newser) - A ghost ship holding more than a million barrels of crude oil is rotting in the Red Sea. It could just sink. Or it could explode. And if either of those things happens, millions of people will be without water, on top of the environmental devastation, the Guardian reports. It...

Keystone's 2nd Big Spill in 2 Years: 'What's Going On?'

Nearly 400K gallons of crude oil leaked onto half-acre in North Dakota on Tuesday

(Newser) - "Two cracks on a fairly new pipeline—geez, what’s going on?" That's a legitimate question to ask about the Keystone XL pipeline, a safety expert tells the Star Tribune , considering that an apparent rupture in the controversial pipeline Tuesday in North Dakota is the second major one...

A Huge BP Find: 1B Barrels of Crude
A Huge BP Find:
1B Barrels of Crude

A Huge BP Find: 1B Barrels of Crude

Besides the oil find, company is also investing $1.3B in a new expansion process

(Newser) - BP is investing a lot more money into the Gulf of Mexico, and into cutting-edge technology overall—and it looks like that investment is already paying off. CNBC and Reuters report the company just discovered two new oil fields, plus 1 billion barrels of crude oil at its existing Thunder...

Nebraska OKs Keystone Pipeline, With a Catch

Nebraska gives its approval, though it changes the route

(Newser) - President Trump and backers of the controversial Keystone XL oil pipeline can claim a victory: Nebraska on Monday agreed to let the pipeline be laid in the state, clearing the last remaining major regulatory hurdle, reports Politico . A state panel, however, changed the route proposed by pipeline owner TransCanada, moving...

'Dramatic Turnaround' Projected for Gas Prices

Prices projected to be lower July 4 than on Jan. 1

(Newser) - In what USA Today calls a "stunning" moment for analysts, gas prices are projected to be lower on the Fourth of July than they were on New Year's Day. That's the first time consumer data tool GasBuddy has made such a projection in its 17 years (the...

Obama: Go Ahead, Shell, Drill Deeper for That Arctic Oil

Environmentalists lambast decision, saying it will 'worsen climate disruption'

(Newser) - President Obama has disappointed a slew of environmental activists by giving Shell the green light yesterday to drill deeper in the Arctic for oil, Quartz reports. The approval issued by the Bureau of Safety and Environmental Enforcement expands the oil company's current permissions, allowing it to drill even further...

Workers in 'Panic Mode' Over Low Price of Oil

Oil rigs have shut down, leaving well-paid degree-less workers short on options

(Newser) - Countries around the world continue to be impacted in various ways from the oil price crash over the last year, and there's one demographic that's definitely feeling the negative effects: oil workers now out of jobs that were "more or less an economic lottery ticket for an...

Good News for Your Summer Road Trip

Lowest prices in 6 years are predicted—a $2.45-per-gallon average

(Newser) - Not since 2009 have we seen the gas prices that industry experts are expecting this summer driving season—but in a good way. Per a US Energy Department forecast , gas will cost an average of $2.45 for a gallon of regular between April and September, typically the nation's...

Oil Cars Still Burning After W. Va. Derailment

Feds seeking tougher train cars as crude shipments soar

(Newser) - Train cars carrying crude oil were still burning last night, more than 24 hours after a derailment in West Virginia , and the New York Times describes the scene as a grim one, with "the dark plume of smoke visible from many miles away, and a bitter aroma of burning...

Oil Tanker 'Vanishes' With $100M Cargo

Kurdish ship carries crude that may legally belong to Iraq

(Newser) - The US Coast Guard has lost track of a Kurdish tanker carrying $100 million in disputed oil off the coast of Texas, the Independent reports. Headed for Galveston, the United Kalavyrvta was anchored at least 60 miles off-shore when it vanished from radar screens. The ship's haul fell under...

Toll Hits 3 in Train Derailment

 Toll Hits 5 in Train Derailment 

Toll Hits 5 in Train Derailment

Officials believe they'll discover more bodies in Quebec accident

(Newser) - Officials say two more bodies were discovered today after a runaway train carrying crude oil derailed in eastern Quebec, igniting explosions and fires that destroyed a town's center. That brings the confirmed death toll to five. A Quebec provincial police lieutenant said today that fires are preventing rescuers from...

Train With Crude Oil Derails, Explodes

Several missing, 1K evacuated in Quebec town

(Newser) - Train cars carrying crude oil through a small town in Quebec derailed last night, setting off huge explosions that forced the evacuation of 1,000 and left several people missing, reports the CBC . About 30 buildings in the heart of Lac Megantic were destroyed by the explosions and resulting fire,...

Blasts, Fire Rock California Oil Refinery

Residents ordered to stay indoors in SF Bay Area

(Newser) - Explosions tore through a Chevron oil refinery as it erupted in flames yesterday, driving toll takers from the Richmond Bridge and San Francisco Bay Area residents indoors. At least two fires were triggered when a diesel leak exploded at the Richmond refinery, one of the largest in the nation, reports...

Move Over, Keystone: 2 More Pipelines Planned

Calgary-based driller to send oil to Houston-based refinery

(Newser) - 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

Recent posturing has already sent price up 20%

(Newser) - 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...

Geithner Open to Using Oil Reserves
Geithner Open to Using Oil Reserves

Geithner Open to Using Oil Reserves

But warns there's no 'quick fix' to rising gas prices

(Newser) - 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...

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

Tehran says EU's embargo will spike global prices

(Newser) - 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...

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

As easy oil supplies dwindle, project launched along Saudi-Kuwaiti border

(Newser) - 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...

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