oil shale extraction

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Fracking Pioneer Files for Bankruptcy

Chesapeake Energy says it has nearly $9B in debt

(Newser) - Chesapeake Energy, a shale drilling pioneer that helped to turn the US into a global energy powerhouse, has filed for bankruptcy protection. The Oklahoma City-based company said Sunday that it was a necessary decision given its debt, the AP reports. Its debt load is currently nearing $9 billion. It has...

Biggest-Ever US Oil Find Made
Biggest-Ever US Oil Find Made

Biggest-Ever US Oil Find Made

USGS says Texas formation could hold 20B barrels

(Newser) - Things are bigger in Texas, especially oil deposits: The United States Geological Survey announced this week that its assessment of the Wolfcamp formation in West Texas has identified the largest continuous oil and gas deposit ever found in the US, Bloomberg reports. The USGS says the formation holds 20 billion...

West Has Oil That Equals 'World's Proven Reserves'

But GAO official warns Congress about environmental impact

(Newser) - Maybe President Bush should have invaded the Rocky Mountain region instead of Iraq: Turns out that a mostly vacant area of land across Colorado, Utah, and Wyoming has about as much recoverable oil as the world's reserves combined, according to a US official. A government agency "estimates that...

House Report: Fracking Uses 29 Carcinogens

Industry resists disclosure, saying chemicals don't affect people

(Newser) - Hydraulic fracturing blasts at least 29 carcinogens and other hazardous chemicals deep into the earth to break up shale formations and get at oil and natural gas, says a new report released yesterday by House Democrats. Known as fracking, the industry used 780 million gallons of drilling fluids between 2005...

GOP Going 'Green,' With Oil on the Side

Party's newly crafted policy backs renewable energy—plus drilling

(Newser) - An elite group of Republican senators met yesterday to craft an energy policy which the GOP claims is greener than the Democrats' plan, and more likely to control gas prices. Republicans will emphasize conservation—along with more nuclear plants and oil drilling—and have dubbed Barack Obama's opposition to increased...

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