Now that BP’s jury-rigged contraption to contain its massive Gulf of Mexico oil spew has failed, the company’s only resort is to continue pumping massive amounts of dispersant into the water near the wellhead, in an attempt to – what exactly?
The dispersant goes by the trade name “Corexit.”  It’s supposed to be a pun on [...]

Venice, LA – I’m down at the oil spill on the Gulf of Mexico or what for now is the Gulf of Mexico.  Rick Steiner, a marine conservationist and oil spill expert flew over the gulf Wednesday morning and said, “It’s not the Gulf of Mexico any more. It’s the gulf of oil.”
Rick’s been helping [...]

Maybe those people who gave the green light to invade Iraq really did have a crystal ball. Maybe five years ago they could have foreseen record energy prices and a frenzy about oil supply and demand.
Because amidst all the panic about dwindling supply, one country has actually increased production. Iraq has raised oil exports to [...]

President Susilo Bambang Yudhoyono of Indonesia has said that his country was considering quitting OPEC because it was no longer a net oil exporter.
“Our wells are drying,” he said in a nationally televised speech, adding that the country needed to concentrate on increasing domestic production, which has dropped to less than a million barrels a day [...]

ExxonMobil may have record a whopping $11 billion profit yesterday, but its share still fell nearly 4 per cent as analysts warned that the company might fail to grow at all in the next five years.
The bottom line is the world’s biggest energy group’s oil production fell almost 10 per cent in the first three [...]