A CSX Corp. train carrying crude oil derailed in downtown Lynchburg, Virginia on Wednesday. Approximately 12 to 14 tanker cars were involved in the accident, with several of the cars bursting into flames, dumping oil into the James River.
A train derailment in the Canadian province of Saskatchewan has lead to an oil spill. Five cars carrying oil derailed near the town of Jansen but just one spilled oil. The amount spilled was 575 barrels of Western crude.
The US State Department released its "Draft Supplemental Environmental Impact Statement" on the XL Keystone pipeline. The report finds that denial or approval of the pipeline is unlikely to significantly impact the rate of development of the oil sands
Oil prices hit a two-and-a-half year high on Thursday, but pulled back late in the session. Brent crude closed at $111.36, up 11 cents while West Texas crude, the US benchmark, closed at $97.28, down 82 cents.
The International Energy Agency (IEA) has released its World Energy Outlook 2010, forecasting energy use, production, investment and trading into 2035. The Agency has zeroed in on greenhouse gas emissions.
A team of scientists based at the Royal Institute of Technology in Sweden have made a "revolutionary" discovery about how hydrocarbon is formed, learning that animal and plant fossils are not necessary to form crude oil.
As the price of crude oil drops, the price at the pumps keeps on going up and up. In my mind, it has become official: We are being totally ripped off and I want to know what are you going to do about it.
Not surprisingly, oil prices have once again reached an all time high. Just over the weekend crude oil prices rose $2.44, from $83.69 to $86.13. Crude oil production continues to fall while the demand rises - not a good combination.
An AP analysis and a Pew Research Center poll found in October find.
The Pew Research Center is a nonpartisan "fact tank" based in Washington, DC, that provides information on the issues, attitudes and trends shaping the USA and the world.