Fatin Birol is the chief economist at the International Energy Agency. This week, Birol warns that increasing price of oil could send economic recovery efforts into a tailspin.
A new survey shows oil companies plan to increase spending more than 11 percent next year. And despite the Gulf oil spill, companies plan to spend even more on deepwater drilling. Stephen Beard has more.
Russian oil tycoon Mikhail Khodorkosky will stay behind bars. A judge this morning found him guilty of stealing millions of tons of oil. Peter van Dyk explains.
Gasoline prices are rising all across the U.S., and some are worried that consumers may begin to rein in their spending as a result, and bring the improving economy down again. John Dimsdale reports.