The oil drilling technique known as hydraulic fracturing, or "fracking," is under federal scrutiny this week. The oil industry says reversing the process could add big fees and hinder exploration. Sam Eaton reports.
The average price of a gallon of gas has shot up by about a dollar since January. But a new Saudi Arabian oil field is just one big reason consumers won't see prices climb any higher this season. Steve Henn reports.
Oil minister Ali Naimi says that global demand for crude is picking up, but analysts say we're not seeing much higher consumption, just higher storage. Stephen Beard reports prices could drop if world oil storage runs out.
The U.S. has been vocal about oil lately with the prices recently rising. Steve Chiotakis talks to Carola Hoyos, chief financial correspondent for The Financial Times, about the effort to keep gas prices low so an economic recovery can take hold.
Gas prices may be rising steadily, but vacationers are still driven to travel this Memorial Day weekend. Jeremy Hobson reports oil prices won't get much worse, and cost per gallon may actually go down this summer.
The Obama administration is making fuel-efficiency regulations tougher. Commentator Paul Kedrosky says these reforms don't make much economic sense and offers an alternative to get more efficient cars built.
Traders may be counting on the demand for crude to recover as the global downturn bottoms out. But a huge surplus of crude may keep oil prices under pressure. Stephen Beard reports.
U.S. demand for oil has been low for the past few months. But with the price of a barrel of crude near $60, what will that mean for gas prices? Jennifer Collins reports.
