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Stories Tagged as

Oil industry

How the 1973 oil embargo changed the way the U.S. thinks about energy

by Henry Epp
Sep 21, 2023
50 years ago this fall, Arab members of OPEC cut off their oil exports to the United States.
Above, an oil pumpjack in California. Then-President Richard Nixon, in a 1973 speech addressing the oil embargo, expressed the need for U.S. energy independence.
Frederic J. Brown/AFP via Getty Images
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Oil refiners have added capacity. That should reduce the risk of sticker shock at the gas pump.

by Lily Jamali
Jun 29, 2023
Last year's price spike was largely the result of a shortage of refining capacity.
Capacity at oil refineries seems to be going up.
Patrick T. Fallon/AFP via Getty Images
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Oil demand is steady, but now OPEC+ is cutting supply

by Justin Ho
Apr 3, 2023
The economies of China, the U.S. and Europe will all be affected by the cartel's move to boost energy prices.
An oil tanker delivers crude to a Chinese port. China’s been increasing its oil demand, but that may not offset a potential slowdown in the West, according to Sara Vakshouri of SVB Energy.
STR/AFP via Getty Images
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The benchmark for determining global crude oil prices is changing

by Lily Jamali
Mar 31, 2023
Dated Brent, used to set the price of most of the world's oil, will include supplies from Texas for the first time.
West Texas Intermediate crude oil has the qualities needed for an update of the Brent index. Above, storage tanks in Midland, Texas.
Joe Raedle/Getty Images
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Oil prices are plummeting as the banking crisis unfolds

by Lily Jamali
Mar 21, 2023
Trouble in the banking sector is scrambling expectations of how much oil the global economy needs right now.
Oil pumpjacks stand in the Inglewood Oil Field on in Los Angeles, California.
Mario Tama/Getty Images
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War and oil profits mean more investment in fossil fuels — and green energy

by David Brancaccio and Jarrett Dang
Feb 24, 2023
Oil giants are going to invest in more oil while also preparing for a greener future, says The Economist's Vijay Vaitheeswaran.
David McNew/Getty Images
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There's a new website publishing news stories in Texas. It's run by Chevron.

by Andy Uhler and Alex Schroeder
Aug 22, 2022
Chevron has been upfront about producing the site, but there are concerns it may be the only source of news for some in the area.
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Texas oil and gas industry should temper its job-creation claims, report says

by Andy Uhler
Jul 19, 2022
There’s been a hiring uptick, but "we're only about halfway" to pre-COVID employment numbers, the author of the IEEFA report says.
In the early part of the pandemic, the Texas oil and gas industry shed 20% of its workforce.
Joe Raedle/Getty Images
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How do we calculate supply and demand for oil heading into the future?

by Andy Uhler
Jun 15, 2022
There are a lot of variables that make predicting energy demand in 2023 difficult, including rising interest rates, inflation and potential COVID flare-ups.
President Biden recently demanded big oil companies bring down gas and diesel prices. Above, gas stations in Bethesda, Maryland, earlier this year.
Mandel Ngan/AFP via Getty Images
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A Warmer World

Oil execs ponder a future without oil as they gather in Houston

by Andy Uhler
Dec 7, 2021
We won't stop using fossil fuels right away, but the transition to renewable energy could be tricky.
A poster of an offshore drilling station at the World Petroleum Congress, where the oil industry is discussing its role in the future of energy.
Brandon Bell via Getty Images
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