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Oil

Biden's release from petroleum reserve probably won't move gas prices

by Andy Uhler
Nov 23, 2021
They're high because oil producers aren't ramping up supply quickly enough.
Oil producers' “incentives are all aligned to keep prices high," an expert says. "And that is going to create some real pain for consumers.”
Andrew Caballero-Reynolds/AFP via Getty Images
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A Warmer World

Biden administration auctions oil and gas leases on 1.7 million acres of the Gulf of Mexico

by Samantha Fields
Nov 19, 2021
A court ordered the administration to resume the auctions it had suspended.
Drilling of the newly auctioned Gulf of Mexico gas and oil leases likely won't begin for seven to 10 years. Above, a drilling platform off the coast of Texas.
Tom Pennington via Getty Images
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Biden administration considers its options as gas prices rise

by Justin Ho
Nov 18, 2021
Officials are considering releasing oil from the strategic reserve. They’re also pushing the FTC to investigate possible price gouging.
With consumers feeling inflation-fueled pain at the pump, the government has more options than dipping into oil reserves.
Justin Sullivan via Getty Images
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To drill or not to drill, that is the question with oil at $80 a barrel

by Andy Uhler
Oct 11, 2021
So far, big oil companies are in the "not" camp.
As the rally in oil prices continues, independent drillers are expanding their investments in Texas’ Permian Basin, but so far, industry giants are on the sidelines.
Paul Ratje/AFP via Getty Images
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Starting up the gas grill may cost you a bit more this year

by Andy Uhler
Jul 1, 2021
Heating your home too. Propane futures are trading at roughly twice what they were the past two summers and retail prices are up as well.
Elevated propane prices are making cookouts less affordable and might do the same to home heating when the winter comes.
Johannes Simon/Getty Images
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Oil producers look at output levels as demand returns

by Andy Uhler
Jun 30, 2021
OPEC and its allies are scheduled to meet Thursday as oil prices keep rising.
Ryad Kramdi/AFP via Getty Images
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With Keystone XL scrapped, oil companies look for workarounds

by Scott Tong
Jun 10, 2021
Pipelines have met increasing opposition, but persistent demand for crude may help them get approved.
Miles of unused pipe, prepared for the proposed Keystone XL pipeline, sit in a North Dakota lot in 2014.
Andrew Burton/Getty Images
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Searching for meaning in the North Dakota oil boom

by Michael Patrick F. Smith
Feb 16, 2021
In a new book, Michael Patrick F. Smith reflects on his time working on an oil field in North Dakota.
An oil drilling rig in North Dakota in 2013.
Andrew Burton/Getty Images
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Oil drilling bids for Alaskan wildlife refuge expected to be meager

by Scott Tong
Jan 1, 2021
Oil giants are expected to sit out the bidding, which would mean low lease prices and measly royalties for the government.
Native American leaders hold signs against drilling in the Arctic National Wildlife Refuge outside the U.S. Capitol in 2018.
Saul Loeb/AFP via Getty Images
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The name of the game in West Texas oil and gas these days: consolidation

by Andy Uhler
Dec 22, 2020
The Diamondback-QEP deal demonstrates the urge to merge while energy prices are weak.
Rail cars carrying crude oil near Odessa, Texas. Sluggish markets are driving companies to find partners.
Paul Ratje/AFP via Getty Images
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