Archive | November, 2010

Crude Prices Jump Following Positive Economic Indicators

Consumer confidence and spending are the keys to an economic recovery. Speculators follow economic indicators for oil-consuming countries to determine if oil will be a good bet. Reports showing growth in Japan’s gross domestic product and an uptick in consumer spending in the United States pushed crude oil prices up as much as 1.1 percent. [...]

Read more

Oil Rises for Second Day in a Row, Tops $83 a Barrel

Speculation that the Federal Reserve would act to stimulate the U.S. economy led oil prices to a two-week high, with crude topping $83 a barrel. Economists surveyed by Bloomberg News believed the Fed would propose a plan to purchase a minimum of $500 billion worth of long-term securities. Data from the beginning of this week [...]

Read more

Cougar Oil and Gas Canada Inc. Launches Multi-Well Drilling Program in Trout Core Area

Modern technology is allowing more detailed analysis of drilling sites, helping oil companies pinpoint the  best potential locations for accessing  oil reserves. Cougar Oil and Gas Canada Incorporated is utilizing high-resolution 3D seismic data to identify five drilling targets in the company’s Trout Core area.  Cougar is pursuing  permits for  a three-well Keg River  light [...]

Read more

BP Alaska’s Aging, Corroded Pipelines Concern Workers

As BP tries to recover from the public relations damage caused by the Horizon oil spill, another potentially dangerous situation has emerged thousands of miles away. An internal maintenance report obtained by ProPublica, an independent investigative journalism group, shows the oil giant gave an “F-rank” score to at least 148 BP pipelines located on the [...]

Read more

A tough economy has most states scrambling for funds, especially for recreational facilities and state parks.

A tough economy has most states scrambling for funds, especially for recreational facilities and state parks. Colorado is exploring the possibility of selling oil and mineral leases on some its public land to help finance the state park system. Government funding is declining, and even though visitation is increasing, the revenue from entrance and camping [...]

Read more

Diesel Shortage Frustrates Transportation and Industry in China

When the Chinese government set energy-saving standards in a comprehensive conservation effort, many factories responded by purchasing diesel-powered generators to offset the power cuts. The increased use of diesel by manufacturers combined with suspected hoarding by oil companies has created a crippling shortage of diesel in China. Analysts suggest that oil suppliers are holding back [...]

Read more