3 Reasons Oil Prices Are Headed Higher in 2012
Americans have grown used to oil at $100 a barrel and paying more than $3 per gallon for gas at the pump. But don't get too comfy -- the price of filling up is probably going up in 2012.
deepwater drilling
U.S. Approves First Deepwater Drilling Permit in Gulf Since BP Oil Spill
The U.S. has approved the first permit to resume deepwater drilling in the Gulf of Mexico since the BP oil spill a year ago. The Noble Energy project, 70 miles southeast of Venice, La., is slated to be deeper than the blown out BP well.
Why Oil Services Stocks Are Starting to Get Hot
As rapid economic growth and a population boom take place in the developing world, oil will play an increasingly vital role, no matter what its drawbacks. That puts the likes of Schlumberger, Weatherford and Baker Hughes in a sweet spot.
Rig Fire Shows Gulf Oil Spill's Lessons Are Being Ignored
No one died in the second major Gulf of Mexico oil rig mishap this year, and the fire aboard the Mariner Energy platform didn't lead to a spill. But that doesn't make it a win for America: More like a wake-up call that safety is still being given short shrift by the oil industry.
Second Oil Rig Explosion Reopens Drilling Ban Debate
Another oil rig explosion in the Gulf of Mexico Thursday gave fresh urgency to the debate over the Obama administration's moratorium on deepwater oil drilling. Environmental groups renewed their calls to maintain or expand the ban; advocates for removing it were more circumspect.
Noble to Acquire Frontier Drilling in a $2.16 Billion Deal
Noble is looking to strike it rich with a $2.16 billion acquisition of FDR Holdings, also known as Frontier Drilling. Noble, an offshore drilling contractor, is seeking to expand its footprint in the mid- and deepwater drilling zones.
Judge Feldman Rejects Appeal of His Ruling on Gulf Drilling Ban
Two days after rescinding an Obama administration moratorium on new deepwater oil drilling in the Gulf of Mexico, a district court judge again rebuffs the government's attempts to ban drilling.
BP's CEO Should Get No Pay This Year
BP CEO Tony "I'd like my life back" Hayward should cough up his 2009 compensation -- awarded for hitting safety and cost-reduction targets -- and be paid nothing this year. And the oil giant's board should go for failing to manage Hayward and hold him accountable.