Would the U.S. ever consider selling the Hoover Dam, all the gold in Fort Knox, or the naming rights to the Grand Canyon? That may depend on how desperate it is to balance the budget. It certainly wouldn't be the first time a nation has considered selling its national treasures. Our partner, 24/7 Wall St, examined nine U.S. assets whose auction could take a bite out of the deficit.
Petroleo Brasileiro, a Brazilian state-run energy company, has raised $70 billion in the world's largest initial public offering.
The news of a fire on Vermillion, a Mariner Energy-owned oil-rig platform in the Gulf, drew instant comparisons with the Deepwater Horizon rig that exploded in April and caused the huge BP oil spill. But stark differences exist between the two incidents.
Senate Democrats may introduce an energy bill this week to improve safety on offshore oil-drilling rigs and to convert trucks to run on natural gas. Majority Leader Harry Reid may unveil the bill as early as today.
Does BP's selling of several legacy assets mean the beginning of the end for the oil giant? No, says one observer. It frees up cash for oil-spill cleanup and gives Apache assets not connected to the politically toxic world of offshore drilling.
The Obama administration issued a revised moratorium on offshore drilling Monday that's no longer based on drilling depth. The new edict supersedes a previous ban that called for a blanket offshore deepwater drilling moratorium.
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.