oil drilling

Big Oil Reacts to Obama's 'Discriminatory' Proposals

The American Petroleum Institute is taking issue with the president's State of the Union demand to end subsidies and tax breaks for oil producers. While Obama didn't say just which subsidies he'd cut, the industry isn't waiting for specifics to defend itself.

Obama Temporarily Bans Some New Offshore Drilling

The Obama administration will temporarily ban the sale of new offshore oil drilling leases in the eastern Gulf of Mexico and off the Atlantic coast, Interior Department Secretary Ken Salazar said Wednesday, a policy change made in response to lessons learned from BP's horrific Deepwater Horizon oil spill.

Will Peruvian Politics Shake Mining and Energy Investments?

Political upsets in Peruvian regional elections could indicate a national shift to the left -- and some business leaders worry that could discourage foreign investment in the country, which has rich natural resources such as oil, gas and gold.

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.