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Billionaire Oil Executive’s Divorce Could Be Most Expensive of All Time

Billionaire Oil Executive’s Divorce Could Be Most Expensive of All Time

ABC News(NEW YORK) — The man that Forbes calls the 35th richest American is getting divorced, and it could split up control of the nation’s fastest growing oil company and result in a record-breaking settlement.
Harold Hamm, 67, is a self-made m…

Is Afghanistan Buying Iranian Oil with US Funds?

Is Afghanistan Buying Iranian Oil with US Funds?

Comstock/Thinkstock(JERUSALEM) — Afghanistan may be spending U.S. money to purchase fuel from Iran, according to a story in the Israeli newspaper Haaretz.If that’s the case, the U.S. Special Inspector General for Afghanistan Reconstruction (SIGAR) say…

Iranian Oil Exports Continue to Fall

Iranian Oil Exports Continue to Fall

Comstock/Thinkstock(NEW YORK) — There is further evidence that financial sanctions and an embargo on Iranian oil imposed by the U.S. and the European Union are having a crippling effect on Iran’s economy.  The sanctions were imposed to comp…

Oil Drillers Find Massive Deposit in US

Oil Drillers Find Massive Deposit in US

Comstock/Thinkstock(NEW YORK) — Drillers in Utah and Colorado are poking into a massive shale deposit trying to find a way to unlock oil reserves that are so vast they would swamp those of the Organization of the Petroleum Exporting Countries, or OPEC…

Oil Production Could Make US Energy Independent by 2035

Oil Production Could Make US Energy Independent by 2035

Comstock/Thinkstock(NEW YORK) — The news is all good from the International Energy Agency about the United States’ energy future.The agency predicted on Monday that the U.S. will become the top producer of oil globally within five years.Furthermore, A…

Gas Price Drops as Hurricane Sandy Keeps Drivers off Road

Gas Price Drops as Hurricane Sandy Keeps Drivers off Road

Jupiterimages/Thinkstock(WASHINGTON) — The weekly national average gas price fell about 2 cents to $3.57 for a gallon of regular, the Energy Department’s Energy Information Administration reported on Monday, though Hurricane Sandy may affect Eas…

US Oil Production Booming

US Oil Production Booming

Comstock/Thinkstock(NEW YORK) — A boom in domestic oil production over the past four years has enabled the U.S. to move up to second place behind Saudi Arabia in the list of the world’s leading oil producers and it likely won’t be long before America …

Iran Now Threatening to Cut Off All Oil Exports

Iran Now Threatening to Cut Off All Oil Exports

iStockphoto/Thinkstock(TEHRAN, Iran) — Iran warned the international community that if sanctions tighten further over its rogue nuclear program, Tehran will be left with no choice but to stop all oil exports.If that happens, Iranian Oil Minister Rosta…

Gas Prices Fall Again

Gas Prices Fall Again

Jupiterimages/Thinkstock(WASHINGTON) — Gas prices are working their way down again.
The weekly average price of a gallon of regular gas is $3.82, down three cents compared to a week ago, according to the Department of Energy.  This price is still…

No Gas Price Relief in Sight for Motorists

No Gas Price Relief in Sight for Motorists

Jupiterimages/Thinkstock(NEW YORK) — The global thirst for oil may be good news for drillers and refiners, but it’s hard on U.S. motorists. Despite a recent drop in the price of West Texas Intermediate crude, and growing U.S. oil production, gas…

Battle for the Arctic: Oil Drilling Still Faces Environmental Concerns

Battle for the Arctic: Oil Drilling Still Faces Environmental Concerns

iStockphoto/Thinkstock(NEW YORK) — The bottom of the Chukchi Sea, off Alaska’s north shore, is one of the most hotly contested places under the sea.It is here that Shell Oil, Co., is looking for oil and Greenpeace is trying to stop them.The oil giant …

Average Price of Gas Down 5 Cents

Average Price of Gas Down 5 Cents

Jupiterimages/Thinkstock(WASHINGTON) — The much-anticipated gas price drop is here. The weekly average price of a gallon of regular gas is $3.83, down five cents compared to a week ago, according to the Department of Energy.  This price is s…

Are Lower Gas Prices Finally on the Way?

Are Lower Gas Prices Finally on the Way?

iStockphoto/Thinkstock(NEW YORK) — Oil prices have been sharply lower this week, down about seven percent since Friday. In New York trading Wednesday, oil settled at $91.98, down $3.31 for the day. The recent run-up in the price of oil may h…

Gas Up 3 Cents; Odd Price Drop in Oil Markets

Gas Up 3 Cents; Odd Price Drop in Oil Markets

Jupiterimages/Thinkstock(WASHINGTON) — The weekly average price of a gallon of regular gas is $3.88, up three cents compared to a week ago, according to the U.S. Department of Energy.  This price is up 28 cents from a year ago.Gas prices are stil…

Gas Up 3 Cents; Odd Price Drop in Oil Markets

Gas Up 3 Cents; Odd Price Drop in Oil Markets

Jupiterimages/Thinkstock(WASHINGTON) — The weekly average price of a gallon of regular gas is $3.88, up three cents compared to a week ago, according to the U.S. Department of Energy.  This price is up 28 cents from a year ago.Gas prices are stil…

Gas Prices Inch Higher — But Biggest Price Hikes of 2012 Likely Behind Us

Gas Prices Inch Higher — But Biggest Price Hikes of 2012 Likely Behind Us

Jupiterimages/Thinkstock(WASHINGTON) — The weekly average price of a gallon of regular gasoline is $3.84, up nearly seven cents from a week ago, according to the U.S. Department of Energy, and up 17 cents from a year ago.Prices have inched up in recen…

Tropical Storm Isaac Could Hike Up Gas Prices

Tropical Storm Isaac Could Hike Up Gas Prices

Jupiterimages/Thinkstock(NEW YORK) — The giant storm now moving over the Gulf of Mexico could have a direct impact on consumers’ wallets — pushing up the price of gas.Energy companies are scrambling ahead of Tropical Storm Isaac, evacuating workers f…

Dow and Apple Up, Facebook Hits Another New Low

Dow and Apple Up, Facebook Hits Another New Low

Hemera/Thinkstock(NEW YORK) — Friday turned out to be another rough day for some internet stocks. Facebook shares fell to a new low at half its original market value, while the social deals company Groupon closed down Friday more than three-quarters o…

Sticker Shock Returns at Gas Stations

Sticker Shock Returns at Gas Stations

Jupiterimages/Thinkstock(NEW YORK) — Pain at the pump is back. The national average retail price of regular gasoline surged nearly 14 cents a gallon to $3.64 a gallon, and the Energy Information Administration says average prices are at their highest …

Sudan and South Sudan Strike Deal on Oil Fees

Sudan and South Sudan Strike Deal on Oil Fees

SIMON MAINA/AFP/GettyImages(WASHINGTON) — The Obama administration Saturday lauded an oil revenue deal between Sudan and South Sudan. The two former civil war foes came to an agreement Friday on fees for landlocked South Sudan to export its oil throug…

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