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Utah, Colorado rival OPEC oil reserves, lure Chevron, Exxon, Shell
Colorado and Utah have as much oil as Saudi Arabia, Iran, Iraq, Venezuela, Nigeria, Kuwait, Libya, Angola, Algeria, Indonesia, Qatar and the United Arab Emirates combined.
That’s not science fiction, according to Bloomberg News. Trapped in limestone up to 200 feet (61 meters) thick in the two Rocky Mountain states is enough so-called shale oil to [...]
Gold Heads for First Weekly Drop in Three as Crude Oil Declines
Gold headed for its first weekly drop in three as crude oil fell, curbing demand for the precious metal as an inflation hedge.
Gold has declined more than 20 percent from the 26-year high it reached in May as energy prices tumbled on an increase in inventory. Crude oil, gasoline, heating oil, diesel and natural gas [...]
More power shifts to countries with oil reserves
There is more to today’s oil crunch than temporary jolts to supply and demand. What is also roiling the energy world is an enduring shift in the balance of power between the fuel-guzzling West and oil-rich developing countries.
Since World War II, the industrialized world has relied on stable and affordable supplies of crude to fuel [...]
