Energy tycoon Boone Pickens predicted Friday that oil prices would be back near $70 or $80 a barrel by the fourth quarter of this year.» Read More
The boom in new oil and natural gas flowing through U.S. pipelines is beginning to ripple through the wider American economy.
NBC News and CNBC look at the implications US energy independence would have for the economy, other types of energy, foreign policy and the environment.
For many Americans, the improving economy has yet to take hold even as they hear about a stronger stock market and better jobs data.
Homeowners who took on mortgages well after the housing bubble burst are doing a better job in keeping up with payments, a trend that has helped push the national rate of late payments on home loans to the lowest level in four years.
Oil companies at the heart of the US shale oil boom are burning off enough gas to power all the homes in Chicago and Washington combined in a practice causing growing concern about the waste of resources and damage to the environment.
Top U.S. lawmakers voiced rising fear on Sunday that the country would go over "the fiscal cliff" in nine days, and some Republicans charged that was President Barack Obama's goal.
Ralph Rosenberg, KKR, and Tom Rolfstad, Williston, North Dakota, head of economic development, discusses the highlights of a private equity deal to develop housing in Williston, North Dakota.
Shares of Marathon rose nearly 3 percent in afternoon New York Stock Exchange trading. The company reported better-than-expected oil and gas production in the Eagle Ford formation in south Texas and the Bakken shale in North Dakota, according to analysts at Houston based energy investment bank Simmons& Co..
HOUSTON, Nov 6- EOG Resources Inc plans to spend less on ``money-losing'' natural gas drilling next year, which will result in lower capital expenditures, the company's chief executive said Tuesday. EOG is drilling for pricier crude oil in basins including the Eagle Ford in south Texas and the Bakken in North Dakota while slowing natural gas drilling.
VANCOUVER, Nov 4- In this era of pipelines spanning thousands of miles, the idea of shipping crude across North America in railway cars might seem a quaint throwback to the oil pioneering days of the West.
*Profit ex-items $2.55/ share, misses $2.83 analysts' view. Increasing output from the wellhead is a struggle for many big oil companies, including Exxon Mobil Corp and Royal Dutch Shell.
CALGARY, Alberta, Nov 1- Suncor Energy Inc said on Thursday that rising light oil production threatens the profitability of a massive new upgrading facility planned by Canada's dominant oil sands producer as it delayed plans to expand output from the world's third-largest oil reserve.
Nov 1- Exxon Mobil Corp, the world's largest publicly traded oil company, reported a quarterly profit on Thursday that topped expectations, as higher margins from its refining arm countered a 7.5 percent decline in oil and gas output. Earlier this month, Exxon agreed to buy Celtic Exploration Ltd for $2.64 billion.
Nov 1- Exxon Mobil Corp, the world's largest publicly traded oil company, reported a quarterly profit on Thursday that topped expectations, as higher margins from its refining arm countered a 7.5 decline in oil and gas output. Earlier this month, Exxon agreed to buy Celtic Exploration Ltd for $2.64 billion.
HOUSTON, Oct 31- Phillips 66' s increased access to cheaper crude oil from the United States and Canada boosted its quarterly profits above analyst expectations after the U.S. refining company spun off from ConocoPhillips earlier this year, the company reported on Wednesday.
HOUSTON, Oct 31- Increased access to cheaper crude oil from the United States and Canada boosted Phillips 66' s quarterly profits above analyst expectations after the U.S. refining company spun off from ConocoPhillips earlier this year, the company reported on Wednesday.
*Illinois' importing' corn by rail from N.Dakota, Minnesota. CHICAGO, Oct 29- The devastating U.S. drought and ensuing crop disease are upending traditional grain movement patterns, with dozens of trains and barges shipping North Dakota or Mississippi corn into the Corn Belt rather than out to the coasts.
Texas- based oilfield services company Baker Hughes Inc. reported Friday that 1,408 rigs were exploring for oil and 416 were searching for gas. Of the major oil- and gas-producing states, Texas dropped seven rigs and New Mexico fell by 5. Alaska and Oklahoma lost three apiece, and West Virginia was down by two.
RAPID CITY, S.D.-- A Texas- based pipe maker has started construction on a manufacturing plant in Rapid City, South Dakota. WL Plastics Director Mike Dahl says the South Dakota plant will help supply North Dakota's oil industry. WL Plastics also has facilities in Texas, Kentucky, Utah, Wyoming and the Canadian province of Alberta, Canada.
The more than 1 billion pounds of oilfield waste produced this year is roughly weight of the sunflower harvest in North Dakota, which is the nation's top sunflower producer.