MIAMI— One of the most prolific oil and gas basins on the planet sits just off Cuba's northwest coast, and the thaw in relations with the United States is giving rise to hopes that Cuba can now get in on the action. As a result, Cuba produces just 55,000 barrels of oil per day. Cuba needs 155,000 barrels per day, and it fills the gap with oil from Venezuela, part of a trade...» Read More
The push for an auto industry bailout gained momentum as House Speaker Nancy Pelosi said she would bring the House back next week to approve "emergency and limited financial assistance" for the battered industry.
The automotive industry is pushing for an emergency government loan of at least $25 billion to fend off a cash crunch. This so-called bridge loan would be in addition to a $25 billion loan Congress approved in September for the industry. CNBC asked the insiders to weigh in.
General Motors' extremely distressed debt is an attractive investment as the automaker has several options to improve its liquidity and survive the economic downturn, according to credit analysts at JPMorgan.
The US government and mortgage industry are launching the most sweeping effort yet to help troubled homeowners by speeding up the process for renegotiating hundreds of thousands of delinquent loans held by Fannie Mae and Freddie Mac.
Oil should be above $70 a barrel to encourage investment in increased production capacity and avoid creating future supply crises, Qatar's oil minister said on Monday.
Ford Motor's need for government assistance will depend on how rapidly the economy decelerates, but the company is not in immediate need of immediate help, CEO Alan Mulally told CNBC.
Democrats won a number of key seats in building a larger and more formidable majority in Congress.
Energy was a major issue in the U.S. presidential campaign after high gasoline prices added to consumer woes this year and candidates pledged to reduce America's dependence on foreign oil. Here is a look at the energy plan of President-elect Barack Obama.
Lower gas prices could provide a lift to what are otherwise predicted to be dismal U.S. holiday sales, but experts say it will take some time for consumers to feel confident enough about the troubled economy to resume spending.
U.S. oil demand in August was 975,000 barrels per day less than previously estimated and down 1.758 million bpd from a year earlier, with petroleum consumption at the lowest level for any month since December 2001, the Energy Information Administration said on Thursday.
The green revolution has ground to a halt with the collapse in oil prices, right? Don't bet on it.
Daniel Tishman, Tishman Construction chairman and CEO, shared his outlook for the industry on CNBC's Squawk Box this morning.
A fast and furious as the crude oil market selloff has been, it's far from over, says one expert.
Oil and gas companies are retrofitting drilling rigs with pollution controls and taking other steps in an effort to avoid violating federal air pollution standards in southwest Wyoming this coming winter.
California’s energy-efficiency policies created nearly 1.5 million jobs from 1977 to 2007, while eliminating fewer than 25,000, according to a study.
Most U.S. spot natural gas rose Thursday for the first time in five trading days, with gas at benchmark Henry Hub in Louisiana climbing from Thursday's lowest level in nearly a year amid stronger gas futures and concerns about continued shut in Gulf of Mexico production.
At least 49 offshore oil platforms, all with production of less than 1,000 barrels a day, were destroyed by Hurricane Ike as it raced across the Gulf of Mexico, and some may not be rebuilt, the Interior Department said Thursday.
Oil prices, which plunged nearly $6 on Monday as the Wall Street crisis rattled investors, is likely to continue falling even more, experts say.
Two oil rigs broke loose from their moorings in the Gulf of Mexico during Hurricane Ike, CNBC has learned Saturday.
Home to abundant oil reserves, Russia rarely worried about where the next barrel would come from—until now.