Investors pumped $1.2 billion into catastrophe bonds in the first quarter, betting on a mild hurricane season this summer.» Read More
The author of "the Stern Review" on the economic impact of climate change, Lord Nicholas Stern, talks to CNBC Europe about biofuels and climate change.
In the "You don't say?" file, the U.S. Geological Survey is predicting that California has a "99.7 percent chance" of getting hit by an earthquake of magnitude 6.7 or worse in the next 30 years. This information is used by insurance companies in setting earthquake policy rates.
The weak dollar is the main factor keeping prices at high levels, not the supply of oil, and that situation is likely to continue, current OPEC president Chakib Khelil, who is also Algerian Oil Minister, said on Tuesday.
Are hedge funds and investment banks unfairly driving up fuel costs for families in the U.S. -- or are soaring energy prices the result of a strong global economy and a free financial system? Industry officials are debating the question -- and will present their arguments to CNBC on Thursday.
Continued military tensions between Colombia and its neighbors Venezuela and Ecuador--both OPEC members--are expected to keep upward pressure on oil prices. But analysts say it won't cause a significant spike in crude as long as armed conflict is avoided.
Multinational energy companies are looking at opportunities in Turkmenistan, a country of five million people that borders the Caspian Sea and sits on the world’s fourth or fifth largest reserves of natural gas.
US crude has been flirting with the $100-a barrel milestone for the past month. It got the market excited on Wednesday, when it briefly surged to a lifetime high of $99.29 a barrel, before settling lower. The market clearly wants to hit the benchmark – and will try again next week.
It seems downright unbelievable, but about a year ago, crude oil was trading at $50 a barrel.
Oil prices keep breaking record highs. What does it mean for the economy--and investors? Here's what some of the experts are saying on CNBC.
Cool weather and calm skies helped thousands of firefighters beat back Southern California wildfires Saturday, although flare-ups in some places meant the battle was not yet over.
Insured losses from California wildfires could exceed $1.6 billion if the fires continued tospread, a risk modeling firm said Thursday.
Wildfires continued to burn out of control across Southern California for a third day on Tuesday as 500,000 people fled the San Diego area, and firefighters made a desperate stand to save a mountain town ringed by flames.
The corporate headquarters of Sony Electronics has been closed Tuesday for the second day due to the wildfires ravaging Southern California.
Amid soaring oil prices and ballooning global fuel demand, the Bush Administration is calling on Americans to help conserve energy on a personal level.
There is a group of do-gooders based in St. Louis who hold blood drives and sell t-shirts and generally try to educate people about how best to prepare for disaster. Any disaster. Like, even the ultimate-worst-horrible-oh-my-goodness-I-can't-believe-this-is-happening-to-me kind of disaster. Just would that disaster be? Well, the group is called the Zombie Squad (or ZS), and it claims the worst of the worst is... zombies.
Oil tycoon Boone Pickens told CNBC that the price of crude oil could hit $100 a barrel by next year. “The trend is up, demand is up and supply is flat, so it’s got to go on up,” said Pickens, CEO of BP Capital.
OPEC would likely hold consultations about boosting supply again if the price of oil stayed above $80 a barrel for more than 15-20 days, an OPEC source said on Tuesday.
It’s been a busy week for us in the news industry. Japan’s prime minister resigned and was promptly hospitalized; several big earthquakes hit Indonesia; Hurricane Humberto came out of nowhere, hitting the Texas-Louisiana coast with 85-mph winds; and the news highlighter for my little Commodity Store this week – crude oil prices hitting a record peak, crossing the $80 threshold to settle at $80.20 a barrel in New York on Thursday.
The Organization of Petroleum Exporting Countries (OPEC) will likely keep its official flow of oil steady when its meets Sept. 11 in Vienna, despite concerns that already high prices will spike when winter demand increases.
CNBC Europe's Steve Sedgwick reports from the OPEC meeting in Vienna and has a new idea for making member delegates feel welcome.