Experts at Britain’s National Health Service (NHS) have found startling evidence that cooking with vegetable oil is dangerous to your health. The researchers found that when cooked the oil releases toxic chemicals that have been […]
Tag: Oil
China has a growing interest in United States energy resources. Yantai Xinchao Industry Co. Ltd., a Chinese investment firm holding company, has signed a letter of intent to purchase oil fields in Texas, which are […]
The United States Could Face A Major Oil Crisis If An Earthquake Hit Oklahoma
If an earthquake were to occur in the small town of Cushing, Oklahoma, it could prove to be disastrous to oil distribution within the United States. The hub located in Cushing is the second largest […]
Banks Heavily Affected By Glencore’s Severe Financial Troubles
Financial firms are extremely concerned about their heavy involvement with struggling commodity trader and mining company Glencore. Banks from across the world have approximately $100 billion invested into the company, and most of its trade […]
Glencore Rebounds After A Major Slump In Share Prices
After a 29% plunge in the value of its shares on Monday, commodities trading firm Glencore has recouped most of its losses. The company, run by billionaire Ivan Glasenberg, rebounded over the past two days, […]
Goldman Calls For $20 A Barrel Oil Due To Weak Demand And Global Oversupply
Due to the consistent decline in oil prices week after week, Wall Street heavyweight Goldman Sachs has had to modify its price forecasts for the commodity as it does not appear that price support is […]
Canada Just Cut Off Vital Water Supplies To Severely Curb Fracking
Canadian fracking firm Nexen had its water use license cancelled by the BC Environmental Appeal Board (BCEA )in a potentially precedent-setting decision. BCEA cited Nexen’s fundamentally flawed science and its failure to consult in good […]
Saudi Arabia Just Invaded Yemen And Oil Prices Are Spiking As A Result
Saudi Arabian ground forces have advanced into northern Yemen in a forceful assault against Houthi Shia militia and forces loyal to ousted president Ali Abdullah Saleh. The news was reported by military and tribal sources […]
Airline Ticket Prices Are The Lowest In Years Thanks To Cheap Oil And Better Airplanes
People have wondered when the dip in oil prices would result in lower airfares and it it seems like it’s happening right now. The airfare wars are back, at least to some extent, according to […]
Oil Drops To Lowest Price Since 2009 Amid Supply Glut And Weak Global Economy
Early Monday, futures for a drum of West Texas Intermediate crude oil dropped below $39 per barrel – a level that has not been seen since 2009. On Friday, oil closed at $40.29. That compares […]
Israel Caught Buying Over $1 Billion Of Oil From Controversial Iraqi Kurds
Three quarters of the oil purchased by Israel in recent months has come from Iraqi Kurdistan according to documents obtained by the media. The Kurds are a controversial group, with their militia’s being deemed terrorists […]
Russian Ruble Drops Even Further As President Putin Scrambles For Options
The Russian ruble plunged 2.3 percent on Monday due to a large drop in oil prices, the country’s principal export. The ruble now sits at a seven-month low, severely complicating president Vladimir Putin’s plans for global aggression. […]
Star Oil Trader Loses Hundreds Of Million On Low Oil Prices
The hedge fund run by oil trading god Andy Hall has gotten hammered by the recent crash in oil prices. Hall’s Astenbeck Capital Management lost a stunning 17% in July. The enormous dive is the […]
Saudi Arabia Forced To Borrow Funds As Low Oil Prices Impact Economy
Saudi Arabia has opened sales of sovereign bonds for the first time in eight years in order to maintain its public spending levels as a result of low oil prices. In the past year the […]
EU Latest To Find Fracking Should Be Banned For Causing Health, Environmental Problems
A new study has found that fracking poses “significant” risks to people’s health and the environment and that the practice should be banned in the EU until reforms are made. It also warned that the […]
Are Pipelines Really Safe? Texas Pipeline Ruptures And Explodes Overnight
While nobody was injured, a natural gas pipeline ruptured in rural South Texas, creating a massive fire that forced the evacuation of nearby homes. The huge blaze could be seen from 20 miles away. The […]
Israel Refuses To Pay Debt Owed To Iran
Israel is taking sanctions to a whole new level by refusing to comply with a Swiss court order that it pay $1.1 billion. The debt dates to before Iran’s 1979 Islamic revolution, for its share […]
The Summer Set To See Cheapest Gasoline In Five Years
While the price of unleaded gasoline has been steadily climbing, drivers could soon begin to see some relief at the pump, just in time for the summer driving season. “Everything points to the notion that […]
ExxonMobil Pipeline Spill Leaks Oil Onto Santa Barbara Beaches
A four-mile-long sheen of oil extended about 50 yards into the waters along Refugio State Beach in Goleta, Tuesday afternoon. Emergency officials and ExxonMobil found the cause to be a ruptured pipeline that was leaking […]
Shell Receives Permission To Drill In Pristine Arctic
In a highly controversial decision global oil giant Royal Dutch Shell won approval from the U.S. Department of Interior to drill for oil in the Arctic in Monday. The approval is not a final permit […]
U.S. Navy Halts Escorts For American Ships Off Iranian Coast
The U.S. Navy halted a mission to accompany American-flagged ships passing through the Strait of Hormuz, the Pentagon announced Wednesday. The move is being interpreted as a sign of reduced tensions in the strategic waterway. […]
Whole Town Evacuated In Latest Oil By Train Accident
New evidence emerged today showing carrying oil by rail, despite industry assurances to the contrary, is incredibly dangerous. A train carrying crude oil derailed and caught fire Wednesday morning, forcing authorities to evacuate the nearby […]
Russian Ships Helping Iran Arm Yemen Rebels
In a development that could escalate tensions in an already volatile region, the Russian navy has been caught aiding Iranian ships attempting to bring arms to the Tehran-backed rebels currently leading an insurgency in Yemen, […]
Why Electric Car Sales Have Tanked Lately
Ford just laid off 700 Michigan plant workers working on small cars and hybrid manufacturing The Detroit News reported yesterday. Specifically, Ford said that it is cutting a shift at its Michigan Assembly Plant where […]
Why Oil Prices Could Stay Low For Years
Oil prices have been rallying lately and there is mounting evidence that oil prices are poised to rebound from a historic bust. – Rig counts hit new lows this week. Baker Hughes says the U.S. […]
Texas Researchers Find Fracking Causing Earth Quakes
Researchers in Texas have found conclusive evidence that hydraulic fracturing (fracking), a controversial process used to extract tough to reach oil and gas, causes earthquakes it was reported Tuesday. A seismology team led by SMU […]
Big Oil Is Losing Its Grip On The Auto Industry
A revolution is coming and so far big oil doesn’t seem to see it coming. Producing oil via fracking has largely been credited with the recent downtrend in oil prices enjoyed by today’s motorists. But […]