Archive | November, 2011

BP Sells More Oil Fields

Months after its spill in the Gulf, BP PLC continued to trim its worldwide portfolio. Recently, BP announced the sale of its share in a dwindling deep-water oil field in the Gulf of Mexico to Stone Energy Corp. for $204 million. BP’s original plan was to shed assets by accumulating $30 billion to fund costs […]

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Oil Prices Drop to $98 per Barrel

On Friday, oil prices dropped to $98 a barrel, which ended a week of volatility coinciding with Europe’s concerns about rising oil prices and increased debt. Higher oil prices would have also affected the U.S. economy. Thankfully, the price of oil ended lower at the end of the week than the beginning even though midweek […]

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ANWR Drilling Benefits Americans

One of the United States’ most pressing political issues over the past 40 years has been the question of whether or not to drill for oil in Alaska’s Arctic National Wildlife Refuge known as ANWR. Action has never been taken by the U.S. government to approve drilling because of presidential vetoes, Senate filibusters and allegiance […]

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Hydraulic Fracturing Can’t be Blamed

Many people question if hydraulic fracturing of gas-bearing rock deep beneath the earth’s surface is safe or not. One study done in Fort Worth showed how methane in the water was not caused by fracking. Duke University scientists published a study that was intended to determine whether fracking at Marcellus Shale natural gas wells in […]

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