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Content Tagged As oil

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  • Gulf of Mexico oil lease sale: $121M in high bids

    August 17, 2017 10:00 AM

    NEW ORLEANS- Oil and gas companies offered $121.1 million in high bids on 90 Gulf of Mexico tracts at a federal lease sale. Wednesday's sale was the first since 1983 to offer every available tract in the Gulf. Companies bid on far fewer tracts than in March, when only... more »
  • Feds reject 10 of 163 high bids in oil lease sale as too low

    June 27, 2017 9:52 PM

    NEW ORLEANS - The federal government says it has rejected 10 high bids from the most recent Gulf of Mexico oil lease sale as too low, while accepting 153 other high bids submitted in March. The Bureau of Ocean Energy management said in a news release Tuesday that... more »
  • Coast Guard responds to oil spill in Black Bay

    June 10, 2017 1:52 PM

    NEW ORLEANS - An oil spill has been spotted at an unmanned oil platform near Black Bay, southeast of New Orleans. Coast Guard Sector New Orleans received a report that oil and gas exploration services company LLOX LLC's platform discharged crude Friday into the water from a pressure... more »
  • Legislators to vote on revised gas tax hike Play Video

    May 30, 2017 4:29 PM

    BATON ROUGE - Louisiana lawmakers are set to vote on a revised proposal for a statewide gas tax hike. The proposal, which was originally presented as a 17 cent tax hike, would charge an additional 10 cents per gallon for gasoline purchases in the state. The amount was decreased... more »
  • Trump plan to sell off half of oil stockpile sparks debate

    May 25, 2017 7:42 AM

    WASHINGTON - President Donald Trump's proposal to sell nearly half the U.S. emergency oil stockpile is sparking renewed debate about whether the Strategic Petroleum Reserve is still needed amid an ongoing oil production boom that has seen U.S. imports drop sharply in the past decade. Trump's budget calls for selling... more »
  • Scott Angelle to head federal offshore drilling agency

    May 22, 2017 3:57 PM

    BATON ROUGE - A Louisiana state utility regulator has been tapped to lead an energy oversight agency for President Donald Trump's administration. Scott Angelle, a member of Louisiana's Public Service Commission, has been named director of the U.S. Interior Department's Bureau of Safety and Environmental Enforcement. The agency, which regulates... more »
  • House tax committee votes in favor of gas tax hike Play Video

    May 16, 2017 7:33 PM

    BATON ROUGE - The House Ways and Means Committee advanced a proposal to increase Louisiana's gasoline tax by 17 cents per gallon, with inflationary adjustments in future years. Lawmakers say the money would go toward improving the states infrastructure, specifically aiming to improve the state's roads and bridges. ... more »
  • $4.2 million penalty in deadly 2012 platform fire

    May 12, 2017 8:39 PM

    NEW ORLEANS - An energy company has reached a plea deal with federal prosecutors, avoiding manslaughter charges and agreeing to a $4.2 million penalty in connection with a 2012 offshore oil platform fire that killed three workers. Court documents show Houston-based Black Elk Energy pleaded guilty Friday to nine criminal... more »
  • Alaskan oil well leaking gas

    April 15, 2017 4:05 PM

    ANCHORAGE - A federal official says crews in Alaska are trying to shut down an oil well that is leaking explosive natural gas on the frozen North Slope. The Environmental Protection Agency says a crack in a BP wellhead near Deadhorse sent up mist of crude oil Friday before it... more »
  • Change-of-plea hearing set in deadly 2013 offshore fire

    April 10, 2017 9:09 PM

    NEW ORLEANS - Federal criminal charges filed against an energy company over a deadly 2012 offshore oil platform fire may be headed for a resolution. Three Filipino workers died in the Nov. 16, 2012, fire on the platform operated by Black Elk Energy Offshore Operations. Black Elk has pleaded not... more »
  • Gas tax could increase 20 cents per gallon Play Video

    April 6, 2017 6:48 PM

    BATON ROUGE- The lack of funding for road work in Louisiana is causing more than just frustration on the highway. Business groups said Thursday it's hurting the Baton Rouge area economy. "We have a very unique example recently where the LA 1 Bridge across the river was posted [closed... more »
  • Louisiana mulling gas tax hike amid traffic woes, backlog

    April 3, 2017 5:23 PM

    BATON ROUGE - Louisiana's multibillion-dollar road and bridge work backlog and the crippling traffic around the state's capital city are driving a new push to hike the state gasoline tax. The tax increase will be debated in the legislative session that begins April 10. A task force created by the... more »
  • Gulf Coast oil lease sale public meetings scheduled

    April 1, 2017 3:30 PM

    NEW ORLEANS - The federal government will hold five public meetings around the Gulf Coast to get comments about air quality modeling and analysis for proposed region-wide oil lease sales next year. The Bureau of Ocean Energy management says the modeling results have not yet been reviewed. The open house-style... more »
  • Company: Dakota Access pipeline on track to start this week

    March 20, 2017 11:03 PM

    BISMARCK, N.D. - The company building the Dakota Access pipeline says the project remains on track to start moving oil this week despite recent "coordinated physical attacks" along the line. The brief court filing late Monday from Texas-based Energy Transfer Partners didn't detail the attacks, but said they "pose threats... more »
  • Man pleads not guilty to fraud on oil-spill recovery claim

    March 12, 2017 3:26 PM

    GULFPORT, Miss. - A man has pleaded not guilty to charges involving fraud in a $172,800 oil-spill recovery claim in 2010. The Sun Herald reported Saturday that 39-year-old Leonard Charles Thomas said he didn't receive the money by claiming he lost work as a deckhand after the BP oil spill.... more »
  • Proposed pipeline provokes heated debate Play Video

    February 8, 2017 11:29 PM

    NAPOLEONVILLE - Discussions over a proposed Louisiana pipeline got heated as environmentalists and oil and gas workers weighed the pros and cons. The Bayou Bridge Pipeline would stretch from Lake Charles to St. James Parish, transporting crude oil. It would join dozens of other pipelines that already run through the... more »
  • Last pipeline protesters weigh whether to fight or leave

    January 25, 2017 4:02 PM

    CANNON BALL, N.D.- Most of the demonstrators who gathered on the North Dakota plains to oppose the Dakota Access oil pipeline declared victory and departed their snowy protest camp last month. That was after the Army announced it would halt the project. Now that President Donald Trump's administration is pushing... more »
  • Japan reports 1st trade surplus in 6 years on cheaper oil

    January 24, 2017 11:47 PM

    TOKYO - Japan reports that it posted a trade surplus in 2016, the first in six years, as lower oil prices pulled imports lower. The 4.1 trillion yen ($35.8 billion) surplus compared with a 2.8 trillion yen deficit in 2015. Exports fell 7.4 percent from a year earlier while imports... more »
  • More fight over 163-mile pipeline through Atchafalaya Basin

    January 22, 2017 1:03 PM

    BATON ROUGE - Louisiana environmental groups are gearing up for round two in a battle against a proposed 163-mile oil pipeline that would stretch across south Louisiana from Lake Charles through the Atchafalaya Basin and east to St. James. A public hearing last week for a required U.S. Army Corps... more »
  • Three injured in blast at 'small' oil facility

    January 20, 2017 3:39 PM

    WHITE CASTLE - Three workers sustained injuries after an explosion at an oil storage tank facility Friday. The blast happened at a group of storage tanks on River Road downriver from White Castle but before Donaldsonville. Sources said the incident was in the 33000 block of La. 405. A... more »
  • Feds: Natural gas leaking from pipeline in Gulf of Mexico

    January 19, 2017 4:50 PM

    CAMERON - Federal regulators say a pipeline is leaking natural gas and liquid hydrocarbons in the Gulf of Mexico off Louisiana. The Bureau of Safety and Environmental Enforcement and the U.S. Coast Guard are responding to the leak in waters roughly 30 miles southwest of Cameron, Louisiana. It was reported... more »
  • US gas prices jump 12 cents over 3 weeks to $2.38 a gallon

    January 8, 2017 5:46 PM

    CAMARILLO - The average price of regular-grade gasoline has surged 12 cents nationally over the past three weeks, to $2.38 a gallon. Industry analyst Trilby Lundberg said Sunday the hike mostly results from the gasoline market catching up with rising crude oil costs. Lundberg says the current price is 33... more »
  • 3 arrested in stadium pipeline protest released

    January 2, 2017 8:13 PM

    MINNEAPOLIS - Three people are out of jail after being arrested after opponents of the Dakota Access oil pipeline suspended a large banner inside U.S. Bank Stadium during a Minnesota Vikings game. Online records for Hennepin County Jail showed the three were released from custody Monday. A news release says... more »
  • US gas prices jump 6 cents over 2 weeks to $2.26 a gallon

    December 18, 2016 3:33 PM

    CAMARILLO - The average price of regular-grade gasoline has jumped 6 cents nationally over the past two weeks, to $2.26 a gallon. Industry analyst Trilby Lundberg said Sunday the hike mostly results from an agreement Nov. 30 by major oil-producing countries to slash output. Lundberg says the current price is... more »
  • Non-OPEC oil producers to cut output 558,000 barrels a day

    December 10, 2016 2:26 PM

    VIENNA - OPEC has persuaded 11 non-member countries to cut their oil production in an attempt to raise low prices that have put pressure on government finances in resource-dependent countries. Qatari Energy Minister Mohammed bin Saleh al-Sada said Saturday that non-members agreed to cut 558,000 barrels per day, less than... more »
  • Republican senator: Pipeline protesters should leave camp

    November 26, 2016 11:50 AM

    CANNON BALL, N.D. - North Dakota U.S. Sen. John Hoeven says opponents of the Dakota Access oil pipeline should respect the law and leave the protest area. The Republican made the statement after the U.S. Army Corps of Engineers sent a letter Friday to Standing Rock Sioux tribal chairman Dave... more »
  • Sheriff probing report of shots fired in pipeline protest

    November 13, 2016 5:58 PM

    MANDAN, N.D. - Authorities in North Dakota are investigating a report of multiple shots fired during a weekend protest against the construction of the Dakota Access oil pipeline. Morton County sheriff's spokesman Rob Keller on Sunday said the report of shots fired was received Saturday morning, when about 500 people... more »
  • Attorneys in BP settlement with divide $555.2 million

    October 27, 2016 8:57 PM

    NEW ORLEANS - A judge has ruled a group of attorneys will divide $555.2 million for their work on behalf of people and businesses who suffered economic damages because of BP's 2010 Gulf oil spill. U.S. District Judge Carl Barbier of New Orleans issued a 42-page ruling spelling out reasons... more »
  • Court to hear suit against Deepwater Horizon spill activists

    October 2, 2016 12:24 PM

    BOSTON - Two environmental activists who were sued for defamation over an article they wrote about the Deepwater Horizon oil spill are taking their case to the highest court in Massachusetts. Former teacher Karen Savage and single mother Cherri Foytlin were sued by a scientific consulting company after their article... more »
  • Energy company CEO: Oil and gas industry to make comeback

    September 22, 2016 9:50 AM

    LAFAYETTE - The president and CEO of Stone Energy Corp. in Lafayette says he's confident the oil and gas industry will bounce back. David Welch told the quarterly meeting of the Louisiana Oil & Gas Association on Wednesday that as the world population grows so will the demand for... more »
  • Helis Oil & Gas halts St Tammany Parish drilling project

    September 20, 2016 10:47 PM

    NEW ORLEANS - Helis Oil & Gas Co. has abandoned its plans to drill in St. Tammany Parish. The company, in a news release Tuesday, said "after a lengthy review of geologic, engineering and other data," it had decided to scrap a second phase of a drilling operation that involved... more »
  • Oil spill restoration trustees to meet in New Orleans

    September 15, 2016 9:38 AM

    NEW ORLEANS - The public gets a chance later this month to hear from a group of trustees assembled to oversee billions of dollars in damage restoration efforts related to the 2010 Gulf of Mexico oil spill. The Natural Resource Damage Assessment Trustees are to meet Sept. 28 in New... more »
  • Freeport-McMoRan agrees to sell its deepwater Gulf assets

    September 13, 2016 9:09 AM

    BATON ROUGE - Freeport-McMoRan will sell its deepwater Gulf of Mexico oil and gas properties to Anadarko Petroleum Corp. for $2 billion. The Phoenix-based company said Monday the sale was part of a broader strategy to shed debt and concentrate on its copper business. Richard Adkerson, Freeport-McMoRan's president and CEO,... more »
  • Gas prices up 4 cents cent to $2.21 a gallon

    September 11, 2016 4:46 PM

    CAMARILLO, Calif. - The average price of gasoline in the U.S. is up four cents over the past three weeks to $2.21 a gallon for regular grade. Industry analyst Trilby Lundberg said Sunday that higher crude oil costs caused refiners and retailers to bump up their prices. The average price... more »
  • Federal intervention on oil pipeline project unprecedented

    September 10, 2016 10:26 PM

    BISMARCK, N.D. - The federal government's temporary stoppage of an oil pipeline may change the way energy projects are reviewed. Just minutes after a federal judge denied the Standing Rock Sioux tribe's attempt to halt the construction of the Dakota Access oil pipeline Friday, three federal agencies appealed to the... more »
  • EPA report: Some oil leaked from facility during August flood

    August 31, 2016 4:35 PM

    DENHAM SPRINGS - The EPA said displaced oil containers discharged between 300 and 600 gallons of unused motor oil into a neighborhood during the August 2016 flood event. The information comes after a federal inquiry into complaints from neighbors who live around Lard Oil Company on Florida Avenue in... more »
  • Gas prices up by half a cent to $2.17 a gallon

    August 21, 2016 10:54 PM

    CAMARILLO - The average price of gasoline in the U.S. is up by over half a cent to $2.17 a gallon for regular grade. Industry analyst Trilby Lundberg said Sunday higher crude oil prices are causing refiners and retailers to bump up their prices. Still, the average price is 54... more »
  • Gas prices down 6 cents nationally to $2.16 a gallon

    August 7, 2016 5:15 PM

    CAMARILLO, Calif. - The average price of gasoline in the U.S. has dropped six cents over the past two weeks to $2.16 a gallon for regular grade. Industry analyst Trilby Lundberg said Sunday that the price has dropped 21 cents since a peak June 3, though the most recent decline... more »
  • Payments from 2012 BP settlement $7.9 billion so far

    August 1, 2016 5:55 PM

    NEW ORLEANS - The office that processes claims for businesses and people who suffered economic losses from the 2010 Gulf of Mexico oil spill says it has approved payments totaling $8.5 billion as of June 30. Of that, $7.9 billion in claims has been paid. The figures are in the... more »
  • Shell to trim jobs in deep waters of the Gulf of Mexico

    July 21, 2016 6:41 PM

    NEW ORLEANS - Oil giant Shell says it will be cutting about 190 jobs from its deep-water Gulf of Mexico operations. Kimberly Windon, a Shell spokeswoman, says the company determined its staffing levels were higher than other operators'. The cuts include both contractors and Shell employees. The company said Thursday... more »
  • Alaska could end to oil checks paid to residents since 1982

    June 29, 2016 11:19 AM

    ANCHORAGE - As Alaska faces a multibillion dollar budget deficit, the oil fund wealth checks distributed yearly to nearly every Alaskan could be on the chopping block. It could mean the first time in more than 30 years that most Alaskans won't get a check from the government just for... more »
  • Gas prices drop nearly a penny, still average $2.37 a gallon

    June 19, 2016 4:05 PM

    CAMARILLO - The average price of gasoline has leveled off to $2.37 for a gallon of regular unleaded. Industry analyst Trilby Lundberg said Sunday that the price dropped nearly a penny since peaking two weeks ago. The slight decline came after nearly three months of rising prices. Lundberg says the... more »
  • State supreme court won't hear St. Tammany fracking appeal

    June 19, 2016 3:45 PM

    NEW ORLEANS - A sharply divided Louisiana Supreme Court says it won't hear a challenge to a state decision awarding a permit to a company that wants to drill an oil well in St. Tammany Parish. Helis Oil & Gas said before the decision that it's ready to begin drilling... more »
  • EPA's plan to boost ethanol use in gasoline gets hearing

    June 9, 2016 10:02 AM

    KANSAS CITY, Mo. - All sides of the ethanol and biofuels debate are getting the chance to weigh in on a federal agency's proposal to boost the amount of renewable fuels blended into gasoline. The U.S. Environmental Protection Agency is holding its only hearing Thursday in Kansas City, Missouri, on... more »
  • Gas prices jump 6 cents over past 2 weeks, averages $2.37

    June 5, 2016 3:16 PM

    CAMARILLO, Calif. - The average price of gasoline has jumped by six cents over the past two weeks to $2.37 a gallon for regular grade. Industry analyst Trilby Lundberg said Sunday that the hike is mostly due to a continuing increase in crude oil prices. The price at the pump... more »
  • Gas prices jump by 5 cents over past 2 weeks, averages $2.32

    May 22, 2016 5:09 PM

    CAMARILLO, Calif. - The average price of gasoline has jumped by a nickel over the past two weeks to $2.32 a gallon for regular grade. Industry analyst Trilby Lundberg said Sunday that the hike is mostly due to a continuing increase in crude oil prices. The price at the pump... more »
  • Coast Guard responds to oil spill in Gulf of Mexico

    May 12, 2016 11:37 PM

    NEW ORLEANS -- On Thursday, the US Coast Guard responded to a crude oil spill from an underwater Shell pipeline. Shell officials said they believe about 2,100 barrels of oil were released as a result of the spill. Authorities said Shell has isolated the leak and shut down production... more »
  • Gas prices jump by 8 cents over past 2 weeks, averages $2.18

    April 24, 2016 2:55 PM

    CAMARILLO, Calif. - The average price of gasoline has jumped by 8 cents over the past three weeks to $2.18 a gallon for regular grade. Industry analyst Trilby Lundberg said Sunday that the hike is partly due to crude oil prices edging up. The price at the pump has gone... more »
  • Oil company to pay fines over 3 Atchafalaya oil spills

    April 23, 2016 3:27 PM

    NEW ORLEANS - Federal prosecutors say a Lafayette-based oil company has agreed to pay more than $700,000 in fines in connection with three crude oil spills in the Atchafalaya River basin. The U.S. Justice Department announced Friday it had entered a consent decree with ORB Exploration LLC. The company is... more »
  • Medical marijuana proposal wins Senate support

    April 20, 2016 5:51 PM

    BATON ROUGE - A day after falling one vote short, backers of a proposal to expand Louisiana's medical marijuana law to cover more diseases found success in the Senate. Senators voted 21-16 Wednesday for the proposal from Republican Sen. Fred Mills. It needed 20 votes to pass. Louisiana hasn't yet... more »
  • Drilling protesters: 'The Gulf is not for sale!'

    April 18, 2016 11:36 AM

    NEW ORLEANS - About 50 opponents of continued oil and gas leases in the Gulf of Mexico rallied on the sidewalk and then brought their chants into a public meeting about potential impacts of continuing the lease program for five more years. For a few minutes, they stood... more »
  • A bust hits the Oil Patch as rest of nation enjoys cheap gas

    April 17, 2016 3:33 PM

    HOUMA - In Louisiana's Oil Patch, folks can't wait for the price of gas to go back up. Cheap gasoline at the pump - though a welcome cash infusion for millions of American households - is a way of saying "recession" in south Louisiana, where oil wells are as common... more »
  • Feds issue new, tougher offshore drilling rules

    April 14, 2016 11:13 AM

    NEW ORLEANS - The Obama administration has issued new rules to make offshore oil and natural gas drilling equipment safer and to reduce risks in digging wells, but the oil industry is blasting those rules as unnecessary and costly. The rules were published Thursday by the Interior Department, nearly six... more »
  • Gas prices jump by 8 cents over past 3 weeks, to $2.10

    April 10, 2016 3:07 PM

    CAMARILLO, Calif. - The average price of gasoline has jumped by 8 cents over the past three weeks, to $2.10 a gallon for regular grade. Industry analyst Trilby Lundberg said Sunday that the hike is due to gas stations raising prices nearly twice as much as refiners are raising wholesale... more »
  • Governor seeks role in lawsuits against oil, gas companies

    April 7, 2016 6:31 PM

    NEW ORLEANS - The Edwards administration has joined the state attorney general in getting involved in lawsuits filed against oil and gas activities over damage to coastal wetlands. On Thursday, Gov. John Bel Edwards said the Louisiana Department of Natural Resources is seeking to intervene in lawsuits filed by Plaquemines,... more »
  • Energy leaders host 2016 Oil and Gas Industry Day Play Video

    April 5, 2016 6:55 AM

    BATON ROUGE- Several state leaders are the 2016 Oil and Gas Industry Day Tuesday to discuss one of Louisiana's most important industries and some of the problems facing it. The oil and gas industry accounts for one out of every six jobs in the state. Recently, the industry has been... more »
  • UPDATE: St. Mary Parish lifts shelter advisory following spill

    March 28, 2016 8:47 PM

    ST. MARY PARISH - Louisiana State Police Haz Mat lifted the shelter advisory in place for residents after an oil spill in Bayou Teche near the Adeline Bridge occurred on Monday night. Highway 87 is now open, accoriding to the St. Mary Parish Sheriff's Office. The portion of Bayou... more »
  • Two schools close as area deals with losses due to oil price free fall

    March 28, 2016 12:42 PM

    MORGAN CITY - An elementary school in this onetime oil rich St. Mary Parish city will close because of a significant loss in sales taxes. M.D. Shannon Elementary is one of two schools slated for closure recently. The other, J.A. Hernandez Elementary in Franklin, will also close its doors.... more »
  • Gas prices jump by 17 cents over past 2 weeks, to $2.02

    March 20, 2016 3:28 PM

    CAMARILLO, Calif. - The average price of gasoline has jumped by 17 cents over the past two weeks, to $2.02 a gallon for regular grade. Industry analyst Trilby Lundberg said Sunday that the hike is due to growing demand for gasoline across the nation and higher crude oil prices. Lundberg... more »
  • Gas prices jump by 7 cents over past 2 weeks, to $1.84

    March 6, 2016 8:20 PM

    CAMARILLO - The average price of gasoline has jumped by 7 cents over the past two weeks, to $1.84 a gallon. Industry analyst Trilby Lundberg said Sunday that despite the increase, the price is 70 cents per gallon cheaper than a year ago. Lundberg says the moderate price hike is... more »
  • Standoff between state House, Senate impeding progress Play Video

    March 2, 2016 1:22 AM

    BATON ROUGE - Tuesday at the capitol, discussions over raising sin taxes stalled again, but lawmakers did make a last minute decision to approve a one cent sales tax increase. For a 3rd consecutive day, Louisiana's House of Representatives refused to take an action on two tax increases - cigarettes... more »
  • Boom to bust: Crude oil costing families Play Video

    February 23, 2016 12:30 AM

    MORGAN CITY- Going to the gas pump isn't the pain it used to be. Many drivers are loving the cheaper prices, but dropping oil prices are placing a burden on residents in places like Morgan City that rely heavily on the oil and gas industry. Offshore workers are being laid... more »
  • White House: Scrap drilling revenue sharing with Gulf states

    February 10, 2016 5:57 PM

    NEW ORLEANS - Louisiana's U.S. senators and environmental groups are blasting the White House for proposing to help Alaska deal with rising seas by taking money away from similar efforts along the Gulf Coast. In its proposed budget for 2017, the White House said Tuesday it wanted to repeal a... more »
  • State economist: La. entering recession Play Video

    February 10, 2016 11:24 AM

    BATON ROUGE - The economic outlook of the state took a dramatic, somber turn Wednesday morning when revenue estimators met at the capitol. The deficit for the current fiscal year grew to almost $1 billion. It had hovered around $750 million until Wednesday. The fiscal year ends at the... more »
  • Chevron expected to cut hundreds of jobs in Covington and Lafayette

    February 5, 2016 10:50 AM

    BATON ROUGE- Chevron North America issued a Worker Adjustment and Retraining Notification (WARN) Friday, announcing possible layouts at five of their offices in Covington and Lafayette. In a news release sent out today, the company said it's refocusing its efforts on increasing its efficiency and cutting costs due to the... more »
  • Obama seeks $10-per-barrel oil tax to fund clean transport

    February 4, 2016 4:53 PM

    WASHINGTON - President Barack Obama wants oil companies to pay a $10 tax for every barrel of oil to help fund investments in clean transportation. Obama will formalize the proposal Tuesday when he releases his final budget request to Congress. The $10-per-barrel fee is expected to be dead-on-arrival among Republicans... more »
  • US rig count down 18 this week to 619; Texas down 13

    January 29, 2016 2:14 PM

    HOUSTON - Oilfield services company Baker Hughes Inc. says the number of rigs exploring for oil and natural gas in the U.S. declined by 18 this week to 619. The Houston firm said Friday 498 rigs sought oil and 121 explored for natural gas amid depressed energy prices. A year... more »
  • Gov. Edwards discusses future at oil & gas group event

    January 29, 2016 12:03 PM

    LAKE CHARLES - Industry leaders and state officials say times are tough in the oil and gas patch with low commodity prices and a troubled state budget only complicate the path toward recovery. During the Louisiana Oil & Gas Association's annual meeting Thursday in Lake Charles, the American Press... more »
  • Gas prices plunge 14 cents over past 2 weeks

    January 24, 2016 4:24 PM

    CAMARILLO - The average price of gasoline has plunged 14 cents over the past two weeks, to $1.91 a gallon. Industry analyst Trilby Lundberg said Sunday that with the latest decline the price is the lowest it's been in seven years. Lundberg says the price drop may soon end as... more »
  • Stocks routed again as oil slide seems bottomless

    January 20, 2016 11:34 AM

    NEW YORK - Energy stocks are leading another sell-off on Wall Street as the price of oil continues to plunge. U.S. crude dropped 2 percent to just under $28 a barrel in New York early Wednesday. Dropping energy prices is a sign that the global economy is slowing down. Oil... more »
  • Iran to boost oil output by 500,000 barrels

    January 18, 2016 1:12 PM

    TEHRAN, Iran - Iran plans to increase oil production by 500,000 barrels per day now that sanctions have been lifted under a landmark nuclear deal with world powers. Deputy Oil Minister Roknoddin Javadi says Iran is determined to retake its market share, which plunged after the crippling sanctions were imposed... more »
  • With wave of Iranian oil imminent, a shudder in Saudi Arabia

    January 17, 2016 7:34 PM

    WASHINGTON - A new wave of oil from Iran will flow into a global market awash in oil where prices are plunging to depths not seen in a dozen years. With a historic nuclear deal between Iran, the U.S. and five other world powers set into place this weekend, a... more »
  • Gas prices continue to fall

    January 9, 2016 1:53 PM

    CHICAGO - The average price for a gallon of regular gas is $1.97. That's 19 cents lower than prices at the pump one year ago, according to GasBuddy.com. The group's senior petroleum analyst, Patrick DeHaan, says 77 percent of the country is paying less than $2.00 a gallon this weekend.... more »
  • Q&A: How much money you just saved on gas in 2015

    December 31, 2015 1:43 PM

    NEW YORK - The Saudis are tightening their belts this year which can mean only one thing: you're saving a bucket load on gasoline. Massive stockpiles of crude globally have turned 2015 into the year of the pain-free fill up. High five your local gas pump, buckle up and hit... more »
  • Gas prices still falling as crude oil costs nosedive

    December 20, 2015 3:12 PM

    CAMARILLO - The price of gasoline nationwide keeps dropping. Industry analyst Trilby Lundberg said Sunday that the average price of regular gas fell 4 cents in the past two weeks, to $2.06 per gallon. That's the lowest price since April 2009. Lundberg says the drop is due to another nosedive... more »
  • US expected to lift ban on U. S. oil exports

    December 16, 2015 5:10 PM

    NEW YORK - The U.S. could soon end restrictions on oil exports put in place in the mid-1970s. The lifting of the embargo is part of a spending deal expected to be pushed through the House and Senate by the end of the week. Here are the reasons why... more »
  • Louisiana economic growth lags nation in second quarter

    December 12, 2015 2:39 PM

    NEW ORLEANS - New figures show Louisiana's economy grew at a 2.4 percent annual rate from April through June, slower than the nation's economy. Gross domestic product numbers released Thursday by the federal Bureau of Economic Analysis try to measure all of the economic output of each state. Louisiana's performance... more »
  • US steps up attacks on Islamic State oil trucks in Syria

    November 23, 2015 11:51 AM

    WASHINGTON - The U.S. military is accelerating its attacks on tanker trucks used by the Islamic State to haul oil for its lucrative smuggling operations. A U.S. spokesman in Baghdad said Monday that the U.S. hit 283 oil tanker trucks in eastern Syria on Saturday as part of a concerted... more »
  • Obama administration nixes Keystone XL pipeline

    November 6, 2015 11:22 AM

    WASHINGTON - After seven years of federal review, the Keystone X-L oil pipeline has been rejected. President Barack Obama says he made the decision because the proposed project wouldn't serve U.S. national interests, and would have undercut the country's global leadership on climate change. Speaking at the White... more »
  • Feds: 1 dead in accident on drillship in Gulf of Mexico

    October 20, 2015 6:55 PM

    NEW ORLEANS - Two federal agencies are investigating an accident that killed a man on a ship drilling for oil in the Gulf of Mexico. The owners say nobody else was hurt. The accident occurred about 10:15 a.m. Tuesday on the drillship Pacific Santa Ana. Spokeswoman Amy Roddy... more »
  • Economists question Bush's prescription for lower gas prices

    September 29, 2015 7:02 PM

    DES MOINES, Iowa - Oil industry economists say a link between ending a 40-year oil export ban and lower prices at the gas pump is not as direct as Republican presidential candidate Jeb Bush would have voters believe in his new energy proposal. Bush's overall premise that lifting the... more »

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