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Oil industry

War and oil profits mean more investment in fossil fuels — and green energy

by David Brancaccio and Jarrett Dang
Feb 24, 2023
Oil giants are going to invest in more oil while also preparing for a greener future, says The Economist's Vijay Vaitheeswaran.
David McNew/Getty Images
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There's a new website publishing news stories in Texas. It's run by Chevron.

by Andy Uhler and Alex Schroeder
Aug 22, 2022
Chevron has been upfront about producing the site, but there are concerns it may be the only source of news for some in the area.
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Texas oil and gas industry should temper its job-creation claims, report says

by Andy Uhler
Jul 19, 2022
There’s been a hiring uptick, but "we're only about halfway" to pre-COVID employment numbers, the author of the IEEFA report says.
In the early part of the pandemic, the Texas oil and gas industry shed 20% of its workforce.
Joe Raedle/Getty Images
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How do we calculate supply and demand for oil heading into the future?

by Andy Uhler
Jun 15, 2022
There are a lot of variables that make predicting energy demand in 2023 difficult, including rising interest rates, inflation and potential COVID flare-ups.
President Biden recently demanded big oil companies bring down gas and diesel prices. Above, gas stations in Bethesda, Maryland, earlier this year.
Mandel Ngan/AFP via Getty Images
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A Warmer World

Oil execs ponder a future without oil as they gather in Houston

by Andy Uhler
Dec 7, 2021
We won't stop using fossil fuels right away, but the transition to renewable energy could be tricky.
A poster of an offshore drilling station at the World Petroleum Congress, where the oil industry is discussing its role in the future of energy.
Brandon Bell via Getty Images
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Why politicians have little sway over gas prices

by Andy Uhler
Aug 12, 2021
In an attempt to moderate gas and oil prices, Biden has asked OPEC to increase production, despite it being a function of market forces.
Gas prices near $6 a gallon at a Shell station on July 12 in San Francisco.
Justin Sullivan via Getty Images
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Some traders bet on oil hitting $100 per barrel as economies thaw

by Scott Tong
Jun 8, 2021
Demand is picking up as more and more people resume their normal lives after vaccination.
With more people on the move as economies reopen, oil prices will keep going up if demand outraces supply.
Paul Ratje/AFP via Getty Images
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COVID-19

Global rebound drives crude oil higher

by Mitchell Hartman
Mar 8, 2021
With West Texas Intermediate selling above $60 a barrel, drilling and pumping oil is profitable in the U.S. Permian Basin.
In the fall, the global economy came out of COVID-19 hibernation, and demand for oil and gas began to outstrip supply.
Christopher Furlong/Getty Images
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How Texas weather disruptions will ripple through oil supply chain

by Justin Ho
Feb 17, 2021
Even after the weather starts improving, this crisis' effects are likely to linger and be felt far beyond the Lone Star State.
The Gulf Coast handles roughly half of the U.S.'s oil refining capacity.
Andrew Caballero/Reynolds
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COVID-19

Oil profits drop as companies feel pandemic, carbon pressure

by Sabri Ben-Achour
Feb 4, 2021
More than 500 oil- and gas-related firms have declared bankruptcy. The survivors are focusing on efficiency, and some plan a transition.
Leon Neal/AFP via Getty Images
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