The American Petroleum Institute is taking issue with the president’s State of the Union demand to end subsidies and tax breaks for oil producers. While Obama didn’t say just which subsidies he’d cut, the industry isn’t waiting…
Oil prices rose modestly, after spiking by almost $2 a barrel earlier Monday, on reports that an Alaskan pipeline that was shut down Saturday because of an oil leak will reopen within days.
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BP (BP), ConocoPhillips (COP) and Exxon Mobil (XOM) have cut their oil production from Alaska’s Prudhoe Bay field by 95% after a leak was discovered in the Trans-Alaska Pipeline. No one is certain how long the leak will take to fix. It appears to be in…
Apple (AAPL) shares closed Thursday at $333.73, very near an all-time high. Some analysts have price targets on the stock above $450. If Apple shares reached that level, the tech giant would likely pass Exxon Mobil (XOM) as the most valuable U.S.-liste…
One would think that BP’s massive Gulf of Mexico oil spill this year would have given pause to the global oil industry, but that doesn’t appear to be the case. Companies in the sector are planning to spend a record $490 billion…