Ben Foster

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North Dakota rigs slip below 60 for first time since 2009

BISMARCK, N.D. (AP) — The number of drill rigs in North Dakota slid below 60 on Monday for the first time since 2009 as crude prices tumble and companies focus on richer portions of the state's oil patch.<p>State Department of Mineral Resources data show 59 rigs were operating Monday in western North …

Oil & Gas Industry

'No' Is Not an Energy Plan

There's a question I get often when it comes to leadership. The question is this: "What makes a great leader?"<p>It's simple. Be willing to make decisions and accept the consequences. Take into account all the information available, and make a call. That's the most important quality in a good leader. …

Kenya and Uganda are building the world’s longest heated oil pipeline

Kenya and Uganda have agreed on a route for a 1,500-km (930-mile) pipeline to pump oil from Uganda to the Indian Ocean, a project that officials hope will transform East Africa into a major oil exporting region.<p>The path—to serve Kenya, Uganda, South Sudan, and potentially Ethiopia—has been the …

Africa

World's First Ice-Breaking Tanker Ships Will Plough Through Arctic Route

Crushing their way across the top of the world<p>There's a lucrative shipping route between Europe and Asia that has the potential to cut thousands of miles and months of time off the trip. The only catch: it's covered with thick, ship-sinking Arctic ice.<p>Heavy ice blocks the Arctic route from December …

Sorry, but there was never an oil storage crisis

Probably not, according to Robert Rapier of Energy Trends Insider.<p>In fact, we're not even close.<p>Rapier writes that "oil producers could continue to add a million barrels a week (which is about the average over the past year) for nearly four years before crude oil storage is actually full."<p>The …

Oil

House Bill Would Provide Tax Deduction For Gym Membership; Shake Weight

People are fat. No, no….not you. You’ve never looked better. I was referring to everyone else.<p>Well, not <i>everyone</i> else, but the statistics are pretty bleak. Two out of every three Americans are considered overweight or obese, ranking the U.S. among the fattest countries in the world.<p>Of course, …

Retirement

Why racism is not backed by science

As we harvest ever more human genomes one fact remains unshakeable: race does not exist<p>Barely a week goes by without some dispiriting tale of racism seeping into the public consciousness: the endless stream of Ukip supporters expressing some ill-conceived and unimaginative hate; football hooligans …

US eases oil export ban in shot at Opec as crude price slumps

American move to allow more oil exports will escalate price war with Opec and potentially force crude oil even lower in 2015<p>President Barack Obama has fired a shot at the Organisation of Petroleum Exporting Countries (Opec) in the war to control global oil markets by quietly sanctioning the easing …

Oil

Tumbling oil could take thousands of jobs with it

The oil price crash could take thousands of good-paying jobs with it in America and around the world.<p>Bad news already started to flow this week: Halliburton (HAL) affirmed that it plans to cut 1,000 positions due to the depressed oil market, and BP (BP) announced an unspecified number of layoffs as …

The Number Of US Oil Rigs In Operation Just Dropped By The Most In Two Years

The number of oil rigs in operation is falling.<p>Last week, the number of oil rigs in use in the US fell by 27 — to 1,893 from 1,920 the prior week — according to the latest weekly rig count from Baker Hughes.<p>This was the biggest single weekly drop in rig count in two years, according to Bloomberg.<p>In …

Oil & Gas Industry

OPEC's Gamesmanship Could Benefit Exxon and Chevron

OPEC (read, Saudi Arabia) sees the oil surplus, but says it will not be the one to cut production to balance supply with demand. This decision is more than inaction or inertia. It looks to be commodity gamesmanship designed to squeeze out higher cost competition.<p><i>Disclosure: Author purchased Chevron</i> …

CANCEL THANKSGIVING: The Most Important OPEC Meeting In Years Is Happening On Thursday

But there's something way more important happening in Austria: OPEC is meeting.<p>And with crashing oil prices threatening the budgets of the oil-producing nations, this will be one of the most important OPEC meeting in years.<p>OPEC, or the Organization of the Petroleum Exporting Countries, is an …

Oil

All eyes on oil: What will OPEC do this week?

While Americans are chomping down on turkey and pie this week, everyone involved in the energy world will be closely watching the Thanksgiving Day meeting of the OPEC in Vienna, Austria.<p>Oil prices have tumbled dramatically in recent weeks. Oil now trades below $80 a barrel and most Americans can …

Battle turning against IS, says US Gen Martin Dempsey

http://vod-pro-ww-live.akamaized.net/mps_h264_hi/public/news/world/1124000/1124384_h264_1500k.mp4?__gda__=1518188667_eec6296a289f4b144a22ce109a61910b<p><b>America's top general has told US troops in Iraq that momentum is turning against Islamic State militants.</b><p>Gen Martin Dempsey, on an unannounced visit, …

Middle East

Halliburton ups pressure on Baker Hughes as merger talks stall

Baker Hughes said Halliburton, which had presented an "unsolicited proposal" last month to buy all outstanding shares, had notified it of its intention to nominate candidates to replace the entire board at the April 2015 annual meeting.<p>The move opens the possibility of a hostile takeover bid by …

Halliburton

Low Gas Prices Haven't Slowed Domestic Drilling — Yet

It's lunchtime in Douglas, Wyo., a town smack in the middle of the state's booming oil patch, and the line of cars at the McDonald's drive-through wraps around the building. A hiring poster hangs in the window, and the parking lot is full.<p>Troy Hilbish, a tool hand for the oil field servicing …