On Wednesday, February 23, 2011, the price of Benchmark West Texas Intermediate crude oil rose $4.59 to $100.01 dollars per barrel, with Nomura Securities predicting a "worst case scenario" rise in prices to $220 dollars per barrel. Today's rise of crude prices to over $100 per barrel exceeds...
The Gulf Oil spill stopped, outlook improving for the region. The BP owned oil rig wreaking havoc on the Gulf Of Mexico since an April 20, 2010 Deepwater Horizon explosion has been capped. The cap was effectively installed on on Thursday, July 15, 2010. Official U.S. Coast Guard...
The Gulf Oil Spill worsens as Obama falters during his first Oval Office Address. Since an April 20, 2010 explosion at an oil platform leased by BP, an estimated 210,000 gallons or more of crude oil have spewed into the Gulf of Mexico daily. On the fifty sixth day since the leak began,...
A barrel of oil contains 44 gallons of crude oil, which is turned into: - 18.56 gallons of gasoline- 10.31 gallons of diesel fuel- 7.01 gallons is used for "other", including plastics, cosmetics, paints, etc.- 4.07 gallons of jet fuel- 1.72 gallons of liquified petroleum (LP) gas- 1.68 gallons of...
The oil spill in the Gulf of Mexico resulting from an offshore platform explosion on April 20, 2010 is worse than the Exxon Valdez oil spill. The Gulf of Mexico faces 210,000 gallons of crude oil furiously pouring out of the Deepwater Horizon site which claimed the lives of 11 workers. The only...
An oil spill in the Gulf of Mexico is threatening the U.S. coast. Petty Officer 2nd Class of the U.S. Coast Guard, Prentice Danner reported that the Coast Guard has placed fire resistant containment booms along the shores of Louisiana to thwart the oil spill. The Coast Guard is uncertain how far...
An oil shortage is predicted by 2015 per U.S. researchers. The International Energy Agency released a report on April 15,2010 with dire predictions for oil consumption and prices. The IEA found that the oil demand, by the end of 2010, will reach an astounding 86.6 barrels a day with a 2% rise...
OPEC is the acronym for the “Organization of the Petroleum Exporting Countries”. It was established in 1960 with the mission and vision of unifying the world’s biggest oil producers in the midst of an oil crisis. At the time, Western oil companies were bullying countries to lower their oil prices....
The Trans-Alaskan Pipeline was shut down on Saturday after a leak was discovered at a North Slope pump station. Crews discovered the leak within the basement of the Prudhoe Bay location at approximately 8:15 a.m. The leak was found in a section of underground piping encased in concrete. Workers...
Daniel Edwards, an artist, blended pop music's reigning champion, Lady Gaga, with the U.S.'s worst oil catastrophe to create the "Nude Lady Gaga As Saint Francis in Gulf Oil Spill Statue." Edwards also used leftover tar balls to form his sculpture for what he has rendered the "Patron Saint of the...
