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+2 +1
The World Is Running Out of Places to Store All of Its Oil
The world is now pumping so much more oil than it needs that corporations are apparently running out of space to store the stuff. If the globe were a giant gas tank, its meter would be getting close to full.
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+6 +1
Train Carrying Crude Oil Derails Near Gogama, Ont.
A train carrying crude oil has derailed near Gogama, Ont., the fourth derailment in northern Ontario this year. Police have closed Highway 144.
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+20 +1
IEA Sees Renewed Pressure on Oil Prices as Glut Worsens
Oil prices might have stabilized only temporarily because the global oil glut is worsening and U.S. production shows no sign of slowing, the International Energy Agency said on Friday.
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+9 +1
Oil Slips Close to $55 as Saudi Output Rises to Near Record
Oil prices declined on Monday, holding near $55 a barrel after Saudi Arabia indicated it was now pumping near a record high of 10 million barrels per day.
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+2 +1
Oil of L.A.
Twenty billion barrels of oil sit beneath Los Angeles. Hidden in plain sight, thousands of wells pump day and night all over the city covered by hollow office buildings, camouflaged next to high schools, and concealed behind shopping malls.
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+7 +1
Leaked videos suggest Chevron cover-up of Amazon pollution
Videos reportedly leaked by a whistleblower at the Chevron Corp. purport to show employees and consultants paid by the energy giant finding petroleum contamination at sites in the Ecuadorean Amazon that the company claimed was cleaned up years earlier.
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+18 +1
25,000 Mexican Fishermen Sue BP over Environmental Disaster
Five years after the environmental catastrophe in the Gulf of Mexico caused by British Petroleum, Mexican fishermen have still not received any compensation. Mexican fishermen filed a class action lawsuit in a U.S. court against BP oil company, as collectives or individuals, seeking compensatory and punitive damages over alleged negligence and missteps that led to the massive leak at the Macondo well that led to about 5 million barrels of oil spilled into the Gulf of Mexico...
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+9 +1
Oil tops $60 a barrel for first time in 2015
Here's something the world hasn't seen since December: oil trading above $60 a barrel. Traders are buzzing about whether its a sign that the era of low gas prices for American drivers is over. "It looks like this market is breaking out," said Phil Flynn, a senior energy analyst at the Price Futures Group in Chicago.
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+17 +1
Texas earthquakes: Fracking is likely cause, study says
Jim and Gail Wells have lived in the upscale Las Colinas area of Irving, Texas, for 14 years. Nestled between Dallas and Fort Worth, they love their quaint neighborhood for its custom homes amid rolling hills and large trees. One of the neighborhood's newer features is a spate of seismic activity. According to the U.S. Geological Survey, the Dallas area has suffered almost 40 small earthquakes (magnitude 2.0 or higher) since the beginning of this year...
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+14 +1
The Many Unknowns of Inevitable Arctic Oil Spills
Scientists from around the world have spent decades trying to answer the question: What happens when oil spills in ice?
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+10 +1
BP Oil Spill Responsible for Gulf of Mexico Dolphin Deaths
New autopsy results confirm mass dolphin strandings largely stemmed from BP's 2010 Macondo well blowout. Lesions in the lungs and shrunken adrenal glands distinguish dolphins that washed up dead in the Gulf of Mexico between June 2010 and December 2012 compared with those found in beachings elsewhere. As a result, researchers have linked the mass deaths to BP's oil spill.
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+12 +1
The Fossil Fuel Industry Receives $10 Million Every Minute in Subsidies
The International Monetary Fund says the $5.3 trillion in subsidies this year is more than that spent globally on health care.
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+14 +1
OPEC to Pump Flat-Out for Months More
OPEC is set to carry on pumping oil nearly flat-out for months more, content that last year's shock market therapy has revived demand and knocked back growing competition.
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+15 +1
EPA on fracking: No 'widespread' impact on water
The U.S. Environmental Protection Agency said in a Thursday report that it found no evidence fracking has a "widespread" impact on drinking water. The EPA report—a draft assessment of its findings—concluded that there are above and below ground mechanisms by which fracking have the potential to impact drinking water resources, but that the number of identified cases were "small" compared to the number of fracking wells.
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+18 +1
Norway Confirms Major Divestment From Coal
Norway's Parliament has formally endorsed a move to exclude coal companies from the country's $900 billion oil fund because of their impact on climate change.
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+8 +1
The retreat of ‘peak oil’
Oil is not inexorably fading from the world stage.
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+11 +1
The Shale Industry Could Be Swallowed By Its Own Debt
The debt that fueled the U.S. shale boom now threatens to be its undoing...
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+16 +1
This Oil Spill Cleanup Chemical Quickly Biodegrades
Researchers at CUNY and Tulane University have developed a biodegradable, plant-based chemical to round up oil spills. When oil tankers crash and inevitably spill oil into the open seas, a go-to clean-up method is corralling the rapidly spreading oil and burning it. But in some places, like the ice-strewn Arctic ocean, physically corralling that oil with boats and boons is practically impossible. Now, there's a better way to collect that leaked gunk—and the methods users, greener...
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+2 +1
North Dakota's Oil Boom Is Over. What Now?
Thousands flocked to the state, building their lives around drilling. Then the price of oil plummeted. In a field of brittle yellow grass and clotted mud about five miles north of Dickinson, North Dakota, stands a cemetery of sorts. Drilling rigs stretch into the sky like tall skeletons. The occasional lone truck rattles along a dirt road. Otherwise, the location is deserted.
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-1 +1
BP Pays Record $18.7 Billion to Settle Claims in Gulf Oil Spill
BP Plc reached a record $18.7 billion agreement to settle all federal and state claims from the 2010 Deepwater Horizon oil spill after an abrupt strategy shift in May to re-open talks, according to three people close to the matter. The company had been committed to fighting the claims in court after negotiations fell apart in 2013. But falling oil prices and a federal judge’s recent rulings putting a potential $13.7 billion price tag on Clean Water Act violations...
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