In the second quarter of 2015, the world's supply of oil was 96.39 million barrels a day, outstripping demand of 93.13 million barrels a day, according to the IEA's Oil Market Report, which described the world oil market as "massively oversupplied."
The federal government's new rules aimed at preventing explosive oil train derailments are sparking a backlash from all sides.
The railroads, oil producers and shippers say some of the new safety requirements are unproven and too costly, yet some safety advocates and environmental groups say the regulations aren't strict enough and still leave too many people at risk.
The vast majority of Oklahoma’s recent earthquakes occurred in areas where the energy industry pumped underground massive amounts of waste fluid byproducts of oil and gas production, scientists write in a new paper published Thursday.
There's a serious problem in the American economy: Big corporations are doing well, but real household income for average Americans has been falling over the past decade — down 9 percent, according to census data.
"That's not good for America," says Harvard economist Michael Porter. "That's not good for America's standard of living. That's not good for our ultimate vitality as a nation."
Two burly ben armed with sledgehammers take turns bashing a khaki-colored steel flange fastened to a pipe in the middle of a soggy, gravely lot near Wakita in northwestern Oklahoma.
The tangle of valves and fittings, called the Christmas tree, has to come off before Jay Storm’s crew can start their work in earnest.
“Everything is a little seized up this morning, so we’re having to manually try to get a couple different components separated by hand,” says Storm, completions supervisor for Tulsa-based Eagle Energy Exploration.
America's wildest wildcatter, Aubrey McClendon, found new life - and new billions - after his spectacular plunge from the top of the oil game. Trouble has already come calling. In early 2013, during his last days as CEO of Chesapeake Energy , Aubrey McClendon was one busy guy.
OKLAHOMA CITY - In the face of volumes of contrary evidence, billionaire oilman T. Boone Pickens said Friday that Oklahoma's increase in earthquakes isn't due to the energy industry, just to better monitoring.
Legislation was signed by Republican Gov. Greg Abbott after the city of Denton voted to restrict fracking. Denton officials say oil companies should not wield more power than citizens.
Editor's Note: Sharon Wilson, an organizer interviewed in this story, began advocating for fracking reform in Denton in 2009 as an unpaid citizen leader. In 2011, she was hired as a full-time organizer by the environmental group Earthworks to continue her anti-fracking work in Denton.