If OPEC follows through on the talk that it will cut oil production by a million barrels a day, it will send a clear signal that the cartel feels the world can handle $60 oil.But it could also undermine prices in the long run, by encouraging investments in conservation and alternative energy sources as well […]

Unbelievable as it may sound, Saudi Arabia is practically applauding the 22% plunge in global oil prices since July. On Sept. 19, Saudi Oil Minister Ali Naimi called a price of about $60 per barrel “reasonable.” Analysts think the Saudis could even live with a price in the mid-$50’s per barrel. “The Saudi price target […]

EAST DUBUQUE, Ill. — The coal in the ground in Illinois alone has more energy than all the oil in Saudi Arabia. The technology to turn that coal into fuel for cars, homes and factories is proven. And at current prices, that process could be at the vanguard of a big, new industry.
Such promise has […]

The amount of accessible oil worldwide could eventually be increased by roughly 30 percent with the help of new drilling, imaging, and oil extraction technologies, including the use of microbes, say MIT researchers. Theoretically, this number could be even higher; in a best-case scenario, the amount of oil that could be produced would double.
On average, […]