m i market energy oil petroleum News

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Obama Says He Wants Oil Producers to Boost Output

WASHINGTON -- As the high cost of gasoline takes a toll on politics and pocket books, President Barack Obama said Tuesday he is calling on major oil producers such as Saudi Arabia to increase their oil supplies to help stabilize prices, warning starkly that lack of relief would harm the global economy. "We are in a lot of...

BP Is Looking Strong a Year After Gulf Oil Spill

NEW ORLEANS -- It's hard to tell that just a year ago BP was reeling from financial havoc and an American public out for blood. The oil giant at the center of one of the world's biggest environmental crises is making strong profits again, its stock has largely rebounded, and it is paying dividends to shareholders once...

Obama: Shift From Imported Oil, New Jobs Will Come

WASHINGTON -- President Barack Obama says shifting the U.S. away from imported oil and toward cleaner forms of energy will add momentum to a trend that has led to 1.8 million new jobs in the past 13 months. Obama used his weekly radio and Internet address Saturday to promote his ideas for bringing down gasoline prices by...

Opinion: There's No Silver Bullet for High Gas Prices

American motorists can't be blamed for viewing the current jump in gasoline prices as a potential precursor to even bigger problems down the road. Major oil disruptions in the Middle East have historically led to higher inflation, unsustainable negative balances of trade and recessions -- all in addition to the aggravation...

Opinion: Why Aren't Environmentalists Cheering Higher Gas Prices?

As gasoline prices continue to rise faster than station owners can update their signs, so too have calls to do something about the problem. Some Democrats are calling on President Barack Obama to uncork the Strategic Petroleum Reserve to help ameliorate the pain at the pump. Republicans are renewing calls for more domestic...