A slew of global economic and geopolitical factors are working to pummel the price of oil and set up U.S. drivers for very low gasoline prices later this year.
A stronger economy, rising consumer confidence and cheap gasoline will likely have Americans traveling in big numbers this Independence Day.
If there was one thing most economists agreed on at the start of the year, it was this: Plunging oil prices would boost the U.S. economy.
It hasn’t worked out that way.
Just 3 miles from the catastrophic BP spill in the Gulf of Mexico, a Louisiana company is seeking to unlock the same oil and natural gas that turned into a deadly disaster.
Drivers who have seen a steady rise in the price of gasoline can relax: They will almost certainly be paying far less for gas this summer than they have in at least six years.
The U.S. should immediately begin a push to exploit its enormous trove of oil in the Arctic waters off of Alaska, or risk a renewed reliance on imported oil in the future, an Energy Department advisory council says in a study to be released today.
Environmentalists say allowing offshore drilling along the U.S. East Coast from northern Virginia to the Georgia-Florida border could lead to a catastrophic oil spill devastating to the crucial tourism industry.
NEW YORK — The price of oil is tumbling again, rattling an already-shaken oil industry and heralding lower prices for consumers. The price of oil
Exxon Mobil CEO Rex Tillerson expects the price of oil to remain low over the next two years because of ample global supplies and relatively weak economic growth.
The U.S. has so much crude that it is running out of places to put it, and that could drive oil and gasoline prices even lower in the coming months.