Philip Verleger News
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Elliott Roosevelt Jr., a grandson of U.S. President Franklin Delano Roosevelt, grins and leans toward visitors in his Dallas office to describe his biggest discovery in 53 years as an oilman.
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TransCanada Corp.’s Keystone XL oil pipeline, a project backers including Republican Presidential candidate Rick Santorum say will create cheaper U.S. gasoline, instead risks raising prices as much as 20 cents a gallon in the Midwest, Great Plains and Rocky Mountains.
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Like so many investors in the spring of 2009, Gordon Wolf needed to dig out of a hole.
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BP Plc last September tapped into a new oilfield called Tiber, estimated to hold at least 3 billion barrels of crude, or six months’ worth of U.S. consumption.
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Four years ago, Barack Obama pledged to promote a green revolution, saying the government would back alternative-energy technologies that could create 5 million jobs and free the U.S. from a dependence on overseas oil tyrants.
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On the eastern bank of the Mississippi River, about an hour upstream from New Orleans, the outline of Nucor Corp.’s new $750 million iron-processing plant is rising between fields of sugar cane and sweet gum trees.
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The U.S. is the closest it has been in almost 20 years to achieving energy self-sufficiency, a goal the nation has been pursuing since the 1973 Arab oil embargo triggered a recession and led to lines at gasoline stations.
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The oil leak spreading 5,000 barrels of crude a day in the Gulf of Mexico is reshaping the politics of the energy debate as Congress considers U.S. climate policy and lawmakers brace for the November elections.
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Anecdotes are no substitute for hard data. But when they start to reach a critical mass and they all tell the same story, you know something big is going on.
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A dramatic and unexpected American oil boom is transforming pipeline networks and changing the way petroleum has flowed for decades.
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