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Tag Archives: oil

U.S. seen exceeding Saudi oil production by 2020

The United States will become the world’s largest oil producer by around 2020, temporarily overtaking Saudi Arabia, as new exploration technologies help find more resources, the International Energy Agency forecast on Monday. In its World Energy Outlook, the energy watchdog ...

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Top court hears Exxon cases

Maryland’s top court Monday will hear Exxon Mobil Corp.’s appeals of awards totaling more than $1.5 billion to two sets of Jacksonville residents who sued the oil giant over a massive 2006 gasoline leak, saying it poisoned their water, instilled in them a fear of contracting cancer and reduced the value of their homes to nothing.

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Storm’s cost may hit $50B; rebuilding to ease blow

WASHINGTON — Superstorm Sandy will end up causing about $20 billion in property damages and $10 billion to $30 billion more in lost business, according to IHS Global Insight, a forecasting firm. In the long run, the devastation the storm ...

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U.S. oil production boom surprising experts

NEW YORK — U.S. oil output is surging so fast that the United States could soon overtake Saudi Arabia as the world’s biggest producer. Driven by high prices and new drilling methods, U.S. production of crude and other liquid hydrocarbons ...

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