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AP Photo/Gene J. Puskar

Devon Energy Laying Off 700 Workers in Oklahoma City

The crashing price of oil may be good for Americans on the road, but in some cases, it is bad for their jobs. As the price of oil collapses, jobs in Oklahoma City are now being lost, as Devon Energy Corp. has announced it is shedding up to 700 jobs.

AP/Rich Pedroncelli

Gas Below $2 in California

In the Bay Area, gas prices have dropped under $2 a gallon–a low price not seen in years.

Chevron Sign and Flag Elaine ThompsonAP

Chevron Plans to Cut 7,000 Jobs

Chevron plans to cut up to 7,000 jobs for the next two years due to low oil prices. Capital and exploratory projects will be delayed as well.

Jerry Brown, Kevin de Leon, Loni Atkins

Jerry Brown Dodges Tax Questions

On Wednesday, California Governor Jerry Brown evaded questions about whether he would raise taxes to pay for new road repairs. Some Democratic leaders have urged raising taxes on gas or cigarettes. But Brown remained mum on any tax hike, saying coyly, “I’m

Debate over Bill to Halve Gas Use in CA

The Clean Energy and Pollution Reduction Act of 2015, SB 350, which would force petroleum use in California cars and trucks to be cut in half by 2030, is snaking through the California State Assembly toward a vote, prompting acrimonious debate between supporters and opponents.

AP Photo/Lynne Sladky

Nuclear Deal with Iran Could Lower Gas Prices

Iran, which has had its oil exports restricted between 2012 and 2014 by economic sanctions so its exports were virtually cut in half, would likely increase its imports if the U.S. and the other P5+1 nations make a deal regarding Iran’s nuclear program. Their increased exports might cause American gas prices to dip, leaving consumers happier until the Iranian nuclear program becomes operational.

Joshua Lott/Getty Images/AFP

U.S. Oil Prices Fall Below 50 Dollars a Barrel

For the first time since 2009, the price of United States oil fell below $50 a barrel, and Brent crude (West Texas Intermediate crude) fell to a five-and-a-half year low of $51.12 per barrel. That statistic is in great part due to fracking and a global excess in oil supply, combined with OPEC’s refusal to slow its production.

AP Photo/Ross D. Franklin

Gas Still Not Cheap by Historical Standards

The recent plunge in gas prices has been welcome relief for many, but today’s price at the pump still isn’t what it used to be in nominal and inflation-adjusted real terms, reports the Wall Street Journal.