Oil rigs extract petroleum as the price of crude oil rises to nearly $120 per barrel, prompting oil companies to reopen numerous wells across the nation that were considered tapped out and unprofitable decades ago when oil sold for one-fifth the price or less, on April 25, 2008 in the …

Largest Oil and Gas Reserves Ever Assessed Found in West Texas

The U.S. Department of the Interior announced Thursday the Permian Basin’s Wolfcamp shale and Bone Spring formation spanning parts of West Texas and eastern New Mexico hold the largest potential oil and gas resources ever discovered. Federal surveyors note the Bone Spring plays could offer roughly seven times the amount of oil as the Bakken shale in North Dakota.

The Solitaire ship, that lays down an underwater natural gas pipeline in Finnish gulf, 200 km. (125 miles) west of St.Petersburg during Russian premier Vladimir Putin's visit to the ship, Russia, Monday, Sept. 20, 2010. The pipeline will link Russia's Baltic coast with that of Germany bypassing transit countries. (AP …

Cyprus, Egypt Sign Accord for Mediterranean Gas Pipeline

NICOSIA, Cyprus — Cyprus and Egypt on Wednesday signed an agreement paving the way for the Mediterranean’s first sub-sea pipeline to carry Cypriot natural gas to the Arab country for re-export to Europe.

OPEC

Marcus: Trump’s Courage Could Free U.S. from OPEC

Bernie Marcus writes that President Trump’s National Security Strategy tells us that we must “embrace energy dominance” by “unleashing our abundant energy resources,” including natural gas. If we follow that course, we could break free of the stranglehold of OPEC.

FILE - This June 27, 2017, file photo shows an oil rig at sunset in Midland, Texas. President Donald Trump relentlessly congratulates himself for the healthy state of the U.S. economy, with its steady growth, low unemployment, busier factories and confident consumers. But in the year since Trump’s inauguration, most …

Saudis Planning $10B Investment in Texas

Saudi oil executives inked multi-billion dollar deals with companies to explore building petrochemical facilities along the Texas Gulf Coast. Essentially, they hope to capitalize on the U.S. oil and gas boom, largely fueled by shale drilling in the Permian Basin.

The Solitaire ship, that lays down an underwater natural gas pipeline in Finnish gulf, 200 km. (125 miles) west of St.Petersburg during Russian premier Vladimir Putin's visit to the ship, Russia, Monday, Sept. 20, 2010. The pipeline will link Russia's Baltic coast with that of Germany bypassing transit countries. (AP …

Israel, European Nations to Ink Gas Pipeline Deal

Israel and European nations will sign a memorandum of understanding on Tuesday to advance the construction of the world’s longest underwater gas pipeline, the financial news outlet Globes reported.

AP Photo

Wealthiest U.S. County Located in Texas

When one thinks of the richest regions of the United States, the opulence of Rodeo Drive in Beverly Hills, the high-end lifestyle of New York’s Tribeca, and the high-tech high life of the Silicon Valley may come to mind, but when ranking the wealthiest counties in the nation, the top spot went to an unassuming, small, south Texas locale.

Ivanpah (Joel Pollak / Breitbart News)

Solar Inconvenient Truth: Ivanpah Plant a Big Fossil Fuel User

The BrightSource Ivanpah Solar Electric Generating Facility, which uses 320,000 mirrors to create thermal energy, still qualifies under state rules as an alternative energy source, despite using about 1.4 billion cubic feet of natural gas a year, according to a report by the Press Telegram.

Javad Zarif laughs at you (Carlos Barria / AFP / Getty)

Iran Adopting ‘Art of the Deal’ Strategy as Trump Takes Office

Iran is adopting Donald Trump’s Art of the Deal strategy by scrambling to sign Western energy deals as bargaining chips before confronting the President-elect, who once called the Iran nuclear deal “one of the worst deals ever made by any country in history.”