When the Deepwater Horizon oil platform exploded in late April, few expected the story to be dominating headlines almost six weeks later. However, as oil began to spill out and BP’s numerous efforts to contain the problem failed, it became increasingly clear that this would become one of the worst environmental disasters in world history. In its latest attempt, BP tried to plug the leak using a ‘top kill’ method, which sought to pump mud into the well. More than 1.2 million gallons of mud were used, but BP retreated from the plan over the weekend as it became clear that the “top kill” was not going to be successful due to most of the mud escaping out of the damaged riser. [click to continue…]
As storm clouds continue to gather over the euro zone, the repercussions of a rise in uncertainty have been felt in nearly every corner of the global economy. All assets denominated in euro have fallen out of favor. Financial stocks with exposure to European debt have been sold off. Even South American emerging markets have [...]
In recent weeks, no news story has dominated headlines as much as the ongoing saga playing out in the Gulf of Mexico, better known as the Deepwater Horizon oil spill. It has been nearly a month since an oil well blowout caused an explosion 40 miles southeast of the Louisiana coast, sparking what has already [...]
by Eric Dutram on March 31, 2010 | Updated April 2, 2010
Earlier today, President Obama announced that he is lifting bans on offshore drilling and oil and gas exploration off the Virginia coast, move likely to renew a heated debate between environmental groups and Big Oil. Obama also announced that he will be expanding lease sales for oil and gas exploration on the Atlantic seaboard. The [...]
by Andy H on October 22, 2009 | Updated May 18, 2012
Direct investment in crude oil products used to be limited to major financial institutions and oil companies themselves, but the development of the ETF industry in the U.S. has democratized the investment process in many ways, including making investments in various oil products accessible to average investors. There are a number of exchange-traded products that [...]
According to its August Atlantic Hurricane Outlook, the National Oceanic and Atmospheric Administration (NOAA) expects a “near- to below-normal Atlantic hurricane season as the calming effects of El Niño continue to develop.” After getting off to a very mild start (there has been little activity since the official June 1 start of the season), it [...]
