In response to deep cuts in its budget, EIA announced that it would not be able to compile and publish products like its ongoing estimates of US oil reserves. In fact, EIA will not even be able to continue its investigation of whether speculators are driving up oil prices.
Economy & Business
"The oil giants — BP, Chevron, ConocoPhillips, Exxon Mobil, and Shell—recently released their first quarter reports. Together, the big five's profits were 38 percent higher in the first quarter of 2011 than the same period last year."
"BP Exploration (Alaska) Inc. has agreed to pay a $25 million civil fine to settle a federal lawsuit over the largest-ever oil spill on Alaska's North Slope, according to a proposal filed in U.S. District Court in Anchorage on Tuesday."
"Bolstered by soaring crude oil prices, BP reported a 17 percent increase in first quarter profit to $7.1 billion and sought to convince investors that it was coping with the costs of the massive oil spill in the Gulf of Mexico last year."
New tools provide limited information on substances used in specific wells during the oil and natural gas extraction process called hydraulic fracturing. From 2005-2009, 780 million gallons of 750 substances were injected underground — a starting point for your coverage of this angle.
"Earth Day Network and Facebook are collaborating to engage people worldwide in environmental action through the Billion Acts of Green campaign. The two organizations have created a new application to motivate people to reduce their impact on the environment."
Taxpayers can't escape paying what they owe the U.S. Treasury. But for big oil companies who owe royalties, it's another matter.
High prices for agricultural crops are driving farmers to plant more acres. Some of that land had been previously held back from planting because it is highly erodible. Changing weather patterns and inadequate enforcement of erosion protections are making things worse.