The Democratic effort to launch S.B. 940, known as the Close Big Oil Tax Loopholes Act, would have ended tax breaks for the top five most profitable oil companies.
In Russia, the days of the country being an oil and gas powerhouse are drawing to a close due to dwindling oil production and lackluster demand for natural gas in Europe.
For years, there has been a scandalously close relationship between oil companies and the agency that regulates them.
WHITEHOUSE: Deepwater BP Oil Spill: Presidential Press Conference
This tenth trading week of 2012 comes to a close with investors keeping a close eye on oil prices and unfolding events in Greece.
The report does not rule out other possible contributors to Gulf War illness -- including low-level exposure to nerve agents and close proximity to oil well fires -- though it fails to establish any clear link.
He also estimates increased transportation costs at a dollar a barrel--another reason to keep refineries close to where crude oil is pulled from the ground.
The turmoil has driven investors to reassess their portfolios, and while many are still scratching their heads, Chan still sees further gains in 2011. (Read Oil Prices Close To Peak As High Prices Destroy Demand).
FORBES: 5% Upside For Equities Despite 'Austerity Fatigue' Hitting Global Markets
We're not even close to running out of oil, as many in the 1970s feared.
This year's prices have also fueled concern that the world may be close to running out of oil.
So the long battle to stop the leak and contain the oil is finally close to coming to an end.
More likely, say others close to Opec, the oil cartel is a differently composed, more economically sophisticated organisation than it was 25 years ago.
Shell, which discovered and started the country's oil well in the late 1950s, has been heavily criticized by activists and local communities over oil spills and close ties to government security forces.
Now, the good news is my administration has already taken several actions to step up oversight of oil markets and close dangerous loopholes that were allowing some traders to operate in the shadows.
BP, the British oil giant, is reportedly close to selling its 50% stake in Russian joint venture TNK-BP to Rosneft, the state-owned oil company.
Oil facilities in the region accounted for close to half of Sudan's entire production of about 115, 000 barrels of oil daily before wells were shut down due to the conflict.
This region could hold close to 6 billion barrels of oil that have yet to be discovered.
FORBES: Arctic Chill As Norway And Transocean Try To Offset Production Declines
Workers on a nearby oil platform were evacuated by the US authorities on Monday after the oil slick came dangerously close.
Faroe chief executive Graham Stewart said the prospect was close to a number of giant oil fields in the area.
That includes oil fields which are close to starting production, Catcher and Kraken, which will generate cash for further exploration.
For the past three years, crude oil has managed to close higher, , but a lower yearly close is likely in 2012.
I'll close by saying this: This oil spill is an unprecedented disaster.
WHITEHOUSE: Deepwater BP Oil Spill: Presidential Press Conference
Risk assessments on the next stage, to close off the valve where the oil is coming from, are still being carried out.
Hess has already announced plans sell U.S. oil storage terminals and close a New Jersey refinery as it exits the volatile refining business.
In addition, the firm had to close part of its Prudhoe Bay oil field in Alaska earlier this year, after leaks were discovered in one of its pipes.
Inefficient industries would close down, or, like oil, be privatised.
No other oil giant even comes close to this gearing.
FORBES: Three Companies Chevron Could Buy With Its $21 Billion In Cash
The widely watched SPDR Gold Trust ( GLD) dropped to its lowest level since last August, and the nearby crude oil contract was down close to 2% during the day.
Looking at how the ruble had fared in comparison to the US dollar, it certainly seemed as if, before the crisis, the ruble moved in very close tandem with the price of oil while this relationship had become substantially weaker ever since.
Despite a telephone call from Madeleine Albright, America's secretary of state, to offer her services, no progress was made on the nagging issue of how to handle the Greek-Turkish quarrels over ownership of uninhabited islands close to the Turkish coast and oil rights under the Aegean.
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