This Feb. 17, 2015 file photo, shows a train derailment that sent a tanker with crude oil into the Kanawha River near Mount Carbon, W.Va. As investigators in West Virginia and Ontario pick through the wreckage from the latest pair of oil train derailments to result in massive fires, U.S. transportation officials predict many more catastrophic wrecks involving flammable fuels in coming years absent new regulations. (AP Photo/Chris Tilley,File)

nola.com - AP - by Matthew Brown and Josh Funk - February 23, 2015

BILLINGS, Mont. -- The federal government predicts that trains hauling crude oil or ethanol will derail an average of 10 times a year over the next two decades, causing more than $4 billion in damage and possibly killing hundreds of people if an accident happens in a densely populated part of the U.S.

The projection comes from a previously unreported analysis by the Department of Transportation that reviewed the risks of moving vast quantities of both fuels across the nation and through major cities. The study completed last July took on new relevance this week after a train loaded with crude derailed in West Virginia, sparked a spectacular fire and forced the evacuation of hundreds of families.

Oil pump jacks at work at a drilling site in North Dakota. Producers have been cutting back.
Credit Eric Gay/Associated Press

nytimes.com - by Clifford Krauss - January 7, 2015

HOUSTON — With oil prices plunging at an ever-quickening rate, producers are beginning to slash the number of drilling rigs around the country.

The national rig count had remained surprisingly resilient over recent months even as oil prices dropped by more than 50 percent since June, and it still tops the count of a year ago as domestic production continues to surge.

Image:  A hydraulic fracturing well in Colorado. With the technology, America is expected to surpass Saudi Arabia in oil production. Credit Brennan Linsley/Associated Press

nytimes.com - November 28th, 2014 - Clifford Krauss

Since the economically crippling oil embargo of 1973, every American president has pledged to seek and achieve energy independence.

That elusive goal may finally have arrived, at least for the foreseeable future, with the failure of Saudi Arabia and its 11 oil cartel partners in the Organization of the Petroleum Exporting Countries to agree to a production cut that would put a brake on plummeting crude prices.

On Friday, the benchmark American price for crude oil continued the free fall that began on Thursday, closing at $66.15, its lowest price in more than four years.

in.reuters.com - October 16th, 2014 - Chuck Mikolajczak

U.S. stock index futures tumbled on Thursday, after the S&P 500 closed at its lowest in six months, amid concerns about weak global demand and its potential impact on the U.S. economy and businesses.

The S&P 500 and Nasdaq briefly fell into negative territory for the year on Wednesday as the S&P tumbled more than 3 percent to a session low, before rallying late in the session. The decline was also spurred by worries over the spread of the deadly Ebola virus and its possible impact on the travel industry.

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