Petrochemical

Large hoses lead from one hydraulic fracking drill site to another as horses graze in a Midland, Texas field.
Photograph: Pat Sullivan/AP

reuters.com - by Anna Driver and Terry Wade - May 18, 2015

Texas Governor Greg Abbott on Monday signed a bill into law that prohibits cities and towns from banning an oil drilling practice known as hydraulic fracking, giving the state sole authority over oil and gas regulation.

Lawmakers in Texas, a state that is home to the two of the most productive U.S. shale oil fields, have been under pressure to halt an anti-fracking movement since November, when voters in the town of Denton voted to ban the oil and gas extraction technique.

(READ COMPLETE ARTICLE)

(ALSO SEE RELATED ARTICLE HERE)

FILE - In this Tuesday, Oct. 14, 2014, file photo, oil pumps work at sunset in the desert oil fields of Sakhir, Bahrain. Oil prices have further to drop with no signs of slowing production in the U.S., according to the International Energy Agency, Friday, March 13, 2015. (AP Photo/Hasan Jamali, File) - Associated Press

ABC News - AP - March 13, 2015

Oil prices have further to drop with few signs of slowing production in the U.S., according to a global energy agency.

The International Energy Agency, a watchdog group based in Paris that represents the world's main oil-importing nations, said in its monthly report Friday that the recent stabilization in oil prices is "precarious."

"Behind the facade of stability, the rebalancing triggered by the price collapse has yet to run its course," it said.

That may be playing out right now. Oil prices tumbled 10 percent this week, including a 5 percent drop Friday.

The IEA cautioned that risks of oil supply disruptions are growing. Low prices could raise the risk of social disruption in some countries dependent on oil, the agency said, and the ongoing conflict in Iraq and Libya hasn't slowed down.

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.

Workers from the United Steelworkers (USW) union walk a picket line outside the Lyondell-Basell refinery in Houston, Texas February 1, 2015. REUTERS/Richard Carson

reuters.com - by Erwin Seba - February 22, 2015

(Reuters) - The largest U.S. refinery strike in 35 years entered its fourth week on Sunday as workers at 12 refineries accounting for one-fifth of national production capacity were walking picket lines.

Sources familiar with the negotiations said talks may resume by mid-week to end the walkout by 6,550 members of the United Steelworkers union (USW) at 15 plants, including the 12 refineries.

Representatives of both sides said no date has been set to restart negotiations, however.

(READ COMPLETE ARTICLE)