Gas prices rise despite surging U.S. oil output

Ted Evanoff, USA TODAY NETWORK – Tennessee

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BP's profits more than doubled in 2017 to $6.2 billion powered by higher prices and output of oil and gas, allowing the company to resume share buybacks as it recovers from a three-year downturn. Sonia Legg reports Video provided by Reuters Newslook. From Texas to the Dakotas, oil output has surged, ranking America once again among the world’s top energy producers. But, the boom hasn’t stopped rising gasoline prices.

EIA's Annual Energy Outlook 2018 with projections to 2050

Energy Information Administration - EIA - Official Energy Statistics from the U.S. Government

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EIA’s Annual Energy Outlook provides modeled projections of domestic energy markets through 2050, and it includes cases with different assumptions regarding macroeconomic growth, world oil prices, technological progress, and energy policies. Strong domestic production coupled with relatively flat energy demand allows the United States to become a net energy exporter over the projection period in most cases. In the Reference case, natural gas consumption grows the most on an absolute basis, and nonhydroelectric renewables grow the most on a percentage basis.

Largest East Coast oil refinery goes bankrupt, blaming 'broken' EPA rules

Philadelphia Energy, which agreed to a chapter 11 plan with its top lenders, hopes to gain judicial approval for its reorganization plan by the end of February

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The largest oil refinery along the U.S. East Coast filed for bankruptcy protection on Sunday, blaming its downfall on "broken" environmental rules.

Baywatch 2018? Downtime for Key Refinery Could Ignite RBOB Futures Fuse

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In the celebrated, but widely panned, TV series "Baywatch," there was little room for plot but plenty of glossy slow-motion action that tracked fetching lifeguards patrolling a crowded recreational beach. A subsequent movie bombed, but now the oil industry's version of Baywatch is about to launch. In this case, the eyes won't be focused on slow motion red swimsuits, but instead on the pace of blue collar workers at perhaps the most strategically located refinery in all North America.

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