Energy Sector

Federal Officials Dedicate Miles of New York Coast for Developing Wind Power Project

Federal Officials Dedicate Miles of New York Coast for Developing Wind Power Pro

On Wednesday, hundred and twenty five square miles or more was dedicated for the development of commercial wind energy in the waters off the coast of Long Island by the Federal officials. That marks an added effort towards moving closer to renewable energy proposal that was initially created by New York utilities.

U.S Rigs Exploring Oil and Natural Gas Drop to an All Time Low This Week

U.S Rigs Exploring Oil and Natural Gas Drop to an All Time Low This WeekDropping to its record low of 480, the U. S oil and natural gas rigs in the U. S. dropped by nine this week.

Cabot Oil & Gas Co has to Pay $4.2 Million in Damages to Pennsylvania Families in Fracking Lawsuit

Cabot Oil & Gas Co has to Pay $4.2 Million in Damages to Pennsylvania Families i

On Thursday, in a ruling a federal jury said that Cabot Oil & Gas Co will pay approximately $4.25 million in damages to two couples and their children in northeastern Pennsylvania. The plaintiffs alleged that fracking operations conducted by the company contaminated their ground water.

Brent Oil Future Slipped a Little on Tuesday but Held Over $40

Brent Oil Future Slipped a Little on Tuesday but Held Over $40

In the previous session, gaining the highest level of 2016, Brent crude oil prices dropped on Tuesday. However, it continued to remain above $40 a barrel as more number of producers announced discussion to support the market with investors betting that oil price will rise further.

On Tuesday, the International benchmark Brent crude futures defended $40 per barrel during the early trading hours at $40.51around
0154 GMT. It was 33 cents below the previous settlement.

Gasoline Prices Continue to Climb across California

Gasoline Prices Continue to Climb across California

Keeping with the trends that the experts had predicted, gasoline prices are rising across California.

On Monday, the average retail gasoline prices in San Bernardino County climbed 4.5 cents a gallon compared to last week touching an average of $2.41 a gallon. According to GasBuddy. com, the national average has gone up 3.7 cents a gallon last week to $1.74.

Scientists say Aliso Canyon Methane leak was the Biggest in the History of United States

Scientists say Aliso Canyon Methane leak was the Biggest in the History of Unite

On Thursday, researchers reported that the methane leak which continued for months at the Aliso Canyon storage field was the largest known accidental natural gas release, in the history of the United States. The incident forced thousands of residents in the surrounding areas to leave their homes. According to the scientists, the massive methane release equals almost to the emissions from about 600,000 cars on a yearly basis.

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