As oil and gas drilling continues its march into more populated areas, there’s growing pressure on Colorado lawmakers to wade into a thorny battle escalating between the state and many local governments. Several bills that would give cities and counties more authority to regulate the controversial process of hydraulic fracturing are likely to be debated this session, even though it’s long been viewed as the state’s regulatory jurisdiction. KUNC’s Kirk Siegler reports on a series of tangled court rulings that got us to this point.
The Europeans are in the midst of their most serious economic crisis in 60 years, and now they're hearing it's not just their own fate they have to consider: The whole global economy hangs in the balance.
The International Monetary Fund last week warned that if Europe's problems get any worse, it could push the entire world back into recession.
European Union leaders, meeting in Brussels on Monday, are said to be close to resolving some of their most difficult issues — and they'd better be.
Hydraulic fracturing wells have been producing a tremendous amount of natural gas — far more than the current demand. Above, a Cabot Oil & Gas natural gas drill at a fracking site in South Montrose, Pa.
The practice of hydraulic fracturing — pumping fluid into underground rock to push up natural gas — has its detractors, especially among environmentalists. But it's becoming clear that whatever its drawbacks, "fracking," as it's called, is producing a lot of gas — maybe too much gas.
Fracking was once a small part of the natural gas industry, a technique to get hard-to-reach deposits in underground shale. Then the technology improved, and the dinner bell rang. Everybody wanted in. Now there's so much gas on the market that the price is at a 10-year low.
Fishing boats are seen in front of oil tankers on the Persian Gulf waters, south of the Strait of Hormuz. The European Union has announced plans to join U.S. efforts to slow the flow of oil from Iran, the world's third largest exporter.
In an effort to bring Iran to the negotiating table over its nuclear program through economic pain, both the U.S. and the European Union have imposed sanctions that should make it harder for Iran to sell its oil. But the global oil business is unpredictable, and sanctions are no guarantee.
Natural gas is burned off next to an oil well being drilled at a site near Tioga, N.D., in August. U.S. oil production started increasing a few years ago and is predicted to continue to rise, reducing the country's dependence on oil imports.