Oil and gas companies across Colorado and the West are lashing out against President Obama’s proposed deficit reduction plan saying it will stifle jobs in the region. It's the latest tit for tat in the ongoing political battle over drilling on federal public lands.
Brazil's energy company, Petrobras, inaugurated a new offshore platform on June 3 in Angra dos Reis. Brazil has located major offshore oil fields and plans to greatly increase production in the coming years.
Credit Ari Versiani / AFP/Getty Images
When people say Brazil won't be the next Saudi Arabia, they mean it in a good way.
Brazil has discovered enormous oil reserves far off its coast, but the country's robust and varied economy means it shouldn't become dependent on oil.
"Brazil is not just going to be an oil exporting country," says Paulo Sotero, director of the Brazil Institute at the Woodrow Wilson Center for International Scholars. "That's not all it's going to do."
Oil and gas industry leaders say support for cleaner-burning natural gas is on the rise among policymakers in western states. But officials attending the Colorado Oil and Gas Association’s annual meeting say support for actually extracting the natural gas on western lands is another story.
Halliburton president and CEO Dave Lesar speaks at the Rocky Mountain Energy Epicenter conference in Denver Wednesday.
Oil and gas industry officials meeting in Denver say the drilling process known as hydraulic fracturing, or fracking, is a safe technology that doesn’t pollute groundwater. But they say it’s getting a bad rap among some policymakers and in the media.