oil industry

The U.S. Israeli war with Iran has caused a major disruption to the global flow of oil. The price of crude has jumped to over $100 a barrel. But the question has been, is this a short-term problem or will this war cause the destruction of key oil production sites in the Middle East and cause long term higher prices? And can Texas oil producers meet the moment?

Global oil prices are in the high $70s as traffic through Strait of Hormuz comes to a halt. Some analysts have warned they could top $100 a barrel if the stoppage is prolonged.

Crude prices are low. Companies are being cautious. But huge reserves — particularly of the heavy, viscous oil Venezuela has in abundance — remain appealing.

Petroleum theft is a persistent problem in the state.

TPR’s Jerry Clayton talks to Randolph about the state of the oil industry, gas prices and more.

An exclusive Inside Climate News analysis found that companies have spilled nearly 150 million gallons of toxic, highly saline wastewater in Texas over the last decade.

Oil executives have mostly stopped denying climate change, but now argue that the world should not act quickly to cut fossil fuel use. In fact, last year, industry leaders slowed down climate plans.

Energy companies have been reporting blockbuster profits since last year, after Russia's invasion of Ukraine sent oil prices sharply higher.

Scientists took a dozen research flights over major U.S. oil and gas fields to sample flare emissions. They found more methane than was supposed to be there.

Experts say the oil market is volatile right now, and is likely to remain unpredictable for the foreseeable future.