Russ McBee

Today, President Bush rescinded an executive order signed by his father which affirmed the ban on offshore oil drilling (with the exception of a small area off Southern California and a specific region of the Gulf of Mexico). The move was almost entirely symbolic (and political), since federal law also bans offshore drilling (except in those two ...

Following a speech in Missouri yesterday, President Bush engaged in an exceedingly rare question-and-answer session with employees of the company where he was speaking. Among other topics, he repeated his threadbare spin of ethanol as a viable fuel source: ''As you know, I'm a ethanol person,'' he said, explaining his belief that it can help ...

I'll bet Dick Cheney's head is about to explode: Iraq and China are close to re-signing a $1.2 billion oil deal that was called off after the 2003 U.S. invasion, an Iraqi Oil Ministry official said Thursday. [...] Saddam Hussein's government signed a deal with the state-owned China National Petroleum Corp. to develop the billion-barrel ...

Well, this certainly isn't a good sign: Venezuela and Iran are forging closer oil ties in hopes of reducing their dependence on the United States, inking a $4 billion deal to develop a block of the lucrative Orinoco Reserve in Venezuela. According to Venezuelan Oil and Energy Minister Rafael Ramirez, production at the Ayacucho 7 block should ...