Browsing: Oil

Gas prices in Texas have surged more than 70 cents per gallon since the U.S. went to war with Iran three weeks ago. The near-total shutdown of the Strait of Hormuz has driven oil prices up more than 40%, pushing the national average to its highest point since 2023 and sending diesel past $5 for the first time in three years.

The largest U.S. military operation in the Middle East in decades unfolded as American and Israeli forces struck Iran Saturday, killing its supreme leader and triggering retaliatory strikes from the Gulf to Israel. The White House said the campaign is aimed at dismantling Iran’s military and toppling its government.

The abduction of a foreign leader was not on most students’ bingo cards for winter break. Once news headlines began appearing about Venezuelan President Nicolás Maduro and how his wife were removed from Venezuela, most people scratched their heads in confusion, wondering where the news came from and why it happened.

Unlike other historic, yet revolutionary discoveries and inventions – like fertilizer, air conditioning, or aviation – oil and gas has not been able to quietly age into an unsung hero of modern life. Instead, the industry and its nearly 11 million American workers have been villainized and rejected by the very people who reap the benefits of oil and gas.

The Obama administration floated a plan Tuesday that for the first time would open up a broad swath of the Atlantic Coast to drilling, even as it moved to restrict drilling indefinitely in environmentally-sensitive areas off Alaska.

Baylor University filed a petition in intervention in a lawsuit against Gaither Petroleum Corp., Gaither Asset Management Inc. and Orville Duane Gaither II on Jan. 12. The petition involves a Baylor-owned oil lease.