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Oil has fallen by nearly half, to recession levels, as US economy improves

...spending, which together could outweigh the economic benefits of cheaper fuel. PRODUCERS' PAINFor oil companies, oil-producing states, and oil-exporting countries, the oil price collapse is painful.BP announced last week it would try to...

http://chronicle.augusta.com/news/business/2014-12-15/oil-has-fallen-nearly-half
Gas prices falling, headed below $3 in much of US

...oil prices is a surprise. Despite increasing violence and turmoil in the Middle East, the world's most important oil-producing region, the global price of oil has fallen to $97 a barrel, close to its lowest level in more than two years...

http://chronicle.augusta.com/news/business/2014-09-25/gas-prices-falling-headed-
Drill toward the future

...short run.In the long term, America figures to be held captive longer than the Iranian hostages of the '70s to oil-producing nations that, understatedly, do not have our best interests at heart. And what happens if the current unrest in...

http://chronicle.augusta.com/opinion/editorials/2011-03-02/drill-toward-future
Editorials
Oil executives defend tax breaks

...all oil and gas companies, raising about $44 billion over the next decade.Lawmakers, including Democrats from oil-producing states, complained that Obama's proposal would raise taxes on many small and medium-sized businesses involved...

http://chronicle.augusta.com/news/business/2011-05-12/oil-executives-defend-tax-
Business
OPEC split over increasing oil production

...Wednesday's session are making decisions difficult.The unrest in Libya and Yemen threatens to destabilize larger oil-producing nations in the region. The two countries normally produce less than 4 percent of the world's oil needs, and Saudi...

http://chronicle.augusta.com/news/business/2011-06-07/opec-split-over-increasing
Oil rises as OPEC maintains output

...barrels per day.The oil market has been worried for months that unrest in Libya and Yemen could destabilize larger oil-producing nations in the region. The two countries normally produce less than 4 percent of the world's oil needs. Saudi...

http://chronicle.augusta.com/news/business/2011-06-08/oil-rises-opec-maintains-o
Recession risks up amid debt standoff in Congress

...goods and services. And not all spending on gas contributes to the U.S. economy because some of the money goes to oil-producing countries. GDP figures are also inflation-adjusted, so spending $1 more for a gallon doesn't mean $1 of additional...

http://chronicle.augusta.com/news/business/2011-07-29/recession-risks-amid-debt-
Despite leak in Gulf, Georgia GOP still backs drilling

...It's about jobs," he said. "It's about making sure we're less and less dependent on the thugs (in unfriendly oil-producing nations) who want to kill us."Congress continues to hold hearings to find out what caused the blowout, who's...

http://chronicle.augusta.com/news/metro/2010-06-05/despite-leak-gulf-georgia-gop
Fight rising prices

...drilling everywhere, the price of gasoline in the United States will instantly drop.It's not nearly that simple. Oil-producing nations determine the output of oil, then the laws of supply and demand kick in when the crude flows into the free...

http://chronicle.augusta.com/opinion/editorials/2012-03-25/fight-rising-prices
After 4-month surge, gas prices start falling

...still reverse themselves. Hurricanes in the Gulf of Mexico, inflamed Middle East tensions or fighting in a major oil-producing country like Iran or Nigeria could reduce supplies. A surge in world economic growth could increase demand.Gasoline...

http://chronicle.augusta.com/news/business/2012-04-20/after-4-month-surge-gas-pr