Latest Energy Headlines
All the headlines from our Energy Topic Page, ordered by recency.
Ferocious Hurricane Ike in Gulf of Mexico, Headed for Texas
Sep 11 2008 // Hurricane Ike gathered strength as it churned through the Gulf of Mexico’s warm waters Thursday on a track that would skirt the heart of the U.S. offshore oil patch before slamming into the Texas coast late Friday or...
Insurers Estimate Gustav Claims as HIgh as $10 Billion
Sep 4 2008 // Residential and commercial damages from Hurricane Gustav will trigger an estimated $4 billion to $10 billion in insurance claims, a third of which could affect the energy industry. While Gustav’s force paled in...
Gustav only Sideswipes New Orleans
Sep 3 2008 // New Orleans can get back to its comeback. Traumatized after losing their homes when Hurricane Katrina’s floodwaters broke through the levees that protect this city, Hurricane Gustav ended up a mere interruption in...
As Gustav Winds Down, New Orleans Eyes Damage
Sep 2 2008 // A still-largely deserted New Orleans Tuesday prepared to take stock of damage from Hurricane Gustav after rebuilt levees appeared to hold off a repeat of the flooding caused by Katrina three years earlier. Gustav roared...
Estimate of Insured Losses from Gustav Between $2 and $4.5 Billion
Sep 2 2008 // One risk modeling firm estimates that insured losses to onshore properties in the U.S. are between $2 billion and $4.5 billion, with an expected loss of $3 billion due to Hurricane Gustav. According to AIR Worldwide...
Oil Industry Battens Down As Gustav Threatens Gulf
Aug 28 2008 // Oil companies ramped up preparations to evacuate some facilities as Hurricane Gustav made its way toward the U.S. Gulf of Mexico, becoming a potential threat to the region’s extensive oil and natural gas...
International Chamber of Commerce is Pessimistic on Global Economy
Aug 21 2008 // The International Chamber of Commerce (ICC) reported from its Paris office that its “ICC/Ifo global climate index in July fell for the fourth consecutive quarter in a row since sentiment became downbeat last summer,...
Thousands of Federally Placed Underground Fuel Tanks Could Leak
Aug 14 2008 // The government owns hundreds of underground fuel tanks — many designed for emergencies back in the Cold War — that need to be inspected for leaks of hazardous substances that could make local water...
Hearing Examines Wreck That Caused New Orleans Oil Spill
Aug 13 2008 // Storms in New Orleans halted work to clean up oil spilled along the Mississippi River as the Coast Guard prepared Aug. 11 for a hearing about who is to blame for the wreck that caused the spill in late July. Officials...
On a Roll, Oklahoma Expected to Add Jobs This Year
Aug 8 2008 // Oklahoma added 22,500 jobs last year as the energy sector fueled an employment growth rate of 1.4 percent, sixth highest among all states, according to a newly released report. “We’re growing 1 percent faster...
Storm Edouard Shuts Gulf Coast Oil Port, Disrupts Shipping
Aug 4 2008 // Tropical Storm Edouard forced shut a huge U.S. offshore oil port, a refinery, some oil production and disrupted shipping as the storm raced toward the Texas-Louisiana coast Monday. Energy companies evacuated staff from...
Flooding in Indianapolis’ Lucas Oil Stadium Adds $5.6M to Cost
Jul 30 2008 // Flooding in Indianapolis’ Lucas Oil Stadium is expected to add more than $5 million to the cost of the new home of the Indianapolis Colts, officials said. The Indiana Stadium and Convention Building Authority...
Oil and Gas Group Earns $2.9M Texas Mutual Dividend
Jul 11 2008 // Texas Mutual Insurance Company announced a $2,903,340 dividend to the Texas Oil & Gas Association (TxOGA) workers’ compensation group discount program. The dividend was based largely on the group’s premium...
Supreme Court Rules $2.5 Billion Exxon-Valdez Damages Excessive
Jun 25 2008 // The Supreme Court Wednesday overturned the record $2.5 billion in punitive damages that Exxon Mobil Corp had been ordered to pay for the 1989 Exxon Valdez oil spill off Alaska. The nation’s highest court ruled that...
Montana High Court Rejects Compensation Board’s Lawsuits
Jun 9 2008 // The Montana Supreme Court has upheld a lower court’s rulings against the state Petroleum Tank Release Compensation Board. The board had sued four insurance companies for compensation for more than $2 million in...
International Energy Agency Urges $45 trillion ‘Energy Revolution’ to Halve CO2
Jun 6 2008 // World governments must quickly start a $45 trillion “energy technology revolution” that could drive up the cost of producing carbon ten-fold, or risk emissions surging by 2050, the West’s energy watchdog...
Willis Risk Manager Conference Examines Brazil, China Energy Sector
Jun 4 2008 // Willis recently hosted a conference of senior risk managers from the US oil and gas industry at its inaugural Global Risk Challenge seminar in Houston. They concentrated on finding out more about some of the major...
Insurance Companies Face Global Warming Claims
Jun 2 2008 // Corporations exposed to liability for greenhouse gas emissions The industry is about to enter an era of global warming insurance claims. Scientists have been warning about the impact global warming could have if greenhouse...
Marsh Reports on Power and Utility Companies’ Captives
May 29 2008 // Marsh has released a “benchmarking” report examining the use of captive insurance companies by power and utility companies in four regions: the US; Europe, the Middle East and Africa (EMEA); and, Asia...
Burn Victim Sues Owner of Tennessee Oil Well that Exploded
May 12 2008 // A man who was seriously burned when an Anderson County, Tenn. oil well exploded as he was driving past is suing the company and its owner for $4.5 million, claiming negligence. The well near Oliver Springs, Tenn., ignited...
