Oil and Gas

6:49am

Mon May 7, 2012
The Two-Way

Exxon Back At No. 1 On 'Fortune 500' List; Wal-Mart Knocked To No. 2

Originally published on Mon May 7, 2012 7:04 am

At an Exxon Mobil gas station in Chicago; July 29, 2010.
John Gress Getty Images

After two years in second place, Exxon Mobil is back on top of the Fortune 500.

With 2011 revenues of $452.9 billion, the oil and energy giant edged out Wal-Mart Stores, which brought in $447 billion, Fortune magazine just reported.

Wal-Mart took the top spot from Exxon Mobil two years ago and held on to it again last year. Soaring oil prices are a major factor in Exxon's move back to No. 1.

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4:25am

Mon May 7, 2012
Around the Nation

Drilling Boom Strains State Regulatory Agencies

Originally published on Mon May 7, 2012 4:34 am

Transcript

STEVE INSKEEP, HOST:

Tax revenue coming from shale, oil, and gas development has many states very happy, but the boom is also putting a strain on regulators. There are not enough of them to inspect all the drilling sites. Colorado, for example, has 17 inspectors for more the 47,000 active oil and gas wells. Kirk Siegler reports from member station KUNC.

KIRK SIEGLER, BYLINE: Each day, Jim Precobb(ph) of the Colorado Oil and Gas Conservation Commission logs about 400 miles in his state-owned truck.

JIM PRECOBB: It is absolutely staggering.

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2:15pm

Fri May 4, 2012
Energy

White House Unveils New Fracking Regulations

Originally published on Fri May 4, 2012 4:04 pm

Transcript

ROBERT SIEGEL, HOST:

The Obama administration today released a new set of rules for oil and gas drilling on public land. As NPR's Elizabeth Shogren reports, the rules are meant to keep companies from polluting water when they use the engineering technique known as fracking.

ELIZABETH SHOGREN, BYLINE: Hydraulic fracturing is what made the current drilling booms possible. Companies force hundreds of thousands of gallons of water, sand, and chemicals deep underground to open up cracks in the rock and make the oil or natural gas flow faster.

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4:51am

Thu May 3, 2012
Business

Take Over Moves By Bolivia, Argentina Angers Spain

Originally published on Thu May 3, 2012 8:31 am

Bolivia and Argentina's nationalization of Spanish companies hasn't gone over well in Madrid. Spanish officials say Bolivia and Argentina will pay the price in the long run, as investors become weary of doing business if their assets could ultimately get seized.

4:12am

Thu May 3, 2012
Around the Nation

States Looking To Make Some Taxes Less Inevitable

Oklahoma Gov. Mary Fallin proposed slashing state income tax rates this year and eventually phasing out the tax.
Sue Ogrocki AP

North Dakota may be about to go where no state has gone before. On June 12, voters will decide the fate of a ballot measure that would eliminate all property taxes in the state.

"We think it's a horse race," says Bob Harms, spokesman for a coalition of business, local government and farm groups that are opposed to the measure. "It has a real possibility of passing."

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