All Energy Voices

Halliburton and Baker Hughes join forces amid plummeting oil prices; Debate over Keystone XL resurfaces in Congress; The US and China reach a groundbreaking climate deal. Catch up on the latest in global energy with Recharge.

US President Obama and Chinese President Xi Jinping announced commitments this week aimed at stemming climate-warming carbon emissions. But observers wonder if those goals are realistic, and if they're ambitious enough to make a difference.

Oil prices may be low now, but don't bank on cheap prices forever. The International Energy Agency's latest report indicates that demand will rebound significantly, and the supply side will have difficulty keeping up.

The new natural gas deal between China and Russia is lopsided in China's favor. Western sanctions, plunging oil prices, and a plummeting currency all put Russia at a bargaining disadvantage vis-à-vis China.

Watch out, US shale boom: Plummeting oil prices are challenging the economics of expensive shale drilling. Low oil prices make shale drilling less profitable, and some oil companies are paring back spending and drilling plans as a result. 

More than a hundred birds died in Alberta oil sands waste ponds last week, raising questions about whether oil companies in Canada are doing enough to protect wildlife. 

Republicans won the Senate in last week's midterm elections, setting the stage for pro-oil and gas legislation and a fight over Obama's clean power plan. The International Panel on Climate Change released a report describing "severe, widespread, and irreversible impacts" of climate change. Tumbling oil prices threaten Saudi Arabia's profits and the US's shale boom.

Republicans captured the Senate in Tuesday's elections, setting the stage for the GOP to push major energy issues – including approval of the Keystone XL pipeline. And with support from moderate Senate Democrats, Keystone likely has the support to make it through Congress.

The goal of curbing global greenhouse gas emissions can sometimes appear at odds with efforts to expand electricity access to the 1.3 billion around the world without it. But it is feasible to make progress on both fronts, write Goolman and Nicholson, so long as policymakers aim high. 

The swift decline in oil prices has the media buzzing about an oil supply glut, Cobb writes. But can oil – which now trades at eight times its price during 1998's glut – be said to be experiencing an oil glut now?

Automakers Hyundai and Kia underestimated the mileage for more than 1 million of its vehicles, landing their parent company a $100 million fine. But the Hyundai Motor Group will also have to give up greenhouse gas credits valued at more than $200 million.

Environmental groups dropped tens of millions to influence the midterm elections. And while they didn't keep the Senate blue, green groups hope they've made inroads with the GOP, and have elevated the profile of climate change and clean energy in American politics.

Oil prices keep dropping and oil companies in the US and abroad are beginning to adjust their plans for a bear market. A fall in oil prices is a relief for US drivers, but it is very bad news for domestic producers that rely on high prices to keep oil flowing.

If Republicans win the US Senate in Tuesday's midterm elections, it's likely the party will move to open up Arctic drilling for oil. The controversial issue has come back in this year's midterm elections in Alaska. 

From Georgia to Wyoming, regulators in coal-dependent states are cutting emissions to meet EPA's Clean Power Plan. The plan calls for emissions cuts of 30 percent, although states have considerable flexibility to reach that goal. 

In short: No, President Obama is not manipulating gas prices, Rapier writes. And yet, speculation of executive tinkering with gas markets always comes into play when elections roll around. Here's the real reason gas prices tend to fall during election seasons.

The midterm election in Ohio is a referendum on the future of fracking in the state. Gov. John Kasich of Ohio appears poised to win re-election on a promise of expanded oil and gas drilling coupled with increased taxes on the industry. 

A government report says US oil exports could actually benefit domestic consumers. Ukraine, Russia, and the EU avoid a humanitarian crisis by forging a deal to resupply Ukraine with Russian gas. Meanwhile, solar power prices keep on plunging. Catch up on the week in global energy with Recharge.

Gas prices have fallen to the lowest levels since December 2010. Cheap prices at the pump are the result of a glut of oil in the global market, which has driven crude oil prices down significantly over the last several months. 

Oil prices continue to drop, energy companies are taking on large amounts of debt, and some call into question rosy projections about a long-term US shale boom. Should we be concerned about the future of American oil and gas?