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United States oil production is on the rise. In the first quarter of 2012, average domestic crude oil production topped 6 million barrels per day (bbl/day). This is the first time that U.S.

By Kathy Finn NEW ORLEANS (Reuters) - Tropical Storm Lee threatened the Louisiana coast with torrential rains and flooding on Friday and shut nearly half of U.S. offshore crude oil production and a third of its gas production.

Even if the finite nature of the resource stocks is not the only factor that influences oil prices, speculation also plays a role in this process: peak oil, that is the point in time when oil production cannot be increased despite maximum efforts, will be reached in the near to medium-term future – indeed, some analysts believe that it has already been reached.

For the second time in under a year, a large-scale energy disaster is unfolding before our eyes.

As worldwide demand for both food and biofuels increases, so does the the demand for palm oil, which can be used for both food and biofuel production. But while biofuels may cut down on CO2 emissions compared to petroleum, palm oil plantations have the nasty effect of releasing CO2 into the atmosphere--and the problem is only getting worse, according to a study from the Swiss Federal Institute of Technology and the National University of Singapore.