Oil and gas company Arco Petroleum said Thursday it has suffered a $2 billion loss as of the fourth quarter of this year due to a refinery shutdown.Arco, which has been under investigation by U.S. authorities for its role in the deadly 2010 Deepwater Horizon oil spill, said it expects the loss to grow to […]
Why is the world’s second largest economy producing more gasoline than it needs?According to a new study from the International Energy Agency, the answer lies in the way American manufacturers and consumers manage their energy resources.The IEA says that the average American household uses about 13 gallons of fuel per day.“The vast majority of the […]
