oil

Highly reliant on oil imports, Spain's government is encouraging oil exploration off the coast of the Canary Islands. But locals say the drilling threatens the natural attractions that draw tourists.

The long-delayed project is a jobs generator to some and an ecological disaster to others. Ahead of a key Senate vote, we revisit what the Keystone XL pipeline would do and why it's so contentious.

The U.S. is now the world's largest oil producer, and some worry that falling prices could mean an industry slowdown. But with production costs also falling, drillers are unlikely to cut back soon.

As oil prices dip, controversial and relatively expensive production methods, like oil sands and fracking, have become less profitable. Some drillers are already cutting back on plans for more wells.

Normally, the "central banker of oil" would slow production to push up prices. Not so now. Some say it's a geopolitical tactic aimed at Russia and Iran; others say it's just protecting market share.

Trains carrying oil from North Dakota pass through American towns daily — and sometimes they derail and explode. The oil industry is now under pressure to make the oil less volatile before shipping.

Much of the U.S. oil industry wants to lift a ban that followed the 1970s energy crisis. But those worried about the possibility of higher gas prices and climate change want to keep the ban in place.

South Portland, Maine, has blocked crude oil from being loaded onto ships at its port. Environmentalists are cheering, but the Portland Montreal Pipeline Corp. says the ban won't hold up in court.