Keystone XL may nab the headlines, but underneath the push to approve the pipeline is an energy policy overhaul with even greater significance: overturning the ban on US oil exports.
Falling oil prices are just one part of a broader commodity super cycle that appears to be ending, but the oil bust has captured the attention of the world in ways crashing coal and copper prices have not. And, for now, it looks like falling oil prices are here to stay.
Keystone XL approval will soon make its way out of the GOP Congress and to the president's desk. Obama has promised to veto the bill, but it's still possible he'll approve the pipeline in a deal with congressional Republicans down the road.
Oil prices continue their downward spiral; The Obama administration pushes back on climate and energy against new Republican leadership in Congress; Global investment in renewable energy rises for the first time in years. Catch up on global energy with Recharge.
Without a rise in oil prices, 2015 is looking like a grim year for liquefied natural gas exporters.
Energy firms have been financing new oil production by taking on large amounts of debt. When oil prices averaged over $100, that strategy made sense. But with oil at $50, most indebted firms are suddenly in crisis.
Plummeting oil prices are bad news for much of Canada, which runs its economy largely on oil. But cheap oil has some positive benefits for Canadians, too.
A dramatic plunge in gas prices, combined with better gas mileage, has helped boost sales of larger vehicles in the US. But a decision to buy an SUV or truck based on low gas prices may be a shortsighted one.
High levels of oil output come at a time when the world is already oversupplied, which is making oil prices tumble. That, in turn, is forcing down the share prices of several of the oil majors.
Oil prices briefly dropped below $50 a barrel Monday for the first time in five and a half years. What's driving the oil prices plunge, and how long will it last?
Oil prices plunged by half in just six months in 2014, and the big question now is what will happen to markets in 2015. Here are the top five factors that will determine the trajectory of oil prices in 2015.
In an industry as unpredictable as energy, it's best to prepare for the unexpected. Here Kurt Cobb offers five possible surprises for energy in 2015.