There is mounting evidence that fracking can cause seismic temblors thousands of miles from the site, King writes. The fracking is not the culprit but rather the disposal of the brine used to do it.
Oil prices spiked above $102 a barrel Wednesday as protesters poured into the streets of Cairo and the Egyptian military ousted President Mohammed Morsi. Egypt is critical to regional oil transportation and has investors worried that protests could spread elsewhere in the region.
Ongoing protests have forced the closure of two export terminals and an entire oil field in Libya, causing a drop in the country's oil production. Gains in production elsewhere may mean a long road ahead for oil in Libya.
The debate over shipping oil via pipelines versus rail hinges on access, price and reliability, Graeber writes. For now, it seems trains are winning the race, but what happens long-term with more pipeline access remains to be seen.
Oil production is surging in the US, sending supply shockwaves through world markets. The US could become the world leader in more ways than one, Graeber writes, but only if it opens its oil spigot.
The benefits of the North American oil boom on this side of the Atlantic are well-documented – and the same technologies might help developing nations. But Europe's energy industry, which separately became a target of a price-fixing investigation, could emerge as a loser.
Nigeria relies almost exclusively on its energy sector for export earnings and 75 percent of federal government revenue, Graeber writes, but a long record of corruption, militancy and banditry has clouded Nigeria's oil prospects.
Even though production of oil from new fields in the U.S. is booming, there is a consistent decline in production from old fields around the world, and OPEC members have not increased production. Meanwhile, though demand for oil is falling in the US, it continues to grow around the world.
This week’s round-up of Good Reads includes the question "What if we never run out of oil?", a profile of African wealth divides, the 'Occupy Wall Street' movement's failure to leave a lasting imprint, and a profile of the Tsarnaev family.
In a lackluster economy, there hasn't been much from OPEC members to suggest there was any sort of revival, Graeber writes. But with seven of the 12 members of the cartel experiencing at least some form of upheaval, the cost of doing business suggests members may need more than a little bit of luck to return to glory.