Prices of goods imported into the U.S. dropped in November for the first time in four months on cheaper crude oil and business equipment.

The 0.9 percent decline in the import-price index was more than forecast and followed a revised 0.3 percent increase in October that was smaller than initially estimated, the Labor Department reported today in Washington. The median forecast of 44 economists in a Bloomberg survey called for a 0.5 percent decrease. Prices excluding fuels fell 0.2 percent. Read more »

Mining company Freeport-McMoRan is buying a pair of oil and gas producers for $9 billion, creating a natural resources conglomerate with assets ranging from oil rigs in the Gulf of Mexico to mines in Indonesia.

Freeport-McMoRan, based in Phoenix, is paying $6.9 billion in cash and stock for Plains Exploration & Production Co., and $2.1 billion for McMoRan Exploration Co. Freeport will also assume $11 billion in debt in the deal. Read more »

Much has been written about the Marcellus shales, the largest shale gas field in the US.  The rapid drilling program has been responsible for a supply glut, which drove spot prices down this year as low as $2.00 per mmBtu.  Since then, prices have recovered somewhat, to the $3.75 range.  Until recently, it has been hard to get a good view of the supply side dynamics.  This is largely because the shale phenomenon is so new that things have taken a while to sort out and for equilibriums to become established.  We are now beginning to get a clearer picture. Read more »

The New Brunswick government is proposing 116 different changes to the regulatory framework that oversees the oil and gas industry and in particular the controversial process of hydraulic fracturing.

Natural Resources Minister Bruce Northrup and Environment Minister Bruce Fitch unveiled the changes to the rules governing the oil and gas industry in the legislative assembly on Thursday. Read more »