For now, state geologists are finished with their research in central North Carolina.

After studying 59,000 acres in the Deep River basin for 15 years, they have concluded that Lee, Chatham and Moore counties could produce enough natural gas from shale to make North Carolina self-sufficient for 40 years at current levels of consumption.

"That's what we think," said Kenneth Taylor, chief of the N.C. Geological Survey. "We could become a net exporter." Read more »

Oil dropped below $100 per barrel after an international energy watchdog expresses "serious concern" about the negative effect of higher prices on the global economy.

Benchmark oil contract fell about 12 percent since setting a two-year high of $113.93 on April 29. The International Energy Agency says oil is still too high and is cutting into household and business incomes. The agency warns that there's "urgent need" for additional supplies to be made available to refineries. Read more »

East Texas and Northwest Louisiana residents might not realize it, but they have been sitting amid a revolution in the energy industry the past four years.

Steven Holditch, chairman of Texas A&M’s Harold Vance Department of Petroleum Engineering, told people attending the Second Annual East Texas Conference of the Texas Independent Producers and Royalty Owners this past week that the unconventional extraction of energy from deep geological formations such as the Haynesville Shale is on the forefront of using the latest in technology. Read more »

Oil settled higher on Friday May 13, 2011, pushed up by lingering concerns that refineries in the Southeast may be affected by Mississippi River flooding.

Benchmark crude for June delivery settled at $99.65 per barrel, up 68 cents on the New York Mercantile Exchange. Oil has been volatile this week, ranging from $95 to $104 a barrel.

It gained two and a half percent for the week after losing 15 percent last week. Read more »