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Top oil producer Russia is on course for its highest output in the post-Soviet era this year helped by new fields after a 1.1 percent rise in the first half, Energy Ministry data showed on Monday.

The average price of a gallon of gasoline in the U.S. has dropped 15 cents over the past two weeks.

According to a study published by the National Renewable Energy Laboratory (NREL), up to 80% of the power needed by the whole country could be supplied by renewable energy sources by 2050.

In April, I predicted that President Obama’s $52 million plan to increase the margin requirements and otherwise tighten the screws on oil speculators — who borrow huge sums to bet on the direction of oil without taking delivery — would cut oil prices by 10%. He’s beaten that prediction and the lowered prices of gasoline has added $78.4 billion to its consumers’ spending power.

The slowing economy could provide a bright spot for consumers: gasoline at $3 a gallon — or less — by autumn.

Investors yanked money out of stocks Thursday after new reports from the U.S. and China pointed to a sharp slowdown in manufacturing. The Dow Jones industrial plunged 251 points, the second-biggest drop this year. Losses in energy and materials companies led a widespread rout on the stock market. The Dow started sinking after 10 a.m., when the Philadelphia branch of the Federal Reserve reported a sharp contraction in manufacturing in the Northeast. The losses accelerated throughout the day.

The austere North Dakota prairie is the unlikely center of one of the biggest oil booms in decades. But will drilling here and in other domestic oil patches help the country move closer to the elusive goal of energy independence?

Falling oil prices are typically good news for airlines as fuel accounts for more than a third of their operating costs, but not all carriers are benefiting due to fuel hedging.

U.S. retail sales declined in April and May, pulled down by a sharp drop in gas prices. But even after excluding volatile gas sales, consumers barely increased their spending... Americans did spend more in May on big purchases. Sales of cars, furniture and appliances all increased. That suggests consumers may be gaining more confidence in the economy.

The average price for a gallon of regular gasoline in the United States fell 15.9 cents to $3.624 in the past three weeks due to a drop in crude oil, which took a hit from fears over Europe's economy and a stronger dollar, the Lundberg Survey showed. The national average for regular gasoline as of June 8 was down more than 11.62 cents from the year-earlier level of $3.74 a gallon, according to the survey of some 2,500 gasoline stations in the continental United States.