Hydraulic fracturing wells have been producing a tremendous amount of natural gas — far more than the current demand. Above, a Cabot Oil & Gas natural gas drill at a fracking site in South Montrose, Pa.
The practice of hydraulic fracturing — pumping fluid into underground rock to push up natural gas — has its detractors, especially among environmentalists. But it's becoming clear that whatever its drawbacks, "fracking," as it's called, is producing a lot of gas — maybe too much gas.
Fracking was once a small part of the natural gas industry, a technique to get hard-to-reach deposits in underground shale. Then the technology improved, and the dinner bell rang. Everybody wanted in. Now there's so much gas on the market that the price is at a 10-year low.
Kano, the largest city in Nigeria's Muslim north, is an ancient, sprawling city of more than 9 million. Last Friday, the Muslim day of prayers was shattered by a series of coordinated bomb blasts.
Just down the street from one of the main market areas in the city, the street remains blocked off from a police station hit in the attacks. The radical Islamist sect Boko Haram claimed responsibility.
Sagir Ali, a security guard at a parking lot at the market, says he watched as nearby government offices were attacked.
Fishing boats are seen in front of oil tankers on the Persian Gulf waters, south of the Strait of Hormuz. The European Union has announced plans to join U.S. efforts to slow the flow of oil from Iran, the world's third largest exporter.
In an effort to bring Iran to the negotiating table over its nuclear program through economic pain, both the U.S. and the European Union have imposed sanctions that should make it harder for Iran to sell its oil. But the global oil business is unpredictable, and sanctions are no guarantee.