Rice University’s Baker Institute for Public Policy paper cites economic, environmental and logistical shortcomings.

A new policy paper by Rice University’s Baker Institute for Public Policy shows a clear increase in the size and influence of noncommercial traders, or “speculators,” in the oil futures market since regulations were eased by the Commodities Futures Modernization Act of 2000.

By Jad Mouawad Oil companies may be awash in profits, but in a disturbing sign for future energy supplies, production has begun to fall at all seven of the major Western oil companies at a time when they are discovering few new fields to exploit. Part of the reason is political.

By Tom Fowler, Houston Chronicle Nov. 13--The "Big Five" oil companies are putting more money into stock buybacks and dividends than new exploration and development despite a fourfold increase in cash flow since the 1990s, according to a study by Rice University's Baker Institute for Public Policy.