Eighteen oil and natural gas companies had reported their third quarter 2009 earnings as of yesterday afternoon, and the results have been a mixed bag. Companies that focus on oil and natural gas production--also called the upstream sector of the business--experienced a better financial quarter than large integrated companies that have both upstream and downstream operations--refining and marketing. The companies that fared worst are in the downstream portion of the business, and some of them actually lost money.

The chart below puts the companies' earnings in perspective.

The Senate Environment and Public Works Committee today voted to send the Kerry-Boxer climate bill to the Senate floor without amendments. Only Democrats were in attendance for the vote, and Sen. Max Baucus (D-Mt.) voted against the bill, saying he would withhold his support contingent on the adoption of some pro-agriculture amendments.

A recent poll shows that the more Americans learn about climate legislation, the less they like it. Especially when they realize that it will take money out of their pockets.

How much money? About $2,300 per year per average U.S. household, according to the American Farm Bureau. That's nearly $200 a month.

Did you know that the United States has largest energy resources on Earth? You might be surprised to learn that a recent Congressional Research Service (CRS) report found just that.

The United States with its 1,321 billion barrels of oil equivalent (BOE) tops number 2 Russia with 1,248 billion BOE, and number 3 Saudi Arabia with 543 billion BOE.

In this episode, I interview Alan Gelder of Wood Mackenzie, who recently conducted a study on the potential impact of climate change legislation on refiners.