Oil refineries have lost capacity over recent years, making it nearly impossible to increase supply and stabilize gas prices at the pump.
Major energy companies have reported a surge in profits in the first three months of the year as oil prices have rallied.
Guyana, one of South America's poorest countries, is under severe threat by rising seas. That had made it a champion of climate action, but it all changed when ExxonMobil found oil off its waters.
A set of events shook the oil world this week: A tiny shareholder won a battle with Exxon, investors put pressure on Chevron and a Dutch court ordered Shell to slash emissions.
The Trump administration is trying to force banks to make loans to gun-makers and to finance payday lenders. Critics call the move bizarre. It's opposed by watchdog groups and banks.
An NPR and PBS Frontline investigation reveals how the oil and gas industry used the promise of recycling to sell more plastic, even when they knew it would never work on a large scale.
When the price of oil crashes, oil companies often merge and big oil gets even bigger. So this crisis could be an opportunity for companies, but it comes with a tremendous amount of uncertainty.