Oil pump jacks in Williston, N.D., in December. Oil prices have been on the rise, but some analysts say the global economic slowdown, fracking and the rise of alternative energy will mean less demand and lower prices. Eric Gay/AP hide caption

itoggle caption Eric Gay/AP

Firefighters douse blazes after a freight train loaded with oil derailed in Lac-Mégantic in Canada's Quebec province on July 6, 2013, sparking explosions that engulfed about 30 buildings in fire. AFP/Getty Images hide caption

itoggle caption AFP/Getty Images

A flag bearing the logo of Royal Dutch Shell flies outside the head office in The Hague, Netherlands. The energy company said Wednesday that it has agreed to buy gas producer BG Group for $70 billion. Peter Dejong/AP hide caption

itoggle caption Peter Dejong/AP

Iranian oil workers gather at an oil refinery south of the capital Tehran, Dec. 22, 2014. Iran's oil exports have been crippled by sanctions. Vahid Salemi/AP hide caption

itoggle caption Vahid Salemi/AP

Yemenis walk past near oil tankers that were burnt during clashes between Shiite Houthi rebels and their opponents in the capital, Sanaa, in September. Saudi Arabia launched airstrikes this week to counter the Houthis' offensive. Mohammed Huwais/AFP/Getty Images hide caption

itoggle caption Mohammed Huwais/AFP/Getty Images

A platform owned by Mexico's state-run oil company Pemex is seen off the Bay of Campeche in the Gulf of Mexico. The country has recently opened up its energy sector to foreign investors. Victor Ruiz/Reuters/Landov hide caption

itoggle caption Victor Ruiz/Reuters/Landov

A pump-jack sits atop an oil well near downtown Sidney, Mont. The oil boom has brought thousands of new residents to the town, almost all of whom work in the Bakken oil fields in Montana and North Dakota. Sidney sits at the western edge of the Bakken oil patch, one of the most productive drilling areas in the country. David Gilkey/NPR hide caption

itoggle caption David Gilkey/NPR

Proponents of the terminal plan say it would bring economic development to the Vancouver area, just across the Columbia River from Portland, Ore. Conrad Wilson/OPB News hide caption

itoggle caption Conrad Wilson/OPB News

Opponents of fracking protested in January at the inauguration of Pennsylvania Gov. Tom Wolf. Matt Rourke/AP hide caption

itoggle caption Matt Rourke/AP

Miller Farm, the terminus of Van Syckel's pipeline, in 1868. The oil was pumped to Miller Farm and then transported by railroad. Drake Well Museum/Courtesy of PHMC hide caption

itoggle caption Drake Well Museum/Courtesy of PHMC

Drilling rigs dot the landscape near Calumet, Okla., in April 2013. Oklahoma's economy blossomed during the domestic fracking boom, but as the price of crude oil drops, that could change. Sue Ogrocki/AP hide caption

itoggle caption Sue Ogrocki/AP

An oil well in Garden City, Texas. With prices plunging, oil companies are laying off thousands of workers. Spencer Platt/Getty Images hide caption

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Libya's oil terminals — like the Brega refinery and oil terminal, pictured in March 11, 2014 — are being fought over by militias and by the nation's two rival governments. The conflict is drying up production, and may have a devastating impact on the nation's battered economy. Abdullah Doma/AFP/Getty Images hide caption

itoggle caption Abdullah Doma/AFP/Getty Images

Tracy Perryman is production manager for his family's small oil company in Luling, Texas. B.J.P. Inc. owns 116 wells that, combined, produce about 100 barrels a day. John Burnett/NPR hide caption

itoggle caption John Burnett/NPR

Tankers are berthed beside the Fawley oil refinery on Jan. 7, in Southampton, England. With low oil prices, some traders are buying oil and storing it in tankers, hoping the price will rise soon so they can sell it at a profit. Matt Cardy/Getty Images hide caption

itoggle caption Matt Cardy/Getty Images

An excavator loads a truck with oil sands at the Suncor mine near the town of Fort McMurray in Alberta, Canada in 2009. Environmental groups that oppose oil sands mining have pointed to delayed and canceled projects as a sign of recent success. Mark Ralston/AFP/Getty Images hide caption

itoggle caption Mark Ralston/AFP/Getty Images

President Vladimir Putin speaks in Moscow on Dec. 23. Russia's current economic crisis stems from Western sanctions and diving oil prices. Maxim Shipenkov/AFP/Getty Images hide caption

itoggle caption Maxim Shipenkov/AFP/Getty Images