...and I'll recommend it again:
The Oil Drum
This site is especially interesting in light of the ongoing oil spill in the Gulf of Mexico. The Oil Drum goes into a little more depth than most of the news sites: as an example, see today's post: What Caused the Deepwater Horizon Disaster? Don't forget to read the comments section, where a number of experts in the oil industry (and non-experts too) are engaged in discussion.