Andrew I. Farmer allegedly took control of Chimera Energy in secret and went about hawking $4.58 million in shares in 2012 by lying that the company was using waterless fracking technology, according to charges filed by the Securities and Exchange Commission, FuelFix reports.
The Texas Railroad Commission, the regulator in charge of the state’s oil industry, has proposed new rules governing the siting of disposal wells. The regulations were crafted by seismologist Craig Pearson, who was hired in April to address mounting concerns over earthquakes, FuelFix reports.
Stanford University researchers, presenting their work at the American Chemical Society conference in San Francisco Tuesday, said they found that fracking at the Pavillion gas field in Wyoming was taking place through sources of drinking water, although they did not report on any contamination, the Los Angeles Times reports.
A deal announced Monday by Colorado Gov. John Hickenlooper and Rep. Jared Polis to study local oil and gas siting conflicts appears to have averted an intra-party fight over controversial ballot initiatives that would have let communities ban hydraulic fracturing.
They agreed on the creation of an 18-member task force to make recommendations next year to the governor and state legislature on the regulation of the drilling practice, known as fracking, near homes, businesses and schools.
In return, Polis agreed to drop his support for the two initiatives that would amend the state constitution to set a 2,000-foot minimum setback for wells near occupied buildings, four times the current minimum, and allowed communities to set stricter drilling regulations than the state, including bans.
Despite the concerted efforts of North Carolina lawmakers to create a legal framework to get fracking going, low estimates of the state’s gas reserves mean expectations are “not that high” for attracting the interest of drillers, Mining and Energy Commission Chairman James Womack told E&E.
On the downside of Pennsylvania’s gas drilling boom, an understaffed, unprepared Department of Environmental Protection has failed to follow up on reports of contamination, hasn’t forced drillers to deal with tainted water, and has used an inspection policy that’s a quarter of a century old, according to a report from the state’s Auditor General Eugene DePasquale, Bloomberg reports.
Speculation that OPEC will agree to cut production at its meeting this week sent oil prices higher early Tuesday, although trading was light as many investors appeared to be waiting for an actual decision. West Texas Intermediate crude for January delivery gained 27 cents to $76.05 a barrel in electronic trading on the Nymex, while in London Brent was 43 cents higher at $80.11, Bloomberg reports.
American Energy, led by ex-Chesapeake Energy CEO Aubrey McClendon, is to buy 14,000 acres in West Texas from Tall City Exploration for $440 million, a move that would double the company’s footprint in the Permian Basin, FuelFix reports.
John Raymond’s Energy & Minerals group has invested some $3.2 billion in companies set up by former Chesapeake CEO Aubrey McClendon, but retains an unusual level of control over decision-making, The Wall Street Journal reports.
Nearly two-thirds of voters back Environmental Protection Agency moves to more strictly regulate air pollution, according to a poll conducted for the American Lung Association by Greenberg Quinlan Rosner Research ahead of a Dec. 1 deadline for EPA to propose new ozone standards, The Hill reports.
Environmentalists and entrepreneurs in the renewable energy sector are pushing Florida’s Public Service Commission to set tougher efficiency standards when it meets Tuesday to set targets through 2019, a move opposed by Florida Power & Light Co., the Sun Sentinel reports.
Backers of clean and renewable energy, alongside two energy experts, have filed friend-of-the-court briefs in Minnesota’s appeal of a judge’s rejection of some of its Next Generation Energy Act, which restricts the importing of coal-generated power into the state, a law challenged by North Dakota as being unconstitutional, the StarTribune reports.
High winds knocked out power to some 245,000 customers in southeastern Michigan around Ypsilanti Monday, and officials from DTE Energy Co. and CMS Energy Corp. told the Associated Press some 95,000 remained without electricity Tuesday morning.
Sandbags are protecting property and storm drains appear to be handling the runoff as a potential flood crisis seems to be easing in Buffalo as snow from the city’s massive storm melts, although forecasters warn the potential for problems remains until Wednesday, The Associated Press reports.
At its chocolate factory in Fawdon, Nestle is using an anaerobic process to get electricity from a 200 kilowatt unit designed by Clearfleau, which runs on chocolate that is out-of-date or would otherwise be discarded, National Journal reports.
A chunk of either Coal India or Oil & Natural Gas Corp. will go on the market in early December, a finance ministry official told The Wall Street Journal, as India’s government moves to raise billions of dollars to reduce its deficit by courting private investors.