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.
The Environmental Protection Agency's Inspector General has issued a strong defense of his investigation of hydraulic fracturing, ignoring a Republican request that he stop the probe and rejecting charges that the study is inappropriate and a waste of money.
"This review ls consistent with the OIG's responsibilities to oversee the programs of the EPA," wrote EPA IG Arthur Elkins, Jr., in response to a letter from a group of Republican senators. "The OIG does not consider its evaluation as a duplication of prior or ongoing work."
Oil prices appeared holding steady early Monday, as the talks over Iran’s nuclear program appeared headed for a break to be resumed next month and ahead of an OPEC meeting that will make key decisions on crude production. U.S. benchmark crude was 15 cents higher at $76.66 a barrel in electronic trading on the Nymex, while in London Brent edged up 4 cents to $80.40, Reuters reports.
In the Republican’s nationally broadcast address over the weekend, Rep. Bill Cassidy, R-La. -- who is seeking to unseat Sen. Mary Landrieu, D-La. in a December runoff election -- called on President Barack Obama to approve the Keystone XL pipeline, saying the case for the long-delayed project is “clear and obvious,” The Hill reports.
With Sen. Lisa Murkowski, R-Alaska, taking over as head of the Energy and Natural Resources Committee in the new Republican-controlled Senate, the issue of drilling in the Arctic National Wildlife Refuge is likely to be revisited, The Hill reports.
George Banks of the R Street Institute, former committee staffer for Sen. James Inhofe, R-Okla., predicts that the new Republican-controlled Congress will lift the ban on crude oil exports and push through approval of the Keystone XL pipeline, but that there won’t be a significant upsurge in bipartisanship on Capitol Hill – assessments Alison Cassady of the Center for American progress doesn’t share, The Wall Street Journal reports.
The U.S. power supply ought to be able to withstand another polar vortex should the frigid temperatures descend again this winter, although margins are shrinking and changes may be needed to the way the availability of resources is calculated, according to an assessment from the North American Electric Reliability Corporation, Platts reports.
In a year when initial public offerings for master limited partnerships raised a record $6.8 billion, analysts are warning that investments in pipeline and midstream MLPs no longer appear to offer their traditional low-risk, high-yield benefits with the same degree of consistency, The Wall Street Journal reports.
With the cost of solar and wind power dropping dramatically in recent years, the renewable energy sources are becoming more directly competitive with electricity from gas and coal-fired plants, The New York Times reports.
State legislatures have so far rejected attempts to overturn renewable energy mandates -– although Ohio this year did freeze its green energy targets -– but the Koch-founded Americans for Prosperity is continuing to pour money into the fight against them, National Journal reports.
The shale boom that has brought wealth and jobs to North Dakota is starting to be questioned by some residents concerned about health, safety and pollution costs as well as financial exploitation by major companies making moves that are backed by state regulators, The New York Times reports.