Energy Secretary Ernest Moniz went to North Dakota over the weekend to talk about energy infrastructure and tour oil and gas fields, but got hit with renewed calls for the Obama administration to approve the Keystone XL pipeline and allow crude oil exports.
"Here we are, using the transportation of energy as a way to control the fuel source, and that needs to end," Sen. Heidi Heitkamp, D-N.D., said Friday about the opposition to the Keystone project, during an Energy Department forum on its Quadrennial Energy Review in Bismarck.
West Texas Intermediate crude gained 31 cents Friday to close at $97.65 a barrel on the New York Mercantile Exchange, while Brent crude fell 42 cents to $105.02 as traders bet that U.S. air strikes on Islamic State militants would help stabilize the oil supply in Iraq, Bloomberg reports.
As the U.S. launched air strikes on Islamic State militants in northern Iraq, two companies with Kurdish production – Afren and Oryx Petroleum – said they were cutting back in oilfields near fighting, while Genel said it was reducing personnel in the region, Reuters reports.
Weaker-than-expected demand in the U.S. has caused OPEC to trim its yearly forecast for a second straight month -- to 1.1 million barrels of oil a day -- although its production levels increased in July despite fighting in Iraq and Libya, Reuters reports.
Oil prices spiked in the wake of the announcement from President Barack Obama that he had authorized U.S. air strikes on advancing Islamic State militants in Iraq. U.S. benchmark crude for September delivery gained 65 cents to $97.99 a barrel in electronic trading on the Nymex, while in London Brent crude was up 90 cents to $106.35, Reuters reports.
BISMARCK, N.D. (AP) — Tribal leaders on an American Indian reservation in the heart of North Dakota's booming oil patch are proposing fees for companies that burn and waste natural gas.
The Three Affiliated Tribes outlined its plan to impose fees in a six-page document sent to oil companies. In it, the tribe said companies would be required to pay royalties for "flaring" natural gas to compensate for lost revenue when the gas isn't brought to market and sold.
Oil production on the Fort Berthold Reservation accounts for about a third of the state's oil output of more than 1 million barrels a day, which has made North Dakota the second-largest oil producing state in the country behind Texas.
Republicans in Congress on Thursday pointed to a new Energy Department analysis of the strong economic growth in energy-producing states as fresh evidence in support of their calls for greater oil and gas drilling in federal areas.
The Energy Information Administration reported that of the six states where oil and gas development and mining accounted for more than 10 percent of their economy, all but one had stronger growth than the national average last year.
Concerns that advances by Islamic State militants in Iraq may signal problems for the country’s oil production finally reversed the drop in crude prices Thursday. Benchmark West Texas Intermediate for September delivery rose 42 cents to close at $97.34 a barrel on the New York Mercantile Exchange, while in London Brent crude gained 85 cents to $105.44, Bloomberg reports.
The Coast Guard has increased the liability cap – the amount a company would have to pay in the event of an oil spill in U.S. waters -- by more than 15 percent, to more than $404 million for onshore facilities, in a regulation published in the Federal Register Tuesday that's now open to a 60-day comment period, FuelFix reports.
Non-food plants that are hardy and grow quickly on marginal land are also likely to become invasive species, so scientists hunting for the next big biofuel crop -- who published a so-called white list of possibilities in the journal BioEnergy Research last month -- have to be particular, E&E reports.
Computer systems at the Nuclear Regulatory Commission were hacked three times over the past three years, with several employees clicking on a malicious link in a phishing email in one incident, NextGov reports, citing an investigation by the NRC’s inspector general.
A day before the September contract expires, West Texas Intermediate Crude slumped $1.93, or 2 percent, to settle at $94.48 a barrel on the New York Mercantile Exchange, while the October contract dropped 89 cents to $92.86. In London October Brent edged 4 cents lower to $101.56, Bloomberg reports.
Iraq is hoping to boost the output from its prolific southern oil fields – like West Qurna II, where Russian company Lukoil reported pumping 280,000 barrels a day, more than double the amount generated in March – even as fighting has hampered production in the north, The Wall Street Journal reports.
The New Jersey Board of Public Utilities has to look again at the wind farm proposed by Fishermen’s Energy that it rejected in March, in part because of a $47 million grant the Department of Energy awarded to the project in May, according to a ruling from a state appeals court, The Record reports.
The Texas transmission business Oncor may be the unit of bankrupt Energy Future Holdings most interesting to potential buyers, but the company wasn’t saying in court Tuesday how much debt is attached to the division that owns most of it, The Wall Street Journal reports.
Ticks, mosquitoes, fire ants and even poison ivy are spreading across more parts of the U.S. because of climate change, impacting Americans' outdoor experience, the National Wildlife Federation said in a new report released Tuesday, according to The Hill.