MEXICO CITY (AP) — Mexico's Senate on Wednesday approved the most dramatic oil reform in decades, moving the country closer to opening its beleaguered, state-run sector to private companies and investment.
The price of oil rose again Friday on signs of a stronger job market in the U.S. and finished the week with a gain of more than 5 percent.
Benchmark U.S. crude for January delivery rose 27 cents at $97.65 a barrel on the New York Mercantile Exchange. The increase for the week was $4.93 a barrel.
U.S. data showed the outlook for hiring is improving. On Friday, the Labor Department said the U.S. unemployment rate in November fell to a five-year low of 7 percent from 7.3 percent in October. Employers added 203,000 jobs last month, many in higher-paying sectors like manufacturing and construction.
The Environmental Protection Agency proposed nine sites nationwide for Superfund designation, including a New York City industrial site once used to process radioactive substances, The Associated Press reports.
Organizing for Action, the advocacy formed from President Obama's reelection campaign, has launched a petition to support the administration's recent change to the "social cost of carbon" metric used to calculate the benefit of regulations, National Journal reports.
The Senate Energy and Natural Resources Committee will consider seven nominees for positions at the Interior Department and Energy Department today, representing a major reshuffle of leadership at the departments, The Hill reports.
Navy Secretary Ray Mabus announced the branch is moving forward with an initiative with the Agriculture Department to make more regular purchases of bulk biofuels to power naval aircraft and vessels, the San Diego Union-Tribune reports.
A group of business organizations led by Seventh Generation and the American Sustainable Business Council have launched a push for serious reform to the Toxic Chemical Safety Act, saying improvements to the law being negotiated leave regulatory authority too weak, The Hill reports.
Canada's Fortis Inc., an investor-owned natural gas utility, will purchase Arizona-based UNS Energy Corp. for $2.5 billion, represents an effort by Fortis to grow its market capacity, Bloomberg reports.
Regulators in China's Guangdong province, home to one of China's carbon emissions markets, said the province may block the distribution of free carbon permits if polluters don't make minimum bids first, Reuters reports.
The European Commission is said to be planning an investigation into the U.K.'s offered price guarantee for a new EDF nuclear power plant to make sure it's consistent with European Union competition rules, Reuters reports.