Saudi Arabia's oil exports dropped last year and its shipments to China hit the lowest level in four years in early 2015, creating a tough challenge for the Middle East country to maintain its share of the global market, The Wall Street Journal reports.
BAGHDAD (AP) — Iraq's oil exports for last month were below planned levels, the country's Oil Ministry said Wednesday, depriving the nation of badly needed funds for its battle against the Islamic state group.
A record 54.4 million barrels of crude is in storage at the key Cushing hub, according to the Energy Information Administration, and an analyst told E&E that the number could climb to 65 million by mid-April.
A group of House lawmakers on Wednesday urged Energy Secretary Ernest Moniz to give updates on the department’s emergency stockpile of crude oil, saying the shift in U.S. energy markets makes proper maintenance of the Strategic Petroleum Reserve more crucial than ever.
In a letter, House Energy and Commerce Chairman Fred Upton, R-Mich., Ranking Member Rep. Frank Pallone, D-N.J. and other committee members pressed Moniz on a number of questions about the SPR and what the department is doing to make sure it is optimized for the current energy market.
Three GOP presidential hopefuls - Sens. Rand Paul, R-Ky., Ted Cruz, R-Texas, and Marco Rubio, R-Fla. - are co-sponsoring a bill to block the Environmental Protection Agency's Waters of the United States rule, The Hill reports. Paul announced the bill Friday.
A report from the center-right think tank American Action Forum estimates that the Environmental Protection Agency's power plant carbon rules could eventually force more than 90 coal-fired plants to retire and cost the economy nearly 300,000 jobs, The Washington Times reports.