David Wood, the CEO and president of Murphy Oil Corp, unexpectedly resigned on Wednesday. The oil and gas company's former general counsel has assumed the position of CEO, The Wall Street Journal reports.
WASHINGTON (AP) — President Barack Obama will order Thursday changing or eliminating a handful of regulations — from uniform street sign requirements to outdated hospital reporting rules — that his administration says could have cost the economy $6 billion over five years, part of a regulatory overhaul that will require agencies to periodically scrub their rule books in search of unnecessary mandates.
Gas stations are among the beneficiaries of the changes, as the EPA will repeal a requirement that gas stations in some states install vapor controls at the pumps.
Obama will sign the election-year executive order later Thursday that will force federal agencies to scrutinize old rules to determine which ones are justified and to issue regular reports on their progress.
With gas prices escalating and consumption of gas at the pump at an 11-year low, the nation's 110,000 independent gas station owners are feeling the pain, and say it's increasingly difficult to make a profit, especially with credit-card processing fees, The Wall Street Journal reports.
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.