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Obama will order Thursday changing or eliminating a handful of regulations — from uniform street sign requirements to outdated hospital reporting rules — that his administration says could have cost the economy $6 billion over five years, part of a regulatory overhaul that will require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.
Despite the growth of the fossil fuel divestment movement – tracked in a report from the Divest-Invest coalition – the totals involved still pale in comparison to the overall money invested in the fossil fuel industry, which is valued in the trillions, according to National Journal.
Environmental campaigners are expressing fears about how possible Republican control of the Senate following the November elections could chip away at important regulations in the sector, The Hill reports.
The now familiar combination of ample supply alongside the expectation of “downbeat” demand weighed on oil prices again Monday. U.S. benchmark crude was down 50 cents to $91.91 a barrel in electronic trading on the Nymex ahead of the expiration of the October contract later in the day, while in London November Brent dropped 67 cents to $97.72, Reuters reports.
Even if pipeline infrastructure is expanded, and despite increasing concerns about safety, crude-by-rail transportation has become a permanent part of the U.S. energy industry landscape, experts tell The Wall Street Journal.
A new indictment handed down by a federal grand jury Friday adjusts the charges against David Rainey, a former BP executive who faces a March trial over claims he made false statements to Congress about the company’s 2010 Gulf of Mexico spill, The Associated Press reports.
With a Friday filing in bankruptcy court, Energy Future Holdings Corp. started the bidding process for the 80 percent stake it indirectly owns in the Texas transmission firm Oncor, likely to attract interest from NextEra Energy among other companies, The Wall Street Journal reports.