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Obama will order Thursday changing or eliminating a handful of regulations — from uniform street sign requirements to outdated hospital reporting rules — that his administration says could have cost the economy $6 billion over five years, part of a regulatory overhaul that will require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.
Rep. Kevin Cramer, R-N.D., who was an electricity regulator before being elected to Congress, backs legislation that would let states opt out of compliance with the Environmental Protection Agency’s prospective rule limiting power plant carbon emissions, E&E reports.
A jump in the value of the dollar pressured oil prices Tuesday. U.S. benchmark crude slid more than 2.8 percent, losing $1.69 to settle at $58.03 a barrel, while in London, Brent fell $1.80 - almost 2.8 percent - to $63.72, Reuters reports.
An energy storage system based on batteries will be installed by Duke Energy at the site of a retired coal-fired plant in New Richmond, Ohio, to help regulate grid frequency for PJM Interconnection, the Dayton Daily News reports.
The Clean Energy Technology Center at North Carolina State University is partnering with EnergySage Inc. to launch an online solar energy marketplace to hook up solar vendors with potential customers in the state, Triangle Business Journal reports.
The Department of Justice has closed an investigation into the operations of oil and gas firm Hyperdynamics Corp. under the Foreign Corrupt Practices Act, and no charges were filed, though the Securities and Exchange Commission still has a probe open, The Wall Street Journal reports.
The Interior Department is opposing legislation that would create pathways for natural gas pipelines across federal lands in the eastern United States, saying the move would limit public input on such projects, The Hill reports.
The Environmental Protection Agency is planning to release within days the controversial Waters of the U.S. rule, which is intended to clarify the agency's jurisdiction over bodies of water, The Hill reports. The rule is facing strong opposition from farm groups and Republicans.