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Obama will order Thursday changing or eliminating a handful of regulations — from uniform street sign requirements to outdated hospital reporting rules — that his administration says could have cost the economy $6 billion over five years, part of a regulatory overhaul that will require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.
A draft agreement on tax extenders being negotiated by lawmakers –- which would, among other things, phase out the Production Tax Credit for wind energy -– also would face a veto from President Obama, according to an email from a White House spokeswoman, Bloomberg reports.
The Environmental Protection Agency will have to wait on moves to restrict development of Pebble Mine, as Judge H. Russel Holland has issued a preliminary injunction against them, Alaska Public Radio reports.
As representatives from Saudi Arabia, Russia, Venezuela and Mexico failed to agree on production cuts ahead of the OPEC meeting later this week, oil prices resumed their slide Tuesday. West Texas Intermediate Crude for January delivery plunged 2.2 percent, or $1.69, to $74.09 on the Nymex, while in London Brent tumbled $1.35 to $78.33, Bloomberg reports.
At a national average of $2.81 a gallon, Thanksgiving gasoline prices haven’t been this low since 2009, according to the AAA, which says that could trigger more than a 4 percent increase in people driving over the holiday, FuelFix reports.
On a 3-2 vote, the Florida Public Service Commission has fallen in line with proposals from Duke Energy Florida, Tampa Electric and Florida Power & Light, agreeing to wrap up solar rebate programs by the end of next year and reduce efficiency goals by more than 90 percent, the Tampa Bay Times reports.
The Illinois Commerce Commission has granted approval for Clean Line Energy Partners’ Rock Island Clean Line, intended to transmit power 500 miles from wind farms in the Plains states, Crain’s Chicago Business reports.
Departing Gov. Martin O’Malley, D-Md., says he’ll draw up rules to govern fracking in the western part of the state which will limit pollution risks, even though his pro-drilling Republican successor would have the power to loosen restrictions once he takes office in January, The Washington Post reports.
Friends of the Earth and the Western Organization of Resource Councils, backed by Microsoft co-founder Paul Allen, have filed a lawsuit in U.S. District Court for the District of Columbia against the Bureau of Land Management over the agency’s coal-leasing program, The Hill reports.
At least four small earthquakes have shaken the Dallas area since the weekend, and SMU seismologist Brian Stump told NBCDFW it’s possible they could be linked to fluid accumulating in wastewater injector wells in the region over the past decades.
People’s views about the scientific basis of climate change don’t change even when they’re confronted with extreme weather events, according to a study published online Monday in the journal Nature Climate Change, the Los Angeles Times reports.