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Obama will order Thursday changing or eliminating a handful of regulations — from uniform street sign requirements to outdated hospital reporting rules — that his administration says could have cost the economy $6 billion over five years, part of a regulatory overhaul that will require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.
House Energy and Commerce Chairman Fred Upton leveled fresh criticism of President Obama’s energy policies after a report from the Congressional Research Service found that oil and gas production declined on federal leases, The Hill reports.
Benchmark West Texas Intermediate crude gained 1 cent to settle at $103.76 a barrel on the Nymex after the Energy Information Administration reported a hike in U.S. inventories last week, while in London Brent rose 24 cents to close at $109.60 a barrel, the highest level in six weeks, according to Bloomberg.
Former President Jimmy Carter signed a letter with other Nobel laureates declaring the proposed pipeline would contribute to global “climate upheaval,” and should be rejected by the Obama administration, Bloomberg reports.
Keystone XL opponents Sen. Sheldon Whitehouse, D-R.I., and Rep. Henry Waxman, D-Calif., submitted comments to the State Department urging Secretary John Kerry to face up to “the reality of climate change” and reject the proposed project.
Clean energy investment is on the rise again after two years of declines, according to Bloomberg New Energy Finance, which estimates new money coming into the sector increased by more than $4 billion, or 9 percent, in the first quarter, led by demand for rooftop solar panels.
Bonds may be the best way to raise money for clean energy projects, says a report from the Brookings Institution, although the think tank notes that few developers have used bonds because of difficulties in accessing the markets, E&E reports.
On expectations that the California Public Utilities Commission will adopt its proposed decision barring utilities from charging fees to connect solar systems that use battery storage, SolarCity anticipates returning to file applications to connect the systems in the state, Bloomberg reports.
Only about 200 of Ford's F-150 pickups that can run on compressed natural gas have been sold, FuelFix reports, noting that company officials predict interest will grow once the vehicle gets more established in the market.
California’s extreme drought conditions finally may get residents and communities past the psychological hump that’s been turning them away from recycling wastewater to get drinking water, National Journal reports.
If the U.S. energy boom is to be sustainable, new technology will have to be brought into play to get more out of fracking wells, former Energy Department assistant secretary Charles McConnell told a Houston symposium, FuelFix reports.