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Obama will order Thursday changing or eliminating a handful of regulations — from uniform street sign requirements to outdated hospital reporting rules — that his administration says could have cost the economy $6 billion over five years, part of a regulatory overhaul that will require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.
The biofuels industry needs to evolve beyond the traditional ethanol model, taking advantage of the opportunities presented by new technology, exports and the market offered by the military as well as aviation, Agriculture Secretary Tom Vilsack told FuelFix in an interview.
When FirstEnergy subsidiary Allegheny Energy Supply decided to shut two power plants and cancel its contract to buy coal from Tunnel Ridge, it blamed government regulation beyond its control, an assertion the mining company is challenging in court, the Pittsburgh Post-Gazette reports.
Land reclamation hasn’t finished around half of the more than 47,000 inactive wells in Colorado, according to The Denver Post, which notes that although the state requires the cleanup, it does not put a time frame on it.
The flow of oil has been shut to a Hilcorp Alaska pipeline that leaked over the weekend and authorities have recovered nearly 4,000 gallons of crude and fluids, although blizzard conditions provided an extra challenge to clean up crews, KTUU reports.
There will be an appeal of a U.S. District judge’s decision not to grant class action status to a lawsuit against Exxon Mobil over bad gasoline the company distributed in Louisiana last year, The Advocate reports.
Public Service Enterprise Group Inc. says it plans to upgrade New Jersey’s gas infrastructure – including gas mains and service lines – at a cost of $1.6 billion over the next five years, The Wall Street Journal reports.
A measure to ban oil drilling -- which is going before the voters in Hermosa Beach, California Tuesday -- is the latest twist in a long history of yes-but-no attitudes toward drilling in the beachside community, The New York Times reports.
A $1.55 billion project to generate electricity from tidal force is being proposed for Swansea in Wales, with Tidal Lagoon Power envisioning a tidal lagoon that can power 155,000 homes, BBC News reports.