In a new endorsement interview with the Des Moines Register released Wednesday, President Barack Obama argues that a combination of green energy and natural gas development has produced Iowa jobs and will drive economic recovery in the battleground state.
Obama's comments don't reveal new proposals. But they show his belief that Iowans will respond positively to the energy policies that have been attacked by Republican challenger Mitt Romney as a waste of taxpayer money and a roadblock to domestic fossil fuel production.
In their final debate Monday night, President Barack Obama was unmistakably on offense, but offered few new energy policy details. Mitt Romney, on the other hand, was decidedly muted in tone but offered new insights on his plans for clean energy investment and sanctioning Iran's oil industry.
Romney made some news during a defense of his 2008 call for the Big Three automakers to go through bankruptcy without a taxpayer bailout, saying he opposes "investing" in energy sector companies. Such a position would rule out future loan guarantees.
In the final presidential debate, Republican presidential challenger Mitt Romney declared Monday night he would oppose direct government investments in clean energy and other private companies, his most forceful response yet to the Solyndra bankruptcy that cast a shadow over federal loan guarantees.
Drawing contrasts with President Barack Obama, Romney suggested his support for clean energy support would be limited to technology research and not aiding specific companies. "We're going to have to have a president, however, that doesn't think that somehow the government investing in car companies like Tesla and Fisker, making electric battery cars, this is not research, Mr. President," Romney said.
Responding to attacks that President Obama has failed to give proper attention to climate change, the Obama campaign sent an email to environmental groups noting the instances that the president has addressed the issue, The Hill reports.
The third and final debate between President Barack Obama and challenger Mitt Romney on Monday night is being billed as a foreign policy discussion, which seems natural to cause a tussle over global oil supplies and U.S. foreign oil dependence.
But with Romney focused in recent days on the attack on the U.S. consulate in Benghazi, Libya, and Obama ready to tout his record of ending the wars in Iran and Afghanistan and killing of Osama bin Laden, watch for energy to play at best a supporting role to bigger arguments.
Republicans may be joining the ranks of Democrats in calling for cuts to oil subsidies after the election, Politico reports. House Energy and Commerce Chairman Rep. Fred Upton, R-Mich., most notably argued that the subsidies should be eliminated completely.
Not all of the major corporations that signed on Monday to the Obama administration's call to cut carbon emissions are on board with the Environmental Protection Agency’s Clean Power Plan, E&E reports.
Following Republican release of a video showing Hillary Clinton boarding a private jet after announcing her climate program, an aide to the Democratic presidential candidate is pledging her campaign will be carbon neutral, CNN reports.
Concerns over the continuing oil glut sent Brent crude down 17 cents Tuesday to $53.30 a barrel, the lowest settlement since Jan. 30, The Wall Street Journal reports. Ahead of weekly data from the Energy Information Administration, however, light, sweet crude gained 59 cents, or 1.2 percent, to settle at $47.98 a barrel on the Nymex.
The troubles in the oil industry are offering companies such as National Oilwell Varco a variety of acquisition targets, said CEO Clay Williams, speaking of “a buyer’s market” amid the downturn, FuelFix reports.
Concerned about the dent in profitability caused by the fall in natural gas prices, Reliance Industries—headed by Indian billionaire Mukesh Ambani—is considering selling its assets in the Eagle Ford Shale and the Marcellus Shale, sources tell Bloomberg.
Lower prices were pressuring revenue for chemical firm LyondellBasell in the second quarter, although its $1.33 billion profit, amounting to $2.82 a share, represented a gain compared to 2014 and beat analysts’ expectations, The Wall Street Journal reports.
The House and Senate energy policy bills are both crafted to attract bipartisan backing and to avoid more controversial issues like the Keystone pipeline, lifting the crude oil export ban and reining in environmental regulations, Roll Call reports.