As Republican talk on the campaign trail intensifies about cutting billions of dollars in drilling tax breaks, the industry's main trade group on Thursday made clear that Big Oil is not yet ready to embrace the loss of deductions in return for lower corporate rates.
"We understand that during the dynamic of a tax reform scenario, the industry will be impacted, just given the size and scope of our industry," said Brian Johnson, senior tax adviser at the American Petroleum Institute, during a media briefing.
With new momentum in his race for the White House, Mitt Romney is moving to highlight his opposition to President Barack Obama's green energy and oil drilling policies, with some fresh help from his allies in Congress.
Polling has not shown voters to rank energy issues among their top concerns, despite high gasoline prices.
Riding off his debate performance last week, Mitt Romney took questions with Gov. Chris Christie about energy policy and other issues at a town hall meeting in order to gain ground in Ohio, The Hill reports.
The deadlines for meeting the goals in the Environmental Protection Agency’s Clean Power Plan don’t represent a glide path, but “a cliff,” an executive with a Phoenix-area utility told the Federal Energy Regulatory Commission during a regional meeting intended to gather feedback, E&E reports.
Moves to develop carbon capture technology would get a boost from legislation introduced Thursday by Sens. Heidi Heitkamp, D-N.D., and Tim Kaine, D-Va., which designates more Energy Department funding for research and also offers incentives for those who adopt so-called “clean coal” technology, The Hill reports.
Three senior House Republicans, including Energy and Commerce chair Rep. Fred Upton, have sent a letter to Energy Secretary Ernest Moniz, demanding to know whether his department was planning any use for Yucca Mountain other than accepting nuclear waste, E&E reports.
Fracking opponents have filed a petition with Gov. Jerry Brown, D-Calif., demanding that he ban hydraulic fracturing in the state because of the threat the practice poses to health and safety, The Hill reports.
The cleanup costs to states for abandoned wells – a burden they’re not well equipped to take on – could skyrocket as lower oil prices take some of the steam out of the shale drilling boom, The Wall Street Journal reports.
A natural Pacific Ocean cooling cycle has helped to keep global warming in check over the past decade, say researchers writing in the journal Science, but they warn that warming is likely to accelerate again once the cycle finishes, Reuters reports.
Sen. Jim Inhofe, R-Okla., chair of the Environment and Public Works Committee, threw a snowball at the Senate's presiding officer as he gave a speech criticizing what he called the “hysteria” over climate change, National Journal reports.
The letters sent to universities by Rep. Raul Grijalva, D-Ariz., the ranking member on the House Natural Resources Committee, asking about funding sources for researchers’ climate studies, has generated criticism and protest from academics, National Journal reports.
Jim Gordon, president of the stalled offshore project Cape Wind, has offered praise for the push to get a wind power coalition off the ground, and also backed a measure introduced in the state legislature that would require utilities to buy certain quantities of wind and hydropower, WWLP reports.