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.
Riding the back of the oil boom, Halliburton reported a 70 percent increase in earnings in the 3rd quarter, The Wall Street Journal reports, noting that CEO Dave Lesar predicted in a conference call Monday that the recent drop in oil prices would be temporary.
Skepticism about OPEC agreeing to cut oil production pressured prices again Monday. West Texas Intermediate crude for November delivery slipped 4 cents to settle at $82.71 a barrel on the Nymex, but in London December Brent lost 76 cents to end at $85.40, Bloomberg reports.
Proposed new regulations from the Department of Energy, published in Tuesday’s Federal Register seeking public comment, would cover energy conservation standards for some water heaters, while others would target certain fluorescent lamps, The Hill reports.
Despite industry support for the GOP bid to take over control of the Senate, oil and gas companies are still giving substantial donations to the re-election effort of Energy Committee chair Sen. Mary Landrieu, D-La., Reuters reports.
One of the people who helped write the McCain-Feingold legislation on political contributions says Tom Steyer’s NextGen Climate change is an example of how politics has become “privatized,” The New York Times reports.
As the U.S. prepares to take the chair of the Arctic Council for two years, environmentalists have been heartened by recent statements from U.S. Special Representative Robert Papp, who has said that climate change would figure prominently on his agenda, E&E reports.
With 419 megawatts added to U.S. wind power capacity in the 3rd quarter, installations in the first nine months of 2014 – totalling 1,254 megawatts -- have surpassed what came on line in all of the year before, according to the American Wind Energy Association, Bloomberg reports.
Robert W. Fri, who held a number of posts at the Environmental Protection Agency in the 1970s and served as president of the research institute Resources for the Future for a decade starting in the mid 80s, died on Oct. 10 in Maryland, The New York Times reports.