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.
Seeking to fill two key Department of Transportation posts that have been vacant for months, President Barack Obama has nominated Marie Therese Dominguez to become the head of the Pipeline and Hazardous Materials Safety Administration and Sarah Feinberg to the top job at the Federal Railroad Administration, The Hill reports.
The Hill reports that the House has scheduled votes for next month on proposals to let states opt out of the Clean Power Plan, to weaken the proposed rule on disposal of coal ash at power plants, and to reform toxic chemical safety laws.
A pause in dollar gains and a drop in the number of rigs drilling for oil in the U.S. sent prices skyrocketing Friday. U.S. benchmark crude leaped 4.5 percent, or $2.62, to settle at $60.30 a barrel on the Nymex, while in London, Brent soared $2.98 - 4.8 percent - to $65.56, Reuters reports.
Illinois Attorney General Lisa Madigan and the advocacy group Public Citizen have filed a complaint with the Federal Energy Regulatory Commission charging that Dynegy Inc. manipulated electricity markets, the St. Louis Post-Dispatch reports.
The Energy Information Administration is struggling to make accurate projections in an era of volatile energy prices, surging renewable energy, and global warming, according to U.S. News & World Report.
The goal that Kansas utilities generate 20 percent of their electricity from renewable sources is now nonbinding rather than a mandate, as Gov. Sam Brownback has signed compromise energy legislation hammered out between the wind industry and its critics, The Associated Press reports.
The insistence that oil companies be able to drill relief wells in the event of an emergency is a major sticking point when it comes to the Obama administration plan to allow Arctic drilling, according to comments filed by groups including the American Petroleum Institute, FuelFix reports.