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.
Moves by Tom Steyer’s NextGen Climate to back Democrat Bruce Braley’s run for the senate in Iowa against Joni Ernst have him lending support to the Renewable Fuel Standard, which a number of environmentalists oppose because they say ethanol and the RFS undermine the fight against climate change, National Journal reports.
Faced with increasing drought and power plants that use large quantities of water, a Southern Co subsidiary has teamed with other utilities and national industry research groups to create the Water Research Center in Georgia, a facility seeking to find ways of improving water management, E&E reports.
An event Thursday in Fort Collins, Colo., in support of the Environmental Protection Agency’s Waters of the United States rule is being hosted by Democratic Rep. Jared Polis and the company that brews Fat Tire, The Hill reports.
A draft of New Hampshire’s 10-year energy plan prepared by research firm Navigant, which is set to be finalized before Sept. 1, outlines what the state can do to boost renewables, efficiency and infrastructure, WMUR reports.
Wind energy is expected to grow in the U.S. over the next two years, but the expiration of the wind Production Tax Credit has cast doubt on the future beyond 2015 despite declines in cost and prices, says the Department of Energy’s annual report on the sector, according to Platts.
Berkshire Hathaway chief and billionaire Warren Buffett has sold off most of the conglomerate’s holding in ConocoPhillips and is looking to unload other oil company shares, FuelFix reports, noting that the decline in oil prices may be fueling his moves.
The Bureau of Ocean Energy Management is opening sealed bids Wednesday from 14 companies looking to pick up oil and gas leases in the western Gulf of Mexico, mostly concentrating on 81 tracts, FuelFix reports.
The Coast Guard has increased the liability cap – the amount a company would have to pay in the event of an oil spill in U.S. waters -- by more than 15 percent, to more than $404 million for onshore facilities, in a regulation published in the Federal Register Tuesday that's now open to a 60-day comment period, FuelFix reports.
Non-food plants that are hardy and grow quickly on marginal land are also likely to become invasive species, so scientists hunting for the next big biofuel crop -- who published a so-called white list of possibilities in the journal BioEnergy Research last month -- have to be particular, E&E reports.