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.
SWANTON, Ohio (AP) — Mitt Romney's administration on Day One would approve a pipeline that would run from Canada to U.S. refineries in Texas, creating thousands of jobs and pushing America on its way to energy independence, Republican vice presidential candidate Paul Ryan said Monday.
In a debate against Mitt Romney's domestic policy adviser, White House energy aide Joseph Aldy said that the possibility of a carbon tax would be depend more on whether Republicans would be willing to negotiate the issue, The Hill reports.
Energy Department Loan Program Executive Director Peter Davidson said the agency would announce up to $8 billion in new loan guarantees for fossil-fuel projects that use technology to reduce carbon dioxide emissions, Platts reports.
Uncertainty over the extension of the wind production tax credit has slowed the development of new wind-generating capacity, as producers aim to ink contracts by the year's end rather than get turbines in operation, National Journal reports.
Earthjustice filed a lawsuit against the Environmental Protection Agency over its approval of the pesticide sulfoxaflor, saying the chemical is highly toxic to bees and other pollinators, The Hill reports.
Mexican Senate committees backed draft legislation that would open the country's oil markets to outside investment, moving the package proposed by President Enrique Pena Nieto to the Senate floor for approval, Reuters reports.
China's National Development and Reform Commission released its first blueprint for responding to climate change, including better natural disaster warning systems, sustainable agriculture and conservation efforts, The Wall Street Journal reports.
Under a draft energy plan, South Korea plans to cut its reliance on nuclear power to 29 percent of its energy mix by 2035 due in part to public scrutiny of nuclear power after the Fukushima disaster in Japan and recent safety scandals, Bloomberg reports.
The European Union is expected to approve a plan to help repair the bloc's struggling carbon emissions market by delaying the release of new permits to create scarcity in the market, The Wall Street Journal reports.
Officials from Israel, Jordan and the Palestinian Authority approved an agreement to cooperate on developing new water sources for the three and join forces on protecting the Dead Sea, the Los Angeles Times reports.