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.
The problems in Ukraine are unlikely to trigger faster action by the Obama administration on natural gas exports, a White House spokesman appeared to indicate Friday, as he noted that supplies in Europe are at higher-than-normal levels because of the mild winter there, according to Reuters.
Public Service Enterprise Group plans to spend $12 billion over five years on capital projects to improve reliability, hoping to increase the earnings of its utility business, The Wall Street Journal reports.
Weather-related rail bottlenecks in Chicago are causing higher prices and lower supplies of ethanol on the East coast, while Midwest plants are cutting production because of a shortage of rail cars, an industry representative told a U.S. Surface Transportation Board panel, Platts reports.
Investors will challenge corporations during the upcoming proxy season to make more environmental commitments, according to nonprofit Ceres, which has compiled a list of resolutions up for votes, E&E reports.
Saying President Obama's proposed "climate resilience fund" will help communities prepare better for severe weather might win it bipartisan support, according to Sen. Brian Schatz, D-Hawaii, National Journal reports.