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.
Dominion Resources has filed papers with the Federal Energy Regulatory Commission, asking for a start to the review process for the proposed 550-mile natural gas Atlantic Coast Pipeline, The Associated Press reports.
Federal agencies have reduced their greenhouse gas emissions 17 percent compared to levels in 2008, according to the White House Council on Environmental Quality, but they also remain vulnerable to the effects of climate change in different ways, National Journal reports.
As part of their fight to become the top-ranking Democrat on the House Energy and Commerce Committee, Rep. Frank Pallone of New Jersey and Rep Anna Eshoo of California have raised and distributed more than $1.2 million to their colleagues during this election cycle, National Journal reports.
Scientists at the National Institute of Standards and Technology and the National Oceanic and Atmospheric Administration are working on a technique using lasers that would more accurately measure greenhouse gas concentrations, E&E reports.
News of production increases in the U.S. and among OPEC members weighed on oil prices Friday. West Texas Intermediate crude for December delivery finished the Nymex session down 58 cents to $80.54 a barrel, a drop of 12 percent over the whole of October, while in London Brent lost 38 cents to settle at $85.86, Bloomberg reports.
Increased demand is leading SolarWorld Americas to spend $10 million expanding its solar modules plant, and the company announced it will be hiring 200 additional workers as well, The New York Times reports.
To encourage the development of advanced nuclear reactors – anticipated to be more efficient – the Department of Energy is spending $13 million to help major companies including AREVA, GE Hitachi and Westinghouse in their research of the technology, The Hill reports.