Tax experts are questioning whether Pennsylvania Gov. Tom Corbett's proposed $1.7 billion tax credit to Shell for building a new refinery treats other companies fairly, FuelFix reports.
WASHINGTON (AP) — Senators from both parties are pressing the U.S. government to allow investment by American oil and gas companies as it moves to suspend economic sanctions against Myanmar.
Democrat Jim Webb and Republican James Inhofe made the appeal at a confirmation hearing Wednesday for the first U.S. ambassador to the military-dominated country in 22 years.
The Energy Information Administration projects that U.S. imports of oil will fall from 49 percent of current supply to 36 percent by 2035 as consumption drops and domestic projection rises. And it predicts the U.S. will rapidly export more natural gas as a result of the shale boom.
Fears that Iran oil sanctions will ignite a price increase have been eased by falling oil prices, prompting the European Union to ratifyan embargo against Iranian oil beginning July 1, The Wall Street Journal reports.
NEW YORK (AP) — The price of oil declined Monday as Spain's banking crisis added to concerns about the troubled European economy.
A tropical storm also moved away from the heart of America's oil production in the Gulf of Mexico, reducing the chances for a sustained disruption in U.S. supplies.
Brazilian state oil monopoly Petrobras isn't seeking outside partners in the construction of a northeastern Brazil refinery, hoping its current partner, the Venezuelan oil company Petroleo, will resolve its financial difficulties, The Wall Street Journal reports.
SINGAPORE (AP) — Oil fell to near $79 a barrel Monday in Asia as Europe's economic woes offset a supply disruption from a storm that shut down about a quarter of crude output in the Gulf of Mexico.
Benchmark oil for August delivery was down 38 cents at $79.38 a barrel at late afternoon Singapore time in electronic trading on the New York Mercantile Exchange. The contract rose $1.56 to settle at $79.76 in New York on Friday.
In London, Brent crude for August delivery was down 60 cents at $90.38 per barrel on the ICE Futures exchange.
Liberal watchdog group Checks and Balances Project said the State Department inspector general is investigating potential conflicts of interests in the department's environmental review of the Keystone XL pipeline, The Hill reports.
West Virginia Gov. Earl Ray Tomblin and Attorney General Patrick Morrisey joined a push to have the Supreme Court rule to overturn EPA greenhouse gas regulations, The Charleston Gazette reports.
Sen. Tim Kaine, D-Va., voiced optimism that President Obama would not veto his bill to authorize oil and gas drilling off the coast of Virginia, The Hill reports.
The National Oceanic and Atmospheric Administration said a key satellite tasked with tracking severe eastern weather failed and a spare has been activated, Reuters reports.
The new chemical safety compromise bill introduced by Sens. David Vitter, R-La., and Frank Lautenberg, D-N.J., now has 20 co-sponsors, The Hill reports.
Participants in the Energy Department's Better Buildings Challenge, designed to reduce energy consumption at buildings, saved about $58 million in energy costs last year, The Journal Sentinel reports.
In a Q&A with State House News Service, Massachusetts Senate candidates Rep. Ed Markey, D, and Gabriel Gomez, R, give their take on the Senate battle to confirm EPA nominee Gina McCarthy.
In an interview with GreenBiz.com, Massachusetts Gov. Deval Patrick discusses his vision for his state's energy policy, including his plans for offshore wind generation.
New York Gov. Andrew Cuomo's plan to reform the Long Island Power Authority over flaws exposed by Hurricane Sandy is unpopular among municipal bond investors, Bloomberg reports.
