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Tag Archive: oil


GOP in charge eager to move on Keystone XL, Taxes

AP

AP

Republicans’ resounding victory gives them an opportunity to push legislation that’s been bottled up in the Democratic Senate, from targeting elements of President Barack Obama’s health care law to constructing the Keystone XL oil pipeline to rolling back environmental regulations.

Democrats suffered an electoral drubbing in Tuesday’s midterms, and Republicans regained control of the Senate and widely expanded their majority in the House. In command in both chambers in January, Republicans maintained that they have to show they can govern or else voters will show them the door.
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Warning issued about Oil shipped from ND, Mont.

AP

AP

Following a string of explosive accidents, federal officials said Thursday that crude oil being shipped by rail from the Northern Plains across the U.S. and Canada may be more flammable than traditional forms of oil.

A safety alert issued by the U.S. Department of Transportation warns the public, emergency responders and shippers about the potential high volatility of crude from the Bakken oil shale patch. The massive oil reserve is fueling the surging industry in eastern Montana and western North Dakota, which is now the nation’s second-largest oil producer.
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AP

AP

Technology created an energy revolution over the past decade – just not the one we expected.

By now, cars were supposed to be running on fuel made from plant waste or algae – or powered by hydrogen or cheap batteries that burned nothing at all. Electricity would be generated with solar panels and wind turbines. When the sun didn’t shine or the wind didn’t blow, power would flow out of batteries the size of tractor-trailers.
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AP

Seeking to reset his economic message, Republican Mitt Romney pledged Thursday to create 3 million jobs and more than $1 trillion in revenue by ramping up offshore oil drilling and giving states more control over energy production on federal land.

Romney, reviving a long-elusive goal pushed by presidents and presidential candidates for decades, said his plans would make the U.S., along with Canada and Mexico, energy independent by 2020.

“This is not some pie in the sky kind of thing,” Romney told voters in Hobbs, the heart of New Mexico’s oil and gas industry. “This is a real achievable objective.”
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AP

Federal prosecutors brought the first criminal charges Tuesday in the Gulf oil spill, accusing a former BP engineer of deleting more than 300 text messages that indicated the blown-out well was spewing far more crude than the company was telling the public at the time.

Two years and four days after the drilling-rig explosion that set off the worst offshore oil spill in U.S. history, Kurt Mix, 50, of Katy, Texas, was arrested and charged with two counts of obstruction of justice for allegedly destroying evidence.
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BP

When fishermen returned to the deep reefs of the Gulf of Mexico weeks after BP’s gushing oil well was capped, they started catching grouper and red snapper with large open sores and strange black streaks, lesions they said they’d never seen and promptly blamed on the spill.

Now, two years after the Deepwater Horizon rig exploded and sank, killing 11 men and touching off the worst offshore spill in U.S. history, the latest research into its effects is starting to back up those early reports from the docks: The ailing fish bear hallmarks of diseases tied to petroleum and other pollutants.
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AP

In almost every energy speech, President¬†Obama¬†makes this statement: “We’ve got 2 percent of the world oil reserves. We use 20 percent.”

But there’s more to those numbers than meet the eye. View full article »

AP

Iran’s move to cut off oil shipments to Britain and France is expected to have little or no effect on supplies, but had an immediate effect on world prices Monday, as oil prices jumped to a nine-month high above $105 a barrel.

By early afternoon in Europe, benchmark March crude was up $1.91 to $105.15 per barrel in electronic trading on the New York Mercantile Exchange. Earlier in the day, it rose to $105.21, the highest since May. The contract rose 93 cents to settle at $103.24 per barrel in New York on Friday. View full article »

AP

Two Iranian lawmakers on Monday ramped up threats that their country would shutter the strategic Strait of Hormuz in retaliation for oil sanctions on Tehran — a warning that comes one day after the USS Abraham Lincoln passed through the iconic waterway.

Lawmaker Mohammad Ismail Kowsari, deputy head of Iran’s influential committee on national security, said the strait “would definitely be closed if the sale of Iranian oil is violated in any way.” View full article »

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