NewsTrust - Oil and Gas - Most Recent Stories: News (Mainstream)

Automakers in a race for buyers of mid-size family cars

Wed, 11 Jan 2012 00:00:00 -0800

Los Angeles Times - By Jerry Hirsch - Jan. 11 (News Report) - Ford, GM, Honda and Nissan are all rolling out revamped models this year, with added features and better gas mileage.

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U.S. Navy: Hormuz disruption won't be tolerated

Wed, 28 Dec 2011 00:00:00 -0800

CBS News - By CBS News - Dec. 28 (News Report) - The U.S. Navy said any attempts to block the Strait of Hormuz would "not be tolerated," after Iranian officials threatened to choke off the key oil supply route. Iran's navy chief warned Wednesday that his country can easily close the strategic strait at the mouth of the Persian Gulf, the passageway through which a sixth of the world's oil flows.

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Bachmann energy claims oversimplified

Wed, 31 Aug 2011 00:00:00 -0700

Associated Press - By Matthew Daly - Aug. 31 (Fact Check) - America’s energy future can’t be unlocked as simply as Republican presidential candidate Michele Bachmann makes it sound when she depicts the nation as the “king daddy dogs” of energy. Even if environmentalists folded and Washington regulators got out of the way, much of the energy is too expensive for companies to develop. “The radical environmentalists have demanded that we lock up all our energy resources,” she told a town hall meeting in Florida. “President Bachmann will take that key out of the door. I will unlock it.”

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EPA in 1987 found fracking fouled well water in W.Va

Wed, 03 Aug 2011 00:00:00 -0700

Pittsburgh Post-Gazette - By Don Hopey - Aug. 03 (News Report) - A 1987 U.S. Environmental Protection Agency finding, which the agency has ignored for years, concluded that hydraulic fracturing of a deep natural gas well in Jackson County, W.Va., contaminated groundwater and private wells. Although the gas drilling industry has repeatedly claimed that such "fracking" operations in Pennsylvania's Marcellus Shale natural gas fields pose no threat to rural underground aquifers, groundwater and drinking water wells, EPA investigators concluded a gas well drilled and fracked by the Kaiser Gas Co. in 1982 did contaminate groundwater.

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Rush for Arctic's resources provokes territorial tussles

Wed, 06 Jul 2011 00:00:00 -0700

The Guardian - By Terry Macalister - Jul. 06 (News Analysis) - US, Canada, Russia, Denmark and Norway are becoming embroiled in disputes over boundaries on land and at sea Two nations on opposite sides of the Nato military alliance divide – Russia and Norway – have signed a deal over who owns what in the Barents Sea. But there are plenty of other territorial tussles going on – some between good friends. The United States and Canada still disagree on the setting of the boundaries in the Beaufort Sea – an area of intense interest to oil drillers . Similarly, Canada has yet to resolve a dispute with Denmark over the ownership of Hans Island and where the control line should be drawn in the strait between Greenland (whose sovereignty remains with Denmark) and Ellesmere Island. But of even greater significance in a world of melting ice floes is control of the North West Passage . Canada insists that it has sovereignty over the sea route and therefore must be asked about usage. The US sees it as a potential area of open water which gives it automatic ...

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Ruptured Pipeline Spills Oil Into Yellowstone River

Mon, 04 Jul 2011 00:00:00 -0700

New York Times - By Anahad O' Connor - Jul. 04 (News) - An ExxonMobil pipeline running under the Yellowstone River in south central Montana ruptured late Friday, spilling crude oil into the river and forcing evacuations.

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Fact checking a claim on tax breaks

Fri, 01 Jul 2011 00:00:00 -0700

The Politico - By Abby Phillip - Jul. 01 (Research) - President Obama used oil barons and corporate jet owners to anchor his opposition to Republicans' demands on taxes in his press conference on Wednesday. His indictment against corporate jet owners in particular was repeated so often, six times, that it certainly rankled Republicans who saw it as a clear case of class warfare.

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Americans may hit gas again after reserve release

Sat, 25 Jun 2011 00:00:00 -0700

Reuters - By Tom Brown, Peter Henderson - Jun. 25 (News Report) - MIAMI/SAN FRANCISCO (Reuters) - Going lightly on the gas pedal, getting a few dollars of gas rather than filling up, cutting out the cruising, and swapping the BMW for a Dodge Caliber -- those are ways Americans are coping with gasoline prices well above $3 a gallon.

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Obama administration taps Strategic Petroleum Reserve

Thu, 23 Jun 2011 00:00:00 -0700

The Politico - By Dan Berman - Jun. 23 (News Report) - The Obama administration will release 30 million barrels of oil from the Strategic Petroleum Reserve in an effort to offset oil supply disruptions in the Middle East, the Energy Department announced Thursday morning.

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Global Oil Reserves Tapped in Effort to Cut Cost at Pump

Thu, 23 Jun 2011 00:00:00 -0700

New York Times - By Jackie Calmes - Jun. 23 (News) - The United States will lead an international effort to release 60 million barrels of petroleum reserves to world markets, replacing some of the oil production lost because of the conflict in Libya, the International Energy Agency announced in Paris on Thursday.

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OPEC leaves oil output unchanged; prices back above $100

Wed, 08 Jun 2011 00:00:00 -0700

Associated Press - Jun. 08 (News) - OPEC says it has decided to maintain output levels, with the option of meeting within the next three months for a possible production hike. Oil prices jumped above $100 per barrel after the news. The decision is unexpected and reflects unusual tensions in an organization that usually works by consensus.

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Environmental groups challenge Shell drilling plan

Tue, 31 May 2011 00:00:00 -0700

Associated Press - By Harry R. Weber - May. 31 (News Report) - Environmental groups asked a federal appeals court Thursday to throw out a U.S. government decision to approve a Shell oil exploration plan that involves five proposed wells under more than 7,000 feet (2,133 meters) of water in the Gulf of Mexico. The Bureau of Ocean Energy Management Regulation and Enforcement approved the plan in May. The plan also includes three previously approved wells 72 miles (115 kilometers) off Louisiana. Defenders of Wildlife, the Center for Biological Diversity and the Natural Resources Defense Council claim in a petition filed in the 11th Circuit U.S. Court of Appeals in Atlanta that the decision violates the law and that the environment would be harmed if it stands.

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Shale Boom in Texas Could Increase U.S. Oil Output

Sat, 28 May 2011 00:00:00 -0700

New York Times - By Clifford Krauss - May. 28 (News Report) - Advocates of pulling oil from packed rock say it could raise the nation’s oil output by 25 percent, but evidence is mounting that the extraction technique threatens water supplies.

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Senate Refuses to End Tax Breaks for Big Oil

Wed, 18 May 2011 00:00:00 -0700

New York Times - By Carl Hulse - May. 18 (News) - The Senate on Tuesday blocked a Democratic proposal to strip the five leading oil companies of tax breaks that backers of the measure said were unfairly padding industry profits while consumers were struggling with high gas prices.

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The Fight Over Fracking: Josh Fox vs. Big Gas

Tue, 17 May 2011 00:00:00 -0700

Rolling Stone - By Alexander Zaitchik - May. 17 (News Report) - One afternoon in early April, Josh Fox sits in a caf near his Brooklyn home and unfurls a peculiar map of the United States.

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President Obama announces plans to expand domestic oil production

Sat, 14 May 2011 00:00:00 -0700

The New Orleans Times-Picayune - By Jonathan Tilove - May. 14 (News) - President Barack Obama Saturday announced plans to expand domestic oil production, including holding a lease sale in the Gulf of Mexico this year and two in 2012, and extending leases in the Gulf that were affected by the drilling moratorium in the wake of the BP oil spill to allow operators more time to meet heightened safety requirements.

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What to watch when Big Oil testifies

Thu, 12 May 2011 00:00:00 -0700

The Politico - By Dan Berman - May. 12 (News Analysis) - It’s a tradition in Washington: the annual Capitol Hill version of the perp walk for Big Oil. It’s political theater at its best.

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Democrats seek to slash subsidies for "Big Oil" - Budget Showdown

Wed, 11 May 2011 00:00:00 -0700

Associated Press - By Andrew Taylor - May. 11 (News) - Democrats running the Senate are seeking to take away tax breaks that pad the profits of the five biggest oil companies by $2 billion a year and use the money to attack the spiraling deficit. The new legislation would cut off immensely profitable companies like Shell Oil and Exxon Mobil from subsidies like a deduction originally aimed at boosting manufacturing. The top five oil companies have booked profits of $36 billion in the first quarter of this year alone.

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Democrats See Strategy to End Big Oil Tax Breaks

Mon, 09 May 2011 00:00:00 -0700

New York Times - By Carl Hulse - May. 09 (News Report) - Linking two of the politically volatile issues of the moment, Senate Democrats say they will move forward this week with a plan that would eliminate tax breaks for big oil companies and divert the savings to offset the deficit.

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This time, Constellation takeover will go through - Baltimore Sun

Mon, 02 May 2011 00:00:00 -0700

Baltimore Sun - May. 02 (News) - This time, Constellation takeover will go throughBaltimore SunEven if O'Malley never gets to build his expensive wind farm off Maryland's shore, he will have assembled an impressive environmental portfolio if it includes the $50 million in solar- or wind-driven generators pledged by Constellation and Exelon. ...and more »

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Battered by gas prices White House starts attacks on oil companies

Sat, 23 Apr 2011 00:00:00 -0700

The Hill - Apr. 23 (News Report) - The White House has joined congressional Democrats in targeting oil companies with criticism for nearly $4 per gallon gas. President Obama lashed out at oil companies -- and the tax breaks they get from the government -- for a second day in a row on Thursday and again in Saturday's address. “Four billion dollars of your money are going to these companies at a time when they’re making record profits and you’re paying near record prices at the pump,” the president said at a Nevada town hall. “It has to stop.”

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Pennsylvania: 'ground zero' of the US boom

Thu, 21 Apr 2011 00:00:00 -0700

The Guardian - By Suzanne Goldenberg - Apr. 21 (News Report) - Last June, Tony Zaffuto arrived at his fieldstone cabin in the forested hills of Pennsylvania's SB Elliott state park, to find a notice pinned on the front door: "Danger. Do not occupy dwelling." A blow-out at a gas well in another popular camping spot, in the woods of the Punxsutawney hunt club, also in Clearfield County, had shot a 75-foot combustible gusher of tas and toxic waste water into the air. It took the gas company, EOG, 16 hours to control the well, and authorities had to carry out an evacuation. It was not Zaffuto's first encounter with the dangers of natural gas drilling. In 2009, the spring that was the cabin's only source of water was contaminated by toxic waste from a pond serving the gas wells.

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Oil spills underreported in Mexican Gulf

Thu, 21 Apr 2011 00:00:00 -0700

Nature - By Melissa Gaskill - Apr. 21 (News) -

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Lawsuits fly in BP's Gulf spill blame game

Thu, 21 Apr 2011 00:00:00 -0700

Reuters - By Tom Bergin - Apr. 21 (News) - BP Plc and its partners in the Gulf of Mexico oil spill have unleashed a $100 billion-plus barrage of legal claims against each other a year after the rig blast killed 11 workers and created an environmental disaster.

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Deepwater Horizon victims' families mark first anniversary of oil spill

Wed, 20 Apr 2011 00:00:00 -0700

Associated Press - Apr. 20 (News) - Relatives of some of the 11 men who died aboard the Deepwater Horizon oil rig are to fly over the Gulf of Mexico to mark the first anniversary of the worst offshore oil spill in US history.

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