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Mar 26, 2012

Bill ending oil company tax cuts clears Senate hurdle

WASHINGTON (Reuters) – Legislation repealing tax breaks for major oil companies passed its first hurdle in the Senate on Monday, but is unlikely to become law, as Republicans and Democrats seek to score political points over rising gasoline prices.

The Senate voted 92 to 4 to proceed with consideration on the bill that would eliminate billions of dollars in tax breaks for the “big five” oil companies: Exxon Mobil Corp, BP Plc, ConocoPhillips, Chevron Corp and Royal Dutch Shell Plc.

Mar 26, 2012

U.S. bill ending oil company tax cuts clears Senate hurdle

WASHINGTON, March 26 (Reuters) – Legislation repealing tax
breaks for major oil companies passed its first hurdle i n the
Senate on Mo nday, but is unlikely to become law, as Republicans
and Democrats seek to score political points over rising
gasoline prices.

The Senate voted 92 to 4 to proceed with consideration on
the bill that would eliminate billions of dollars in tax breaks
for the “big five” oil companies: Exxon Mobil Corp, BP
Plc, ConocoPhillips, Chevron Corp and
Royal Dutch Shell Plc.

Mar 21, 2012

US senators press for position limits in oil markets

WASHINGTON, March 21 (Reuters) – Ramping up pressure on U.S.
commodities regulators, a group of U.S. senators on Wednesday
unveiled legislation aimed at lowering skyrocketing fuel prices
by reining in excessive speculation in oil markets.

The bill would require the Commodity Futures Trading
Commission to use its emergency powers to impose position limits
in oil futures markets within 14 days of the measure becoming
law.

Mar 16, 2012

Analysis -Tapping oil from U.S. reserve may be trickier than ever

WASHINGTON (Reuters) – The U.S. Strategic Petroleum Reserve is not quite as strategic as it used to be.

As President Barack Obama moves closer to an unprecedented second release of the U.S. emergency oil stockpile in a bid to bring down near-record fuel prices, experts say dramatic logistical upheavals in the U.S. oil market over the past year may now make such a move slower and more complicated.

Mar 16, 2012

Analysis: Tapping oil from reserve may be trickier than ever

WASHINGTON (Reuters) – The Strategic Petroleum Reserve is not quite as strategic as it used to be.

As President Barack Obama moves closer to an unprecedented second release of the emergency oil stockpile in a bid to bring down near-record fuel prices, experts say dramatic logistical upheavals in the oil market over the past year may now make such a move slower and more complicated.

Mar 16, 2012

Tapping oil from US reserve may be trickier than ever

WASHINGTON, March 16 (Reuters) – The U.S. Strategic
Petroleum Reserve is not quite as strategic as it used to be.

As President Barack Obama moves closer to an unprecedented
second release of the U.S. emergency oil stockpile in a bid to
bring down near-record fuel prices, experts say dramatic
logistical upheavals in the U.S. oil market over the past year
may now make such a move slower and more complicated.

Mar 16, 2012

Analysis: Tapping oil from the SPR may be trickier than ever

WASHINGTON (Reuters) – The U.S. Strategic Petroleum Reserve isn’t quite as strategic as it used to be.

As President Barack Obama moves closer to an unprecedented second release of the U.S. emergency oil stockpile in a bid to bring down near-record fuel prices, experts say dramatic logistical upheavals in the U.S. oil market over the past year may now make such a move slower and more complicated.

Mar 1, 2012

US will not revoke LNG exports to control prices-DOE

WASHINGTON, March 1 (Reuters) – The U.S. Energy
Department will not attempt to control natural gas prices by
revoking approvals granted for gas export terminals, a
department official said, as lawmakers and green groups stepped
up their attacks on attempts to send U.S. gas abroad.

The department has argued that federal law gives it the
authority to revisit liquefied natural gas export applications
it has approved, but Deputy Assistant Secretary Christopher
Smith said the department would be hesitant to use this power.

Feb 27, 2012

US gasoline price surges 13 cents in latest week-EIA

WASHINGTON, Feb 27 (Reuters) – U.S. drivers paid 13
cents more at the pump in the past week, the government said
on Monday, reporting the biggest weekly spike in
nearly a year at a time of raging debate about energy policy in
a presidential election year.

U.S. gasoline prices have climbed nearly 20 cents in the
past two weeks, up 33.8 cents from a year ago, the U.S. Energy
Information Administration said in its weekly survey of service
stations.

Feb 27, 2012

Refinery shutdowns to drive up US Northeast fuel costs-EIA

NEW YORK/WASHINGTON, Feb 27 (Reuters) – The U.S.
Northeast should expect price spikes in gasoline and ultra-low
sulfur diesel if Sunoco Inc’s Philadelphia refinery
shuts down this summer, The U.S. Energy Information
Administration said on Monday.

Expanding on its earlier report on potential impacts of
refinery activities in the Northeast, the EIA said it expects a
160,000 barrel per day gap in gasoline supply on the East Coast
in 2012 if the Philadelphia refinery shuts down.

    • About Ayesha

      "A Howard University graduate, I began my career at Reuters as an intern covering hotels and airlines in New York. I now work in Washington D.C. covering energy policy and regulations."
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