WASHINGTON, July 16 (Reuters) – A leading U.S. oil executive
urged legislators on Tuesday to relax a requirement to use
renewable fuel in gasoline, blaming an “out of control” market
in biofuel credits known as RINs for adding to fuel costs in a
recent run-up in gasoline prices.
At a Senate Energy Committee hearing, lawmakers sought
answers for why a surge in domestic crude oil production to the
highest level in over two decades had failed to bring down fuel
prices. Average U.S. gasoline rates jumped 15 cents over the
past week to $3.64 a gallon on Monday, data showed.
WASHINGTON, July 16 (Reuters) – As U.S. gasoline prices
spike for the second time this year, oil industry officials will
tell Congress on Tuesday that easing a mandate for the use of
renewable fuels and other measures could help stabilize gas
Despite rising domestic oil production, the average U.S.
regular gasoline price jumped nearly 15 cents from a week ago to
$3.64 a gallon on Monday, according to the U.S. Energy
WASHINGTON, July 11 (Reuters) – Rising temperatures and sea
levels will profoundly impact the U.S. energy sector in coming
years, the U.S. Department of Energy said in a report released
on Thursday that outlined the need to mitigate the effects of
climate change on power and fuel supplies.
The report warns of the risks of storms and coastal flooding
to important oil and gas installations, the degrading effects of
heat on the nation’s electrical distribution system and how
water scarcity could crimp new drilling technologies.
WASHINGTON, July 10 (Reuters) – A bipartisan group of U.S.
senators on Wednesday called on the Energy Department to speed
up its planned review process for proposals to ship U.S.
liquefied natural gas (LNG) abroad.
“We are concerned that the timeline for considering these
applications may jeopardize our ability to retain a competitive
position against other natural gas exporting nations,” more than
two dozen lawmakers, including top Senate Republican Mitch
McConnell, said in a letter to Energy Secretary Ernest Moniz.
WASHINGTON (Reuters) – Gina McCarthy’s embattled nomination to head the U.S. Environmental Protection Agency cleared a hurdle on Tuesday when one of her top Republican critics said he would not block a Senate vote on her appointment.
David Vitter of Louisiana, the ranking Republican on the Senate Environment and Public Works Committee, said he would support a full Senate vote on McCarthy now that the EPA had agreed to a series of requests he made to address complaints about transparency at the agency.
WASHINGTON (Reuters) – The Obama administration on Thursday dropped plans to further investigate preliminary federal findings that linked contamination of a Wyoming aquifer to natural gas drilling, following industry backlash that called the study into question.
The draft report released by the Environmental Protection Agency in late 2011 sent shockwaves through the oil and gas sector, by finding that hydraulic fracturing fluids used in shale gas drilling had likely contaminated groundwater in Pavillion, Wyoming.
WASHINGTON (Reuters) – U.S. companies hoping to export natural gas are frustrated by lengthy delays and rule changes as they await U.S. Department of Energy approval of their applications and may turn to the courts to speed up the process.
Both the slow pace of decisions on applications to ship U.S. liquefied natural gas abroad and the process for making those decisions could be challenged, legal sources say.
WASHINGTON, June 18 (Reuters) – U.S. companies hoping to
export natural gas are frustrated by lengthy delays and rule
changes as they await U.S. Department of Energy approval of
their applications and may turn to the courts to speed up the
Both the slow pace of decisions on applications to ship U.S.
liquefied natural gas abroad and the process for making those
decisions could be challenged, legal sources say.
WASHINGTON (Reuters) – Delays in approval of more natural gas export projects are costing U.S. companies millions of dollars a day and giving a leg up to rival countries also looking to boost exports, the chief of Exxon Mobil Corp (XOM.N: Quote, Profile, Research, Stock Buzz) said on Thursday.
The comments by Exxon’s Rex Tillerson came hours after new U.S. Energy Secretary Ernest Moniz told lawmakers he hopes to “expeditiously” begin evaluating the more than a dozen applications awaiting approval to export liquefied natural gas (LNG).
WASHINGTON (Reuters) – The Environmental Protection Agency is monitoring the U.S. ethanol market to see if refiners will be able to comply with a mandated increase in targets for biofuel use in 2014, an EPA official told lawmakers on Wednesday.
The market for credits purchased by refiners to comply with the federal biofuel mandate has been unstable for several months as the United States nears the point where the law will require the use of more ethanol than can be physically blended into the fuel supply at the current level of 10 percent per gallon.