WASHINGTON (Reuters) – To help shrink its growing glut of oil, the United States could swap light crude to nearby countries without having to issue time-consuming new rules or findings, according to a report released on Thursday by a senior senator.
The debate about overturning a 40-year-old ban on U.S. oil exports has sharpened as the domestic boom is expected to make the United States the world’s top crude producer by next year, bigger than both Saudi Arabia and Russia. Brimming supplies could begin to discourage U.S. energy companies from producing crude sometime next year.
WASHINGTON, May 12 (Reuters) – U.S. Senate Republicans on
Monday blocked an energy-efficiency bill backed by manufacturers
and environmentalists, forfeiting a chance to vote on the
long-delayed Keystone XL oil pipeline.
On a nearly party-line vote of 55-36, President Barack
Obama’s Democrats fell short of the 60 votes needed to advance
the bipartisan energy bill supported by the White House.
WASHINGTON, April 29 (Reuters) – U.S. Senate Majority Leader
Harry Reid, in an abrupt election-year shift in strategy, opened
the possibility on Tuesday of allowing a vote on congressional
approval of the long-delayed Keystone XL oil pipeline.
“I’m open to anything that will move energy efficiency,”
Reid, a long-time foe of the project, told reporters.
WASHINGTON, April 22 (Reuters) – The spotlight on
TransCanada Corp’s Keystone XL pipeline has obscured
another project that would send more Canadian oil sands
petroleum to the United States, but this one too is struggling
Enbridge Inc hopes to expand its Clipper pipeline
that currently sends up to 500,000 barrels of oil per day from
Hardisty, Alberta, to Superior, Wisconsin, in order to further
tap Western Canada’s oil sands, the world’s third-largest crude
oil reserve, behind Venezuela and Saudi Arabia.
LONDON/WASHINGTON, April 11 (Reuters) – Iran’s crude oil
exports have surged to their highest in 20 months, far exceeding
a 1 million barrel-per-day limit set by the West under an
interim deal on curbing Tehran’s nuclear program.
The International Energy Agency’s monthly report revised
February’s global crude imports from Iran upwards by 240,000 bpd
to 1.65 million barrels per day, the highest since June 2012.
WASHINGTON, April 10 (Reuters) – The United States could
give Europe and Ukraine relief from energy dependence on Russia
within months if it overturned the 40-year ban on most U.S.
crude oil exports, the head of energy company Hess Corp.
said on Thursday.
“There’s something we can do today to help our allies now,
and that’s give the green light to crude exports,” Chief
Executive Officer John Hess said at the Center for Strategic and
International Studies, a Washington-based think tank.
WASHINGTON (Reuters) – The U.S. Commerce Department could help energy companies start to bypass a 40-year ban on most U.S. crude oil exports by allowing shipments of a type of petroleum that has become abundant during the energy boom, a key senator said on Wednesday.
The department’s Bureau of Industry and Security (BIS) can allow the exports of an unprocessed light oil called condensate without an act of Congress, simply by modernizing its definition of crude, Senator Lisa Murkowski, a Republican from Alaska, told a House of Representatives subcommittee.
WASHINGTON (Reuters) – A U.S. government office has the power to approve exports of an abundant type of petroleum and help energy companies begin to partially bypass a 40-year ban on crude exports, according to a report released on Tuesday by Lisa Murkowski, the top Republican on the Senate Energy and Natural Resources Committee.
The ban on crude exports the government put in place after the Arab oil embargo of the 1970s includes a prohibition on exports of unprocessed condensate, a light petroleum that appears in oil reservoirs as a gas, but condenses to a liquid when it leaves the well.
WASHINGTON (Reuters) – The Obama administration will propose a strategy to slash emissions of the potent greenhouse gas methane as soon as Friday, a source with an environmental group said.
The strategy is part of President Barack Obama’s climate action plan announced last year. The source, who could not be named because the plan has not been released, said the strategy could target everything from agriculture to mining and energy industries, but could not offer any other details.
WASHINGTON, March 26 (Reuters) – Ending the 40-year ban on
U.S. crude exports is the fastest way the American drilling boom
could bolster energy security in Europe and Ukraine, the CEO of
the biggest operator in North Dakota’s vast oil fields told
lawmakers on Wednesday.
After Russia’s invasion of the Crimean region of Ukraine,
several U.S. lawmakers have introduced bills pushing the
government to speed approvals of U.S. liquefied natural gas
exports. They say the extra U.S. supplies would provide Europe
with an alternative to supplies from Russia, from which it
currently gets nearly a third of its fuel.