WASHINGTON (Reuters) – A U.S. government report on the global oil markets due on Wednesday could help determine how tough the Obama administration will be enforcing sanctions against Iran and provide information it needs to combat rising oil prices.

The Energy Information Administration Wednesday morning will give a snapshot of global petroleum prices and production in countries besides Iran. The report, which the Obama administration pushed for, is required by the National Defense Authorization Act spelling out the Iran sanctions, signed into law two months ago.

WASHINGTON (Reuters) – The White House proposed more funds for renewable energy and pipeline safety in the 2013 budget while renewing the call to end subsidies for the oil and gas sector.

The budget proposes $27.2 billion for the Department of Energy, a 3.2 percent increase of what Congress enacted last year, and includes $2.3 billion for research and development for energy efficiency, advanced vehicles and biofuels.

WASHINGTON, Feb 9 (Reuters) – An internal watchdog on
Thursday cleared the U.S. State Department of allegations that
there were conflicts of interest between a contractor hired to
review the Keystone XL oil pipeline and TransCanada,
the developer of the $7 billion project.

Lawmakers concerned about the environmental impact of the
pipeline, which President Barack Obama has put on ice for
further environmental study, had requested the State
Department’s Inspector General take a closer look at the players
involved in reviewing the project.

WASHINGTON, Feb 3 (Reuters) – The U.S. government will
require natural gas drillers to disclose which chemicals they
use in hydraulic fracturing on public lands, according to draft
rules crafted by the Interior Department.

President Barack Obama pledged in the State of the Union
address last week that the government would develop a road map
for responsible natural gas production and roll out new rules to
ensure drillers protect the environment.

WASHINGTON (Reuters) – President Barack Obama will soon get regular, albeit incomplete, reports on how oil markets are coping ahead of broader sanctions on Iran that could help him justify easing off sanctions to prevent a politically damaging jump in crude prices.

Under the latest Iranian sanctions signed into law late last year, the U.S. Energy Information Administration must begin issuing reports by Feb 29 and every two months after that on oil production and prices as the United States moves to squelch Iranian oil shipments.

WASHINGTON (Reuters) – The International Monetary Fund warned on Wednesday that global crude prices could rise as much as 30 percent if Iran halts oil exports as a result of U.S. and European Union sanctions.

If Iran halts exports to countries without offsets from other sources it would likely trigger an “initial” oil price jump of 20 to 30 percent, or about $20 to $30 a barrel, the IMF said in its first public comment on a possible Iranian oil supply disruption.

WASHINGTON (Reuters) – The International Monetary Fund warned on Wednesday that global crude prices could rise as much as 30 percent if Iran halts oil exports as a result of U.S. and European Union sanctions.

If Iran halts exports to countries without offsets from other sources it would likely trigger an “initial” oil price jump of 20 to 30 percent, or about $20 to $30 a barrel, the IMF said in its first public comment on a possible Iranian oil supply disruption.

WASHINGTON (Reuters) – A U.S. “special review” of the State Department’s handling of permitting for the Canada-to-Texas Keystone XL oil pipeline is nearly complete and will likely be released in coming weeks, a federal government source said on Thursday.

The timing could mean the results of the review by the State Department’s internal watchdog are made public before President Barack Obama is slated to decide whether to allow a permit for the $7 billion project, or rule it not in the national interest.

WASHINGTON/NEW YORK (Reuters) – Federal regulators are considering retesting water supplies at a small town in Pennsylvania that residents say have been contaminated by natural gas drilling.

Just a month after declaring water in Dimock safe, officials from the Environmental Protection Agency are taking another look after new evidence suggested that drinking water could be polluted worse than originally thought.

WASHINGTON (Reuters) – The payroll tax bill passed by Congress contains a provision forcing President Barack Obama to speed his decision on the Keystone XL oil pipeline, but his approval is far from certain.

The bill, which passed on Friday, said Obama must grant a permit for TransCanada Corp’s Canada to Texas pipeline in 60 days, unless he determines the line does not serve the national interest.