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Oct 4, 2012

Cuts in tax breaks for oil, gas “on the table” – Romney

WASHINGTON (Reuters) – Republican presidential challenger Mitt Romney hinted he could eliminate billions of dollars in U.S. oil and tax breaks if he were elected, but the reductions would be far less than what President Barack Obama wants.

Romney signalled in the first presidential debate in Denver on Wednesday that annual reductions of some $2.8 billion in tax breaks for oil and natural gas companies could be eventually traded for a lower corporate tax rate if he won on November 6.

Sep 29, 2012

Nuclear site ends security contract following nun’s break-in

WASHINGTON (Reuters) – The government’s “Fort Knox” of weapons-grade uranium storage has ended a contract with a unit of an international security firm two months after an 82-year-old nun and other nuclear activists broke into the site.

The managing contractor at the Oak Ridge, Tennessee, site, B&W Y-12, a unit of Babcock & Wilcox Co, said late on Friday it will terminate the contract with WSI Oak Ridge on October 1. WSI is owned by security firm G4S, which was at the center of a dispute over security at this year’s London Olympic Games.

Sep 29, 2012

U.S. nuclear site ends security contract following nun’s break-in

WASHINGTON (Reuters) – The U.S. government’s “Fort Knox” of weapons-grade uranium storage has ended a contract with a unit of an international security firm two months after an 82-year-old nun and other nuclear activists broke into the site.

The managing contractor at the Oak Ridge, Tennessee, site, B&W Y-12, a unit of Babcock & Wilcox Co, said late on Friday it will terminate the contract with WSI Oak Ridge on October 1. WSI is owned by security firm G4S, which was at the centre of a dispute over security at this year’s London Olympic Games.

Sep 16, 2012

US lauds Saudi commitment to help moderate oil price

WASHINGTON, Sept 16 (Reuters) – The White House embraced
over the weekend recent comments by Saudi Arabia’s energy
minister some market watchers had taken as a signal that
consumer nations need not release emergency petroleum reserves
to calm oil prices.

Saudi Arabia’s Oil Minister Ali al-Naimi said in a statement
on Sept. 10 that the world’s largest crude exporter was
concerned about high oil prices, would take steps to moderate
them, and would meet any additional demand from its customers.

Sep 14, 2012

U.S. renews waivers of Iran sanctions for Japan, EU nations

SINGAPORE/WASHINGTON (Reuters) – The United States has renewed waivers on Iran sanctions for Japan and 10 European countries because they cut their purchases of the OPEC nation’s crude oil, Secretary of State Hillary Clinton said on Friday.

The renewal means banks in the 11 countries have been given a second 180 day reprieve from the threat of being cut off from the U.S. financial system under the sanctions designed to choke funding to Iran’s nuclear program.

Sep 7, 2012

U.S. officials fret emergency oil won’t ease fuel prices: sources

WASHINGTON (Reuters) – Obama administration officials told energy experts this week they worry a release of crude from U.S. emergency reserves would do little to temper global oil prices partly driven by tighter supplies of refined fuel like gasoline.

At an informal consultation on Thursday, mid-level officials from the National Security Council, the Department of Energy and other bureaus made clear a top concern was tight oil product markets caused by constraints in refining capacity, two outside energy experts who attended the meeting said on Friday.

Sep 7, 2012

White House consults experts as it mulls tapping oil reserve

WASHINGTON (Reuters) – Obama administration officials met with a handful of oil market experts on Thursday as the White House considers the merits of another release of emergency oil reserves – potentially one much larger than the last.

The meeting, originally scheduled for August but delayed by summer vacations, did not center entirely on the Strategic Petroleum Reserve (SPR), according to non-government sources who attended the meeting.

Sep 6, 2012

White House consults oil experts on SPR; some say “go big”

WASHINGTON (Reuters) – Obama administration officials met with a handful of oil market experts on Thursday as the White House considers the merits of another release of emergency oil reserves — potentially one several times larger than the last.

The meeting, originally scheduled for August but delayed by summer vacations, did not center entirely on the Strategic Petroleum Reserve, according to nongovernment sources who attended the meeting. But it was still read by some as a sign that President Barack Obama is intent on pressing ahead with an unprecedented second tapping of government oil supplies.

Jul 29, 2012

U.S. probes Enbridge Wisconsin oil pipe spill; line still shut

WASHINGTON/CALGARY (Reuters) – The U.S. pipeline safety agency launched an investigation on Saturday into an oil spill in Wisconsin on Enbridge Inc’s network that briefly shut much of the company’s pipeline system feeding Canadian crude to the U.S. Midwest.

Enbridge’s 318,000 barrel per day Line 14 pipeline, which carries light sweet Canadian crude to Chicago-area refineries, was shut on Friday after an estimated 1,200 barrels of oil were leaked, and the Canadian company said on Saturday it did not have a restart time for the pipeline yet.

Jul 28, 2012

US pipeline agency probes Enbridge oil spill in Wisconsin

WASHINGTON, July 28 (Reuters) – The U.S. pipeline safety
agency launched an investigation on Saturday into an oil spill
in Wisconsin on Enbridge Inc’s network that forced the
partial shutdown of a main artery carrying light sweet Canadian
crude to Chicago-area refineries.

Enbridge’s 318,000 barrel per day Line 14 pipeline, part of
the Lakehead system, was shut after an estimated 1,200 barrels
of oil were leaked. This happened almost two years to the day
after another major spill in a different section of the line, in
Michigan.

    • About Timothy

      "I cover U.S. energy and environment policy and climate change. Moved to DC in late 2009 after a decade in New York. Author of "Diminishing Resources:Oil," which is one in a series of books for young adults."
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