WASHINGTON, March 9 (Reuters) – The U.S. Environmental
Protection Agency has agreed to work with the Wyoming state
government to retest water supplies after a federal report last
year concluded natural gas drilling likely polluted a local
The EPA has been investigating an aquifer near natural gas
drilling in Pavillion, Wyoming, for years after residents
complained their drinking water smelled and tasted odd.
WASHINGTON, March 8 (Reuters) – Global companies that
insure trade with Iran would be cut off from the U.S. financial
system under legislation two lawmakers introduced on Thursday
that aims to further tighten the financial noose around Tehran’s
Representatives Brad Sherman, a Democrat, and Ileana
Ros-Lehtinen, a Republican, introduced the bill that would
penalize underwriters that insure deals involving oil and gas
investments and shipments from Iran.
WASHINGTON, March 1 (Reuters) – Western trade
sanctions against Iran are strangling its oil exports even
before they go into effect, a U.S. advisory body has found, amid
warnings that any shortages will only push up crude prices and
strain a weak global economy.
With crude prices trading around 10-month highs and limited
spare production capacity worldwide, the United States may offer
Iran’s biggest customers waivers from the oil sanctions, which
take effect June 28.
WASHINGTON (Reuters) – Western sanctions on Iran are disrupting its oil exports and further restrictions could tighten global oil markets already hit by a rash of outages in other countries, a report required by the recent U.S. sanctions law said on Wednesday.
With world oil prices soaring, U.S. and European insurance companies are failing to insure deliveries of Iranian oil even before the full Western sanctions go into effect, according to a report by the Energy Information Administration on Wednesday.
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.