Energy & Environment Correspondent
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Oct 14, 2014

Ending U.S. oil export ban would lower fuel prices -study

WASHINGTON, Oct 14 (Reuters) – Ending a 40-year ban on U.S.
crude oil exports would lower domestic gasoline prices because
it would put more petroleum onto global markets, where fuel
prices are primarily set, said a study released on Tuesday.

As the U.S. oil boom of the last six years builds an excess
of light crude along the Gulf Coast refining hub, calls have
risen for Congress and the Obama administration to relax the ban
on shipments to global customers.

Oct 14, 2014

Ending U.S. oil export ban would not raise gasoline prices-study

WASHINGTON, Oct 14 (Reuters) – Ending a 40-year old ban on
U.S. crude oil exports would not raise domestic gasoline prices
because it would put more petroleum onto global markets, where
fuel prices are primarily set, a study by The Aspen Institute
said on Tuesday.

As the U.S. oil boom of the last six years builds an excess
of light crude along the Gulf Coast refining hub, calls have
risen for Congress and the Obama administration to relax the ban
on shipments to global customers.

Oct 7, 2014

As oil prices tank, new era of abundance seen dawning

By Edward McAllister and Timothy Gardner

(Reuters) – As oil production swells, demand falters and prices slide, the global oil marketĀ appears on the verge of a pivotal shift from an era of scarcity to one of abundance.

Oil prices have fallen as much as 20 percent since June, despite a host of rising supply risks, leading more investors and traders to consider whether 2015 is the year in which the U.S. shale oil boom finally tips the world into surplus.

Oct 6, 2014

U.S. agency queries energy firms ahead of export rulings

WASHINGTON, Oct 6 (Reuters) – The U.S. Commerce Department
has taken a small step toward resolving some two-dozen pending
requests to export lightly processed oil this summer, asking
energy companies to fill out a one-page questionnaire about
their plans, sources familiar with the document told Reuters.

The nine questions may help the department map out a further
easing of the four-decade old ban on crude exports.

Oct 1, 2014

Republicans craft 2015 plan to force Obama’s hand on Keystone

WASHINGTON, Oct 1 (Reuters) – Republicans plan to put
approval of the long-delayed Keystone XL oil pipeline on a fast
track early next year if they win a U.S. Senate majority in
November, finally forcing President Barack Obama to make a tough
call on the controversial plan.

The $10 billion Keystone project to connect Canadian oil
sands with U.S. refineries will top the list of Republican
energy priorities if they gain control of the Senate after the
Nov. 4 midterm elections. It could come as a stand-alone measure
or attached to must-pass legislation such as a government
spending or transportation bill, according to senators and
congressional aides.

Sep 20, 2014

Exxon winds down drilling as U.S. sanctions hit Russia

WASHINGTON (Reuters) – Exxon Mobil said on Friday it will wind down drilling in Russia’s Arctic in the face of U.S. sanctions targeting Western cooperation with Moscow’s oil sector, after the Obama administration granted a brief extension to safely mothball its operations.

Washington extended sanctions on Russia last week over its aggression in Ukraine. The new measures seek to stop billions of dollars worth of cooperation between Western and Russian energy companies on oil drilling in Russia’s Arctic, in Siberia and offshore. Companies have until Sept. 26 to stop the work.

Sep 19, 2014

Facing U.S. sanctions, Exxon winds down drilling in Russian Arctic

WASHINGTON, Sept 19 (Reuters) – Oil major Exxon Mobil
said on Friday the U.S. Treasury Department had granted
it a license to wind down operations on a drilling well in the
Kara Sea in the Russian Arctic that has been targeted by U.S.
sanctions.

Washington intensified sanctions on Russia last week over
its intervention in Ukraine. The new sanctions seek to stop
billions of dollars worth of cooperation between Western and
Russian energy companies on oil drilling in Russia’s Arctic, in
Siberia and offshore.

Sep 17, 2014

Exclusive: U.S. considering options if oil export ban challenged – sources

WASHINGTON (Reuters) – Obama administration officials are concerned about the legality of a ban on oil exports and have begun discussing how to deal with potential challenges from nations that want to buy U.S. crude, two sources said.

Officials in the Office of the U.S. Trade Representative and the National Security Council have each held internal talks about potential free-trade challenges from South Korea and NATO allies, two sources familiar with the matter said.

Sep 10, 2014

U.S., EU ready new sanctions to stop oil exploration in Russia

WASHINGTON (Reuters) – The United States and European Union plan to stop billions of dollars in oil exploration in Russia by the world’s largest energy companies including Exxon Mobil Corp and BP Plc, U.S. government sources said.

The planned sanctions over Russia’s aggression toward Ukraine would ban U.S. and European companies from cooperating with Russia on searching its Arctic territory, deep seas or shale formations for crude, said two U.S. officials who spoke on condition of anonymity because the measures have not been made public.

Sep 4, 2014

U.S. refiners attack government exemptions to oil export ban

WASHINGTON, Sept 4 (Reuters) – Four big U.S. oil refiners
launched their first broadside on Thursday against Washington’s
decision to approve exports of lightly processed crude oil,
urging U.S. regulators in a letter to stop issuing permits.

In the letter to the Commerce Department a lobbyist group
called Consumers and Refiners United for Domestic Energy, or
CRUDE, which represents the four U.S. refiners, blasted the
government for allowing the shipments, saying they contravene a
nearly 40-year-old ban on oil exports.

    • 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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