Energy & Environment Correspondent
Timothy's Feed
Dec 31, 2014

Analysis – U.S. opening of oil export tap widens battle for global market

WASHINGTON/NEW YORK (Reuters) – The Obama administration has opened a new front in the global battle for oil market share, effectively clearing the way for the shipment of as much as a million barrels per day of ultra-light U.S. crude to the rest of the world.

The Department of Commerce on Tuesday ended a year-long silence on a contentious, four-decade ban on oil exports, saying it had begun approving a backlog of requests to sell processed light oil abroad. It also issued a long-awaited document outlining exactly what kinds of oil other would-be exporters can ship.

Dec 30, 2014

U.S. opens door to oil exports after year of pressure

WASHINGTON (Reuters) – The Obama administration on Tuesday bowed to months of growing pressure over a 40-year-old ban on exports of most domestic crude, taking two steps expected to unleash a wave of ultra-light shale oil onto global markets.

The Bureau of Industry and Security, or BIS, which regulates export controls, said it had granted permission to “some” companies to sell lightly treated condensate abroad. Condensate is a form of ultra-light crude.

Dec 30, 2014

U.S. issues first guidance on what petroleum can be exported

WASHINGTON, Dec 30 (Reuters) – The Obama administration on
Tuesday took two long-awaited steps that could increase the
amount of processed light crude that can be shipped under the
40-year-old ban on exports of most domestic crude.

The Bureau of Industry and Security (BIS) released the
guidance in the form of frequently asked questions (FAQ) in the
first effort by the administration to clarify an issue that has
caused confusion and consternation in energy markets for more
than a year.

Dec 30, 2014

U.S. to issue first guidance on what petroleum can be exported – source

WASHINGTON (Reuters) – The Obama administration will release
as soon Tuesday a long-awaited explanation of what petroleum is
allowed to be shipped under the contentious 40-year ban on
exports of most domestic crude, a government source said.

The Bureau of Industry and Security will release guidance on
what kinds of oil energy companies can export, in the first
effort by the administration to bring light to an issue that has
caused confusion and consternation in energy markets for more
than a year.

Dec 23, 2014

Asia heartened by Wall Street high, dollar in demand

SYDNEY (Reuters) – Asian markets should be well underpinned on Tuesday after Wall Street closed at historic highs while oil prices suffered a vicious setback after Saudi Arabia quashed all thought of cutting supply.

The revival in risk appetites undermined the safe haven yen and kept the U.S. dollar elevated across the board, while sovereign bonds were content to consolidate recent gains.

Dec 12, 2014

U.S. Congress readies new sanctions on Russia

WASHINGTON, Dec 12 (Reuters) – U.S. lawmakers were expected
on Friday to approve new sanctions on Russian weapons companies
and investors in the country’s high-tech oil projects, putting
more U.S. pressure on President Vladimir Putin for interference
in eastern Ukraine.

Late on Thursday, the Senate and House of Representatives
unanimously passed the Ukraine Freedom Support Act. A House
panel made a small change and sent the bill back to the Senate
for a last vote expected as soon as late Friday.

Dec 11, 2014

U.S. lawmakers give preview of coming oil export fight

WASHINGTON (Reuters) – U.S. lawmakers gave a preview on Thursday of a looming fight next year on lifting the ban on crude exports with supporters saying it would sustain the drilling boom and others questioning its impacts on industry and fuel prices.

In a House of Representatives hearing on the ban, Texas Republican Joe Barton said exporting oil would boost the economy, lower gas prices, and help give allies alternative oil supplies to Russia.

Dec 8, 2014

Congressman to introduce bill to lift U.S. oil export ban

WASHINGTON (Reuters) – U.S. Representative Joe Barton will introduce a bill on Tuesday to lift the 40-year ban on exports of crude oil, but the measure has almost no chance of passing due to lawmaker concerns about fuel prices and costs to refiners.

Barton, a Republican from Texas, will introduce a bill to lift the export ban Congress passed in the 1970s after the Arab oil embargo led to fears of fuel shortages, an aide said.

Nov 19, 2014

Keystone XL pipeline bill dies in Senate

WASHINGTON, Nov 18 (Reuters) – A bill to force approval of
the Keystone XL pipeline failed in the U.S. Senate on Tuesday,
sparing President Barack Obama from having to veto legislation
that several fellow Democrats supported.

The measure fell just short of the 60 votes needed for
passage, despite frantic last-minute lobbying by supporters,
including Democratic Senator Mary Landrieu of Louisiana who
faces a runoff election on Dec. 6. She has staked her hopes of
winning on the Keystone gambit.

Nov 18, 2014

U.S. Senate heads for vote on Keystone XL pipeline

WASHINGTON (Reuters) – Backers of the Keystone XL oil pipeline hope a vote in the U.S. Senate late on Tuesday will send a bill to the desk of President Barack Obama.

With the chamber apparently stuck at 59 votes in favor of Keystone XL, Senator Mary Landrieu worked hard on Monday to gather one last vote. Late in the day it seemed the Louisiana Democrat would come up just short, likely hurting her chances of winning a new six-year term in a December run-off election.

    • 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."
    • Follow Timothy