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Jan 6, 2015

Republicans push Keystone bill, White House threatens veto

WASHINGTON, Jan 6 (Reuters) – Republican senators kicked off
the new U.S. Congress with legislation to approve the hotly
disputed Keystone XL oil pipeline, but the White House promptly
threatened a veto.

With Republicans assuming full control of Congress on
Tuesday after their victories in the November election, they
have put Keystone at the center of their legislative agenda and
plan weeks of debate.

Jan 6, 2015

Republicans push Keystone XL bill with plan to skirt any veto

WASHINGTON (Reuters) – Republican senators this week made good on a campaign promise and kicked off the new Congress with a bill to approve the Keystone XL pipeline, saying if President Barack Obama vetoes it, they have a plan to pass the measure later in the year.

Senator John Hoeven, a North Dakota Republican, introduced a bill on Tuesday to approve TransCanada Corp’s (TRP.TO: Quote, Profile, Research, Stock Buzz) project that would transport more than 800,000 barrels per day of mostly Canadian heavy oil to Nebraska en route to refineries along the U.S. Gulf Coast.

Jan 2, 2015

U.S. Senate panel to introduce Keystone XL bill Thursday

WASHINGTON, Jan 2 (Reuters) – The head of the Senate energy
committee plans to introduce a bill next week to force approval
of the Keystone XL oil pipeline, though the full chamber faces a
battle in obtaining needed votes to overcome any veto by
President Barack Obama.

Keystone supporters say they picked up votes for TransCanada
Corp’s $8 billion project in November’s midterm
elections, including Republicans Shelley Moore Capito, from West
Virginia, and Joni Ernst, from Iowa.

Jan 2, 2015

Senate panel plans to introduce Keystone XL bill next week

WASHINGTON (Reuters) – The head of the Senate energy committee plans to introduce a bill next week to force approval of the Keystone XL oil pipeline, though the full chamber faces a battle in obtaining needed votes to overcome any veto by President Barack Obama.

Senator Lisa Murkowski, an Alaska Republican and the new head of the energy committee, will introduce the bill next week after a hearing on TransCanada Corp’s $8 billion project, her spokesman said.

Dec 31, 2014

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 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.

    • 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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