Energy Correspondent
Tom's Feed
Jun 15, 2011

Duke sees danger if US hooked on natgas

HOUSTON/WASHINGTON (Reuters) – The rush to natural gas in the United States could lead the country to become too dependent on a single fuel source for its power and risk making it dependent on foreign suppliers in the coming decades, Duke Energy (DUK.N: Quote, Profile, Research, Stock Buzz) chief Jim Rogers warned on Wednesday.

That shift to natural gas threatens to undermine the diversity in the electricity industry’s fuel supplies that has been developed over the past 40 years, Rogers, Duke’s chief executive and chairman, told the Reuters Global Energy and Climate Summit in Washington.

Jun 15, 2011

CFTC position limit plan not expected soon: Gensler

WASHINGTON (Reuters) – The head of the U.S. Commodity Futures Trading Commission said the agency will not introduce its long-awaited position limits plan anytime soon as the futures regulator heard renewed calls from lawmakers pushing it to act over high energy prices.

The Dodd-Frank law gives the CFTC the power to set limits on the positions investors can take to curb excessive speculation “as appropriate” in energy, metals and agricultural markets. The CFTC proposed its plan in January, and since then has received an estimated 12,000 public comments on the measure.

Jun 14, 2011

Tight Senate vote seen on ethanol subsidy

WASHINGTON (Reuters) – The ethanol industry’s subsidies expire at the end of this year but the battle in Congress over whether to eliminate them — amid efforts to cut the budget and lower food costs — has come six months early.

The Senate is scheduled to vote on Tuesday on a proposal from Republican Senator Tom Coburn to end the federal ethanol tax credit and the tariff on ethanol imports.

Jun 13, 2011

Tight Senate vote seen on ending ethanol subsidy

WASHINGTON (Reuters) – The ethanol industry’s subsidies expire at the end of this year but the battle in Congress over whether to eliminate them — amid efforts to cut the budget and lower food costs — has come six months early.

The U.S. Senate is scheduled to vote on Tuesday on a proposal from Republican Senator Tom Coburn to end the federal ethanol tax credit and the tariff on ethanol imports.

Jun 8, 2011

U.S., IEA eye strategic oil stocks if Saudi falls short

WASHINGTON (Reuters) – Oil consuming nations said they stood ready to tap into emergency stocks if Saudi Arabia didn’t quickly pump more oil, responding with dismay to OPEC’s failure to agree an increase in output Wednesday.

Unusually blunt references from both the White House and the International Energy Agency to drawing down the industrialized world’s 1.5 billion barrels in government-controlled oil inventories follows the shocking breakdown in talks of the Organization of the Petroleum Exporting Countries in Vienna.

Jun 7, 2011

World oil demand to grow more than expected – U.S. govt

WASHINGTON (Reuters) – The U.S. government on Tuesday raised its world oil demand forecast for 2011 on expectations Japan and other countries will need more crude to generate electricity, a surprise move that adds pressure on OPEC to boost production.

The U.S. Energy Information Administration projected world oil consumption would rise by 1.7 million barrels per day to 88.43 million bpd this year, upping the monthly forecast by 300,000 bpd from its estimate in May.

Jun 6, 2011

U.S. may cut oil demand view, stoking OPEC argument

WASHINGTON (Reuters) – High fuel prices and weak U.S. economic numbers could prompt the U.S. government’s energy forecasting agency to cut its global oil demand estimate for the second month running, a move that may stoke already contentious debate within OPEC over raising oil output.

While the U.S. Energy Information Administration’s monthly energy outlook on Tuesday is unlikely to sway the outcome of Wednesday’s OPEC meeting, it will be the most up-to-date set of supply and demand data that ministers will consider.

Jun 5, 2011

U.S. oks restart of Keystone pipeline

WASHINGTON/CALGARY (Reuters) – TransCanada Corp can restart its Keystone oil pipeline on Sunday, after the company satisfied a series of safety conditions following leaks that idled the key export line twice in less than a month, the U.S. pipeline safety regulator said on Saturday.

The U.S. Pipeline and Hazardous Materials Safety Administration said it approved resumption of crude flows from Canada on the pipeline after the agency evaluated the company’s restart plan and was satisfied safety requirements were met.

Jun 4, 2011

US oks restart of Keystone pipeline to ship Canada oil

WASHINGTON/CALGARY, June 4 (Reuters) – TransCanada Corp
(TRP.TO: Quote, Profile, Research, Stock Buzz) can restart its Keystone oil pipeline on Sunday, after
the company satisfied a series of safety conditions following
leaks that idled the key export line twice in less than a
month, the U.S. pipeline safety regulator said on Saturday.

The U.S. Pipeline and Hazardous Materials Safety
Administration said it approved resumption of crude flows from
Canada on the pipeline after the agency evaluated the company’s
restart plan and was satisfied safety requirements were met.

Jun 3, 2011

Regulator sets conditions on Keystone oil line restart

CALGARY/WASHINGTON, June 3 (Reuters) – U.S. regulators said
on Friday they will not let TransCanada Corp (TRP.TO: Quote, Profile, Research, Stock Buzz) restart
its Keystone oil pipeline until they are satisfied that
problems that caused at least two leaks in a month are fixed.

The corrective action order from the U.S. Pipeline and
Hazardous Materials Safety Administration added uncertainty to
the timing of resuming flows on the 591,000 barrel a day
pipeline, pushing oil futures up as much as 50 cents a barrel
as traders braced for a longer loss of Canadian crude imports.

    • About Tom

      "I have covered energy issues from the Reuters Washington bureau since 1997. These days I'm writing about the Obama administration's overhaul of U.S. energy policy, which focuses on developing alternative energy sources like wind and solar power and seeks to reduce petroleum use. However, the United States and the rest of world will rely on oil as a major energy source for the forseeable future. That's why much of my reporting still looks at legislation, regulations and White House policies that affect the oil industry, petroleum supplies and fuel demand."
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