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Chamber study predicts Obama climate rule will kill jobs

The nation’s biggest business lobby says President Barack Obama’s plan to tackle climate change could cost the U.S. economy $50 billion a year. Supporters predict it will create jobs and lower power bills.  More »

Fracking sucks money from wind while China eclipses US

U.S. President Barack Obama says natural gas can be a bridge from coal to a cleaner energy future. Investors are showing it’s more likely a bridge to nowhere.  More »

Statoil rig kept idle in Arctic by Greenpeace activists (photos)

Greenpeace activists occupied a Statoil ASA rig in Norway’s Arctic Barents Sea for a second day, preventing it from reaching the nation’s northernmost oil exploration well the protesters say may harm the environment.  More »

Phillips 66 says court supports Sweeny takeover from PDVSA

The International Chamber of Commerce’s Court of Arbitration last month upheld Phillips 66’s right to exercise a call option in 2009 and assume PDVSA’s interest in Merey Sweeny LP, Rich Johnson, a spokesman for the Houston-based refiner, said in an e-mail Wednesay.  More »

Westlake buys European resins maker for $667M

“The acquisition of Vinnolit is an excellent strategic fit for Westlake,” Chief Executive Officer Albert Chao said.  More »

Nabors defends two board members targeted by proxy advisers

Nabors Industries defended the records of two directors, saying shareholders should ignore recommendations from two proxy advisers that they be voted off the board at the next election.  More »

Anadarko’s $5 billion pollution settlement wins approval

Anadarko Petroleum Corp.’s agreement to pay $5.15 billion for pollution cleanup across the U.S. was approved over objections from people who said their illnesses won’t be properly compensated.  More »

Japanese lawmakers to lobby for Russian gas pipeline

Japanese lawmakers are reviving efforts for a $5.9 billion natural gas pipeline from Russia to cut energy costs after the Fukushima nuclear disaster.  More »

Shakeout threatens shale patch as frackers go for broke

The U.S. shale patch is facing a shakeout as drillers struggle to keep pace with the relentless spending needed to get oil and gas out of the ground.  More »

Greenpeace boards rig heading for Norway’s northernmost drilling site

Activists from environmental group Greenpeace boarded a Statoil rig en route to drill Norway’s northernmost exploration well in the Barents Sea, saying it’s too close to the polar ice cap and a key nature reserve.  More »

BP loses bid to halt oil spill payments during high court review

BP can’t delay writing checks for hundreds of millions of dollars in damage claims while it asks the U.S. Supreme Court to review disputed payments in its $9.2 billion accord over the 2010 Gulf of Mexico oil spill.  More »

Europe’s Russian gas addiction skews sanctions debate

European leaders, while calling Ukraine’s May 25 presidential election a success, are still facing a deeper dilemma: how to free their countries from an addiction to Russian energy.  More »
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