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International Brent crude rose slightly Tuesday after reaching an 11-year low on Monday.
The move comes just in time for a busy holiday driving season with so many people hitting the road to spend time with family and friends. This is the lowest gas prices have dropped since March 2009.
President Barack Obama’s signature on a sweeping spending bill immediately lifted a 40-year ban on exports of U.S. crude.
Calpine, the owner of the nation’s largest fleet of gas power plants, walks a fine line in supporting the Paris talks and the federal Clean Power Plan to reduce emissions at power plants, while also opposing the five-year extensions of wind and solar tax credits in the federal budget approved Friday by Congress. Hill supports a carbon tax, but in a “level playing field” without tax credits.
Houston’s unemployment rate rose a tenth of a percentage point to 4.9 percent in November.
The commission signed off on the need for the $600 million Houston Import Project and a route adjusted slightly to address concerns in communities through which it will run.
The U.S. Energy Information Administration said domestic oil tanks last week took in an additional 4.8 million barrels of crude, boosting inventories to 490.7 million barrels. That’s the largest amount of oil the nation has had in reserve since a record-setting supply bulge in April.
Charif Souki said he intends to stay on Cheniere Energy Inc.’s board of directors for the time being and that the company doesn’t have the authority to remove him until at least June.
The pair of Houston-based oil field services giants said they have been unable to resolve the Justice Department’s concerns over the deal by today’s deadline.
Congress may be close to reaching an overall budget deal that would include lifting the exports, which would equate to an early Christmas present for exploration and production companies seeking more buyers for their oil and also a “stocking full of soot for the refiners,” Wells Fargo Securities said in a new report.