The federal government predicts that trains hauling crude oil or ethanol will derail an average of 10 times a year over the next two decades, causing more than $4 billion in damage and possibly killing hundreds of people if an accident happens in a den…
The Interior Department’s proposal would for the first time impose specific mandates on offshore drilling in isolated U.S. Arctic waters — updating rules that were built decades ago for the much more temperate Gulf of Mexico.
At issue is a Pemex affiliate’s request to export 100,000 barrels per day of light U.S. oil and condensates in exchange for heavy Mexican crude — a transaction that can be approved by U.S. regulators on a case-by-case basis under existing trade laws.
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