Department of Environmental Conservation Commissioner Joe Martens announced the decision Monday, saying a ban was the “only reasonable alternative” after “years of exhaustive research and examination of the science and facts.”
A federal appeals court last year upheld Barbier’s conclusion about BP’s and Anadarko’s liability under the Clean Water Act. The offshore explosion released millions of barrels of oil into the Gulf, the largest spill in U.S. history.
The rules began to take effect in April, but the court said by a 5-4 vote Monday that the Environmental Protection Agency failed to take their cost into account when the agency first decided to regulate the toxic emissions from coal- and oil-fired plants.
Opposition to hydraulic fracturing has stymied development of the U.K.’s shale industry since a drilling moratorium was lifted in 2012. The U.K. government has promoted fracking by cutting taxes and relaxing planning rules to try to lower reliance on imported gas.
Based on analysts’ target prices, Repsol is expected to underperform the 18-member Bloomberg Intelligence Global Integrated Oil Index. That’s despite it being only one of five companies where profits are predicted to rise next year.
The meeting comes six months before world leaders gather at a United Nations-sponsored conference in Paris in December to finalize a climate treaty. Obama has argued that a gradually warming planet could worsen social tensions and political instability worldwide, in addition to harming the U.S.
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