In this July 6, 2013, photo, smoke rises from railway cars from now defunct Montreal, Maine & Atlantic Railways company that were carrying crude oil after derailing in downtown Lac Megantic, Quebec, Canada. (Paul Chiasson/The Canadian Press via AP)

Final approval of oil train settlement is delayed

PORTLAND, Maine — Final confirmation of a $338 million settlement for victims of an oil train derailment that claimed 47 lives in Quebec was delayed Thursday to give the lone party that opposes the plan additional time to reach an agreement on terms to join the settlement or withdraw its objection.
Calif. Gov. Jerry Brown. (AP Photo/Rich Pedroncelli)

California regulators to restore emissions-cutting fuel rule

California regulators are poised to restore a first-in-the-nation climate change program that requires a 10 percent cut in carbon emissions on transportation fuels sold in the state by 2020, despite oil industry objections that it could drive up gasoline prices.
Alaska Gov. Bill Walker (AP Photo/Mark Thiessen, File)

Gas pipeline is focus of Alaska special session

Alaska Gov. Bill Walker on Thursday called lawmakers into special session to kick-start stalled consideration of the Alaska natural gas pipeline project

President Barack Obama and Chinese President Xi Jinping, right, walk from the West Wing of the White House in Washington, Thursday, Sept. 24, 2015, for a private dinner at the Blair House, across the street from the White House. Xi arrived in Washington late Thursday for a State Visit. (AP Photo/Manuel Balce Ceneta)

China plans to launch national cap-and-trade system

Beijing plans to put a cap-and-trade system in place in 2017 as part of measures aimed to address climate change in cooperation with the U.S. and others.
EIA: Eagle Ford Shale production to dip in July

EIA: Oil firms’ deficit between spending and cash balloons to $50 billion

The plunge in crude prices cost oil companies some $35 billion in operating cash flow in the second quarter, the U.S. Energy Information Administration said Thursday.
Floor hands David Vannapha, left, Mario Ramos, center, and Jose Garza make a pipe connection on the drill string on the Orion Perseus drilling rig near Encinal in Webb County, Texas, U.S., on Monday, March 26, 2012. The Perseus is drilling for oil and gas in the Eagle Ford Shale, a sedimentary rock formation underlying an area of South and East Texas. Photographer: Eddie Seal/Bloomberg *** Local Caption *** David Vannapha; Mario Ramos; Jose Garza

Low prices keep eating into oil and gas investment

Drilling for oil requires a large amount of capital, meaning that investment today can translate into less production in the future, although more efficient drilling can lessen the impact.
(Daniel Acker/Bloomberg)

TransCanada says its cutting one-fifth of its senior management positions

The reduction in management positions, partly achieved by not replacing retiring workers, follows 185 job cuts announced by the company in June. The company said more reductions are ahead.
Caterpillar is developing natural gas-fueled versions of heavy equipment, including this giant, a Model 795 off-highway mining truck.

Caterpillar says it could cut 10,000 jobs to reduce costs

The Peoria, Illinois, company says most of the cuts will occur in 2015 in its salaried and management workforce.
(Carla Gottgens/Bloomberg)

Fossil fuel divestment seen costing returns for investors

Investors who boycott the shares of oil, gas and coal companies out of concern for the climate are sacrificing higher returns and lower risks, a study funded by the fossil-fuel industry showed.
(Kristian Helgesen/Bloomberg)

Norway cuts rates to record low to save economy from oil slump

Governor Oeystein Olsen is easing to unprecedented levels, following colleagues in Stockholm and Frankfurt, as the collapse in oil prices is taking its toll on the $500 billion economy.