Representatives of the oil industry’s biggest trade group, the American Petroleum Institute, were scheduled to meet with White House officials Friday to argue that ethanol quotas should be kept below the current 10 percent threshold acceptable for use in all cars and trucks.
The Interior Department announced it was canceling government auctions of drilling rights in the Chukchi and Beaufort seas, previously scheduled for 2016 and 2017 respectively. At the same time, it formally rejected bids by Statoil and Shell for more time to search for crude under their existing Arctic leases.
In an “expedited schedule” filed with a federal district court, the SEC said it would propose a draft rule by the end of the year and adopt a final set of disclosure mandates in June 2016. The move came after a human rights group challenged the agency’s long delays writing the rule, after an oil industry lawsuit invalidated the SEC’s first disclosure mandates.
House Majority Leader Kevin McCarthy, R-California, is set to tell a Houston audience that the chamber will vote this month on a measure lifting the oil export ban, but the White House doesn’t back the bill.
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