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The planned purchase of sweet crude between June 1 and July 31 is required by federal laws forcing the Department of Energy to buy back petroleum products within one year, using the proceeds from a test sale.
The facility, which would be able to process as much as 15 million metric tons of liquefied natural gas annually, is the first proposed greenfield export project — one that wouldn’t be built on the footprint of existing LNG infrastructure — to make it this far.
The federal government gave an Oregon project a coveted permit to broadly export liquefied natural gas on Thursday, even as the Obama administration faces criticism for moving too slowly on the proposals.
Last month, the Department of Energy announced its plans to build a gasoline storage reserve in the Northeast. Widespread shortages caused by massive super storm Sandy sparked plans to mitigate future risks in affected Northeastern states. The gasoline reserve will hold nearly one million gallons of gasoline, providing power to first responders and generators. The […]
Key senators are pressuring the Energy Department to abandon its 2012 plan for processing applications to broadly export natural gas, insisting that the two-year-old approach does not do enough to prioritize projects that have secured financing, signed up customers and are close to winning other needed permits.
The controversy surrounding exports of U.S. natural gas hasn’t disappeared, but recent congressional votes suggest the tide may be turning on the issue, as the Energy Department authorizes more companies to sell the fossil fuel overseas.
The Energy Department on Wednesday announced it is giving seven institutions — including two Texas universities — nearly $5 million in grants to continue research on how to unlock methane gas trapped in ice-like crystals under the sea floor and the Arctic permafrost.
The United States cut its energy-related carbon dioxide pollution by 3.8 percent last year, the second biggest drop since 1990, the Department of Energy said Monday.
The Obama administration licensed a third company to broadly sell U.S. natural gas overseas on Wednesday, renewing fears that widespread exports of America’s bounty could spike domestic prices for the fossil fuel.
The Obama administration on Friday gave Freeport LNG approval to broadly export domestically harvested natural gas, marking only the second time a U.S. company has won such a license. The export license ensures that the Texas-based project will be able to liquefy natural gas produced by BP to Japan, Taiwan and other countries that do not have free-trade agreements with the United States.