Tag: Energy Department

Energy Department to spend $200 million on new supercomputer

The goal is to build a supercomputer that will help the U.S. compete internationally with other next-generation computing efforts and ensure the United States’ economic and national security, agency officials said.  More »

Energy secretary calls Iran nuke deal a “forever agreement”

Under the agreement, Energy Secretary Ernest Moniz said all plutonium created as a byproduct of Iran’s nuclear power production would be sent out of the country so it couldn’t be used to make weapons.  More »

Senate approves long-delayed bill to boost energy efficiency

The Senate bill was co-sponsored by Democrat Jeanne Shaheen of New Hampshire and Republican Rob Portman of Ohio. A similar bill was defeated last year after it became enmeshed in a partisan fight over the Keystone XL oil pipeline.  More »

Energy Department study: Shale won’t last, Arctic drilling needed now

In order for the U.S. to keep domestic production high and imports low, oil companies should start probing the Artic now because it takes 10 to 30 years of preparation and drilling to bring oil to market, according to a draft of the study’s executive summary obtained by the Associated Press.  More »

Natural gas inventory build sends prices plummeting

The Energy Department reported that natural gas in U.S. storage rose by 12 billion cubic feet to 1.48 trillion cubic feet.  More »

Obama orders 40 percent cut in government’s greenhouse gases

Obama’s executive order also directs the government to ramp up use of renewable energy sources to 30 percent of the federal government’s consumption.  More »

Feds to buy 5 million barrels of oil for emergency stockpile

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.  More »

US running out of room to store oil; price collapse next?

If record production in the U.S. keeps up, storage tanks could approach their operational limits, known in the industry as “tank tops,” by mid-April and send the price of crude — and probably gasoline, too — plummeting.  More »

Energy Department suspends FutureGen project

The plan was to refit a coal-fired power plant in Illinois and store carbon dioxide from the coal underground.  More »

Government sells scandalized Teapot Dome oilfield for $45 million

Most of the easily accessible oil in the oilfield 35 miles north of Casper already has been tapped out since drilling resumed in the mid-1970s.  More »

LNG exports gain momentum on Capitol Hill

The moves come right as low oil prices weaken the economic case for U.S. liquefied natural gas.  More »

Energy Secretary: Strategic Petroleum Reserve needs ‘modernization’

The Strategic Petroleum Reserve needs some changes, in light of shifts in the location and type of domestic oil production, Energy Secretary Ernest Moniz said Wednesday.  More »

Cheniere LNG project marks milestone as Feds give OK

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.  More »

Study: All-electric cars may not be so green

The key is where the source of the electricity all-electric cars.  More »

U.S. getting rid of oil addiction as price plummets in glut

The catalyst for the latest sell-off in oil was an OPEC report that projected demand for its crude would sink next year to levels not seen in more than a decade.  More »
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