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Energy Department

WASHINGTON, DC - OCTOBER 06:  Energy Secretary Ernest Moniz testifies before the Senate Energy and Natural Resources Committee about the potential modernization of the Strategic Petroleum Reserve and related energy security issues in the Dirksen Senate Office Building on Capitol Hill October 6, 2015 in Washington, DC. Created in the wake of the 1973 energy crisis, the reserve is supposed to make sure the U.S. economy will not be hurt by an embargo or sharp price spike and Moniz estimates that $2 billion will be needed for distribution work and other technical upgrades.  (Photo by Chip Somodevilla/Getty Images)

Moniz: Strategic Petroleum Reserve is too valuable to sell its stockpiles

Forty years after the U.S. created an emergency crude stockpile, it needs modernization to swiftly respond to oil supply disruptions, Energy Secretary Ernest Moniz told senators.
(Spencer Platt/Getty Images)

Oil prices jump after reports of tanking U.S. production

West Texas Intermediate for November delivery rose 86 cents, or 1.9 percent, to $47.12 a barrel at 9:48 a.m. on the New York Mercantile Exchange.
Sen. Lisa Murkowski, R-Alaska, and Assistant Energy Secretary Christopher Smith tour the Bayou Choctaw oil reserve site near Baton Rouge, La. The facility, part of the nation's Strategic Petroleum Reserve, holds about 73 million barrels of crude in underground salt caverns. (Photo: Energy Department)

Strategic Petroleum Reserve shouldn’t be used to fill federal coffers, Murkowski says

Congress should not use the nation’s emergency oil stockpile as an ATM, with sales of the crude funding unrelated legislative priorities, Sen. Lisa Murkowski said as she toured one of the Louisiana sites that makes up the United States’ Strategic Petroleum Reserve.
The shadows of  workers in the Permian Basin on February 5, 2015 in Mentone, Texas. (Photo by Spencer Platt/Getty Images)

How much oil does Texas really produce? The EIA now says it has a better way to count

The goal is to arrive at data that can better track how Texas’ production is responding to the volatile price swings on the crude oil markets, said Gary Long, a petroleum engineer at the EIA who works on production data.
(AP Photo/Matthew Brown, File)

Natural gas surpasses coal as biggest U.S. electricity source

Power companies have been installing more natural gas turbines at plants, with new regulations that restrict the emission of greenhouse gasses has added new pressure to make the switch.
A drilling rig under contract to Shell arrives in Port Angeles, Washington en route to Alaska's Chukchi Sea, where Shell hopes to drill this summer. (Daniella Beccaria/ via AP, File) MAGS OUT; NO SALES; SEATTLE TIMES OUT; TV OUT; MANDATORY CREDIT

Environmentalists say Arctic drilling report goes too easy on oil industry

Because oil industry representatives played the lead role shaping a sweeping report on Arctic drilling, critics say regulators should take its recommendations with a grain of salt.
Ernest Moniz Sec. of Energy United States during the IHS Energy CERAWeek Wednesday April 22, 2015 at the Hilton Americas-Houston. (Billy Smith II / Houston Chronicle)

Moniz says Strategic Petroleum Reserve could be tapped to control price shocks

Moniz said rising U.S. crude production gives the nation more flexibility in how it uses the reserve, created four decades ago in response to supply shortfalls caused by the Arab oil embargo. The four underground salt caverns can hold more than 700 million barrels of oil.
(Shane Bevel/Bloomberg News)

Crude oil inventories fall again, but production jumps

U.S. commercial stores of crude oil fell by another 2.8 million barrels to a total of 479.4 million barrels for the week ending May 22, according to data collected by the U.S. Energy Information Administration.
Energy Secretary Ernest Moniz (AP Photo/Pablo Martinez Monsivais)

Energy Department: The U.S. energy grid needs $15 billion in upgrades

Severe weather is the leading cause of power disruptions, costing the U.S. economy from $18 billion to $33 billion a year, and climate change will only make it worse, a White House review on energy infrastructure concludes.
(Photo by Justin Sullivan/Getty Images)

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.