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Energy Department

(Shane Bevel/Bloomberg News)

Crude oil inventories fall again, but production jumps

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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

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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

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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.
Energy Secretary Ernest Moniz (AP Photo/Pablo Martinez Monsivais)

Energy secretary calls Iran nuke deal a “forever agreement”

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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.
(Bill Montgomery/Houston Chronicle)

Senate approves long-delayed bill to boost energy efficiency

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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.
The Polar Pioneer, a drilling rig contracted by Shell for Chukchi Sea exploration in 2015, is transported across the Pacific on the heavy-lift vessel Blue Marlin. (Photo: Vincenzo Floramo / Greenpeace)

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

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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.
(Eddie Seal/Bloomberg)

Natural gas inventory build sends prices plummeting

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The Energy Department reported that natural gas in U.S. storage rose by 12 billion cubic feet to 1.48 trillion cubic feet.
(Andrew Harrer/Bloomberg)

Obama orders 40 percent cut in government’s greenhouse gases

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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.
The Strategic Petroleum Reserve  site in Freeport uses salt domes underground to store the oil. (Houston Chronicle file photo)

Feds to buy 5 million barrels of oil for emergency stockpile

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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.
Crude Oil Caps Biggest Weekly Increase In Two Years On Libya Unrest

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

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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.