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WASHINGTON — A last-minute deal in Colorado is aimed at averting a ballot showdown in November over the future of hydraulic fracturing and drilling regulations in the state that threatened to strand oil industry investments and divided Democrats.
The Obama administration has cleared the way for two energy companies to sell an ultra-light variety of crude overseas after minimally processing it, a decision that tests the limits of a long-standing ban on exporting U.S. crude.
TransCanada Corp. officials said Thursday they are undaunted by a Nebraska court ruling that analysts widely believe will mean more delays for the Keystone XL pipeline.
The Obama administration on Tuesday formally told refiners to blend 16.55 billion gallons of renewable fuels into the nation’s gasoline supply this year, while paring some targets that the oil industry had criticized as too ambitious.
When President Barack Obama unveils his broad plan for combating climate change on Tuesday, he is expected to tout new rules to clamp down on greenhouse gas emissions from existing power plants.
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.
You wouldn’t know it from the oil industry’s angry reaction, but the Obama administration’s latest plan to tighten standards for drilling on public lands gives more ground to the private sector at the expense of environmentalists who pushed for tougher protections. Analysts said that’s a fresh sign that the Obama administration supports shale gas development and the payoff that comes from increased domestic energy production.
Manufacturers terrified that rising natural gas prices threaten their bottom line are stepping up pressure on the Obama administration to limit exports of the fossil fuel in the wake of a study that said selling more overseas would broadly benefit the United States.
The Obama administration’s decision Wednesday to take the rarely used step of barring BP from entering new federal government contracts for its role in the 2010 Gulf oil spill potentially costs the company millions while threatening the British oil giant’s stance as a major offshore energy producer and one of the military’s biggest jet fuel suppliers.
U.S. agencies’ request for more funding to hire people to help review offshore-drilling permits came front-and-center in Congress on Thursday as lawmakers, federal officials and witness continued debating the rate of approvals in the Gulf of Mexico.