Fuel Fix

(AP Photo/Gerald Herbert, File)

BP to settle Deepwater Horizon claims for $18.7 billion

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Categories: featured, Gulf oil spill
P has agreed to pay a record $18.7 billion to settle the federal and state claims against it for its role in the Deepwater Horizon oil spill, sidestepping years of litigation with a promise to pour funds for nearly two decades into efforts to repair vast environmental damage in the Gulf region.

BP to settle Deepwater Horizon claims for $18.7 billion

on
Categories: featured, Gulf oil spill
(AP Photo/Gerald Herbert, File)
P has agreed to pay a record $18.7 billion to settle the federal and state claims against it for its role in the Deepwater Horizon oil spill, sidestepping years of litigation with a promise to pour funds for nearly two decades into efforts to repair vast environmental damage in the Gulf region.
Jeff Allyn, a derrick hand with Raven Drilling, pauses with a cup of coffee while drilling for oil in the Bakken shale formation on July 23, 2013 outside Watford City, North Dakota. (Andrew Burton/Getty Images)

Shale drillers’ safety net is vanishing

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SandRidge, the Oklahoma City-based producer, had about 90 percent of its oil and natural gas liquids output hedged in early 2015, according to a regulatory filing. Next year, the hedges cover less than a third.
Categories: featured, Shale

(AP Photo/Oded Balilty, File)

House votes to block Obama’s climate plan amid veto threat

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Lawmakers voted 247-180 to support a bill allowing states to opt out of the Obama administration’s plan to limit carbon pollution from coal-fired power plants if the state’s governor determines it would cause significant rate hikes for electricity or harm reliability of service.
(AP Photo/Hasan Jamali, File)

Iran will struggle to ramp up oil production after sanctions deal, Wood Mac says

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Iran and world powers are working towards an agreement that would ease sanctions on the OPEC member’s oil sales in return for curtailing its nuclear activity.

Tom Haag checks the progress of this years corn crop which he expects to do well if we avoid September freezes, August 15, 2013, in Eden Valley, Minn. Haag, president of the Minnesota Corn Growers Association travelled to China with Governor Dayton last year and expects Chinese imports of U.S. grain to increase as more Chinese gain a higher standard of living. (Glen Stubbe/Minneapolis Star Tribune/MCT)

EPA to hear testimony from hundreds on renewable fuels plan

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The 2007 renewable fuels law was intended to address global warming, reduce dependence on foreign oil and bolster the rural economy by requiring a steady increase in the overall amount of renewable fuels such as ethanol blended into gasoline over time.
Categories: Biofuels
A group of land owners and conservationist walk on a gasline right of way during a field day to see native plant restoration at Dobie Ranch in Live Oak County, where gas and oil lines have been given right of way, on Tuesday, Sept. 24, 2013. The "field day" several groups including the U.S. Department of Agriculture's Natural Resources Conservation Service, Texas A&M Agrilife Extension, Caesar Kleberg Wildlife Research Institute and South Texas Natives. (Bob Owen/San Antonio Express-News)

New safety rules for South Texas pipeline inspectors mandate “buddy system,” quicker gun licenses

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The policy changes follow complaints by Commission Chairman David Porter that the federal government had failed to protect pipeline rights-of-way from becoming pathways for illegal immigration and cartel activity.
Categories: Pipelines, Texas
(Photographer: Patrick Semansky/Bloomberg)

Petrochemical growth may keep Houston out of oil-related recession

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West Houston, with white-collar oil and gas jobs in the Energy Corridor, and the Galleria area will suffer more, while the more blue-collar East Houston workforce would be better off in the short term, the report contends.
A contractor with Michels Corp. carries pieces of wood used to prop up sections of pipeline as they are assembled during construction of the Flanagan South crude oil pipeline outside Goodfield, Illinois, U.S., on Tuesday, Oct. 8, 2013. The approximately 600-mile, 36-inch crude oil pipeline is being constructed by Enbridge Energy Co., Inc., a subsidiary of Enbridge Inc., CanadaÕs largest oil transporter, and will originate in Flanagan, Illinois and terminate in Cushing, Oklahoma. (Daniel Acker/Bloomberg)

New focus on dividends has Enbridge shareholders happy, creditors silent

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Stock traders have warmly embraced Enbridge’s new focus on dividends, but the company’s creditors have given it a colder reception.
Categories: Pipelines
Original byline: Jim Blecha/

BP economist: Oil industry should hunker down for “a couple of years” as prices recover

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The dramatic reduction in the U.S. rig count foreshadows a coming slowdown in U.S. oil output, a trend that’s expected to happen at the same that time that global oil consumption has started to swell.
Categories: Crude oil, featured, Markets