The Iran-driven run in oil prices to the highest since 2008 masks the Middle East producer’s diminishing importance to global oil supplies as record spending on drilling unearths reserves from Argentina to Angola. More »
The American Petroleum Institute filed a legal challenge to a U.S. cellulosic biofuel mandate on Monday, alleging a “complete commercial supply” doesn’t exist for fuel makers to meet the program’s minimum quota for 2012. More »
Nearly two-thirds of Americans disapprove of the way President Barack Obama has handled rising gasoline prices, according to a new poll. The White House fought back with a progress report that seeks to defend Obama’s record on energy. More »
While there is not even ink yet to dry on a proposed agreement between the Plaintiff Steering Committee and BP to settle the Deepwater Horizon litigation, both sides are trying to put out misunderstandings in the week and a half since the settlement was announced. More »
The proposed settlement between BP and business owners and others harmed by the Deepwater Horizon disaster is a big step in repairing the economic hardship unleashed by the oil spill, but it overlooks those most affected by the explosion that killed 11 men. More »
While New York regulators wrap up a four-year environmental impact study of shale-gas drilling that has driven most energy companies to other states, a Norwegian company hopes to be first in line if New York starts issuing permits. More »
Chesapeake Energy Corp. (CHK) Chief Executive Officer Aubrey McClendon is cultivating investors from Seoul to New Delhi eager to own natural gas that’s 85 percent cheaper than Middle East supplies because of a glut in the U.S. More »
BP Plc (BP/)’s $7.8 billion settlement with businesses and individuals over the Deepwater Horizon oil rig disaster won the support of a Houston-based lawyer representing almost 12,000 plaintiffs, the Sunday Telegraph reported.
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