Fuel Fix

House Natural Resources Committee chairman Rep. Doc Hastings, R-Wash, leads a committee hearing in Washington. (AP Photo/Kevin Wolf)

New subpoenas authorized in drilling ban probe

A congressional panel today voted to authorize subpoenas for Interior Department officials who could shed light on why a government report falsely implied a panel of engineers and oil industry experts backed a moratorium on deep-water drilling.  More »
A slide showing how ERCOT's spot price for power could increase based on that size of generation shortages. (Image: Potomac Economics)

Wholesale electricity price cap study raises questions on increase

Today the new price cap for wholesale energy will go into effect, increasing prices by 50 percent to $4,500 per megawatt-hour, as Texas electricity planners attempt to create more electricity supply by increasing its price during high demand periods.  More »

Sumitomo to pay Devon $1.4 billion for stakes in two fields

Sumitomo Corp., Japan’s third-largest trading house, agreed to buy a 30 percent stake in two Devon Energy Corp. shale oilfields in Texas for $340 million in cash.  More »
Growing concern about water use during hydraulic fracturing prompted the Railroad Commission to adopt new rules for water recycling.  Photo: Daniel Acker/Bloomberg

Drought may spur a drop in oil production

The drought affecting much of the nation is pitting energy producers, which use water for hydraulic fracturing, against farmers and homeowners.  More »
Marathon Oil's corporate headquarters in Houston.  (AP file photo/Pat Sullivan)

Marathon Oil credits Eagle Ford growth for solid 2Q profit

Marathon Oil announced $393 million in earnings for the second quarter, benefiting from strong production growth in the Eagle Ford shale, where it has focused its efforts in the year since it broke out its refining operations into a separate company.  More »
(Lisa Poole / AP2009)

Phillips 66 profits jump on better refining margins

Phillips 66, which spun off from ConocoPhillips in April, reported a 14 percent jump in second quarter profits.  More »
Plant Operators at the control room, pipes, towers and fractional facilities at Enterprise refinery in Mont Belvieu, Texas. For the Chronicle: Thomas B. Shea

Enterprise earnings leap 26 percent on higher crude volumes

Earnings for Houston-based pipeline business Enterprise Products Partners surged 26 percent in the second quarter of the year, as it pumped more hydrocarbons through its vast system, the company announced Wednesday.  More »
(Steve Hockstein/Bloomberg)

House poised to pass legislation to keep power flowing

In a rare moment of accord on energy and environmental policy, House Democrats and Republicans are expected to come together and pass legislation that would insulate power utilities from environmental fines when the federal government orders them to keep generating electricity.  More »
A crew works on a Marcellus Shale drilling rig to produce natural gas. (AP Photo/Keith Srakocic)

Critics’ latest fracking claim goes biblical

Fracking has been blamed for everything from illness to earthquakes to water contamination.  More »
Michael Reed fills his gas tank at a station in Charlotte, N.C. (AP Photo/Chuck Burton)

Gas prices should level in August after July wildness

Gasoline prices might have seemed a bit out of whack this month.  More »
Welding crews lay pipelines in Texas to move oil and gas extracted from the Eagle Ford Shale to market. (John Davenport/San Antonio Express-News)

Drop in energy prices lowers the boom in Texas oil patch

Falling oil prices halted a 30-month growth spurt in Texas’ oil and gas industry boom in June, a new industry report shows.  More »
(AP file photo)

Italian firm Eni announces gas find off Mozambique

Italian oil company Eni SpA said Wednesday it discovered more natural gas off the coast of Mozambique, expanding the yield of a major field off the southeast African nation that’s the company’s largest find.  More »