Fuel Fix

(AP file photo/Mike Derer)

Gas prices edge closer to the $3 mark

The average price of gasoline dropped to $3.03, down 4 cents from the week before, according to AAA gas gauge. Texas saw prices also drop 4 cents to settle at $3.05, and the national average is down 5 cents to $3.21.  More »
The Ensco 8501 semi-submersible rig in the Gulf of Mexico (Jennifer A. Dlouhy/Houston Chronicle)

Cyprus’ FM briefs US officials on gas development

The foreign minister of Cyprus is discussing with U.S. officials her country’s promising economic prospects from natural gas exploration.  More »
(AP file photo/Paul Sakuma)

Shell shuts down Nigeria field over oil spill

Royal Dutch Shell PLC says it has shut down a deep-water oil field that was leaking oil into the sea off Nigeria’s oil-rich southern delta.  More »

(Photo: Fotolia)

Enbridge wins contracts to proceed with Gulf coast pipeline

Enbridge Inc., Canada’s largest oil- pipeline company, has won enough support from shippers to proceed with a $1.9 billion project to bring more Canadian and North Dakota crude to U.S. refineries.  More »
(Photo: David Paul Ohmer/Flickr)

FuelFix Newslinks |12.21.11|

Gas prices are edging closer to the $3 mark. How much dam energy can get? And Frankincense — the Christmas incense — might be doomed.  More »
Royalties from oil production on state lands is pushing Texas' Permanent University Fund toward a record $1 billion in annual revenue. (AP Photo/Hasan Jamali)

Oil rises after US crude supply drop

Oil rose above $98 a barrel today in Asia after a report showed U.S. crude supplies fell more than expected, a sign demand may be improving.  More »
A Texas power plant operates natural gas and coal-fired units. (AP Photo)

EPA finalizes air-toxics rule for power plants, likely will unveil it today

The Environmental Protection Agency is expected Wednesday to announce its first-ever standards for mercury and other toxic emissions from power plants, capping months of debate over a rule that Republicans and utilities have decried and environmental and health groups have hailed.  More »
(Photo: AEI Services)

Luminant hopes plant restart eventually possible

Luminant reiterated its hopes that it later might restart two power plants the company plans to idle to comply with a new regulation.  More »
A worker abseils down the 180-foot drilling derrick on the Jack Ryan drillship offshore Angola. (Photo: BP)

BP, Statoil win Angolan blocks that may be similar to Brazil

BP Plc and Statoil ASA led companies in winning the right to explore for oil and gas in pre-salt blocks in Angola that may be similar to fields found in Brazil.  More »
A drilling rig aims for oil in the Bakken Shale near Watford City, N.D. (AP Photo/James MacPherson)

ND oil unit approved, could produce 15M barrels

North Dakota regulators have approved a huge new oil production unit north of Killdeer.  More »
A drilling rig in Pavillion, Wyo., used to drill a deep water well for testing. (Photo: EPA).

Encana fights EPA’s water contamination allegations

Encana Corp. today ratcheted up its attack on Environmental Protection Agency allegations that the company’s hydraulically fractured natural gas wells are to blame for contaminating groundwater in Wyoming.  More »
(Image: SunPower)

BP exits solar business after 40 years on profit outlook

BP Plc, Europe’s second-largest oil company, will shut its solar power unit and quit the business entirely after 40 years because it’s become unprofitable.  More »
Michael Reed fills his gas tank at a station in Charlotte, N.C. (AP Photo/Chuck Burton)

Average American household spent $4,155 on gas in 2011

When the gifts from Grandma are unloaded and holiday travel is over, the typical American household will have spent $4,155 filling up this year, a record. That is 8.4 percent of what the median family takes in, the highest share since 1981.  More »
Shane Lee, former natural gas trader at Amaranth LLC, is sworn in before the Senate Homeland Security and Government Affairs Committee on Capitol Hill in Washington, D.C. (Photographer: Andrew Councill/Bloomberg News)

Amaranth’s $77.1 million manipulation settlement approved

A federal judge approved a $77.1 million settlement by Amaranth Advisors LLC, the hedge fund that collapsed in 2006 after losing $6.6 billion on natural gas trades, of a lawsuit brought by traders who accused it of market manipulation.  More »
The Deepwater Nautilus was used to drill Shell's Appomattox discovery in the Gulf of Mexico. (Houston Chronicle file photo)

Shell drilling could be on hold for weeks after fluid spill

Shell Oil Co. says it could take weeks to resume drilling at its Appomattox discovery in the Gulf of Mexico, after a leak of roughly 13,400 gallons of drilling fluids forced it to shut down work at the site.  More »