This was the largest week-over-week decrease since April and brings the number of active oil rigs to 614. That’s below the previous low for 2015 set in May, according to the count by oil service firm Baker Hughes.
Rep. Dave Camp’s plan to overhaul the nation’s tax code would deal major blows to independent refiners and the nation’s biggest oil and gas companies, blocking them from taking some long-cherished deductions and forcing them to use an accounting method that would hike their tax bills when crude prices climb. But independent oil and gas producers as well as midstream pipeline companies dodged big hits in Camp’s long-awaited proposal.
Offshore wind turbines could help prevent destruction caused by hurricanes by draining the storms of their deadly winds, according to a new scientific study that highlights a previously unknown benefit of the technology.
The government’s long delay in drafting mandates for stronger tankers to haul crude across the nation’s train tracks is paralyzing companies that want to invest in safer cars, a Democratic lawmaker charged Wednesday.
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