BP 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.
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.
Iowa Gov. Terry Branstad on Thursday delivered a blistering attack on the Obama administration’s plan to slash government mandates for renewable fuel, accusing the White House of caving to Big Oil and turning its back on rural America.
The Colorado Oil & Gas Association sued the cities of Fort Collins and Lafayette claiming their voter-enacted bans on the extraction of oil and natural gas are preempted by state laws regulating those resources.
A summit Thursday on the nation’s renewable fuels policy is set to draw a crush of farmers, politicians, engineers and oil industry lobbyists all eager to criticize an Obama administration plan to slash federal biofuels quotas.
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