Chron Energy Items: 02.28.08

A few of the energy related stories in today’s Houston Chronicle or on
BP chief spells out oil giant’s strategy: BP has enough reserves to produce 4 million barrels a day of oil and natural gas through the next dozen years without new discoveries or gaining additional access to resources, the company’s CEO told analysts Wednesday.
Bumps on green road come into focus: The likely regulation of greenhouse gases in the U.S. will bring huge business opportunities, but cleaning the environment won’t be cheap or easy, speakers said Wednesday at a Houston conference.
Court sees Exxon Mobil’s side: Associated Press — Nearly 33,000 Alaskan victims of the Exxon Valdez disaster could see their court-ordered payments cut by more than half — to about $30,000 each — if the Supreme Court hands Exxon Mobil a partial victory in a long legal fight over punitive damages.
House votes for $18 billion in new oil company taxes: Associated Press — The House approved $18 billion in new taxes on the largest oil companies today as Democrats cited record oil prices and rising gasoline costs in a time of economic troubles.
Partners pool $2 billion for U.S. refinery investments: Bloomberg News — Petroplus Holdings AG, Europe’s biggest refiner by capacity, formed a partnership with Blackstone Group LP and private-equity firm First Reserve Corp. — which has a presence in Houston — to buy oil refineries in the U.S.
New pipeline helps lift CenterPoint profits: Bloomberg News — CenterPoint Energy Inc., the owner of Houston’s power-distribution network, said fourth-quarter profit rose 61 percent after a new pipeline went into service.
W&T Offshore sees improved fourth-quarter profit: Oil and gas producer W&T Offshore reported today its fourth quarter net income was $49.4 million, or 65 cents per diluted share, up from $38.1 million, or 50 cents per diluted share, in the year-ago period.