U.S. Sen. Chuck Schumer is worried about the impact of the potential loss of Iranian oil on the global crude market. Reuters reports: The United States should do more to encourage Saudi Arabia to boost its oil production to make up for lost Iranian oil, Senator Charles Schumer said on Sunday, urging renewed diplomacy as…
Daily Archives: February 28, 2012
Environmental Experts Boost State Regulation of Fracking
The New York Times’ Joe Nocera has a column based on an interview with Fred Krupp, a key member of the Energy Department’s special subcommittee on hydraulic fracturing – key because Krupp’s also president of the Environmental Defense Fund. Nocera writes: “Unlike others in the environmental movement, [Krupp] and his colleagues at the Environmental Defense…
Energy Works in Michigan
For the state of Michigan, the oil and natural gas industry currently means: More than 162,000 jobs statewide – with an average salary of $62,408 for non-gas station oil and natural gas employees. $8.3 billion contributed to labor income. $16.8 billion contributed to the state’s economy. With sensible energy development and sound tax policies, here’s…
Egypt resumes gas deliveries to Israel
Supply was interrupted on February 5, following an attack on pipelines in Sinai.
BP delays Gulf spill trial for a week
BP has postponed the start of a civil trial to apportion blame for the Gulf of Mexico oil spill for a week, as the oil major attempts to reach a settlement deal with individuals and businesses affected by the disaster.
New Brazilian pre-salt oil discovery announced
Statoil with operator Repsol Sinopec and partner Petrobras has confirmed a high-impact discovery in the Pão de Açúcar prospect offshore Brazil.