Spot gasoline in the U.S. Pacific Northwest dropped by the most against futures since February as tankers carried oil products to the region and a Royal Dutch Shell Plc refinery recovered from a power failure.
Spot gasoline in San Francisco gained against futures as Tesoro Corp.’s Golden Eagle refinery returned to normal operations after a power failure and Valero Energy Corp.’s Benicia plant restored electricity to its products rack.
Alaska’s government proposed investing its own cash in an assessment of oil reserves in the U.S. Arctic National Wildlife Refuge, seeking to prod the federal government to consider drilling in the protected area.
During President Barack Obama’s May 16 news conference, reporter Jeff Mason asked as part of his question: “And, more broadly, how do you feel about comparisons by some of your critics of this week’s scandals to those that happened under the Nixon administration?” The president responded, “I’ll let you guys engage in those comparisons, and you can go ahead and read the history, I think, and draw your own conclusions.”
"Bear with me,” Al Gore said to a rapt crowd of about 200 last Monday night at the fourth annual U.S.-India Energy Partnership Summit in Washington. He was asking the audience’s indulgence as he offered a scientific analogy to describe his investment philosophy.
Oil and gas industry representatives offered qualified support for a U.S. proposal to govern hydraulic fracturing on public lands that establishes federal oversight while deferring to state standards in some cases.
This week’s decision by the Arctic Council, led by the eight nations with Arctic territory, to accept China, India, Japan and three other countries as new observers points to the region’s growing importance. It’s also a sharp reminder of the need for the U.S., the council’s biggest player, to do more to prevent a destabilizing Great Game from unfolding at the top of the world.
U.S. Commerce Secretary nominee Penny Pritzker received $54 million last year from an offshore trust in the Bahamas, according to a disclosure report that describes an empire of casinos, hotels, energy companies and family trusts that may be worth more than $2 billion.