Department Of Interior News
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A federal sale of oil-drilling rights in the Gulf of Mexico drew more than $1.2 billion in high bids today, making it one of the top 10 sales of its kind in the past four decades.
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President Barack Obama is preparing to tell all federal agencies for the first time that they should consider the impact on global warming before approving major projects, from pipelines to highways.
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Oil and gas production in federal areas is lagging behind the boom on private lands, a report by non-partisan congressional researchers found, bolstering complaints made by Republicans and energy-industry lobbyists.
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Royalties paid to the U.S. by oil and gas companies for offshore production are forecast to increase 68 percent under President Barack Obama ’s 2012 budget.
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The following are the day's top business stories:
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A U.S. investigation of possible insider-trading by Goldman Sachs Group Inc. employees expanded to include a managing director whose name emerged at the trial of convicted hedge fund manager Raj Rajaratnam, a person with knowledge of the probe said.
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Murray Energy Corp., the largest closely held coal company in the U.S., is firing 163 workers at three subsidiaries, citing a “War on Coal” by the Obama administration.
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The new home of felon and ex-Tyco International Ltd. Chief Executive Officer Dennis Kozlowski, while not furnished with the $6,000 shower curtain and paintings by Monet and Renoir that decorated his previous Manhattan abode, offers a stunning view of Central Park and the New York skyline.
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The Obama administration is seeking input from the oil and gas industry to explore drilling off the coast of south-central Alaska, according to a statement from the U.S. Department of Interior.
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Transocean Ltd.’s agreement to pay $1.4 billion in penalties for its role in the worst U.S. maritime oil spill frees the world’s largest offshore driller to attend to rising competition in deep-water rig markets.
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