Net oil imports to the U.S. could fall to zero by 2037 because of robust production in areas including North Dakota’s Bakken field and Texas’s Eagle Ford formation, according to a government projection released today.
Occidental Petroleum Corp., seeking to raise as much as $8 billion by selling a stake in its Middle East business, said a political dispute in the region is complicating plans to sell to a single investor group.
Occidental Petroleum Corp., the oil producer planning to spin off its California business by early next year, fell the most in two months after a city in Los Angeles County imposed a moratorium on new drilling.
The WilderHill New Energy Global Innovation Index, which tracks 94 clean-energy stocks, has gained 4.6 percent since the start of the year after a worldwide slump in the solar industry pulled it down in 2012.
Butanol, the gasoline substitute promoted by billionaire Richard Branson, is headed for its debut at U.S. pumps as soon as next year in a challenge to ethanol’s domination of the $26 billion renewable fuels market.