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.
U.S. natural gas prices, pushed to a record high after hurricanes Katrina and Rita barreled through the Gulf of Mexico eight years ago, are now more vulnerable to winter freezes than tropical storms after production moved onshore with the growth of drilling in shale formations.
Federal Reserve Bank of Kansas City President Esther George said the economy will probably grow 2 percent this year, spurred by Fed stimulus that threatens to eventually push up long-term inflation expectations.
Colorado lawmakers’ approval of taxes and other measures to regulate marijuana sales is the latest in a series of moves by the Democratic-controlled legislature splitting cities from rural areas dominated by Republicans.
Republican lawmakers and officials from states such as Wyoming faulted the U.S. Interior Department’s plans to regulate hydraulic fracturing on federal land, even before the agency issues a revised version.