Oil

Impact Assistance Funds will Help Gulf States, Alaska and California to Restore and Protect Coastal Areas

April 20, 2009 -- WASHINGTON, D.C. – Six U.S. coastal states will share nearly half a billion dollars from offshore oil and gas revenues in fiscal years 2009 and 2010 to help restore and protect coastal wetlands, wildlife habitat and marine areas, Secretary of the Interior Ken Salazar said today. The funds are available for approved uses by Alabama, Alaska, California, Louisiana, Mississippi, Texas and their coastal local governments.    » read more »

Bush Plan Neglected Impacts on Marine Mammals, Environment

April 17, 2009 -- Washington, D.C. A federal appeals court threw out plans to expand off shore drilling in Alaska today. The court sided with environmentalists, ruling that a Bush administration plan opening drilling in Alaska's Chukchi and Beaufort Seas failed to consider impacts on marine life and the environment. The Chukchi and Beaufort Seas are home to roughly one-tenth of the world's polar bears, as well as walruses, seals and whales.

Statement of Sierra Club Lands Director Athan Manuel:    » read more »

April 17, 2009, Juneau, Alaska - Alaska Governor Sarah Palin today objected to a court ruling that undermines the federal leasing program for oil and gas reserves in the Beaufort, Bering and Chukchi seas.

The finding by a three-judge panel in Washington, D.C., in a lawsuit brought by environmentalists against the Interior Department during the Bush administration, comes just three days after Alaskans had an unprecedented opportunity to voice their opinions on off-shore drilling in a hearing before Interior Secretary Ken Salazar.    » read more »

April 16, 2009 -- WASHINGTON—Texas Oil and Gathering Inc., its owner John Kessel and its operations manager Edgar Pettijohn pleaded guilty today in U.S. District Court in Houston to criminal violations related to the disposal of refinery wastes at an underground injection well in violation of the Safe Drinking Water Act, the Justice Department announced.    » read more »

April 15, 2009 -- San Francisco, CA - Hundreds of California residents, fishermen, scientists, environmentalists and youth are expected to speak out against proposed offshore drilling plans tomorrow at a public hearing held by Secretary of the Interior Ken Salazar in San Francisco. This is the last of four hearings and the only one held on the West Coast.    » read more »

April 15, 2009 -- Yesterday, EIA released the April 2009 Short-Term Energy Outlook (Outlook), that includes a detailed look at the forecast for transportation fuels during the upcoming summer. This summer driving season, defined as the period between April 1 and September 30, is expected to be very different from last year. Regular-grade motor gasoline retail prices are projected to average $2.23 per gallon this summer, down from $3.81 per gallon last summer.    » read more »

Pittsburgh (Apr. 9) – The United Steelworkers (USW) announced it has challenged the pending federal permit in the controversial $5.4 billion TransCanada Keystone Pipeline that’s using under-standard thin-wall pipe for transport of crude oil from Alberta, Canada to Houston, Texas.

USW International Vice President Tom Conway transmitted a formal complaint to the U.S. Department of Transportation (DOT) on Apr. 6, urging the special permit requested by TransCanada be denied. He said the 2,000 mile pipeline is planned using a 36-inch thin-wall pipe at higher maximum operation pressure than is safely permitted under existing regulations. Read the entire Conway letter here.    » read more »

Governor's radio address discusses importance of diversifying Michigan's economy and attracting more high-tech jobs

April 10, 2009 -- LANSING - In her weekly radio address, Michigan Governor Jennifer M. Granholm today said that Michigan will help reduce our nation's dependence on foreign oil by becoming the advanced-battery capital of the world and the home of a new generation of electric vehicles. This week, the governor signed legislation for additional refundable tax credits, bringing the total to $555 million, that will expand opportunities for companies to develop and manufacture advanced batteries in Michigan.    » read more »

All Eyes on OPEC

Recently, EIA and other oil market forecasters have been paying close attention to how the Organization of the Petroleum Exporting Countries (OPEC) is adjusting to lower global oil demand and weaker oil prices brought on by the global economic recession. Crude oil prices are now almost $100 per barrel off their peak level last year, and most forecasters, including EIA, are projecting 2009 global oil demand to be over 1 million barrels per day (bbl/d) lower than in 2008.    » read more »

Oil Spills are a Real, Costly Risk We Face in Light of the Recently Lifted Moratorium

WASHINGTON, D.C. (March 24, 2009) – Twenty years after the massive Exxon Valdez oil disaster in Alaska, oil spills still occur and the risk of them happening up and down the East and West Coast has increased after the more than three-decade moratorium on offshore drilling was lifted in the waning months of the Bush Administration.    » read more »

March 19, 2009 -- WASHINGTON, DC – Secretary of the Interior Ken Salazar today addressed the American Petroleum Institute’s board of directors. Below is the full text of his remarks as prepared:

Thank you, Larry, for that introduction. It is a pleasure to be with you today.

I also want to thank Jack Gerard, for helping bring this event together.

I am here today because you are important partners in America’s energy future. You and the men and women who work in the oil and gas industry help fuel our cars, heat our homes, and power our businesses. Oil and natural gas are, and will remain for many years to come, a cornerstone of our nation’s energy base.    » read more »

March 18, 2009 -- The production of non-crude liquids has traditionally been under-appreciated and sometimes even ignored, much like the treatment accorded to a utility infielder who sits on the bench as the superstar who plays third base and bats cleanup receives all of the attention. However, when that third baseman suffers a season-ending injury, the forgotten utility infielder immediately comes to the forefront. With crude oil (the superstar of the liquid fuels market) ailing, non-crude oil liquids have emerged into the limelight as an important component of world oil supply growth.    » read more »

March 17, 2009 -- U.S. House of Representatives, Washington, D.C. -- Chairman Gordon, Ranking Member Hall, and Members of the Committee, thank you for the opportunity to appear before you today to talk about new directions for energy research and development at the Department of Energy.

Today, we import roughly 60 percent of our oil, draining resources from our economy and leaving it vulnerable to supply disruptions. Much of that oil is controlled by regimes that do not share our values, weakening our security. Additionally, if we continue our current rates of greenhouse gas emissions, the consequences for our climate could be disastrous.    » read more »

March 16, 2009 -- DENVER, CO – The Department of the Interior will hold more than 40 major lease sales for oil and natural gas development on public lands this year, which are predicted to generate hundreds of millions of dollars in revenue for American taxpayers as well as billions of barrels of oil and trillions of cubic feet of natural gas to help meet the nation’s energy needs, Secretary of the Interior Ken Salazar said today.

Salazar is also establishing the development of renewable and alternative energy sources on U.S. public lands as a Departmental priority and as a component of a comprehensive national energy strategy that will help the U.S. reduce its dependence on foreign oil.    » read more »

March 16, 2009 -- BEIJING -- ExxonMobil Chemical Company announced today that it has made the final decision to build a technology center in Shanghai, China to provide product applications support for its growing business in the Chinese and Asian markets.

“Over the next 10 years, we expect roughly 60 percent of the world’s petrochemical growth to occur in Asia, and we are rapidly expanding our manufacturing footprint through major capacity additions in Fujian, China and Singapore," said Steve Pryor, president, ExxonMobil Chemical Company. "The decision to build a technology center in Shanghai reinforces our long-term commitment to China and the region. The new investment will support our growing sales of premium products by providing innovative solutions to customer needs.”    » read more »