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More efficient cars means less gasoline use in U.S. soon

Tue May 23 19:27:32 +0000 2017

U.S. gasoline consumption will fall over the next three decades, despite record travel, as fuel efficiency improves in American cars. Americans are driving more vehicles, the U.S. Energy Department said in a recent report, but improvements in fuel economy will more than offset the increase in miles. U.S. light-duty vehicles — cars, trucks, SUVs and ...
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Market Currents: Limbering up for OPEC

Tue May 23 16:01:16 +0000 2017

Last week we discussed how some OPEC producers are exhibiting compliance via lower exports, while others are not. Our export data affirms what others are saying about Iraq: that OPEC’s second largest producer has not been playing ball. Exports out of the south of the country continue to hold up, above 3 million barrels per ...
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Gov. Abbott signs bill reauthorizing the Railroad Commission

Tue May 23 15:00:12 +0000 2017

The Railroad Commission of Texas, the state’s oil and gas regulator, has been reauthorized to operate for another 12 years, after a years long battle with legislators over how to reform the agency. On Monday, Gov. Greg Abbott signed House Bill 1818, part of a state initiative to review and reauthorize agencies every 12 years. ...
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Trump proposes slashing Gulf royalty payments to Texas, other states

Tue May 23 14:50:56 +0000 2017

President Donald Trump wants the federal government to stop sharing oil and gas royalties from the Gulf of Mexico with Texas and other states along the Gulf Coast. In his budget proposal for 2018, the White House proposes eliminating a decade old program that was set to deliver up to $275 million to Texas, Louisiana, Alabama ...
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EOG Resources gets $400 million from private equity group

Tue May 23 11:30:57 +0000 2017

EOG Resources will get a $400 million cash infusion from private equity group Carlyle to develop oil and gas assets in Oklahoma over the next four years. The Houston oil producer’s joint venture with one of Carlyle’s energy investment arms comes as private equity firms pour billions into a resurgent U.S. oil industry, looking to ...
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Iraq backs output cuts into 2018, putting OPEC near agreement

Tue May 23 10:53:48 +0000 2017

OPEC and its allies were poised to continue their production cuts for another nine months after Iraq backed an extension, removing one of the last remaining obstacles to an agreement. The proposal is the latest attempt by oil producers from Saudi Arabia to Russia to prop up prices and revive their economies. The talks are ...
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Rig contractor to pay up to $100M for big data tech firm

Mon May 22 21:19:55 +0000 2017

Helmerich & Payne, the largest U.S. rig contractor, is set to buy a small Dallas firm touting technology that can guide drill bits to oil-soaked rock with cognitive computing. The Oklahoma drilling contractor will pay $75 million to purchase Motive Drilling Technologies, but that price tag could include additional payouts of up to $25 million ...
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Two small spills from Dakota Access pipeline reported

Mon May 22 20:07:57 +0000 2017

BISMARCK, N.D. (AP) — The Dakota Access pipeline system leaked more than 100 gallons of oil in North Dakota in two separate incidents in March — the second and third known leaks discovered as crews prepared the disputed $3.8 billion pipeline for operation. Two barrels, or 84 gallons (320 liters), spilled due to a leaky ...
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Crude rises on reported OPEC agreement to extend output cuts into 2018

Mon May 22 16:02:03 +0000 2017

Oil rose to the highest in a month as Saudi Arabia said all producers participating in output cuts agree on extending the deal through the first quarter of 2018. Futures climbed as much as 1.5 percent in New York after advancing 5.2 percent last week. Prolonging the cuts will help producers reach their goal of ...
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Exxon Mobil completes massive plastics expansion near Houston

Mon May 22 14:59:48 +0000 2017

Exxon Mobil said Monday it has completed a large plastics plant expansion in Mont Belvieu as part of a massive, multibillion-dollar petrochemical growth effort in the Houston area. Exxon Mobil said it finished mechanical construction of two plastics facilities at its existing plant that will add 1.3 million metric tons of annual capacity to manufacture ...
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What's behind the spike in pump prices where you are?

Mon Jun 10 14:47:15 +0000 2013

After prices spiked much higher than average in several parts of the country, a lot of drivers are wondering why they're suddenly shelling out more to fill up.After prices spiked much higher than average in several parts of the country, a lot of drivers are wondering why they're suddenly shelling out more to fill up.



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Part 4: Disputes on  fracking impact obscure its future

Fri Apr 12 21:33:31 +0000 2013

Many facts about fracking's impact on the environment remain hotly contested. Consequences like water contamination have proven, but often it is not clear if they were directly caused by fracking or the result of sloppy drilling practices.Many facts about fracking's impact on the environment remain hotly contested. Consequences like water contamination have proven, but often it is not clear if they were directly caused by fracking or the result of sloppy drilling practices.



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Drivers could see lower gas prices this summer

Wed Apr 03 22:26:35 +0000 2013

Drivers can expect "significantly lower" gasoline prices this summer, but only if gas futures drop below the key level of $2.90 a gallon, professional trader Jim Iuorio told CNBC on Wednesday.
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Part 3: Energy boom could shake global order

Sun Mar 31 16:25:39 +0000 2013

Power Shift: A dramatic change is occurring in how energy is being produced and consumed around the world – one that could lead to far-reaching changes in geopolitics.Power Shift: A dramatic change is occurring in how energy is being produced and consumed around the world – one that could lead to far-reaching changes in geopolitics.



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Video: Oil may again alter Mideast's course

Fri Mar 29 20:32:24 +0000 2013

April 1, 2013: As energy production in North America climbs, NBC News' Chief Foreign Correspondent Richard Engel explores what it will mean to oil-producing countries in the Middle East. (NBC News Web Extra)As energy production in North America climbs, NBC News' Chief Foreign Correspondent Richard Engel explores what it will mean to oil-producing countries in the Middle East. (NBCNews.com)



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Part 2: Boom begins to ripple through US economy

Mon Mar 25 08:52:16 +0000 2013

The boom in new oil and natural gas flowing through U.S. pipelines is beginning to ripple through the wider American economy.The boom in new oil and natural gas flowing through U.S. pipelines is beginning to ripple through the wider American economy.



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Oil firms, environmentalists OK new fracking rules

Wed Mar 20 17:42:22 +0000 2013

In an unlikely partnership between longtime adversaries, some of the nation's biggest energy companies and environmental groups have agreed on a voluntary set of standards for gas and oil fracking in the Northeast.In an unlikely partnership between longtime adversaries, some of the nation's biggest energy companies and environmental groups have agreed on a voluntary set of standards for gas and oil fracking in the Northeast.



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For oil markets, China isn't what it used to be

Wed Mar 20 16:57:55 +0000 2013

Analysts argue that China has less pull on market prices than it did even a few short years ago.
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Interactive map: Where US energy is produced

Mon Mar 18 14:39:23 +0000 2013

See which states produce different types of energy, and where "fracking" is taking place.See which states produce different types of energy, and where "fracking" is taking place.



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Part 1: Energy boom dawning in America

Mon Mar 18 14:23:27 +0000 2013

In a turnaround that industry insiders describe as nothing short of amazing, advances in drilling technology have drastically altered America's energy picture, setting the stage for a boom that many believe could supercharge the entire economy.In a turnaround that industry insiders describe as nothing short of amazing, advances in drilling technology have drastically altered America's energy picture, setting the stage for a boom that many believe could supercharge the entire economy.



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Video: Residents welcome energy boom, while it lasts

Sat Mar 16 02:12:20 +0000 2013

March 14, 2013: New technology is creating a boom in energy extraction in the Permian Basin. For most residents, it's a welcome boost to the economy. (msnbc.com)New technology is creating a boom in energy extraction in the Permian Basin. For most residents, it's a welcome boost to the economy. (NBCNews.com)



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