Energy News for February 5, 2015

  • by BPC Staff
  • on February 5, 2015

Today’s Washington Brief:

  • The DOE axed a major clean coal project after delays meant the program would run out of federal funding. The Washington Post
  • An Inspector General report finds that FERC and its former chairman leaked sensitive information about hypothetical attacks on the electric grid. E&E has the story.
  • A bipartisan group of House lawmakers yesterday unveiled plans to reform the controversial Renewable Fuel Standard. The Hill


Today’s Business Brief:

  • Following their biggest rally in six years, oil prices plunged yesterday as signs of a supply glut grew, Bloomberg Brent crude rebounded to $55 today, but the outlook is fragile. More from CNBC.
  • A group of 12 high-profile CEOs urged world leaders involved in the UN climate talks to set their sights on a zero-emissions economy by mid-century. Reuters has the story.
  • Union leaders are considering an offer from Royal Dutch Shell made late yesterday as the refinery strike enters its fifth day. Reuters Lawmakers reintroduce ethanol mandate reform bill

Platts: Spending cuts could lead to further slump in oil prices, EIA chief says

Oil & Gas Journal: Analysts: Large-field oil projects could add 1.8M barrels per day in 2015

The Washington Times: Obama’s offshore drilling policies are a “shell game”


EPA FINALIZES RULE FOR FURNACES, WOOD STOVES: EPA yesterday released its final pollution control rule covering wood heaters and stoves, the first update since 1988.

H.R. 702:  Turns out H.R. 666 is just too hot to handle. When Rep. Joe Barton introduced his bill repealing the crude oil export ban this week, it just happened to be assigned the number H.R. 666. But after blasting out the news about the bill on Tuesday, the Texas Republican decided it was best to get a bill number not related to the Book of Revelations.

Reuters: Oil prices crashed on Wednesday, with U.S. crude losing 9 percent in one of its biggest daily routs ever, as record high oil inventories in the United States cut short a four-day rally. 

WYOMING OIL AND GAS LEASE SALE NETS $8.5 MILLION: A quarterly Bureau of Land Management oil and gas lease sale in Wyoming yesterday generated more than $8.5 million in receipts. 


– Weatherford will cut 5,000 jobs, mostly in the western hemisphere, as oil prices fall. FuelFix:

– Boomtowns are suffering as energy prices fall. CCTV:

– Falling oil prices have led to increased prices for imported products in Venezuela, including condoms. Bloomberg:

– High-profile CEOS, including Richard Branson and Ratan Tata, call for an international climate plan to bring greenhouse gas emissions to zero by 2050.

– A freight train carrying ethanol derail near Dubuque, with some catching fire. AP:

– Wisconsin Gov. Scott Walker’s proposed budget includes $250,000 to study the health impacts of wind turbines. Huffington Post:

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