Commerce

The head of ExxonMobil Corp. Wednesday told a House Energy and Commerce subcommittee that its pending $41 billion merger with unconventional gas powerhouse XTO Energy Inc. would be called off if Congress takes any action to limit or restrict the use of hydraulic fracturing (hydrofracing) in the prolific shale gas plays.

The hits just keep on coming for the U.S. Chamber of Commerce as two more of the country’s largest utilities — Exelon Corp. and PNM Resources — announced plans to drop their memberships over the chamber’s opposition to federal climate change legislation. In an effort to prevent more defections by its membership, the U.S. Chamber last week defended and clarified its position on House climate change legislation (HR 2454).

San Francisco-based Pacific Gas and Electric Co. (PG&E), one of the nation’s largest energy utilities, last Tuesday pulled out of the U.S. Chamber of Commerce regarding what it called “fundamental differences” over climate change.

San Francisco-based Pacific Gas and Electric Co. (PG&E), one of the nation’s largest energy utilities, on Tuesday pulled out of the United States Chamber of Commerce regarding what it called “fundamental differences” over climate change.

The House Energy and Commerce Committee last Thursday passed major Democrat-sponsored climate change legislation that seeks to significantly reduce carbon emissions over the next few decades, as well as bolster the authority of federal regulators in carbon and energy markets.

Climate change legislation approved last month by the House Energy and Commerce Committee would likely be neutral for natural gas but would certainly make renewable energy technologies big winners. Coal would be the loser, according to analysts at Raymond James & Associates Inc.

Climate change legislation approved last week by the House Energy and Commerce Committee would likely be neutral for natural gas but would certainly make renewable energy technologies big winners. Coal would be the loser, according to analysts at Raymond James & Associates Inc.

The House Energy and Commerce Committee Thursday passed major Democrat-sponsored climate change legislation that seeks to significantly reduce carbon emissions over the next few decades, as well as bolster the authority of federal regulators in carbon and energy markets.

In a rare display of unanimity Wednesday, Democrats on the House Energy and Commerce Committee accepted a Republican amendment to the climate change bill (HR 2454) that would promote the use of natural gas.