Congress

A coalition of western business interests has urged Congress to support legislation (HR 2227) that would promote oil and natural gas activity in the federal Outer Continental Shelf (OCS). At the same time it called a bill (HR 3534) sponsored by House Natural Resources Committee Chairman Nick Rahall (D-WV) a “frontal attack” on the industry and urged lawmakers to oppose it.

The Obama administration Tuesday sent to Congress legislative language that calls for comprehensive regulation of over-the-counter (OTC) derivatives markets and dealers for the first time.

If Congress passes all of President Obama’s tax proposals that are directly and indirectly aimed at domestic oil and natural gas producers, the hit could be more than double the widely reported $32.6 billion, according to the American Petroleum Institute (API).

Citing a favorable record on energy efficiency and emissions, the CEO of Piedmont Natural Gas Tuesday called for Congress to exclude residential and commercial natural gas customers from a “rigid” cap-and-trade system.

A top official involved in ocean policy reform last Tuesday called on President Obama and Congress to work together to set up an ocean investment fund — largely to be funded by revenues from oil and natural gas development on the Outer Continental Shelf (OCS) — that would provide financial support for maintaining and managing the oceans, coasts and Great Lakes.

A top official involved in ocean policy reform Tuesday called on President Obama and Congress to work together to set up an ocean investment fund — largely to be funded by revenues from oil and natural gas development on the Outer Continental Shelf (OCS) — that would provide financial support for maintaining and managing the oceans, coasts and Great Lakes.

The money to be allocated by Congress to build U.S. power transmission facilities is just a drop in the bucket of what will be needed to improve reliability of the grid and deliver renewable power to population centers from remote locations, FERC Acting Chairman Jon Wellinghoff said last Thursday.

The development of domestic oil and natural gas resources in areas that have been kept off-limits by Congress for decades could produce more than $1.7 trillion in revenue for the federal government, create thousands of jobs and bolster the nation’s energy security, according to a study released by the American Petroleum Institute (API).

The development of domestic oil and natural gas resources that have been placed off-limits by Congress for nearly three decades could produce more than $1.7 trillion in revenue for the federal government, create thousands of jobs and bolster the nation’s energy security, a study released by the American Petroleum Institute (API) said.