Leaders

The U.S. oil and gas industry is riding high, and those who have the wherewithal and the talents are catching the wave with it, according to the latest Forbes Billionaires list.

Development of oil and natural gas in the Eagle Ford Shale added more than $61 billion in total economic impact during 2012, according to a study by the Center for Community and Business Research in The University of Texas at San Antonio (UTSA) Institute for Economic Development.

Hoping to head off threats of a state moratorium on hydraulic fracturing (fracking), Illinois leaders, the exploration and production (E&P) industry and conservation groups on Thursday firmed a mutual agreement on a bipartisan bill (HB 2615) that establishes rules for unconventional drilling using stimulation techniques.

For California and other states that want to emulate its precedent-setting low-carbon fuel standards (LCFS), some industry leaders are warning that there may be unintended environmental and economic consequences waiting around the bend.

Hoping to head off threats of a state moratorium on hydraulic fracturing (fracking), Illinois state legislative, oil/natural gas industry and environmental leaders on Thursday announced agreement on a bipartisan bill (HB 2615) establishing rules on the use of the contested well stimulation practice.

For California and other states that want to emulate its precedent-setting low-carbon fuel standards (LCFS), some industry leaders are warning there may be some unintended environmental and economic consequences waiting around the bend.

Republican leaders in the Ohio General Assembly indicated that they will give some consideration to Gov. John Kasich’s proposal to impose new severance taxes on hydraulic fracturing (fracking) and natural gas liquids (NGL) in 2013, after declining to do so in 2012.

A policy analyst for a conservative think tank in Ohio blasted Gov. John Kasich’s plans to levy new severance taxes for natural gas, accused the Obama administration of waging a “war on coal” that hurts the state and urged legislators to repeal renewable energy requirements.

The United States should be exporting more chemicals, glass, steel, aluminum and other products, but the country’s leaders should think long and hard before adding liquefied domestic natural gas to that list, a Dow Chemical executive said Wednesday. While end-user industries fear higher gas prices, producers are looking to all potential demand sources to lift gas prices and make their dry gas operations economic once again.