Targets

Climate change legislation now being considering by Congress unfairly targets Midwestern states and would force a disproportionately large portion of the cost of cap-and-trade on utility customers in those states, according to some panelists testifying during a hearing of the Senate Environment and Public Works Committee Wednesday.

The Environmental Protection Agency’s (EPA) proposed rule out last week to regulate greenhouse gas (GHG) emissions under the New Source Review provisions of the Clean Air Act targets large emitters — including power plants — but spares smaller facilities.

The CEO of Houston-based W&T Offshore Inc. said the company has turned a corner to profitability and will be building its cash position in anticipation of bargains to come. Targets for acquisition will need to contribute to cash flow, he said.

BP plc’s quarterly profits fell by half from the same period a year ago, but the company still is managing to surpass cost-cutting targets and increase its oil and natural gas output, CEO Tony Hayward said last week. The company, however, doesn’t think a global economic recovery — or energy demand growth — will happen this year.

BP plc’s quarterly profits fell by half from the same period a year ago, but the company is surpassing its cost-cutting targets and increasing output, CEO Tony Hayward told reporters Tuesday. The company, however, doesn’t think a global economic recovery — or energy demand growth — will happen this year.

Even if major polluters China and India refuse to accept carbon emission-reduction targets, unilateral efforts by the United States to cut emissions would make a significant difference in global warming, said Obama administration officials Tuesday.

The cloak and dagger spy activity of the Cold War era has gone on-line, according to current and former national security officials, who report that one of the main targets of these cyberspies is the U.S. electrical grid infrastructure.

The cloak and dagger spy activity of the Cold War era has gone on-line, according to current and former national security officials, who report that one of the main targets of these cyberspies is the U.S. electrical grid infrastructure.

Quicksilver Resources Inc., which targets North American unconventional natural gas plays, reported Monday that 2007 reserve additions hit a record 608 Bcfe after replacing 780% of its total-year output of 78 Bcfe.