Trillion

Oil and natural gas “rust” is an “evil worse than depletion,” and in the next seven years, $50-100 trillion should be earmarked to rebuild the world’s aging infrastructure, according to energy guru Matthew R. Simmons.

Oil and natural gas “rust” is an “evil worse than depletion,” and in the next seven years, $50-100 trillion should be earmarked to rebuild the world’s aging infrastructure, according to energy guru Matthew R. Simmons.

The House Budget Committee late Wednesday adopted a $2.8 trillion budget resolution for fiscal 2007 that excludes language to open the Arctic National Wildlife Refuge (ANWR) to oil and natural gas drilling.

The Senate on Thursday approved a $2.8 trillion budget resolution that sets the stage for legislation authorizing drilling in the Arctic National Wildlife Refuge (ANWR), but the prospects for the inclusion of ANWR in the House budget appear bleak.

With oil and natural gas companies poised to invest up to $6 trillion in exploration and production (E&P) through 2030, the 28-year-old reserves accounting rules overseen by the Securities and Exchange Commission (SEC) should be updated to reflect new technology advances, a year-long study by Cambridge Energy Research Associates (CERA) has concluded.

Congress late Thursday passed a $2.6 trillion budget for fiscal 2006 that would, among other things, clear the way for oil and natural gas drilling on the coastal plain of Alaska’s Arctic National Wildlife Refuge (ANWR).

Congressional negotiators reached a deal Thursday on a $2.6 trillion budget for fiscal 2006 that would, among other things, clear the way for oil and natural gas drilling on the coastal plain of Alaska’s Arctic National Wildlife Refuge (ANWR).

The nation’s top three energy-related agencies, the departments of Energy, Interior and Transportation, shared in the general cutback for domestic spending in President Bush’s $2.57 trillion budget proposal for fiscal year 2006, which featured increased funding for the military and for international programs.

The nation’s top three energy-related agencies, the departments of Energy, Interior and Transportation, shared in the general cutback for domestic spending in President Bush’s $2.57 trillion budget proposal for fiscal year 2006, which featured increased funding for the military and for international programs.