Son of Circus Thrives as Crude-Oil Traffic Cop
The rows of traders who line the massive trading floor at Mercuria Energy Group's Houston headquarters rely on a string of modern conveniences to execute deals across the globe. But when they're under the gun to deliver oil fast, they call one person: Tim Holan. That's because Holan, the head of logistics for the trading firm, cut his teeth on moving an even heavier cargo: elephants.
Possible Scalia Replacement Previously Represented Exxon, Rio Tinto
One possible contender to replace Justice Antonin Scalia on the U.S. Supreme Court is an Indian-American appeals court judge, Sri Srinivasan, who has pro-business credentials and a stellar resume. If he was nominated his background may make it more politically challenging for Republicans as they plan to block anyone put forward by President Barack Obama. Srinivasan, 48, has served on the U.S.
U.S. Energy MLPs May be Running Out of Road
Investment vehicles that funneled more than $100 billion into U.S. pipelines, storage and other facilities during the shale boom now face an existential crisis after oil tumbled so low that it upended assumptions about risks and returns they offer. Those tax-protected structures were the Holy Grail of energy investing during the upswing, combining hefty payouts made…
Kemp: U.S. Crude Export Controls Crumbling
In the three months ending in August, the United States and Canada swapped a record amount of crude oil with each other, one of the more bizarre consequences of outdated U.S. export controls. Because U.S. oil producers cannot export crude oil to any other country, crude is sent north to refineries in Canada, even if it would make more sense to ship it to refineries in Europe, Latin America or Asia. In some instances, crude is even shipped past U.S.
EIA Study Gives nod to Crude Exports: Kemp
Gasoline prices in all parts of the United States are tied to Brent rather than the domestic crude oil benchmark WTI, according to a detailed study published on Thursday by the Energy Information Administration (EIA). The EIA study removes the last principled objection to lifting the ban on U.S. crude oil exports - namely that it would lift domestic oil prices and through them the cost of filling up at the pump.
A History of U.S. Oil Export Controls
On Oct. 20, 1973, King Faisal of Saudi Arabia imposed a total embargo on oil shipments to the United States among other countries in response to their support for Israel during the Arab-Israeli war. Faisal's decision led directly to the introduction of a ban on U.S. crude exports, which remains in force in a slightly modified form and is now the focus of an intense struggle for reform. Following the U.S.
Obama Announces Actions On Renewable Energy
President Barack Obama announced steps on Friday to increase the use of solar panels, boost energy efficiency in federal buildings and train more people to work in the renewable energy field. "It's the right thing to do for the planet," Obama said, standing in the outdoor lighting display section of a WalMart store that features roof-top solar panels and a charging station for electric vehicles, among other energy-saving retrofits.
Ocean Science and Exploration Focus on Capitol Hill
Explorer and director James Cameron will be on Capitol Hill on Tuesday, June 11, with Dr. Susan Avery, president and director of Woods Hole Oceanographic Institution for a series of public events and a Senate hearing. Central to their visit is the display of the Deepsea Challenger, the only human-occupied vehicle currently able to access the deepest parts the ocean.
