President Barack Obama is preparing to block the sale of new offshore drilling rights in much of the U.S. Arctic and parts of the Atlantic, a move that could indefinitely restrict oil production there, according to two people familiar with the decision.
The Obama administration’s decision to forgo auctions of new oil and gas drilling rights in U.S. Arctic waters deals a blow to energy companies seeking to lock up new territory beyond the long-explored Gulf of Mexico.
The Obama administration will issue sweeping new regulations on offshore drilling Thursday, imposing potentially costly requirements for those coastal wells and the emergency equipment meant to prevent environmental disasters.
US president Barack Obama's surprise proposal yesterday to charge a $10 a barrel fee on crude oil, equivalent to one-third the going price, drew a swift response from traders and industry figures.
President Barack Obama said he would move to change the way in which US oil and coal resources are managed in his final State of the Union address. The Democratic politician said the US had to “accelerate” its transition away from fossil fuels to cleaner energy. Obama, who is now in his final year of office, did not go into any finer details of what that would entail.
US president Barack Obama has said the emerging global climate agreement must have transparency provisions and periodic reviews of carbon-cutting targets that are legally binding.
The Keystone XL review suddenly looks like a priority for the Obama administration, and cheap oil may be part of the reason. After dragging its feet for years to dodge one of the most contentious energy issues during President Barack Obama’s time in office, the administration took only a couple of days to deny a TransCanada Corp. request to pause the process while the company sought approval in Nebraska. The collapse of crude prices in the face of the US shale boom has lowered gasoline prices, weakening an argument for the $8-billion project that resonated with American voters. This has paved the way for Obama to focus on one issue that’s very dear to him: climate change.
President Barack Obama’s 15-year plan to cut power plant carbon dioxide emissions and steer the US toward renewable energy sources is under legal attack. Again.
Barack Obama crossed the Arctic Circle in a first by a sitting US president, telling residents in a far-flung Alaska village their plight should be the world’s wake-up call on global warming. His visit to Kotzebue, a town of some 3,000 people in the Alaska Arctic, was designed to snap the country to attention by illustrating the ways warmer temperatures have already threatened entire communities and ways of life in Alaska. He said, despite progress in reducing greenhouse gases, the planet is already warming and the US is not doing enough to stop it.
Legislation to repeal a 40-year ban on most domestic oil exports will probably become law in the first quarter of next year, according to analysts at Evercore ISI.
President Barack Obama pledged America’s “ironclad commitment” to anxious Persian Gulf nations to help protect their security. He pointedly mentioned the potential use of military force and offered assurances that a potential nuclear agreement with Iran would not leave them more vulnerable. At the close of a rare summit at the presidential retreat at Camp David, Mr Obama said the US would join the Gulf Co-operation Council nations “to deter and confront an external threat to any GCC state’s territorial integrity”. The US pledged to bolster its security co-operation with the Gulf on counter-terrorism, maritime security, cybersecurity and ballistic missile defence.