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Podesta, a Keystone skeptic returns to White House

Podesta

By Patrick Rucker and Mark Felsenthal Dec 11 – John Podesta’s return to the White House could dim prospects for the Keystone XL pipeline’s approval, environmentalists said Wednesday, as the Democratic Party elder and Keystone critic crafts policies to curb climate change. Podesta, who was chief of staff under President Bill Clinton, will have the title “counselor to the president” ...

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Oil near $97 after rise in US gasoline supplies

oil stocks

Oil prices continued to drop Thursday after the U.S. government reported a large buildup in supplies of gasoline and diesel. Benchmark U.S. oil for January delivery was down 7 cents to $97.37 in electronic trading on the New York Mercantile Exchange. The contract fell $1.07 to close at $97.44 on Wednesday after the U.S. Energy Department’s report on supplies. Anticipation ...

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Chevron sets 2014 budget at $39.8 bln

chevron

Dec 11 – Chevron Corp, the second-largest U.S. oil company, said it plans to spend $39.8 billion on projects and exploration in 2014, about 5 percent below the expected 2013 spending. Investors are putting increased pressure on the world’s biggest oil companies to rein in spending and return more money to shareholders – a trend Royal Dutch Shell Plc recently ...

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Oil recovers to above $110 after biggest fall in 5 weeks

stocks

By Florence Tan SINGAPORE, Dec 10 (Reuters) – Brent crude rose toward $110 a barrel on Tuesday, recouping some of the previous session’s sharp losses, as data from China reaffirmed signs of stabilising growth and fuel demand in the world’s second-largest oil consumer.  China’s implied oil demand rose 1.5 percent in November to about 9.94 million barrels per day (bpd) ...

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Railroad industry thriving due to shale oil boom

Railroad emergance

By Paul Monies The boom in oil and natural gas drilling from shale means the nation’s railroads are handling more unit trains of crude oil and shipments of sand used in hydraulic fracturing, a vice president for BNSF Railway Co. said Tuesday. Dean Wise, vice president of network strategy for the Fort Worth, Texas-based railroad, said his company also launched ...

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BNSF a big winner in Obama’s high-speed rail program

bnsf rose dalrymple

WASHINGTON — President Barack Obama’s high-speed rail program was supposed to deliver faster and more frequent passenger trains to communities across the country. But some of the $10.1 billion in funding for that program could also benefit one of the nation’s largest freight railroads. Washington state received $781 million from the Obama administration’s 2009 economic stimulus to improve passenger rail ...

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Sen Hoeven says Keystone Pipeline brings jobs

U.S. Sen. John Hoeven, R-N.D., mentioned getting the Keystone XL oil pipeline constructed from Canada would offer a protracted-time period supply of nationwide power safety. "The Keystone XL pipeline is an important power infrastructure challenge with the intention to create forty two,000 jobs and ship 830,000 barrels of oil per day to U.S. refineries, together with one hundred,000 barrels from the U.S. Bakken area of North Dakota and Montana," Hoeven mentioned in Fargo Thursday. Hoeven, a member of the Senate Power Committee, stated he's working to motivate the federal govt to log off on Keystone XL, which TransCanada plans to construct from Alberta. Keystone XL was once proposed through TransCanada greater than 5 years in the past. The undertaking desires federal approval as a pass-border pipeline. Hoeven stated the pipeline would convey extra earnings to native, state and federal governments. President Obama mentioned he'd weigh the mission in opposition to its environmental footprint. If constructed, the pipeline would run thru Montana however no longer North Dakota.

By Jason Spiess FARGO, ND – U.S. Sen. John Hoeven, R-N.D., said mentioned getting the Keystone XL oil pipeline constructed from Canada would offer a protracted-time period supply of nationwide power safety. “The Keystone XL Pipeline is an important power infrastructure challenge with the intention to create 42,000 jobs and ship 830,000 barrels of oil per day to U.S. refineries, ...

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Market News: Natural Gas Shows First Loss in Nine Sessions

stocks

By: David Bird NEW YORK–Natural-gas futures fell Tuesday for the first time in nine sessions, but held near six-month highs amid mixed near-term weather signals. Market participants said winter weather is the driving force now and confirmation that in coming days temperatures in key markets will turn much colder could reignite the rally. “We’re seeing a bit of a pullback ...

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