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In reversal, Obama administration to block oil drilling in Atlantic

In reversal, Obama administration to block oil drilling in Atlantic

WASHINGTON (AP) — In a major reversal, the Obama administration said Tuesday it will bar oil drilling in the Atlantic Ocean, a move cheered by environmentalists and consistent with the president’s aggressive steps to deal with climate change. Interior Secretary Sally Jewell made the announcement on Twitter, declaring that the administration’s next five-year offshore drilling plan “protects the Atlantic for ...

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Marathon Oil slashes dividend, capex to save cash

U.S. oil producer Marathon Oil Corp on Thursday said it is slashing its quarterly dividend 76 percent and further reducing capital expenditures to preserve cash on hand as it tries to withstand a prolonged crude price slump. Crude prices have lingered below $50 a barrel for weeks, a level that renders some shale oil drilling unprofitable. To free up needed ...

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Area cities oppose Everglades drilling proposal

Many cities in Broward County have passed resolutions opposing plans by a Miami-based company to conduct exploratory oil drilling in the Everglades. The company’s plans include digging up to two miles to explore the chances of extracting oil. Miramar, which is the city that will be the most affected if the drilling took place, acted first and exhorted the Florida ...

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Lackluster venture may spur port to cut budget revenues by millions

In an unusual move, the Port of Vancouver is expected to cut $15.29 million in revenue from its overall 2015 budget because it now anticipates a new freight-hauling venture will not live up to expectations. Under the “dedicated rail service” plan, the port anticipated $18.57 million in revenue from leasing rail cars to haul oil-drilling materials to North Dakota; those ...

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As Santa Barbara oil spill cleanup continues, damage still being assessed

Environmental specialists on land and in boats worked along a picturesque stretch of shoreline north of Santa Barbara this morning to clean a portion of the Pacific Ocean fouled by thousands of gallons of oil from a broken pipeline. The 24-inch pipe owned by Houston-based Plains All American Pipeline ruptured about noon Monday, and 21,000 gallons flowed into the sea ...

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Oil-drilling controversy here stirs old bitterness in Alaska

A month ago, the Alaska House of Representatives took time out from struggling to forge a state budget in the face of plummeting oil prices to talk about Washington state. For nearly an hour, they debated the wording of a five-page resolution that blasted Evergreen State politicians for their opposition to Shell’s offshore oil exploration in the Arctic and mockingly ...

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