Last updateThu, 13 Dec 2018 5pm


Oil Industry Details Costs of Climate Bill

Proposed federal legislation aimed at curbing global warming would drastically reduce domestic fuel production, according to a new study commissioned by the oil industry as part of its campaign to oppose new restrictions.


The report's findings, which are expected to be released Monday, project that by 2030, U.S. refining production could drop 17% from today's levels if the climate bill is passed as currently proposed.


Source: Wall Street Journal


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S. Dakota OKs Permit for New Refinery Construction

The South Dakota Board of Minerals and Environment on Thursday granted Dallas-based Hyperion LLC a permit to build a 400,000-barrel-per-day refinery, which would be the first new refinery built in the United States since 1976, the company said in a statement.


Opponents to the plant have up to 30 days to decide on an appeal through state courts in South Dakota, according to a report on the Rapid City Journal website.


Source: Reuters


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Retrofitting Dams to Generate Electricity

Environmental opposition often means that new hydropower facilities are non-starters. But there may be a way around that: retrofitting existing dams.


Only 3 percent of the 80,000 dams in the United States are used to generate power, according to Norm Bishop, a vice president at MWH, a water engineering firm. They were built for other purposes, like flood control, recreation, irrigation or water storage.


Source: New York Times


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Interest Lukewarm in Sale of Offshore Gas Leases

With natural gas prices down two-thirds or more from a year ago and supplies backlogged, interest in Texas offshore leases has dropped.


The Minerals Management Service said Tuesday that 26 companies submitted 189 bids on 162 federal tracts - down sharply from last year's western Gulf of Mexico sale that attracted 423 bids from 53 companies on 319 tracts. The bids will be opened Wednesday in New Orleans.


Source: Associated Press


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U.S. Chem Companies Shed Jobs, But Unemployment Rate Falls

The US chemicals and plastics industries experienced continued job losses in July, but the overall US unemployment rate fell for the first time since April 2008, the Labor Department said on Friday.


Chemical sector job losses totalled 2,600 in July from June for a decline of 0.3%, bringing the seasonally-adjusted workforce total to 809,200.


Source: ICIS


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