Daily Archives: August 10, 2012

Biofuels industry prepares message for Obama’s Iowa visit

The biofuels industry is planning a corn ethanol defense strategy for President Obama’s trip to Iowa next week following disappointing corn yield estimates released Friday.

Agriculture Department predictions for corn supplies came in lower than expected in its biannual review. The 123.4 bushels per acre yield projected Friday is the lowest since 1995, and the […]

By |August 10th, 2012|Featured|1 Comment

Dismal crop forecast fuels ethanol battle

Biofuels opponents amplified calls Friday to the Obama administration to end a national corn ethanol requirement following the release of disappointing crop yield estimates.

Agriculture Department predictions for corn supplies came in lower than expected in its biannual review. The 123.4 bushels per acre yield projected Friday is the lowest since 1995, and the anticipated 10.78 […]

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House GOP energy leaders push Geithner for grant repayment plans

The top two House Energy Republicans pressed Treasury Secretary Timothy Geithner in a letter sent Friday for a plan to repay taxpayers for grants to now-bankrupt firms through a stimulus energy program.

House Energy and Commerce Chairman Fred Upton (R-Mich.) and subcommittee on Oversight and Investigations Chairman Cliff Stearns (R-Fla.) gave Geithner an Aug. 24 deadline […]

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Chinese oil company CNOOC hones strategy for US review of oil deal

The Chinese oil company CNOOC Ltd. is preparing for U.S. review of its planned $15 billion purchase of the Canadian oil producer Nexen Inc., a deal facing U.S. scrutiny because Nexen has Gulf of Mexico assets.

The Wall Street Journal looks at state-owned CNOOC’s strategy as it readies to submit the deal for review by the […]

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UN official: US must cut back on biofuels

A senior United Nations official is calling on the United States to suspend biofuels production to combat the effects of the country-wide drought, potentially giving momentum to those on Capitol Hill fighting for the same result.

The drought has inflicted enough damage on U.S. corn supplies to threaten international food supplies, U.N. Food and Agriculture Organization […]

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Ex-Shell chief compares US energy battle to Jabba the Hutt vs. Don Quixote

Former Shell Oil Co. President John Hofmeister uncorked a colorful analogy Friday to describe U.S. energy policy fights.

Said Hofmeister on CNBC when asked about Chinese oil company CNOOC’s much-discussed plan to buy Canadian oil producer Nexen: “I think the Chinese are going to take care of the Chinese, that’s what it means, and they are […]

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Rep. Issa: Administration ‘strong-armed’ auto companies into mileage standards

The chairman of the House Oversight and Government Reform Committee said Friday that President Obama used the bailout of U.S. auto companies to “strong-arm” them into agreeing with high gas-mileage standards.

Rep. Darrell Issa (R-Calif.) said the standards, which call for cars to get 54.5 miles per gallon by 2025, were negotiated when the U.S. […]

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News bites: Chesapeake confirms federal probe, GM seeks battery breakthrough, and more

The Wall Street Journal reports on “lingering mistrust” haunting the merger of utility powerhouses Duke Energy and Progress Energy.

Natural gas giant Chesapeake Energy confirms it’s facing a federal probe over “possible criminal antitrust violations related to the purchase and lease of oil and gas properties in Michigan,” Reuters reports.

Oil prices slid after rising sharply days […]

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