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Author Archives: Ben Karkela

US industrial output fell in May; auto production plummeted

industrial output

WASHINGTON (AP) — Falling auto production fueled a broader decline in U.S. industrial output in May, a potentially worrying sign that manufacturers face economic challenges. The Federal Reserve said Wednesday that industrial output — which includes factories, mines and utilities — dropped 0.4 percent from April. The decline reversed the 0.6 percent gain seen between April and March, an improvement ...

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Scientists: Drop Arctic from plans for offshore drilling

offshore drilling, Arctic

ANCHORAGE, Alaska (AP) — Nearly 400 scientists have signed a letter urging President Obama to eliminate the possibility of Arctic offshore drilling in the near future by taking the Arctic Ocean out of the next federal offshore lease sale plan. The scientists include Jane Lubchenco, Obama’s former administrator of the National Oceanographic and Atmospheric Administration, now a researcher and teacher ...

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New Mexico settles with Texas well operator

Texas well operator

SANTA FE, N.M. (AP) — New Mexico oilfield regulators have reached a settlement agreement with a Texas well operator in response to spills of oily salt water at the company’s waste-water injection sites and oil wells. The New Mexico Oil Conservation Division confirmed Tuesday the agreement with Siana Operating of Midland, Texas, that outlines a timeline for cleaning up the ...

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Eagle Ford shale to benefit from $3.6B pipeline projects

Eagle Ford, pipeline, natural gas, Mexico

Eagle Ford shale producers are benefiting from Mexico’s need for more electricity. Mexico’s state-owned Federal Electricity Commission recently awarded $3.6 billion in pipeline projects to TransCanada, Spectra Energy and others. The projects will transport shale gas from Texas to Mexico to help meet the country’s growing electricity needs. For decades, Mexico’s electric power infrastructure has been hampered by inefficiency and ...

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Mexico to offer farm-out on deep water field in Gulf

Mexico, Pemex

MEXICO CITY (AP) — Mexico’s state-owned oil company announced Friday it will offer a farm-out arrangement to private firms to join in the exploration of a deep-water field in the Gulf of Mexico. It would be the first time that Petroleos Mexicanos has formed an association with a private firm for deep-water drilling. Pemex Director Jose Antonio Gonzalez called it ...

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Colorado has 40 times more natural gas than thought

natural gas, Colorado, hydraulic fracturing

DENVER (AP) — Western Colorado has 40 times more natural gas than previously thought, but an immediate boom is unlikely because of low gas prices, government and industry experts said Wednesday. The U.S. Geological Survey said the Mancos Shale formation in Colorado’s Piceance (PEE’-yahns) Basin holds about 66.3 trillion cubic feet of gas, up from 1.6 trillion estimated in 2003. ...

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Retail gasoline prices up 3 cents in Texas, nationwide

Texas, gasoline prices

COPPELL, Texas (AP) — Retail gasoline prices in Texas and nationwide are up 3 cents this week. AAA Texas on Thursday reported the average price at the pump across the state was $2.15 per gallon. The nationwide average reached $2.36 per gallon. Drivers in Amarillo have the cheapest gasoline in Texas this week at $2.03 per gallon. The association survey ...

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Scientists turn carbon dioxide into harmless stone

carbon dioxide

WASHINGTON (AP) — Scientists have a found a quick way — but not a cheap one — to turn heat-trapping carbon dioxide gas into harmless rock. Experts say the results of a two-year, $10 million experiment called CarbFix, conducted about one-third of a mile (540 meters) deep in the rocks of Iceland, offer new hope for an effective weapon to ...

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Shell to end longtime sponsorship with Houston Open

Houston Open, Shell

HOUSTON (AP) — Shell Oil Co. has decided not to extend its title sponsorship of the Houston Open after next year, ending the third-longest running title sponsorship on the PGA Tour. Steve Timms, president and chief executive of the Houston Golf Association, said Shell’s decision to leave after 2017 was a function of its business environment and that the company ...

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Global stocks slide amid concerns about world economy

MANILA, Philippines (AP) — Global stocks fell on Thursday as investors worried about the health of the global economy given the Federal Reserve’s cautious stance about raising its interest rates. Financial markets were closed for holidays in China, Hong Kong and Taiwan. KEEPING SCORE: In Europe, Britain’s FTSE 100 slid 0.9 percent at 6,248 and Germany’s DAX fell 1.2 percent ...

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