Energy & Fuel

"Senate Republicans' push for a vote on approval of the delayed $7 billion Keystone XL oil pipeline project gained momentum on Tuesday after Democrats failed to end debate on a major transportation bill.

Fifty-two senators, most of them Democrats, voted to move forward on the $160 billion highway bill without a proposed Republican amendment to authorize construction of the Canada-to-Texas pipeline, eight votes short of the 60 needed to end debate.

"President Barack Obama said on Tuesday he is concerned about oil output around the world as gasoline prices soar and is looking to ease bottlenecks at U.S. refineries to help ease prices at home."

"President Barack Obama on Sunday told a pro-Israel lobbying group that 'loose talk of war' was only serving to benefit Iran because it was driving up the price of oil."

"After one of the biggest environmental fights in decades, exploratory drilling is expected to begin in July off the state's north coast. The company has plans in case of a spill; opponents say normal operations will still release damaging chemicals."

"The help-wanted sign is out in Canton, Ohio, for Chesapeake Energy."

"The company that has led the charge in shale gas drilling is looking for truck drivers with licenses for hazardous materials, a purchasing coordinator for oil field equipment, a pipeline technician, a field safety coordinator, administrative assistants, troubleshooting electricians, a tax analyst and more.

"Two utility companies announced the closure of 10 aging U.S. power plants Wednesday, a move environmental groups hailed as a major victory even as critics warned it could raise the price of electricity."

Juliet Eilperin reports for the Washington Post February 29, 2012.

SEE ALSO:

"NASHUA, N.H. -- With his re-election fate increasingly tied to the price Americans are paying at the gas pump, President Obama asked Congress on Thursday to end $4 billion in subsidies for oil and gas companies and vowed to tackle the country’s long-term energy issues while shunning 'phony election-year promises about lower gas prices.'"

"Senate Energy and Natural Resources Committee Chairman Jeff Bingaman (D-N.M.) will introduce legislation Thursday mandating that power companies generate a major portion of the country’s electricity from low-carbon energy sources."

"GRAND JUNCTION, Colo.—Chevron Corp. is giving up its experimental oil shale lease in northwest Colorado, saying it wants to free up its resources for other priorities."

The Texas utility formerly known as TXU seems to be turning out a big bust for investors. It's a story that goes back to the political and economic failure of the Bush-era plan to build hundreds of coal-fired electric plants -- and the fact that the go-go pace of natural gas drilling has pushed the price of that commodity down for the long term.

"Struck at the peak of the buyout boom five years ago, the $45 billion acquisition of the Texas energy giant TXU — the biggest leveraged buyout in history — has been a painful investment for its private equity owners.