Yahoo! energy News

PR Newswire - ALEXANDRIA, Va., Sept. 1 /PRNewswire-USNewswire/ -- On Thursday, September 2, 2010 at 2:30 pm Eastern, the National Taxpayers Union (NTU) will host a conference call to discuss a campaign to fight efforts from federal officials that would increase taxes on American energy companies.  Two proposals – repeal of a "dual capacity" credit and a manufacturers' deduction included in Section 199 of the U.S. tax code – under consideration in Congress will kill thousands of American jobs and increase costs on small businesses and American families while effectively giving a competitive edge to state-owned companies in countries like Venezuela and China.

AP - A federal judge ruled Wednesday that a lawsuit brought by energy producers challenging the cancellation of 77 oil and gas drilling leases was filed too late.

AP - Oil prices sailed higher Wednesday as improvement in the manufacturing industry eased some fears about the strength of the global recovery.

Reuters - A federal judge on Wednesday rejected the U.S. government's request to dismiss an industry lawsuit challenging its deepwater oil and gas drilling moratorium, dealing another blow to the Obama administration.

AP - Oil giant BP says it has spent more than $5 million a week on advertising since the Gulf Coast oil spill — more than three times the amount it spent on ads during the same period last year.

PR Newswire - HARRISBURG, Pa., Sept. 1 /PRNewswire-USNewswire/ -- Governor Edward G. Rendell today announced $20.5 million in state and federal investments that will create 1,400 jobs in the rapidly expanding clean energy industry.

AP - A federal judge who overturned the Obama administration's initial six-month moratorium on deepwater oil drilling has rejected the government's bid to have the court challenge thrown out.

AP - The federal government's point man on the Gulf of Mexico spill response said Wednesday there is no "significant risk" that more oil will leak into the sea when engineers remove the temporary cap Thursday that first contained the gusher in mid-July.

AP - Not a light bulb's worth of solar electricity has been produced on the millions of acres of public desert set aside for it. Not one project to build glimmering solar farms has even broken ground.

AFP - World oil prices rose on Wednesday, rebounding from sharp losses earlier this week, as traders absorbed upbeat Chinese manufacturing data ahead of the weekly snapshot of US energy inventories.

AP - Oil prices rose above $72 a barrel Wednesday after a steep drop the previous day amid evidence that U.S. crude supplies remain high and demand weak.

Reuters - Oil rose to $72 per barrel on Wednesday after news Chinese manufacturing growth accelerated last month, easing concerns over the pace of economic recovery.

AP - A parish official says a Louisiana oil spill command center is shutting down over a dispute with BP over rent and other expenses

AP - A Dallas man pleaded guilty Tuesday to participating in two oil and gas schemes that defrauded 7,700 investors out of about $535 million.

AP - The federal government's point man on the Gulf oil disaster says work to remove the 300-ton piece of equipment that failed to stop the massive oil spill could be delayed until the weekend or longer because of rough seas.

AP - Scandalized by federal regulators who had sex with oil company executives and negotiated with them for jobs, the agency that oversees offshore drilling is imposing a first-ever ethics policy that bars inspectors from dealing with a company that employs a family member or personal friend.

AP - Some of the economic news was a little better on Tuesday, but it was not enough to keep oil prices from dropping again.

AFP - Oil prices plummeted Tuesday for the second consecutive day as investors fretted over the pace of the US economic recovery and growing oil inventories.

AP - RESULTS: Lukoil, Russia's second-largest oil producer, reported a 16 percent drop in second-quarter profit to $1.9 billion due to a rise in export duties and cost inflation. Higher oil prices lifted sales to $25.8 billion from $20.1 billion a year earlier.

AP - Greenpeace forced a Scottish company to stop drilling off Greenland on Tuesday by having four activists climb onto an oil rig.