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Offshore drilling bill ‘decreases safety, increases Big Oil profits’

As gas prices reach $4 per gallon, the House passed legislation Thursday that would allow offshore drilling to expand, but an environmental watchdog says the bill will not help bring down gas prices and would weaken government oversight. “It’s astounding enough that the House would even consider expanding offshore drilling…

Obama, pushing re-election bid, vows relief on gas prices in Oprah appearance

WASHINGTON (Reuters) - President Barack Obama said he was seeking ways to provide “immediate relief” for high U.S. gasoline prices as he courted women voters with an appeal on pocketbook issues considered crucial to his re-election bid. Obama’s appearance on TV talk-show queen Oprah Winfrey’s popular syndicated program gave him a friendly forum to try to…

Dems invite Americans to wedding between GOP and Big Oil

WASHINGTON – As rising gas prices top the concerns of many Americans, Democrats are capitalizing on the moment to portray Republicans as wedded to the oil industry — and they’re invoking the royal wedding to make their point. “You are cordially invited to the R-Oil Wedding,” reads a new website…

Exxon profits soaring amid gas price hikes

HOUSTON (Reuters) – Exxon Mobil Corp’s quarterly profit rose a better-than-expected 69 percent as the world’s largest publicly traded oil company benefited from higher crude prices and better margins for its refineries. The Irving, Texas, company reported a first-quarter profit of $10.65 billion, or $2.14 per share, up from $6.3…

Obama demands Congress slash oil subsidies now

WASHINGTON – A consensus appears to be building in favor of stripping giveaways to multi-billion dollar oil companies, as the specter of rising oil prices amid high unemployment and soaring debt pressures Congress to act. In a letter Tuesday afternoon, President Barack Obama urged House and Senate leaders to “take…

Boehner opens door to cutting U.S. oil tax breaks

WASHINGTON (Reuters) – Congress should consider cutting multibillion-dollar subsidies to oil companies amid rising concern over skyrocketing gas prices, House of Representatives Speaker John Boehner said on Monday. “It’s certainly something we should be looking at,” Boehner said in an ABC News interview. “We’re in a time when the federal government’s short on revenues. They…

Obama team to investigate oil market fraud

RENO (Reuters) – President Barack Obama said on Thursday the U.S. attorney general was assembling a team to root out any fraud and manipulation in the oil markets that might be contributing to higher U.S. gasoline prices. “The truth is, there’s no silver bullet that can bring down gas prices…

Volcano near Phillipine capital shows increased activity, may erupt

More quakes and gas emissions have been detected from a volcano on an island close to the Philippine capital, possibly indicating an eruption is looming, according to the government. Twenty volcanic quakes were detected at Taal Volcano in the 24 hours to Saturday 8:00am (0000 GMT) compared to 15 quakes…

The greenest car you’ve (likely) never heard of

GREENSBURG, Indiana — The greenest car you’ve likely never heard of will soon be hitting Honda showrooms across the United States as the Japanese automaker expands sales of its compressed natural gas powered Civic. Honda has been quietly winning green car awards for more than a decade as it cautiously…

Senate defeats bid to gut climate efforts

WASHINGTON — The US Senate on Wednesday rejected a bid to strip President Barack Obama of his power to regulate greenhouse gases, a move that could have thrown US efforts against climate change into chaos. The Senate, where Obama’s Democratic Party holds a majority, voted 50-50 on a bill to…

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