Oil and Gas

2:15pm

Tue January 24, 2012
Energy

Foreign Oil Imports Drop As U.S. Drilling Ramps Up

Originally published on Tue January 24, 2012 4:07 pm

Natural gas is burned off next to an oil well being drilled at a site near Tioga, N.D., in August. U.S. oil production started increasing a few years ago and is predicted to continue to rise, reducing the country's dependence on oil imports.
Karen Bleier AFP/Getty Images

Since President Obama took office, the U.S. has made considerable progress in overcoming a problem that has bedeviled presidents since Richard Nixon — dependence on foreign oil.

When U.S. oil dependence peaked at 60 percent in 2005, then-President George W. Bush said the country had a serious problem and was "addicted to oil."

Oil imports were down to 49 percent in 2010, and the Energy Information Agency predicted Tuesday that imports would drop to 36 percent by 2035.

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4:22pm

Mon January 23, 2012
Europe

EU Squeezes Iran With New Oil Sanctions

The EU has agreed to an embargo on buying oil from Iran in the latest sanction against that country for its nuclear program. Catherine Ashton, the EU foreign policy chief, speaks here in Brussels on Monday following a meeting of EU foreign ministers.
Virginia Mayo AP

The battle over Iran's nuclear program escalated Monday as the European Union announced an embargo on importing oil from Iran.

For years, Europe has been reluctant to join the United States in imposing tough sanctions on Iran. The United States years ago stopped buying Iranian oil, while European nations including France, Spain, Italy, and Greece kept up their purchases. European countries right now buy about 600,000 barrels of oil per day from Iran.

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5:24am

Mon January 23, 2012
The Two-Way

EU Approves Embargo On Iranian Oil

Originally published on Mon January 23, 2012 10:06 am

The European Union officially agreed to impose an embargo on Iranian oil, today. The AP reports that the union's 27 foreign ministers agreed on an immediate ban on new contracts for oil and existing contracts will be allowed to run through July 1.

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5:00am

Mon January 23, 2012
Health

State Has Backlog Of Air Pollution Permits For Oil & Gas

The brown cloud covering highly populated parts of the Front Range is the visible part of air pollution, but unseen ozone is most dangerous to health.
Robert D. Tonsing Colorado Public News

Colorado’s oil and gas boom combined with a cash-strapped state government has caused a backlog of 1,800 pending air pollution control permits for oil and gas equipment.

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4:00am

Mon January 23, 2012
Environment

Colorado Lawmaker to Introduce Fracking Bill

Matt Jones (D) Colorado State Representative, District 12
Colorado House Democrats

A state lawmaker plans to introduce legislation as early as this week that would give local governments more authority to regulate hydraulic fracturing, a move that comes as many local governments have looked to limit or temporarily ban fracking within their boundaries.

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