Energy & Fuel

"The British oil giant BP said on Tuesday that its profit was down sharply in the third quarter as depressed oil prices took a heavy toll."

"A Chinese development firm is buying oil fields in western Texas for more than $1 billion."

"Nearly half of the U.S. Senate supports a resolution to challenge the Obama administration's regulation cutting carbon emissions from power plants, the core of the United States' broader climate change strategy, sponsors of the measure said on Tuesday." President Obama will veto the measure, which lacks votes for an override.

"Rep. Paul Ryan (R-Wis.), now officially running for speaker of the House, is awash in energy industry donations, an indication of his policy views and allegiances."

"The legal onslaught against the Obama administration's Clean Power Plan kicked off [Friday] as 25 states, industry and labor groups challenged the rule in court."

"After an investigation found that ExxonMobil has been funding climate-denying organizations — despite the findings of its own scientists on climate change—the world’s fourth-largest oil company is now going after the journalists who revealed it."

"Environmentalists and energy companies are trying to influence the Obama administration’s plan for thwarting an oil industry practice of venting and burning natural gas at some wells."

"OPEC members Iran and Saudi Arabia, the top greenhouse gas emitters yet to submit national strategies for tackling climate change, say they will do so before a U.N. summit in December in a sign of widening participation even by oil producers."

"As the Obama administration's carbon rules become final, states weigh fighting vs complying. ‘We can’t count on winning the lawsuit,’ one official says."