Energy & Fuel

The International Energy Agency Wednesday issued a report saying the world is still hooked on fossil fuels, and will have to cut carbon emissions further.

"The average price of gasoline will be below $3 a gallon in 2015, the government predicted Wednesday. If the sharply lower estimate holds true, U.S. consumers will save $61 billion on gas compared with this year."

"A week after a historic vote to ban hydraulic fracturing (or fracking — the controversial drilling method that forces oil and gas from shale formations with pressurized water, sand and a host of chemicals), Denton, Texas, has been told the state will continue to issue drilling permits within the city limits."

"Senate Democrats are considering bringing legislation to the floor during the lame-duck session that would approve construction of the Keystone XL oil pipeline, according to a report in Bloomberg. The report by Bloomberg, quoting a Democratic Senate aide, said Democrats are considering the vote as part of an effort to save Sen. Mary Landrieu (D-La.)."

"Fossil fuels are reaping $550 billion a year in subsidies and holding back investment in cleaner forms of energy, the International Energy Agency said."

"Conservation groups have filed initial paperwork to sue the Tennessee Valley Authority, contending that harmful pollutants have been seeping from 55-year-old coal ash storage ponds at the Gallatin power plant and into drinking water."

"Anadarko Petroleum Corp's agreement to pay $5.15 billion to clean up nuclear fuel and other pollution received approval from a federal judge on Monday, the final hurdle for the settlement touted by the U.S. Department of Justice as the largest-ever environmental cleanup recovery."

"BP Plc has failed to persuade a federal judge to oust the administrator overseeing payouts to businesses and individuals claiming damages arising from the 2010 Gulf of Mexico oil spill."

"Despite Obama’s pledge to cut carbon emissions, production at North Antelope Rochelle mine in Wyoming is booming - and climate change is off the agenda."

"A Senate subcommittee on investigations will hold a two-day hearing when Congress returns from recess on Wall Street banks' involvement with physical commodities like oil, natural gas and metals."