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  • Shell bows to investor pressure on climate risk Thursday, 29 Jan 2015 | 1:48 PM ET

    WASHINGTON, Jan 29- In a rare move, oil major Shell on Thursday backed a resolution proposed by activist investors to force the company to recognize climate change risks by improving its transparency. The announcement coincided with Shell saying Thursday that it would cut $15 billion in spending but continue to drill in Alaska's Arctic. South Africa's Sasol...

  • Shell says it will drill off Alaska if it can get permits Thursday, 29 Jan 2015 | 12:56 PM ET

    ANCHORAGE, Alaska— Royal Dutch Shell PLC will move forward with drilling off Alaska's northwest coast if it can obtain permits it needs and drill safely, its chief executive officer said Thursday. The announcement was consistent with what Shell officials have been saying about the upcoming summer open-water season in Alaska. Shell last drilled in Arctic...

  • LONDON, Jan 29- U.S. commercial crude oil stocks last week hit their highest level since 1931- when the opening of giant oil fields in the United States coincided with the Great Depression to create an enormous glut and sent prices tumbling to just 13 cents per barrel. In October 1929, U.S. commercial crude stocks peaked at a staggering 545 million barrels, following...

  • Remote and costly to develop, the Arctic is estimated to contain 20 percent of the world's undiscovered hydrocarbon resources and despite fierce opposition, plans for drilling north of the Arctic Circle are under way in the United States, Russia and Norway. Shell, Europe's largest energy firm, is intent on restarting its Arctic drilling campaign in Alaska's...

  • SEATTLE— A plan to allow Royal Dutch Shell PLC to use Seattle's waterfront as a homeport for its Arctic drilling fleet is drawing opposition from environmental groups that say it's not consistent with the region's environmental goals. Several state and national groups, and local city leaders on Wednesday urged the Port of Seattle to halt lease negotiations...

  • Northrim posts 4Q profit Tuesday, 27 Jan 2015 | 4:48 PM ET

    ANCHORAGE, Alaska _ Northrim BanCorp Inc. on Tuesday reported fourth-quarter profit of $6.7 million. The bank, based in Anchorage, Alaska, said it had earnings of 97 cents per share. The holding company for Northrim Bank posted revenue of $23.3 million in the period.

  • The 2017 to 2022 drilling plan begins a process that could take many years before waters off the coasts of Virginia, North Carolina, South Carolina or Georgia are cleared for drilling. The administration canceled a lease sale there after BP Plc's deadly explosion and oil spill in the Gulf of Mexico that year. In addition, President Barack Obama took parts of...

  • Juneau considers $20 million fix to sewage problem Tuesday, 27 Jan 2015 | 12:53 PM ET

    JUNEAU, Alaska— The City and Borough of Juneau is exploring options so it doesn't have to ship leftovers from its waste treatment plants to Oregon. Juneau began shipping its sewage biosolids, the leftovers from the plants, to Oregon in 2010 when the city's sewage sludge incinerator broke down beyond repair. Samantha Stoughtenger and Michele Elfers of the Public...

  • WASHINGTON— The Obama administration floated a plan Tuesday that for the first time would open up a broad swath of the Atlantic Coast to drilling, even as it moved to restrict drilling indefinitely in environmentally-sensitive areas off Alaska. The proposal envisions auctioning areas located more than 50 miles off Virginia, North and South Carolina, and...

  • ANCHORAGE, Alaska— The federal Department of the Interior will make additional areas of Arctic Ocean waters off-limits to drilling when it announces a new five-year offshore drilling plan, a member of the Alaska congressional delegation said Monday. Lisa Murkowski, R- Alaska, said she was briefed last week by federal officials who told her the Obama...

  • But if the Alaska delegation is any hint as to where things are headed, his proposal is going nowhere in a Republican-controlled Congress. Lisa Murkowski, chair of the Senate Energy committee, said the administration's plans were a "kick to the gut" that treated Alaska as if it were a "snow globe out there" that should be left untouched. There is no drilling in the...

  • "They were very prepared," said Frank Paskewich, a retired Coast Guard captain and president of Clean Gulf Associates Inc., an oil spill response cooperative. And Justice Department attorney Brandon Robers noted that his cooperative is funded by oil companies and led in part by BP. BP PLC's overall market value is $122 billion, but its lawyers have said that paying...

  • CHICAGO— With virtually no hard proof that medical marijuana benefits sick children, and evidence that it may harm developing brains, the drug should only be used for severely ill kids who have no other treatment option, the nation's most influential pediatricians group says in a new policy. Some parents insist that medical marijuana has cured their kids'...

  • Obama to seek wilderness designation for Alaska refuge Sunday, 25 Jan 2015 | 12:21 PM ET

    JUNEAU, Alaska— President Barack Obama is proposing to designate the vast majority of Alaska's Arctic National Wildlife Refuge as a wilderness area, including its potentially oil-rich coastal plain, drawing an angry response from top state elected officials who see it as a land grab by the federal government. "They've decided that today was the day that they...

  • ANCHORAGE, Alaska— When the Alaska Cooperative Extension Service published its book on growing and using fresh herbs in the Far North, dedicating it was as easy as sprinkling chives on a baked potato. "An Alaska Herb Garden" honors Barbara Fay, a self-taught gardener whose experiments with herb varieties in the harsh interior Alaska climate over 40 years was an...

  • Bill Walker for next year, the state will still face the potential of having to draw on $3.3 billion from its savings, his budget director said Friday. "This is step one," Pitney told the House Finance Committee, saying the cuts proposed are less than a quarter of the 25 percent target that Walker asked departments to look at over a four-year period.

  • $2 gasoline: Good times keep rolling at the pump Friday, 23 Jan 2015 | 1:30 PM ET

    But for the first time since 2009, most Americans are paying less than $2 a gallon. "It's crazy," says Michael Noel, an economics professor at Texas Tech University who studies oil and gasoline prices. U.S. crude oil traded Friday just below $46 a barrel and the average price for a gallon of gas was $2.04.

  • WASHINGTON— Union membership in the United States is down slightly, accounting for just over 11 percent of the workforce last year, the Labor Department reported Friday. The department's Bureau of Labor Statistics said public-sector workers have the highest union membership rate at nearly 36 percent. AFL-CIO President Richard Trumka cited "major...

  • DALLAS— Leaders of United and Southwest gave an upbeat forecast for 2015 that combined strong travel demand and cheaper fuel. Southwest Airlines Co. expects its fuel bill for 2015 to be $1.7 billion lower than in 2014. "Our earnings outlook is superb if for no other reason than fuel costs are down dramatically," said CEO Gary Kelly. Southwest's net income dropped...

  • FLAGSTAFF, Ariz.— Tribes must insist the federal government honor its commitments to them and create partnerships with them based on deference, not paternalism, the president of the National Congress of American Indians said Thursday. Congress needs to update laws and regulations on energy, taxation and education to help tribes overcome those long-standing...