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  • Storm leaves 170,000 without power in U.S. Gulf Coast Tuesday, 26 May 2015 | 9:42 AM ET

    May 26- Almost 170,000 homes and businesses were without power early on Tuesday from Texas to Mississippi after severe storms battered the U.S. Gulf Coast states on Monday, according to local utilities. The storms moved from west to east, hitting Texas first. Power companies in Texas said they expect to restore power to most customers later on Tuesday, but would...

  • McDermott International shares rise on rig contract Tuesday, 26 May 2015 | 8:19 AM ET

    NEW YORK— Shares of McDermott International Inc. jumped in premarket trading Tuesday after the company said it was awarded a large offshore construction contract by oil and gas giant Saudi Aramco. The stock rose 39 cents, or 8.4 percent, to $5.06 before the opening of regular trading. The Houston- based engineering and construction company will work on twelve...

  • WASHINGTON— A Supreme Court ruling due in a few weeks could wipe out health insurance for millions of people covered by President Barack Obama's health care law. But it's Republicans— not White House officials— who have been talking about damage control. A likely reason: Twenty-six of the 34 states that would be most affected by the ruling have Republican...

  • May 26- A once-popular pair trade pitting the U.S. dollar against oil prices has re-emerged in recent weeks, injecting a new wildcard into the market just as the Organization of the Petroleum Exporting Countries prepares to meet. About two weeks ago, Morgan Stanley analysts said an "uncanny" relationship has developed between the dollar index and benchmark...

  • OTTAWA, May 25- North American energy ministers said on Monday they had set up a working group on climate change and energy, a partnership designed to help Canada, the United States and Mexico harmonize policies. The agreement comes even as Canada's right-leaning Conservative government and the Obama administration clash over the lengthy and ongoing U.S....

  • Threats to 6 international flights cause scare Monday, 25 May 2015 | 12:13 PM ET

    NEW YORK— Anonymous telephone threats against commercial airliners on Monday, possibly from the same source, caused a scare involving at least six international flights at airports in New York, New Jersey and Massachusetts. In one instance Monday morning, U.S. military jets escorted an Air France flight into New York City after someone claimed a chemical...

  • WASHINGTON— A Supreme Court ruling due in a few weeks could wipe out health insurance for millions of people covered by President Barack Obama's health care law. But it's Republicans— not White House officials— who have been talking about damage control. A likely reason: Twenty-six of the 34 states that would be most affected by the ruling have Republican...

  • Ranchers in Kansas and elsewhere in cattle country are still trying to rebuild herds that were decimated in the 2012 and 2013 droughts, when they sold off much of their livestock because of shriveled pastures and skyrocketing hay prices. But in the past month, ranchers have benefited from inches of rain: Parts of Oklahoma and Texas averaged between 400 and 500...

  • WASHINGTON— If there was one thing most economists agreed on at the start of the year, it was this: Plunging oil prices would boost the U.S. economy. At $2.74 a gallon, the average price of gas nationwide is nearly $1 lower than it was a year ago. Consider what Federal Reserve Chair Janet Yellen said in December: Lower gas prices, Yellen declared, are "certainly good for...

  • LOS ANGELES— The pipeline that leaked thousands of gallons of oil on the California coast was the only pipe of its kind in the county not required to have an automatic shut-off valve because of a court fight nearly three decades ago, a county official said. The original owner of the pipeline skirted the Santa Barbara County requirement by successfully arguing in...

  • LOS ANGELES, May 22- Owners of an oil pipeline that burst in California this week must take numerous corrective measures, including an in-depth analysis of factors contributing to the spill and a plan to fix any flaws found, before they can restart the line, U.S. safety officials said on Friday. The corrective action order issued on Thursday by the U.S....

  • SANTA BARBARA May 22- Government prosecutors are investigating the company at the center of the California oil spill for possible criminal sanctions, according to the district attorney of Santa Barbara- a city that helped spawn the modern environmental movement. Perhaps one of the worst places on Earth for a crude oil leak, Santa Barbara is a beautiful...

  • HOUSTON, May 22- Hundreds of barrels of oil that gushed from a ruptured coastal pipeline in scenic California this week could stiffen opposition to large oil projects that companies want to build in the state, notably those to deliver cheap U.S. crude on trains. A leak of 100,000 barrels of crude off Santa Barbara in 1969 led to bans on new leases for offshore...

  • According to documents obtained through an open records request, the Denton Record-Chronicle reports Vantage Energy notified the city early Tuesday of its plans to begin fracking on Denton's west side, beginning next Wednesday. During last November's election, Denton voters banned fracking within the borders of the city of about 125,000 residents,...

  • The oil pipeline leak that fouled a stretch of California coastline this week reflects a troubling trend in the nation's infrastructure: As U.S. oil production has soared, so has the number of pipeline accidents. "Tick, tick, tick," said Robert Bea, a professor emeritus in civil engineering at the University of California, Berkeley. Since 1995, there have been more...

  • May 22- A small offshore oil platform caught fire in shallow water near the coast of Louisiana on Friday and a sheen was seen in the sea after workers were evacuated, officials said. All 28 workers aboard were taken from the platform, located about 20 miles east of the boot tip of Louisiana, onto a nearby supply vessel and taken ashore. It was unclear how much oil had...

  • Overall, U.S. drillers reduced the number of active rigs by just one this week, oil services company Baker Hughes Inc said. In the latest week, drillers added three oil rigs in the Niobrara basin in Wyoming and Colorado and two in the Eagle Ford in South Texas, according to the closely followed report. The Permian basin in western Texas and eastern New Mexico, the...

  • LOS ANGELES, May 22- Owners of the oil pipeline that ruptured in California this week must take numerous corrective measures, including an in-depth analysis of factors contributing to the spill, before they can restart the line, federal safety officials said on Friday. The corrective action order issued on Thursday by the U.S. Transportation Department's...

  • HAMPTON, N.H./ WASHINGTON, May 22- Hillary Clinton on Friday voiced strong support for keeping the U.S. Export-Import Bank open and accused Republican opponents who want to close the export-promoting lender of putting American jobs at risk. Some of the bank's biggest beneficiaries, including General Electric Co and Boeing Co, say closing Ex-Im will lead to the...

  • NEW YORK, May 22- Oil fell more than 1 percent on Friday as a rallying dollar and profit-taking ahead of a long U.S. holiday weekend cut short a two-day run-up in crude prices. Drillers cut the number of U.S. oil rigs in operation by just one this week, the strongest sign yet that a nearly six-month slump in activity was ending, data from oil services firm Baker Hughes...