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Tax Break Drain for Big Oil

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Obama's proposed 2014 budget includes deflated tax incentives and hiked royalty rates for the oil and gas sector

Daniel J. Weiss for the Center for American Progress: President Barack Obama’s budget proposal for fiscal year 2014 would eliminate $39 billion of special tax breaks for Big Oil companies over the next decade as part of comprehensive business tax reform. These companies earned billions of dollars in recent years due to high oil and gasoline prices and do not need additional support from......read more

Life After Fossil Fuels

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In this week's NYT Sunday Review, Elizabeth Rosenthal asks to what extent do we "need" oil and gas?

As renewable energy costs continue to plummet and buildings and machines become more and more efficient, the argument that we "need" to keep investing in fossil fuels seems weaker than ever. Countries that a couple decades ago ran on a fuel mix like America's are successfully weaning themselves off of oil and gas. According to the International Energy Agency, thirteen countries got more than 30......read more

Natural Gas: Not the Energy Answer

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Sierra Club chief Michael Brune on the energy independence conundrum

Sierra Club Executive Director Michael Brune for Huffington Post: You know what natural gas smells like. Or do you? Natural gas is actually odorless. That rotten-egg smell is added for safety reasons. Otherwise, you might not notice a potentially deadly gas leak.If only we could add a similar smell to the natural gas industry. Too many people -- especially politicians -- aren't paying attention......read more

In Australia, Wind Power is Cheaper than Fossil Fuels

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Wind energy prices undercutting coal and natural gas, according to Bloomberg report

The argument that fossil fuels are cheaper than renewable sources of energy has long been used to hold back the shift to clean power. But that's increasingly not the case. A new report about the Australian energy industry provides solid evidence that renewable energy can increasingly compete on cost with fossil fuels. The Bloomberg New Energy Finance report reveals that unsubsidized wind farms......read more

Coal Plants Shift to Natural Gas

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Bill will cleaner electricity bring higher prices?

The huge, belching smokestacks of electric power plants have long symbolized air pollution woes. But a shift is under way: More and more electric plants around the nation are being fueled by natural gas, which is far cleaner than coal, the traditional fuel. The most optimistic projections describe an abundant domestic energy source that will create enormous numbers of jobs and lead to cleaner......read more

Natural Gas Won't Solve Global Climate Woes

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It may burn cleaner than coal, but natural gas may be worse for the climate, says study

Advocates of natural gas development like to tout the fuel's environmental benefits. They argue that it burns cleaner than coal, with significantly fewer emissions. Which is true. But according to new research, switching from coal to natural gas won't do much to curb cimate change. Why? Methane leaks. Methane leaks from pipelines and wellheads are a reality of natural gas production.......read more

The Problem with Natural Gas

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New research suggests that the footprint of natural gas development is worse than coal.

Natural gas is hailed by proponents as the crucial link between dirty fossil fuels and renewable power. But two new studies, to be published this week, suggest that natural gas development may be doing more to warm the planet than burning coal. The research reports, discussed in an NYT article by Tom Zeller Jr., say that newly developed techniques for tapping natural gas reserves — such as......read more

Gas Prices on the Rise

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But Americans still pay little for fuel compared to most.

Across the country, Americans are feeling the pinch of increasing gasoline prices. The average price of a gallon of gas in the U.S. currently sits around $3.53 a gallon, up about 34 cents from 16 days ago. For what it's worth, you can blame conflict and political instability in the Middle East and North Africa for the leap.  But is our gas really expensive? Not when you take a look around......read more

Capping the Well

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Obama moves to put a lid on oil and gas subsidies.

As he discussed in the State of the Union address, President Obama intends to cut subsidies of oil and gas companies already making money hand over fist. In the new budget, set for release sometime this month, Obama calls for a $36.5 billion dollar reduction in subsidies and tax breaks for oil and gas companies, alongside substantial increases in funding for solar, wind, and geothermal energy......read more

Energy Company Increases Transparency

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US natural gas driller to disclose chemical use.

In light of the Gulf oil spill, many citizens are becoming increasingly distrustful of energy companies and the methods they employ. In a very positive step, Range Resources has decided to voluntarily disclose the chemicals that it uses in order to break through sediment and acquire natural gas. The decision comes under mounting concern from citizens who live near the natural gas extraction......read more

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