Energy
Crude Oil Poised for Weekly Gain on Optimism About U.S. Economic Recovery Crude oil traded above $82 a barrel
in New York, poised for a weekly gain, on optimism fuel demand
will recover as China’s economic expansion accelerates.
Japan Cap-and-Trade Bill Wins Backing From Cabinet, Heads for Parliament Japan’s Cabinet has endorsed a
climate-protection draft law today that would cap industrial
emissions for the first time and thrust the second-biggest
economy into the $125 billion market for trading carbon credits.
BHP, Anglo, Xstrata Bypass Europe on 10,000-Mile Coal Route to China Ports BHP Billiton Plc, Anglo American
Plc and Xstrata Plc are shipping coal 10,000 miles to China from
their Cerrejon mine in Colombia for the first time this year
because of surging demand and rising prices in Asia.
Exxon's Tillerson Bets Natural Gas, Not Oil, Is Key to Future Growth Exxon Mobil Corp., which pumps more
oil than every member of OPEC except Saudi Arabia, Iran and
Iraq, is counting on natural gas to provide the bulk of its
future growth.
U.S. Climate Action Delay Gives More Time for Carbon Capture, AEP Says A delay in U.S. climate legislation
will give utilities time to develop systems to burn coal with
fewer carbon-dioxide emissions, said Mike Morris, chief
executive officer of American Electric Power Co., the biggest
U.S. producer of electricity from coal.
Alberta Will Reduce Oil and Gas Royalties in January to Spur Exploration Alberta, home to the largest oil
reserves outside the Middle East, said it will reduce its take
from oil and natural gas production starting next January in a
bid to spur exploration.
Chevron May Proceed With Arbitration Over Environmental Case in Ecuador Chevron Corp., the second-largest
U.S. oil company, may proceed with an arbitration stemming from
a court fight over an environmental cleanup in Ecuador that
might cost as much as $27 billion, a judge ruled.
Willbros to Acquire InfrastruX Group for $480 Million, Tap Marcellus Shale Willbros Group Inc., a century-old
U.S. pipeline builder, agreed to buy InfrastruX Group Inc. for
$480 million to expand into power-line construction and get more
business in a Northeast shale-gas formation.
BP to Pay $7 Billion for Devon's Assets in Gulf of Mexico, Brazil, Caspian BP Plc will pay Devon Energy Corp.
$7 billion for assets in Brazil, the Gulf of Mexico and
Azerbaijan, adding fields that may extend its production lead
over Exxon Mobil Corp.
Natural Gas Futures Drop to Near 16-Week Low on Ample Supply, Mild Weather Natural gas futures fell to the
lowest price in almost 16 weeks after a government report showed
supplies of the fuel will be ample during milder-than-normal
weather at the end of the heating season.
Battery Ventures Completes $750 Million Fund, Biggest So Far This Year Battery Ventures completed a $750
million venture-capital fund, the biggest so far this year,
raising money to invest in computing startups and clean-energy
deals.
China Idles 40% of Wind Turbine Production Plants, Shanghai Electric Says China is idling as much as 40
percent of its wind-turbine factories following a surge in
investment driven by the government’s renewable-energy goals,
the vice president of Shanghai Electric Group Corp. said.
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