SEATTLE - The Seattle City Council on Tuesday voted to cut ties with banking giant Wells Fargo over its role as a lender to the Dakota Access pipeline project as well as other business practices. The crowd erupted in cheers and chanted "water is life" when the council unanimously passed the measure, which directs officials to end the city's contract with the San Francisco-based bank once it expires in 2018 and not to make new investments in Wells Fargo securities for three years. [Read more]
What’s next for the Dakota Access, Keystone XL pipelines?
BISMARCK, N.D. - President Donald Trump's executive actions on the Dakota Access and Keystone XL pipelines are aimed at turning the much-protested pipelines into reality. Here's a look at what may be next for the two pipelines: WHAT THEY ARE AND WHERE THEY STOOD BEFORE TUESDAY The $3.8 billion Dakota Access pipeline to carry North Dakota oil through South Dakota and Iowa to a shipping point in Illinois is nearly complete, except for a stretch underneath Lake Oahe, a Missouri [Read more]
Trump signs orders advancing Keystone, Dakota pipelines
WASHINGTON - President Donald Trump moved to advance construction of the Keystone XL and Dakota Access oil pipelines Tuesday, a pair of projects that were blocked by the Obama administration due in part to environmental concerns. Both orders are subject to renegotiations of the agreements. Trump also signed a notice requiring the materials for the pipelines to be constructed in the United States, though it was unclear how he planned to enforce the measure. "From now we are going [Read more]
OPEC, allies says production cuts ahead of schedule
VIENNA - OPEC and key non-OPEC oil producers seeking to push up the price of crude by cutting production say participants appear to be exceeding pledges to reduce output. Russia and 10 other nations outside OPEC agreed with the 13 members of the Organization of the Petroleum Exporting Countries in December to take a total of 1.8 million barrels of oil a day from the global market within the first half of this year. Russian energy minister Alexander Novak says participants already [Read more]
Global oil production dropping as OPEC cuts kick in
PARIS - The International Energy Agency says global oil output is dropping for the first time in months, as Saudi Arabia and other oil-producing countries follow through on pledged cuts aimed at lifting oil prices. The IEA's monthly report says Thursday that OPEC production dropped to 33.09 million barrels a day in December from 34.2 million the previous month. The first such drop in seven months, it's attributed to lower Saudi output and disruptions in Nigeria. The IEA says "a [Read more]
Federal study on Dakota Access pipeline to move forward
BISMARCK, N.D. - A federal judge said Wednesday he won't keep the U.S. Army Corps of Engineers from launching a full environmental study of the $3.8 billion Dakota Access pipeline's disputed crossing under a Missouri River reservoir in North Dakota. U.S. District Judge James Boasberg denied Texas-based Energy Transfer Partners' request to stop the Corps from proceeding until he rules on whether the company already has the necessary permission to lay pipe under Lake Oahe, the water source [Read more]
Dakota Access company seeks to block pipeline study
BISMARCK, N.D. - The company building the Dakota Access oil pipeline wants a federal judge to block the U.S. Army Corps of Engineers from launching a full environmental study of the $3.8 billion pipeline's disputed crossing of a Missouri River reservoir in North Dakota. Texas-based Energy Transfer Partners asked U.S. District Judge James Boasberg on Tuesday to stop the Corps from publishing a notice in the Federal Register announcing the study. Boasberg scheduled a hearing for Wednesday. [Read more]
From Trump and his new team, mixed signals on climate change
WASHINGTON - He brushed off climate change as a Chinese hoax, then called it the real deal and finally declared that "nobody really knows." Donald Trump is sending mixed signals on whether or how he will try to slow Earth's warming temperatures and rising sea levels. Since he was elected, Trump has met with prominent climate activists Al Gore and Leonardo DiCaprio. He's suggested his daughter Ivanka, a close adviser, has a particular interest in the issue and could be his envoy. But he [Read more]
Donald Trump picks Rex Tillerson to lead State Department
NEW YORK - President-elect Donald Trump has tapped ExxonMobil CEO Rex Tillerson to lead the State Department, dismissing concerns about the businessman's close ties to Russia and bringing a long public audition process to a conclusion. Two people close to Trump's transition team said Monday night that Trump had selected Tillerson. They insisted on anonymity because they were not authorized to disclose the pick ahead of that announcement. Trump was set to announce his nomination [Read more]
Non-OPEC oil producers to cut output 558,000 barrels a day
VIENNA - OPEC has persuaded 11 non-member countries to cut their oil production in an attempt to raise low prices that have put pressure on government finances in resource-dependent countries. Qatari Energy Minister Mohammed bin Saleh al-Sada said Saturday that non-members agreed to cut 558,000 barrels per day, less than the 600,000 OPEC had hoped for. Those non-member cuts would come on top of an OPEC decision Nov. 30 to reduce member output by 1.2 million barrels a day. [Read more]
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