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Oil industry falls out of love with Trump

Oil and Gas fall out of love with TrumpThe oil and gas industry’s relationship with President Donald Trump is cooling off.

The administration’s 25 percent steel tariff, hostility toward NAFTA and fumbled efforts to lift restrictions on drilling are worrying executives, who have praised the president’s war on regulations but loathe uncertainty and nationalistic trade policies.

The tariff was a source of angst at a major energy industry conference this week in Houston. Executives fretted that higher steel prices could stifle projects needed to help the U.S. — the world’s biggest oil and gas producer — feed the global thirst for energy as a rising force in the export markets.

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Watchdog: Texas company illegally charged Energy Dept. $2.5 million in expenses

Summitt Texas Clean Energy charged illegal fees to US gov.t

A government watchdog has found that a Texas energy company likely charged the Department of Energy $2.5 million in extraneous expenditures ranging from spa services to lobbying costs.

The Energy Department's Office of Inspector General identified more than $2.5 million in expenses Summitt Texas Clean Energy charged to project that they considered potentially unallowable, according to an inspector general report released Feb. 8.

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Emergency official: 5 missing after Oklahoma rig explosion

Oklahoma rig explosionFive people are missing after a fiery explosion ripped through an eastern Oklahoma drilling rig Monday morning, sending plumes of black smoke into the air and leaving a derrick crumpled on the ground, an emergency official said.

Pittsburg County Emergency Manager Director Kevin Enloe told television station KOTV that at least three medical helicopters landed at the site following the explosion. He said five people were missing.

Aerial footage from midday Monday showed several fires still burning at the site and the derrick, a towering metal structure above the well, collapsed onto the ground.

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Wholesale energy prices dip below zero because of California’s solar power

Solar power in CaliforniaSolar power shines bright in California, and wholesale energy prices prove it. Last winter and early spring’s dependence on solar drove wholesale energy prices to negative prices, according to the U.S. Energy Information Administration.

Solar power in the California Independent System Operator accounted for nearly 40% of net grid power for three hours on March 11, 2017, the administration reports —a major first.

These figures don’t translate for the consumer into retail prices, which are based on averages. But the move will likely cause energy companies to pay more attention to green energy options.

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Nuclear reactor at Indian Point plant in N.Y. shut down again after leak found

Indian Point reactor leakOne of two reactor units at a nuclear power plant near New York City has been taken offline for the second time in four months after leakage was found in a pipe that pumps water into the facility, officials said Friday.

Reactor Unit 2 at the Indian Point Energy Center in Buchanan, N.Y., was shut down Thursday after discovery of the malfunction. Officials said the leak was found in a non-radioactive part of the plant.

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Portugal runs for four days straight on renewable energy alone

Portugal runs four days on renewable energyPortugal kept its lights on with renewable energy alone for four consecutive days last week in a clean energy milestone revealed by data analysis of national energy network figures.

Electricity consumption in the Iberian country was fully covered by solar, wind and hydro power in an extraordinary 107-hour run that lasted from 6.45am on Saturday 7 May until 5.45pm the following Wednesday, the analysis says.

News of the zero emissions landmark comes just days after Germany announced that clean energy had powered almost all its electricity needs on Sunday 15 May, with power prices turning negative at several times in the day – effectively paying consumers to use it.

TVNL Comment:  Why, just why, are we always behind other countries in so many things?  Just asking...

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Big Banks Aided Firm At Center Of International Bribery Scandal

Big BanksNo business can operate without bankers — not even the bribery business.

British financial giant HSBC and American bailout kingpin Citibank processed transactions, managed money and vouched for Unaoil, a once-obscure firm that is now at the center of a massive international corruption scandal. Police raided Unaoil’s Monaco offices and interviewed its executives on Thursday, a day after The Huffington Post and Fairfax Media first exposed the company’s practices. Law enforcement agencies in at least four nations are involved in a wide-ranging probe of the company and its partners.

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