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Tag Archives: Oil Industry

UTSA study: a $14.5 billion Permian Basin impact

permian basin

San Antonio — A new study estimates that the oil and gas industry had a $14.5 billion impact last year on the Cline Shale region, east of the traditionally busier drilling area of the Permian Basin. The University of Texas at San Antonio’s Institute for Economic Development looked at a 10-county area and found the industry last year supported 21,450 ...

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Billionaire Tom Steyer to push California lawmakers for oil -extraction tax

Tom Steyer

Tom Steyer, a Bay Area hedge fund billionaire with two ballot-measure victories under his belt, is throwing his weight behind a new cause: an oil-extraction tax. NextGen Climate Action, a political advocacy group Steyer founded, announced Monday it’s launching a public awareness campaign and messaging blitz urging the Legislature to tax oil as it’s taken from the Golden State’s ground. ...

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Daunting days ahead as Mexico readies oil opening

MEXICO CITY (AP) — Mexico’s sweeping away of seven decades of nationalist protections and letting foreign companies back into its oil fields is crucial to bringing the expertise and money needed to rejuvenate its sclerotic energy industry, supporters say. But even after the strong approval given by both houses of Congress this week, skeptics ask whether Mexico has the ability ...

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Mexican Congress passes radical shake-up of oil industry

MEXICO CITY (Reuters) – Mexico’s Congress on Thursday overwhelmingly voted to open up the country’s oil and gas sector to private investment in the biggest overhaul of the industry since it was nationalized in 1938. After a whirlwind final passage through Congress, President Enrique Pena Nieto’s bill will offer companies the chance to operate oil wells, commercialize crude and partner ...

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California said to be poised for oil boom – maybe

california

To hear the oil industry tell it, California stands poised for an economic boom. Development of the Monterey Shale, a vast geologic formation that could hold 15.4 billion barrels of oil, will flood the state with new jobs and tax revenue, according to the industry and its allies. They’ve used that argument as an effective shield against environmentalists bent on ...

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Iran oil minister in talks with western energy firms: FT

Nuclear power

DUBAI (Reuters) – Iran has begun talks with potential investors in its energy industry, oil minister Bijan Zanganeh told the Financial Times, after Tehran struck a nuclear deal that may help western oil giants move back into the country someday. Iran is home to some of the world’s largest oil and gas reserves, but U.S. energy firms have been barred ...

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