Subscribe free to our newsletters via your
. Oil and Gas News .




OIL AND GAS
House leaders says gas prices would drop through their measure
by Daniel J. Graeber
Washington (UPI) Jun 20, 2013


API: Oil imports for May were lowest in years
Washington (UPI) Jun 20, 2013 - Crude oil imports into the U.S. market are at their lowest levels since the 1990s, the American Petroleum Institute said.

API said total imports for May, the last full month for which data are available, averaged just under 9.6 million barrels per day, which is 4.5 percent less than the same time last year. That's the lowest level for May since 1995.

"Last month saw a continuation of recent trends, with strong demand and even stronger production resulting in falling import levels," API Chief Economist John Felmy said in a statement.

The U.S. Energy Information Administration said in its weekly petroleum report the United States imported on average 7.2 million bpd for the week ending June 13, which is up 88,000 bpd from previous week. Long-term trends, however, show a general import decline.

On the production side, API said the United States produced 8.3 million bpd in May, the highest level for the month since 1987.

Petroleum deliveries, a measure of demand, rose 1.9 percent in May, the highest level for the month in six years.

Members of the House of Representatives said U.S. consumers would pay less at the pump if a bill in support of expanded domestic energy production passed.

Rep. Doc Hastings, R-Wash., chairman of the House Natural Resources Committee, and 12 other House Republicans introduced legislation they say would lower U.S. retail gasoline prices.

"By unlocking our nation's own resources we can put over a million Americans back to work, breathe new life into our economy, and lower gasoline prices for American families and businesses," he said in a statement Thursday.

Hastings' measure calls for access to energy reserves off the Atlantic coast, the National Petroleum Reserve-Alaska and aims to do away with what he says are unnecessary delays in the bidding process for oil and gas acreage.

The House measure follows a bill introduced Wednesday by U.S. Sens. Bob Corker, R-Tenn., and Chris Murphy, D-Conn., that would raise the federal gasoline tax, which has remained static since 1993.

Gasoline is taxed at 18.4 cents per gallon, and diesel is taxed at 24.4 cents per gallon. The Senate proposal would increase both rates by six cents in each of two years for a total of 12 cents on the gallon.

Their measure aims to generate revenue for the federal highway system.

.


Related Links
All About Oil and Gas News at OilGasDaily.com






Comment on this article via your Facebook, Yahoo, AOL, Hotmail login.

Share this article via these popular social media networks
del.icio.usdel.icio.us DiggDigg RedditReddit GoogleGoogle




Memory Foam Mattress Review
Newsletters :: SpaceDaily :: SpaceWar :: TerraDaily :: Energy Daily
XML Feeds :: Space News :: Earth News :: War News :: Solar Energy News





OIL AND GAS
China to relocate some workers in oil supplier Iraq: ministry
Beijing (AFP) June 19, 2014
China is to relocate some workers in Iraq - where it is the biggest foreign investor in the oil industry - in the face of spreading violence, the foreign ministry said Thursday. Militants from the jihadist group the Islamic State of Iraq and the Levant (ISIL) have captured vast amounts of Iraqi territory in a lightning offensive that is entering its second week, prompting major internation ... read more


OIL AND GAS
Japan plans carbon offset scheme with India: report

How Much Energy Will the 2014 World Cup Consume?

US invests in technology to make electric grid more secure

Report Estimates Costs and Benefits of Compliance with Renewable Portfolio Standards

OIL AND GAS
Charging Portable Electronics in 10 Minutes

Coal consumption highest since 1970

Funky ferroelectric properties probed with X-rays

Magnetic cooling enables efficient, 'green' refrigeration

OIL AND GAS
Genome could unlock eucalyptus potential for paper, fuel and fiber

More than just food for koalas -- eucalyptus -- a global tree for fuel and fiber

EU agrees plan to cap use of food-based biofuels

York scientists provide new insights into biomass breakdown

OIL AND GAS
Japan minister apologises for Fukushima money gaffe

Nuclear waste dump plan on Aboriginal land abandoned

AREVA awarded a contract to provide services for Kozloduy 5 and 6 VVER nuclear reactors

AREVA to provide additional modernization services for Gosgen Facility in Switzerland

OIL AND GAS
Struggling climate talks look to UN summit for push

Climate change beats biodiversity as a priority

Minimum CO2 price of $32 needed to curb warming: study

Obama renews climate change push

OIL AND GAS
Global automakers split on 'green car' strategy

Tesla gives up patents to 'open source movement'

European taxis cause chaos in app protest

Elon Musk: 'We could definitely make a flying car'

OIL AND GAS
Iraq appeals for US air strikes on advancing militants

US sees signs Iraqi forces 'stiffening' resistance

Fighting nears Baghdad as UN warns of Iraq break-up

Saudi press blames Iraq PM's 'sectarianism' for unrest

OIL AND GAS



The content herein, unless otherwise known to be public domain, are Copyright 1995-2014 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. Privacy Statement All images and articles appearing on Space Media Network have been edited or digitally altered in some way. Any requests to remove copyright material will be acted upon in a timely and appropriate manner. Any attempt to extort money from Space Media Network will be ignored and reported to Australian Law Enforcement Agencies as a potential case of financial fraud involving the use of a telephonic carriage device or postal service.