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  • 13

    Cramer Amendment passes, removes FWS authority over non-federal O&G rights

    Congressman Kevin Cramer

    An amendment introduced by Congressman Kevin Cramer prohibiting implementation of a U.S. Fish and Wildlife Service (USFWS) regulation passed the House of Representatives on a voice vote around midnight.

    In February 2014,  USFWS issued an advance notice of proposed rulemaking for the “management of Non-Federal Oil and Gas Rights” rule, posted it Dec. 11, 2015, and closed comments Feb. 9 of this year, for the first time empowering itself with the authority to permit oil and gas development on federal refuges without federal ownership of the underlying mineral interests.  USFWS, in part, cited the need to update existing rules to best protect society from the potential impacts of oil and gas development on wildlife refuges.

    The Cramer Amendment ensures no funds are provided to finalize or implement the proposed rule.  Cramer took his amendment to the floor of the House late last night during debate of the Department of Interior, Environment and Related Appropriations Act of 2017.

    “Not only do state regulators have the authority and expertise to regulate non-federal minerals, they have the most obvious incentive to do it well. After all, they live where the minerals are being produced,” said Cramer, “The USFWS does not have the personnel or expertise to regulate oil and gas operations and its concerns are already being addressed by the appropriate regulatory bodies."

    The final vote on the entire Interior, Environment and Related Agencies Appropriations Act is expected by the end of the week.

  • 25

    US oil struts its market quality by trading for premium after ban repeal

    Adam Wilmoth

    Two days after President Obama last week signed the bill that repealed the country's four-decade ban on oil exports, US oil traded for more than the international standard for the first time since 2010.

    Oklahoma oilman Harold Hamm and others who have lobbied for the change say the price reversal is a sign the world sees domestic light, low-sulfur oil as superior to international oil, much of which is denser and higher in sulfur.

    “WTI is trading better than Brent, reflecting the willingness of the world market to pay for the exceptional quality of US light sweet crude,” said Hamm, chairman of the Domestic Energy Producers Alliance (DEPA). [more]

  • 25

    US market quality reflected in price

    Associated Press

    US oil is trading higher than the international standard for the first time since 2010 after President Barack Obama signed a measure last week lifting the nation's four-decade ban on oil exports, the Oklahoman reported Friday.

    Domestic oil gained 60 cents to $38.10 a barrel on Thursday while oil produced elsewhere added 53 cents to close at $37.89.

    Harold Hamm, CEO of Continental Resources, says it's a sign that the world sees domestic light, low-sulfur oil as superior to international oil, much of which is denser and higher in sulfur. [more]

  • 20

    End of oil export ban provides blueprint for bipartisan compromise

    Amy Harder & Christian Berthelsen

    Congress abolished the 40-year ban on oil exports this past week, a victory for oil companies and conservatives that few thought conceivable until recently. One thing made it possible: supporters absorbed the lessons of the Keystone XL pipeline, whose doom was sealed when it became a political battleground.

    Supporters of lifting the export ban, including oil-state Democrats, cajoled potential liberal opponents, persuading them the policy change could work in their favor. They met repeatedly with skeptical Democrats, stressing that oil prices had fallen through the floor in part due to a supply glut, so ending the ban would likely not make them soar. [more]

  • 19

    Energy executives in Oklahoma City praise congressional repeal of oil export ban

    Adam Wilmoth

    Oil and natural gas industry leaders on Friday praised the repeal of the 40-year ban on oil exports, capping a four-year effort by some producers.

    Continental Resources CEO Harold Hamm said oil exports will help domestic oil producers compete with other producing countries worldwide.

    "I think this sets the stage for recovery in our industry," he said. "It will let us build out our markets in the rest of the world. I think it's going to mean a great deal for America." [more]