President Obama's Treasury Department is facing a lawsuit filed by the Competitive Enterprise Institute for stonewalling a Freedom of Information Act request relating to plans for a carbon tax on fossil fuels.
The growing energy boom in the United States could make it the largest global oil producer by the end of the decade, temporarily exceeding Saudi Arabia, and a top exporter of natural gas, according to a new report. Released Monday, the International Energy Agency (IEA), a French research group for oil-importing nations, published data showing that by 2030, the United States will be energy self-sufficient on net and North America will become a net oil exporter.
A major fundraiser for President Obama's reelection campaign appears to be the biggest winner from a ruling by the U.S. Bankruptcy Court in Wilmington, Delaware last week in favor of an exit plan for Solyndra LLC .
The U.S. oil and natural-gas rush is hacking away at unemployment, manufacturing a total of 1.7 million jobs this year, according to a study released Tuesday by economic forecaster IHS Global Insight.
The expanding use of ethanol in U.S. oil production, prompted by government mandates that require the use of biofuel in gasoline, is escalating the price of corn while plaguing poor countries with rising food prices. Critics worldwide are now questioning the federal government’s ethanol mandates, as the use of American-produced corn for biofuel has added more than $6.5 billion to the food import bills of developing countries, particularly in North Africa and Central America.