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Anadarko Execs Buy up Depressed Stock After Lethal Colorado Explosion

Anadarko stock prices going down

Buy low, sell high. It's a maxim taught to stock traders from day one and one which Anadarko Petroleum's upper-level management seems to have taken to heart in the aftermath of the April gas line explosion that blew up a Colorado home, leaving two dead and one badly injured. 

Since the explosion, five members sitting on either Anadarko's board of directors or executive officer team have purchased a combined $2.6 million worth of company stock, totaling over 46,700 shares, according to data on InsiderInsights.com and first reported by investor analyst site SeekingAlpha.com. Anadarko's stock price has fallen nearly $10 per share since the April 17 blast.

However, the trouble may have just begun for the Texas-based company at the center of Colorado's hydraulic fracturing (“fracking”) boom. On May 25, an Anadarko oil well exploded just a few miles from the mid-April gas line explosion site. That incident, also in Firestone, Colorado, left one dead and three others injured.

Trump’s Budget Delivers Big Oil’s Wish: Reducing Strategic Petroleum Reserve

Aerial view of three large crude oil storage tanks as part of the Strategic Petroleum Reserve

President Donald Trump's newly proposed budget calls for selling over half of the nation's Strategic Petroleum Reserve (SPR), the 687 million barrels of federally owned oil stockpiled in Texas and Louisiana as an emergency energy supply. 

While most observers believe the budget will not pass through Congress in its current form, budgets depict an administration's priorities and vision for the country. Some within the oil industry have lobbied for years to drain the SPR, created in the aftermath of the 1973 oil crisis.

Leading the way has been ExxonMobil, which lobbied for congressional bills in both 2012 and 2015 calling for SPR oil to be sold on the private sector market. The Trump administration says selling off oil from the national reserve could generate $16.58 billion in revenue for U.S. taxpayers over the next 10 years.

Rover Pipeline Owner Disputing Millions Owed After Razing Historic Ohio Home

Rover pipeline about to be laid underground next to a home in Ohio

After taking heat last fall for destroying sacred sites of the Standing Rock Sioux Tribe, the owner of the Dakota Access pipeline finds itself embattled anew over the preservation of historic sites, this time in Ohio.

Documents filed with the Federal Energy Regulatory Commission (FERC) show that Energy Transfer Partners is in the midst of a dispute with the Ohio State Historic Preservation Office over a $1.5 million annual payment owed to the state agency as part of a five-year agreement signed in February.

Energy Transfer Partners was set to pay the preservation office in exchange for bulldozing the Stoneman House, a historic home built in 1843 in Dennison, Ohio, whose razing occurred duing construction of the Rover pipeline. Rover is set to carry natural gas obtained via hydraulic fracturing (“fracking”) from the Utica Shale and Marcellus Shale — up to 14 percent of it — through the state of Ohio. The pipeline owner initially bulldozed the historic home, located near a compressor station, without notifying FERC, as the law requires.

How Exxon Lobbyists Led Push to Deepen US Ports and Increase Natural Gas Exports

LNG port

The U.S. has signed a major deal with China to ship liquefied natural gas (LNG) to Asia, adding further momentum to America's hydraulic fracturing (“fracking”) boom.

The deal, which includes the export of other commodities from the U.S. to China, was signed about a month after President Donald Trump met with Chinese President Xi Jinping. Much of the LNG in this deal will move across a recently expanded Panama Canal, offering a fast-track route to Asia for larger vessels, an expansion for which the oil and gas industry lobbied.

A DeSmog investigation has revealed that expanding the Panama Canal was part of a two-part process, which included an oil and gas industry push to deepen ports in the Gulf of Mexico as well. Emails obtained under the Texas Public Records Act show that lobbyists for ExxonMobil were leading this effort.

After Years-Long Push, Fracking Has Quietly Arrived in Alaska

Hydraulic fracturing's horizontal drilling technique has enabled industry to tap otherwise difficult-to-access oil and gas in shale basins throughout the U.S. and increasingly throughout the world. And now “fracking,” as it's known, could soon arrive at a new frontier: Alaska.

As Bloomberg reported in March, Paul Basinski, a pioneer of fracking in Texas' prolific Eagle Ford Shale, has led the push to explore fracking's potential there, in what's been dubbed “Project Icewine.” His company, Burgundy Xploration, is working on fracking in Alaska's North Slope territory alongside the Australia-based company 88 Energy (formerly Tangiers Petroleum).

“The land sits over three underground bands of shale, from 3,000 to 20,000 feet below ground, that are the source rocks for the huge conventional oilfields to the north,” wrote Bloomberg. “The companies’ first well, Icewine 1, confirmed the presence of petroleum in the shale and found a geology that should be conducive to fracking.”

Wisconsin Senate Passes Koch-Backed REINS Bill That Would Benefit Koch, Other Polluters

In Wisconsin, a Koch Industries–backed group recently moved closer toward a major legislative victory, with an anti-regulations bill it has pushed for years passing in the Wisconsin Senate.

That bill, the REINS (Regulations from the Executive in Need of Scrutiny) Act, passed 19-14 as SB 15. It mandates that if a proposed rule causes “$10 million or more in implementation and compliance costs” over a two year period, that regulation must either be rewritten or discarded. Before taking effect, it still has to pass an Assembly vote and get the signature of Republican Governor Scott Walker

The Wisconsin version of REINS has moved in parallel to a federal version moving through Congress, also called the REINS Act. It too has been pushed for years by the Koch-funded network, which passed in January in the U.S. House of Representatives and now awaits a Senate vote. The federal version has the backing of President Donald Trump.

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