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Energy company BP says 2Q earnings fell 45 percent

BP Q2 earnings

LONDON (AP) — BP’s second-quarter earnings fell 45 percent as lower oil prices hit the British energy company. Underlying replacement cost profit, which excludes one-time items and fluctuations in the value of inventories, fell to $720 million from $1.3 billion in the same quarter a year earlier, the company said in a statement released Tuesday. BP’s net loss narrowed to ...

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AP Newsbreak: US oil, gas applications could drop 40 percent

BILLINGS, Mont. (AP) — U.S. officials say applications to drill for oil and gas on federal and Indian lands are expected to decrease 40 percent in coming years versus their historical average. The projection comes as cheap prices have curtailed domestic energy exploration, driving down state and federal revenue. The U.S. Bureau of Land Management on Thursday will announce a ...

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Cooking oil, graphene among CO2 capture prize entry ideas

coal-fired units

CHEYENNE, Wyo. (AP) — Cooking oil and graphene, a recently discovered substance stronger than steel, might seem to have little in common, but some theorize both could be made from carbon dioxide emitted by coal- and gas-fired power plants. Teams from Canada, China, Finland, India, Scotland, Switzerland and the U.S. have submitted 47 proposals for the first round of a ...

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Wind, nuclear advance as NY moves ahead with energy plan

nuclear, energy plan New York

ALBANY, N.Y. (AP) — New York state committed last year to generating half of its energy from renewable sources like wind and solar by the year 2030. Now comes the hard part: figuring out how to do it. Several big decisions in the next few weeks could fill in some of the details about how the state will meet Gov. ...

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Cities turn to local action to block oil trains

oil trains, crude by rail, Seattle

SEATTLE (AP) — As crude oil trains began rolling through its downtown a few years ago, Spokane was among the first cities to pass a resolution calling for stronger federal safety regulations. But when a mile-long train derailed in the scenic Columbia River Gorge along the Oregon-Washington border last month — after earlier passing through this major railroad hub in ...

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Sick of apartment living? Consider this…

affordable housing, UMH manufactured home

Comparing the costs of renting an apartment vs. owning a home is a very real issue for all ages today. It is hard to look at the costs of renting an apartment only to realize that the only immediate benefit is having a place to live, and there doesn’t seem to be any real long-term benefit. How is it possible ...

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10 Things to Know for Tuesday

Dem convention, Al Franken

Your daily look at late-breaking news, upcoming events and the stories that will be talked about Tuesday: 1. CLINTON CONVENTION TRIES TO END DEMOCRATIC DISUNITY Hillary Clinton’s campaign sought to squelch a political firestorm over hacked emails that deepened dissent among Bernie Sanders’ supporters, turning to some of the party’s biggest stars to heal divisions on the Democratic convention’s opening ...

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Thousands of pro-Sanders, anti-fracking marchers hit streets

Democratic National Convention, fossil fuels

PHILADELPHIA (AP) — Thousands of demonstrators took to Philadelphia’s sweltering streets Sunday, cheering, chanting and beating drums in the first major protests ahead of the Democratic National Convention, as the city wilted during a heat wave. Throngs of Bernie Sanders supporters marched down a main thoroughfare to show their support of him and disdain for Hillary Clinton ahead of the ...

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Gas prices drop 7 cents to $2.22 a gallon

gas price, gasoline, national average gas price

CAMARILLO, Calif. (AP) — The average price of gasoline has dropped 7 cents over the past three weeks to $2.22 a gallon for regular grade. Industry analyst Trilby Lundberg said Sunday lower oil prices and an abundant gasoline supply caused the decline. She says the price is 60 cents less than it was a year ago. The Lundberg Survey found ...

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US rig count up 15 last week to 462

The U.S. drilling rig count is one away from the bottom recorded in 1999. (Image courtesy of Encana Corp)

HOUSTON (AP) — The number of rigs exploring for oil and natural gas in the U.S. increased by 15 last week to 462. A year ago, 876 rigs were active. Depressed energy prices have sharply curtailed oil and gas exploration. Houston oilfield services company Baker Hughes Inc. said Friday that 371 rigs sought oil and 88 explored for natural gas last week. ...

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