American Petroleum Institute

WASHINGTON (Reuters) - President Barack Obama on Wednesday proposed to cut U.S. oil imports by a third over 10 years, a goal that eluded his predecessors and seen as extremely ambitious by analysts skeptical it can succeed.

WASHINGTON (Reuters) - President Barack Obama on Wednesday proposed to cut U.S. oil imports by a third over 10 years, a goal that eluded his predecessors and seen as extremely ambitious by analysts skeptical it can succeed.

High gas prices should spur Congress to plan for energy independence. Gas prices are soaring, and the rate at which they have increased is stunning. The average price of a gallon of regular gasoline this week was $3.56, according to the Energy Department. That's 51 cents more than it was at the turn of the New Year.In Nevada, the average price of a gallon of regular gas was $3.70, up 82 cents from a year ago, according to AAA.

The United States has called for further study on a planned multibillion-dollar pipeline to import oil from Canadian tar sands to the southern US Gulf coast, a move expected to delay the project.

WASHINGTON (Reuters) - A federal judge on Thursday ordered the Interior Department to decide in the next 30 days whether to approve five pending permits to drill in the deep waters of the Gulf of Mexico.

WASHINGTON (Reuters) - Two U.S. senators introduced legislation on Thursday to boost pipeline safety in an effort to avoid the kind of major pipeline accidents last year that destroyed homes, killed people and polluted the environment.

OPEC Secretary General has taken issue with the IEA for roiling the markets with weak data and speculation . Like death and taxes, the price of oil is always with us. And like taxes, it may be President Barack Obama's worst nightmare at election time next year.

Gas prices continue to rise, threatening to hurt the nation's recovery. The prices at the gas pump have been painful recently. Americans are paying an average of $3.10 for a gallon of regular gasoline, an increase of 44 cents over this time last year, according to the Energy Department.With the situation in the Middle East, there are predictions that gas prices will go even higher. But analysts say they don't expect a repeat of 2008, when the average price of a gallon of regular gasoline broke $4, because of different market conditions. We hope they are correct.

WASHINGTON (Reuters) - The U.S. offshore drilling chief on Thursday said he would be "stunned" if no new deepwater drilling permits were approved during the first half of year, as he pledged to push forward with reforms despite industry opposition.

WASHINGTON (Reuters) - A White House panel probing BP's massive oil spill called for an overhaul of a regulatory system that was "entirely unprepared" for disaster and outlined stringent, new oversight, a plan sure to face opposition from Republicans reluctant to expand government involvement.

WASHINGTON (Reuters) - A White House panel probing BP's massive oil spill called for an overhaul of a regulatory system that was "entirely unprepared" for disaster and outlined stringent, new oversight, a plan sure to face opposition from Republicans reluctant to expand government involvement.

LONDON (Reuters) - Oil prices fell further from 27-month highs on Wednesday as a stronger dollar sapped investor risk appetite for commodities, despite signs of tighter oil supply fundamentals.

House Republicans ask businesses: What Obama administration regulations do you want scrapped?. House Republicans are turning to their business allies as they move to scrap Obama administration programs and regulations as varied as controlling greenhouse gases, regulating the Internet and modifying home mortgages.

Oil industry wants Obama administration to expand drilling along Atlantic coast and in Alaska. The Obama administration should reconsider its decision not to pursue offshore drilling in the eastern Gulf of Mexico or along the nation's East Coast, the oil industry's chief trade group said Tuesday.

WASHINGTON (Reuters) - Congress should pass legislation, if necessary, to force the Obama administration to open more offshore areas to oil and gas exploration, the head of the American Petroleum Institute said on Tuesday.

Oil rises to near $92 in Europe as global stock market rally bolsters investor confidence. Oil prices rose to near $92 a barrel Tuesday, close to a two-year high, as a stock market rally to start 2011 boosted crude trader optimism.

WASHINGTON (Reuters) - A federal appeals court on Tuesday rejected a challenge from U.S. oil companies and refiners against the Environmental Protection Agency for retroactively imposing ethanol blending levels and volume requirements for gasoline sales.

WASHINGTON (Reuters) - The Interior Department on Monday issued guidance about its new regulatory regime for offshore drillers, responding to complaints that confusion over the agency's new policies has delayed deepwater permitting.

WASHINGTON (Reuters) - The Environmental Protection Agency said on Wednesday it was again delaying its final rule on smog limits, with the rule now expected by the end of July 2011.

WASHINGTON (Reuters) - The Environmental Protection Agency said on Wednesday it was again delaying its final rule on smog limits, with the rule now expected by the end of July 2011.