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Federal judge allows suit over groundwater contamination to proceed
Maryland’s lawsuit to redress the contamination of its waters with a gasoline additive can proceed after a federal judge denied the majority of motions to dismiss. U.S. District Judge Ellen L. Hollander ruled on multiple motions to dismiss on Sept. 4. She issued a revised opinion Monday after being notified that her 86-page opinion had been selected for […]
Obama opens East Coast to oil search
The Eastern Seaboard is being opened to offshore oil and gas exploration for the first time in decades with the Obama administration's approval Friday of sonic cannons that can pinpoint energy deposits deep beneath the ocean floor.
Calling oil something else, companies find ways to increase exports
Companies are taking advantage of new ways to export oil from the U.S. despite government restrictions, and in the process helping the U.S. become an ever bigger exporter of petroleum on the world stage.
Factory orders down 4 percent in March
WASHINGTON — Orders to U.S. factories fell in March by the largest amount in seven months, but a key category that signals business investment plans increased. Factory orders dropped 4 percent in March, reflecting a big plunge in the volatile category of commercial aircraft, the Commerce Department reported Friday. Orders had been up 1.9 percent […]
Wholesale companies cut inventories but sales rise
WASHINGTON — Wholesale businesses in the U.S. reduced their stockpiles in September for the first time in nearly two years, while their sales rose. Inventories at the wholesale level fell 0.1 percent, the Commerce Department said Wednesday. It was the first decline since December 2009. The drop was largely because companies cut their stockpiles of […]
Sunoco to sell refineries
NEW YORK — Sunoco Inc. says it’s getting out of the refining business. The Philadelphia company, which owns two refineries in Pennsylvania, says refining oil into gasoline and other fuels has yielded disappointing returns. It plans to sell those refineries and focus on its retail and logistics business. Oil refining is only profitable when a […]
Oil giant ConocoPhillips to split into 2 companies
NEW YORK — ConocoPhillips, the third-largest U.S. oil company, said Thursday that it will split itself into two separate publicly traded companies and its CEO and Chairman Jim Mulva plans to retire once the transaction is complete. The breakup would create the largest independent refiner in the world, a prominent analyst said. Its shares jumped […]
Sales of wholesale goods slip in February
WASHINGTON — Wholesale businesses boosted inventories for the 14th consecutive month but sold fewer cars, pieces of furniture and petroleum products in February, the first decline in 20 months. Sales at the wholesale level slipped 0.8 percent in February, the first setback since June 2009, the Commerce Department reported Friday. Inventories rose 1 percent and […]
Wholesalers see their biggest sales jump in 14 months
WASHINGTON — Businesses at the wholesale level added to their stockpiles in January and their sales jumped by the largest amount in 14 months. But the spike in sales was partially influenced by rising oil prices. Wholesale inventories rose 1.1 percent in January, the Commerce Department said Wednesday. It was the 12th gain in 13 […]
Wholesale inventories and sales rise in January
WASHINGTON — U.S. businesses at the wholesale level added to their stockpiles in January and their sales jumped by the largest amount in 14 months. But the spike in sales was partially influenced by rising oil prices. Wholesale inventories rose 1.1 percent in January, the Commerce Department said Wednesday. It was the 12th gain in […]
