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Obama calls for offshore drilling in Southeast

WASHINGTON — The Obama administration on Tuesday outlined a politically fraught plan for allowing oil and gas drilling offshore along parts of the Atlantic coast while imposing new restrictions on environmentally fragile waters off northern Alaska.

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Two from Fort Worth appointed by Gov. Abbott to university boards

Steve Hicks, a University of Texas System regent who has been a vocal opponent of regents who have criticized the system’s flagship campus in Austin, was reappointed to the board by Gov. Greg Abbott on Thursday. 

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Fort Worth draws closer to deal with Lancaster developer

City staff are planning to introduce the developer Feb. 3 at a meeting of the City Council's Housing and Economic Development Committee.

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Museum District: Area’s evolution creating more interaction, public spaces

Fifteen years ago if someone had shot a cannon from Fort Worth’s world-renowned museum district, nobody would have noticed, joked Lori Eklund, senior deputy director of the Amon Carter Museum of American Art. But that has changed.

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Energy Transfer Partners, Regency Energy announce $18B merger

Energy Transfer Partners LP of Dallas and Regency Energy Partners LP have entered into a definitive merger agreement.

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Oil near $97 after rise in US gasoline supplies

The Associated Press

Oil prices continued to drop Thursday after the U.S. government reported a large buildup in supplies of gasoline and diesel.

Benchmark U.S. oil for January delivery was down 7 cents to $97.37 in electronic trading on the New York Mercantile Exchange.

The contract fell $1.07 to close at $97.44 on Wednesday after the U.S. Energy Department's report on supplies. Anticipation of a fall in supplies had earlier driven prices up to a six-week high.

Gasoline supplies rose by 6.7 million barrels, the Energy Department said, while distillate supplies including diesel increased by 4.5 million barrels in the week ended Dec. 6.

Both increases were more than three times what analysts were expecting, raising the possibility that refiners would slow production and purchases of oil in the coming weeks.

The fuel increases overshadowed a huge decline in crude oil supplies of 10.6 million barrels.

Brent crude, a benchmark for international oils, was up 4 cents at $109.74 a barrel on the ICE exchange in London.

In other energy futures trading on Nymex:

— Wholesale gasoline was flat at $2.66 a gallon.

— Heating oil barely budged at $3.02 a gallon

— Natural gas rose 2.9 cents to $4.366 per 1,000 cubic feet.

 

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