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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 steady above $102 as Libya tensions flare

 

PABLO GORONDI, Associated Press

The price of oil was steady above $102 a barrel Tuesday as the threat of further violence in Libya threw into question the country's ability to ramp up its crude exports.

By early afternoon in Europe, benchmark U.S. crude for June delivery was up 3 cents to $102.64 a barrel in electronic trading on the New York Mercantile Exchange. On Monday, the Nymex contract added 12 cents to settle at $102.73.

The more heavily-traded July contract was up 2 cents at $102.13.

Brent crude, a benchmark for international oil, was down 4 cents to $109.33 on the ICE Futures exchange in London.

A revolt by a rogue general has split the Islamists that dominate Libya's politics and risks an outright battle for power that could fragment the country, which has Africa's largest proven reserves of crude. Libya was a key supplier of crude to European refineries but has been struggling to stabilize oil output and exports since dictator Moammar Gadhafi was ousted in 2011.

"Given that Libya is not producing more than 250,000 barrels per day, having Libya totally out would not make a big difference to current flows," said Olivier Jakob of Petromatrix in Switzerland. "But the Libyan barrels will be missed for the oil demand of the third quarter."

Investors will also be monitoring fresh information on U.S. stockpiles of crude and refined products.

Data for the week ending May 16 is expected to show a draw of 300,000 barrels in crude oil stocks and a build of 150,000 barrels in gasoline stocks, according to a survey of analysts by Platts, the energy information arm of McGraw-Hill Cos.

 

 

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