Exxon Mobil Corp. yesterday became the first multinational oil giant to gamble significant capital on rapidly expanding U.S. natural gas resources, in a $31 billion deal to buy Fort Worth, Texas-based XTO Energy. The move by Exxon, which is known for taking a conservative approach to mergers and acquisitions, could further reinforce industry claims that a 100-year supply of natural gas rests under the continental United States. Go to story #1

COPENHAGEN -- When China declared it would cut emissions relative to economic growth, energy analysts applauded. Congress yawned. When China offered specific targets -- 40 to 45 percent reduction from 2005 levels -- climate experts were impressed. U.S. lawmakers raised a collective eyebrow. Now, a former U.S. senator and Clinton-era climate change negotiator is calling for the Obama administration to step up its attention to China. Go to story #2