Interior forced to cut mineral revenue payments to states, prompting backlash
The Interior Department has informed dozens of states that it will withhold millions of dollars in federal mineral revenue payments due to budget cuts necessitated by sequestration, a move that stunned the state of Wyoming, which receives nearly $1 billion in annual payments.
To prepare for its turn in the Arctic, ConocoPhillips stays out of rough waters
ANCHORAGE -- Earlier this month, ConocoPhillips' Arctic drilling team began real-time planning for oil exploration in Alaska's Chukchi Sea. Working from a state-of-the-art central control room in the company's downtown offices, the experts are using satellite feeds to monitor ice conditions at ConocoPhillips' Devils Paw prospect. They're tracking daily Arctic weather conditions and mapping the logistics of shipping equipment and personnel to offshore facilities. But despite the intensive activity, the company is not physically sending a drill rig to the Arctic.