Saudi Arabia is slashing oil supply By DAVID McHUGH AP Business Writer FRANKFURT, Germany (AP) — Saudi Arabia will reduce how much oil it sends to the global economy, taking a unilateral step to prop up the sagging price of crude after two previous cuts to supply by major producing countries in the OPEC+ alliance failed to push oil higher. …

ALBUQUERQUE, N.M. (AP) — More than 200 inactive oil and natural gas wells in New Mexico have been plugged as land managers have tried to crack down on producers as part of an accountability and enforcement program in one of the top producing states in the U.S., officials said Wednesday. The State Land Office estimates it has saved taxpayers at …

By SETH BORENSTEIN AP Science Writer A new National Academy of Science study says that 13 years after a massive BP oil spill fouled the Gulf of Mexico, regulators and industry have reduced some risks in deep water exploration in the gulf but some troublesome safety issues persist. Tuesday’s report says that federal inspectors are relatively powerless over contractors on …

By MATTHEW DALY Associated Press WASHINGTON (AP) — House Republicans on Thursday approved a sprawling energy package that seeks to undo virtually all of President Joe Biden’s agenda to address climate change. The legislation would sharply increase domestic production of oil, natural gas and coal, and ease permitting restrictions that delay pipelines, refineries and other projects. It would boost production …

By MATTHEW DALY Associated Press WASHINGTON (AP) — In a sign of a deepening rift among Democrats on energy issues, conservative Democratic Sen. Joe Manchin says he will not move forward on President Joe Biden’s nominee to oversee oil and gas leasing at the Interior Department. Manchin, of West Virginia, chairs the Senate Energy and Natural Resources Committee and has …

EDC of Lea County celebrates 60 years Jennifer Grassham/EDC president It was the year the computer mouse, push-button telephone, and cassette tapes arrived on the scene. The US Postal Service announced ZIP codes, The Avengers comic was first published, and a new car company, Lamborghini, was founded and debuted its first prototype 350 GTV automobile.   1963 was also the …

By CATHY BUSSEWITZ AP Energy Writer NEW YORK (AP) — The doors of a metal box slide open, and a drone rises over a gas well in Pennsylvania. Its mission: To find leaks of methane, a potent greenhouse gas, so that energy companies can plug the leaks and reduce the emissions that pollute the air. The drone is among an …

CURTIS C. WYNNE/NEWS-SUN Keeping the No. 1 spot among the nation’s counties, Lea County hit the record books again, logging almost 32 million barrels of crude oil in October.  That’s a little more than a million barrels a day. With a lion’s share of county revenue coming from the oil and gas industry, County Finance Director Chip Low tracks the …

By AAMER MADHANI Associated Press WASHINGTON (AP) — President Joe Biden said Tuesday there will be “consequences” for Saudi Arabia as the Riyadh-led OPEC+ alliance moves to cut oil production and Democratic lawmakers call for a freeze on cooperation with the Saudis. Biden suggested he would soon take action, as aides announced that the administration is reevaluating its relationship with …

Curtis Wynne/News-Sun After almost three years, Lea County still leads all other counties in the nation with active oil rigs, surpassed only by two whole states — New Mexico and Texas. Adding six rigs in the week before Sept. 23, according to data published by oil field services company Baker Hughes, Lea County had a total of 71 active rigs, …