US Sens. Bob Corker (R-Tenn.) and Joe Manchin (D-W.Va.) introduced legislation on May 16 aimed at correcting what they said was unintentional subsidization of foreign ethanol imports under the federal Renewable Fuels Standard.

The world’s Arctic nations formally agreed to cooperate on marine oil pollution preparedness and response at the Arctic Council’s May 15 meeting in Kiruna, Sweden.

Oil prices continued rising with the front-month crude contract up 0.9% in the New York futures market May 16 despite a report from the US Department of Labor showing a rise in claims for unemployment benefits, stimulating worries about economic recovery.

The US Department of the Interior released a revised proposal to regulate hydraulic fracturing on public and Indian lands that it said would maintain important safety standards, improve integration with existing state and tribal rules, and increase flexibility for oil and gas producers.

US Rep. Cynthia Lummis (R-Wyo.) introduced legislation to ensure states that normally receive half of federal onshore oil and gas royalties under the Mineral Leasing Act actually receive the money.

The US Bureau of Land Management’s Rock Springs, Wyo., field office began a 30-day public scoping period on May 6 before it prepares an environmental assessment of Devon Energy Production Co. LP’s proposal to develop up to 20 new oil and gas wells within the Horseshoe basin unit.

Front-month crude managed a minimal gain May 15 after four sessions of price declines in the New York market. Natural gas continued its increase, up 1%.