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US pharmaceutical spending slightly down from 2012 levels

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Expenditure on pharmaceuticals in 2013 is predicted to register a minor decline of 0.5% dipping to $341.2 billion from $343 billion in 2012.
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US scientists develop quick method to convert algae into crude

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The technology developed by the Department of Energy's Pacific Northwest National Laboratory produces crude at a fraction of the cost of other methods and efficiently makes use of all byproducts.
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US organic food market to see rapid growth

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The United States is already the world's largest organic food market and it is predicted to expand quite dramatically over the next few years.
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Total to invest $21 million in UK shale gas exploration

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French oil and gas company Total will obtain a 40% interest in two shale gas exploration licenses in Lincolnshire, under an agreement with British energy firm IGas Energy.
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ITT Corp. to receive compensation after patent infringement settlement

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The settlement follows a lawsuit that ITT and Goulds Pumps launched in 2012 in federal court against Wisconsin-based Summit.
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ExxonMobil launches new capacity at Singapore chemical plant

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U.S. energy company ExxonMobil has announced the opening of its expanded chemical plant in Singapore that will be able to process crude oil, as well as other commodities.
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Fracking companies in California ordered to report offshore chemical discharges

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The new regulation will apply only to new drilling activities on about 20 platforms situated in federal waters close to the Santa Barbara coast.
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Chemical spill contaminates drinking water in nine West Virginia counties

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West Virginia Governor Earl Ray Tomblin announced a state of emergency in nine counties on Thursday, Jan. 9, after a chemical spill that contaminated the Elk River resulted in a water ban estimated to affect about 200,000 customers of the West Virginia American Water utility.
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Global crude oil demand to increase in 2014

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This rise in consumption is attributed to demand from countries outside of the Organization for Economic Cooperation and Development, led by China.
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US crude oil export ban should be lifted, Chamber of Commerce says

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The pressure on the federal government to lift the ban on U.S. crude oil exports is building, after the U.S. Chamber of Commerce joined the long list of industry groups, trade bodies and organizations that are demanding an end to the restriction.
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