An article in today's Shreveport Times discusses the initial production results of Bossier Shale formation, and the findings are encouraging enough that it is expected to become a major player in U.S. natural gas development. The first Bossier Shale well was drilled in August flowed at 9.4 million cubic feet per day.

Today, the Senate's Energy and Natural Resources Committee held a hearing concerning environmental stewardship policies related to offshore energy production. (Watch the archive Webcast of the hearing).

October U.S. crude oil production averaged 5.36 million barrels per day, continuing at levels not seen since 2005, according to API's Monthly Statistical Report.

Crude production from the Lower 48 states averaged 4.67 million barrels per day, up from both last year and prior months. And Alaskan output, at 696,000 barrels per day, slipped from last October by 2.8 percent but rebounded from this summer's lows of less than 600,000 barrels per day.

In this episode, I interview Bob Stallman, president of the American Farm Bureau, on the potential impact of climate change legislation on agriculture.

Late last week, the Minerals Management Service (MMS) announced that they will shorten lease sale terms on nearly 36 million acres in the Gulf of Mexico off the coasts of Louisiana, Mississippi and Alabama.

The proposed plan would set five-year terms for leases in water depths of 1,300 to 2,600 feet, instead of the standard eight-year term. Leases in water depths between 2,600 and 5,200 feet would run for seven years instead of 10.