BP pays $50 million fine to OSHA for the 2005 deadly Texas City Refinery explosion, new data released by the EIA that shows energy consumption levels increasing over time, and the Asian Development Bank allocating another $1 billion for renewable energy investments.

BP and US Occupational Safety and Health Administration (OSHA) have agreed to resolve certain issues related to a deadly explosion at the Texas City Refinery in 2005. BP will pay $50.6 million to OSHA as part of the settlement and will allocate up to $500 million to implement better safety measures and inspections.  BP has already spent more than $1 billion on fixing safety and infrastructure issues at the Texas City Refinery from 2005-2009.

The Energy Information Administration Data has released new data that explains the country’s energy use for April and May. Their findings showed that net energy generation for the United States industrial sector rose by 5.2 percent over the course of the last year.  Average retail electric prices for May 2010 hit 9.80 cents per kilowatt hour (kWh) which was more than 2 percent higher than in April. Commercial prices were a little higher, but stayed consistent with last year’s pricing with average April pricing of 9.97 cents per kWh. Total retail revenues in April 2010 were $25.5 billion.

With energy demand rising faster than supply in Asia, the Asian Development Bank has said it will allocate another $1 billion for clean energy investments and private equity funds that focus on renewable energy projects around the region. Having already invested more than $10 billion in cleantech, the announce further validates ADB’s commitment to support its surrounding countries needs for more clean energy generation.

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