News bites: Oil prices threaten economy, lawmakers dumped BP stocks, and more

Plenty of news from International Energy Association chief Nobuo Tanaka’s speech in Russia Thursday:

The Wall Street Journal flags his remarks on the economy. “If the current oil price continues, it will be to the detriment of the global economic recovery,” he said.

Reuters reports that Tanaka said the multilateral agency stands ready to release strategic reserves of oil to ensure adequate supply and support the economy.

Elsewhere on the Web ...

Greenwire — via The New York Timesunwraps the Pentagon’s new battlefield energy plan, calling it “the most significant step the Defense Department has yet taken to address its substantial thirst for energy.”

The Washington Post reports that Sen. Lamar Alexander (R-Tenn.), a member of the GOP’s leadership team, “said Wednesday that he is working on legislation that could eliminate a variety of energy tax subsidies and dedicate the proceeds to debt reduction.”

The Center for Responsive Politics combs financial disclosure reports to discover that prominent lawmakers “made a concerted effort to financially distance themselves from BP in the aftermath of the Deepwater Horizon oil spill, either by reducing or altogether dumping their stock holdings.”

Bloomberg reports that threats to water resources are playing a key role in international climate talks in Bonn, Germany.

Russia and China are seeking a deal on natural-gas supplies, Reuters reports.