News bites: ‘Perverse’ effect of EPA rule, BP ditches green energy, and more

The Wall Street Journal reports that China is poised to overtake the U.S. as the world’s top oil importer.

Billionaire oilman T. Boone Pickens said the U.S. oil-and-gas boom is occurring without any help from “incompetent” federal officials and lawmakers, Bloomberg reports.

The Houston Chronicle
looks at BP’s retreat from the wind and solar business.

Reuters reports that Barclays has steeply cut its oil price forecast, “becoming the last of the big banks active in commodities to abandon its bullish stance in the face of soaring U.S. oil output and sluggish global demand.”