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The gathering storm swirling around commodity markets augers of troubled times ahead.

(Tue, 12 Jan 2016) Several states that collect significant revenue from severance taxes on fossil fuel extraction are re-evaluating current and upcoming operating budgets and taxation structures to address revenue shortfalls. Severance taxes are often imposed on the extraction of nonrenewable resources such as crude oil, natural gas, and coal.

* Traders take record short positions (Adds new Brent low, updates prices)

DALLAS, Jan 11 (Reuters) - Robert Kaplan, the new chief of the Dallas Federal Reserve Bank, said on Monday he would take a "wait-and-see" approach on assessing how China's slowdown will affect the U.S.

SINGAPORE, Jan 12 (Reuters) - U.S. crude prices continued a relentless dive early on Tuesday approaching a 20 percent drop since the beginning of the year as analysts scrambled to cut their 2016 oil price forecasts and traders bet on further price falls.

Jan 11 (Reuters) - United Airlines said on Monday its passenger unit revenue may have fallen more than expected in the fourth quarter just ended, after the November attacks in Paris shook traveler demand and sharply lower oil prices hurt sales to the Houston hub carrier's energy clients.

Jan 11 (Reuters) - United Airlines said on Monday that its passenger unit revenue may have fallen more than expected in the just ended fourth quarter, after the November attacks in Paris shook traveler demand and sharply lower oil prices hurt sales to the Houston hub carrier's energy clients.

According to the Cihan News Agency, annual electricity production from the Itaipu hydro project surpassed that of Three Gorges in 2015.

OKLAHOMA CITY, Jan 10 (Reuters) - Earthquakes in Oklahoma in the past week, including one of the strongest ever recorded in the state, have led to calls for the governor to make changes to oil and gas drilling regulations and reduce seismic activity scientists link to the energy industry.

Jan 11 (Reuters) - The British Columbia government said on Monday it will formally oppose the expansion of Kinder Morgan Inc's Trans Mountain pipeline to Canada's west coast, another blow to oil sands producers already reeling from a global crude price crash.

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