The U.S. Environmental Protection Agency warned Royal Dutch Shell PLC (RDSA, RDSB, RDSA.LN, RDSB.LN) last month that air permits, such as those required for its major Alaskan oil project, were at risk under a Republican lawmaker's plan to curb the agency's powers.

The issue involves an amendment to an agency funding bill sponsored by Sen. Lisa Murkowski, R-Alaska. The proposal is intended to block the EPA from crafting new greenhouse-gas regulations for power plants and refineries, running counter to Obama administration policies. Read the rest at the Wall Street Journal...