General
House Panel Advances FY21 Energy-Water Funding Bill Kellie Lunney, Bloomberg Law
House Appropriations Cmte approves a $49.6b spending measure for energy and water infrastructure that would boost funding for renewable energy but would prohibit money for a White House plan to resurrect underground nuclear weapons testing.
Canadian firms warn over Mexico energy policy at dawn of trade deal Dave Graham and David Ljunggren, Reuters
As Mexico celebrated a new trade deal with the United States and Canada on July 1, a group of Canadian energy investors warned their government that Mexico could already be violating the agreement for failing to respect contracts.
False Choice Between Profit, Good Seen in Social Investing Rules Ralph Chapoco, Bloomberg Law
A U.S. Department of Labor proposed rule on when retirement-plan fiduciaries can consider socially responsible investments represents a return to a time when maximizing returns or altruism was considered an either-or choice, advocates say.
Oil Drops as the World’s Emergence From Virus Lockdown Slows Low De Wei and Alex Longley
Oil slipped for a second day on signs of a slower emergence from lockdown in some corners of the globe.
Oil and Natural Gas
Steyer: For a Biden Administration, ‘the Time for Subsidizing Fossil Fuels Is Long Passed’ Lisa Martine Jenkins, Morning Consult
Businessman and former Democratic presidential candidate Tom Steyer anticipates subsidies for oil and gas would be “off the table” in a potential Biden administration, noting that meeting the former vice president’s clean energy goals would involve a “pretty darn big change.”
Diesel Engines Latest to Get EPA Rules Respite Due to Virus Alexandra Yetter, Bloomberg Law
The EPA is giving diesel engine makers a break from meeting certain Clean Air Act requirements because of challenges from the coronavirus pandemic. Public health and legal concerns may have hindered manufacturers’ ability to adhere to certification and compliance activities for engines, vehicles, and other equipment, according to a Monday letter from the agency.
Environmental Groups Seek to Halt Building of Duke LNG Project Mark Chediak, Bloomberg Law
Friends of the Earth and Lumber Riverkeeper are asking the U.S. Army Corps of Engineers to order construction be halted on a liquefied natural gas project owned by Duke Energy’s Piedmont Natural Gas.
Forward markets point to potential fall US LNG output rebound from current lows Harry Weber and Ross Wyeno, S&P Global Platts
Forecasts for healthier netbacks could spur a rebound in US LNG export activity in the fall, following a sustained period of significantly reduced terminal utilization driven by cargo cancellations due to weak prices in end-user markets, according to S&P Global Platts Analytics data.
Dakota Access Gets Trump Administration Support Over Shutdown Ellen M. Gilmer, Bloomberg Law
The Trump administration is joining Dakota Access in appealing a court order requiring the oil pipeline to shut down next month.
OPEC chief sees oil market moving closer to balance before key meeting Alex Lawler and Rania El Gamal, Reuters
The oil market is getting closer to balance as demand gradually rises, OPEC’s secretary general said on Monday, two days before the group and ally Russia meet to decide whether to ease output curbs from August.
Environmental groups question Enbridge pipeline hearing The Associated Press
Environmentalists contend the state Department of Natural Resources held a public hearing on Enbridge Inc.’s plans to reroute a northern Wisconsin pipeline prematurely.
Utilities and Infrastructure
Biggest U.S. Battery System Connects to California’s Grid Anthony Robledo, Bloomberg
The biggest battery storage system in the U.S. connected to California’s electricity grid, giving the state more flexibility to bank excess solar power generated during the hottest parts of the day and deploy it later.
Renewables
Colossal Six Months for Offshore Wind Support Renewable Energy Investment in First Half of 2020 BloombergNEF
Renewable energy capacity investment showed great resilience in the first half of 2020, in the face of the unprecedented economic shock caused by the coronavirus, according to the latest figures from research company BloombergNEF (BNEF).
Coal
Only two coal-fired power plants in Colorado are set to operate past 2030 after Craig Station shutdown date is unveiled Lauren Irwin, The Colorado Sun
Xcel is the only utility in Colorado with large, coal-fired power plants set to operate past 2030.
Nuclear
House Appropriators Spar Over Yucca Mountain at Spending Markup Kellie Lunney, Bloomberg Law
The decades-long quest to figure out storing nuclear waste at Nevada’s Yucca Mountain dominated discussion during Monday’s Appropriations Committee markup of the energy and water spending bill.
Democrats split on Trump plan to use development funds for nuclear projects Rebecca Beitsch, The Hill
Democratic lawmakers are split over a Trump administration proposal that would allow international development funds to be used for overseas nuclear projects. The U.S. International Development Finance Corp. (DFC), a fledgling government fund with an aim to alleviate poverty, has proposed lifting the longtime ban it inherited from its predecessor that bars funding for any nuclear projects.
Climate
Factbox: On climate, it’s Biden’s green revolution versus Trump’s war on red tape Timothy Gardner, Reuters
The U.S. presidential election pits a politician who supports environmental regulation and diplomacy to tackle climate change against another determined to dismantle such policies.
Climate change, COVID-19 stoke wildfire’s economic risk, Fed says Ann Saphir, Reuters
Wildfires threaten the economy of the western United States to a greater extent than the rest of the country, and the coronavirus pandemic and climate change will only make that worse, according to research from the San Francisco Fed on Monday.
This Solution to Runaway Emissions Starts With Crushed Rocks Akshat Rathi, Bloomberg
‘Enhanced rock weathering’ would also boost agricultural yields while sucking up greenhouse gases.
Opinions, Editorials and Perspectives
When Central Banks Go Green The Editorial Board, The Wall Street Journal
Modern central banks jealously guard their independence—unless it comes to the environment. Witness monetary maestros’ growing enthusiasm for using central-bank balance sheets to pursue green-policy goals.
Don’t trade domestic energy independence for dependence on foreign lithium Rep. David McKinley, Washington Examiner
Over the past few months, people have become acutely aware of the problems with relying on foreign countries for vital products. The global pandemic has demonstrated that America depends on foreign suppliers far too much for products vital to our health, from masks to testing swabs to pharmaceuticals.
Local energy production is the sustainable choice Dan Haley, The Colorado Sun
Recent news stories highlight the need not only for American energy security, but for domestic energy that is produced cleaner, better and safer than anywhere on the planet, which is exactly what we’re doing here in Colorado.
Research Reports
Solar Climate Intervention: Options for International Assessment and Decision-Making Daniel Bodansky and Susan Biniaz, Center for Climate and Energy Solutions
There is a growing risk that the global response to climate change will be inadequate to avoid an unsafe global climate. There is corresponding interest in exploring the potential need for, and feasibility of, rapid responses to avoid dangerous climate change – such as solar climate intervention (SCI). At the same time, there is concern that such intervention, if any, be implemented as safely as possible. This paper posits a scenario in which a group of countries seeks a cooperative, science-based approach to decision-making regarding the potential use of SCI, in the context of increasingly dangerous climate conditions, taking into account “two safeties:” the safety of the global climate, and the safety of SCI, if any, in response.
Expectations for Renewable Energy Finance in 2020-2023: Survey of Leading Financial Institutions and Developers: $1T 2030 Campaign Progress Report American Council on Renewable Energy
This analysis presents the results of a new survey of prominent financial institutions and renewable energy development companies on their confidence in the sector amid the ongoing impacts of COVID-19. This report also tracks progress on the $1T 2030: American Renewable Investment Goal, which is an initiative ACORE launched in 2018 to help secure $1 trillion in private sector investment in renewable energy and enabling grid technologies by 2030. One trillion dollars of investment over 2018-2030 would represent more than two times the historic investment in the U.S. renewable sector before the campaign and more than double our existing renewable capacity, bringing us closer to meeting climate goals.
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