Morning Consult Energy: Biden to Establish Two National Monuments in Nevada and Texas
 

Energy

Essential energy industry news & intel to start your day.
March 21, 2023
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Today’s Top News

  • In an effort to meet a goal of conserving a third of the nation’s lands and waters by 2030, President Joe Biden will establish two national monuments in Nevada and Texas today, along with directing the study of a possible marine sanctuary off Hawaii. Biden will establish the Avi Kwa Ame National Monument in Nevada and the Castner Range National Monument in northern El Paso, Texas, that spans nearly 7,000 acres. (E&E News
  • United Nations Secretary-General Antonio Guterres is calling on rich countries and developing nations to aim for net-zero emissions by as early as 2040 and 2050, respectively, a decade earlier than most targets. The call to action comes after the latest Intergovernmental Panel on Climate Change report showed that in order to stay under the 1.5 degrees Celsius target set as part of the Paris Agreement, the world would need to aim to slash 60% of its greenhouse gas emissions by 2035 compared to 2019. (The Associated Press)  
  • As expected, Biden issued his first veto since taking office to block a repeal of a Labor Department rule that allowed for some retirement plans to take into account environmental, social and corporate governance factors when choosing investments, a policy that was targeted by Republican lawmakers and a handful of Democrats. (CNBC)
  • U.S. District Judge Jeffrey Vincent Brown of Texas has paused the Biden administration’s “waters of the United States” rule in Texas and Idaho as part of a preliminary injunction, as roughly half of all U.S. states are challenging the “WOTUS” rule. Republicans have said the vague regulation, which defines waterways that fall under the protection of the Clean Water Act and went into effect across the country on Monday, would create economic burdens. (The Associated Press)
 

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What Else You Need to Know

Politics and Policy
 

Manchin calls Biden administration priorities ‘absolutely infuriating’ after ESG veto

Al Weaver, The Hill

Sen. Joe Manchin (D-W.Va.) teed off on President Biden’s decision earlier on Monday to veto a bill that would have nixed a Labor Department rule on environmental, social and governance (ESG) investing.

 

4 energy takeaways from the House Republican retreat

Kelsey Brugger, E&E News

Republicans have gathered here to refine their messaging on the economy, inflation and energy but are going into overtime while hashing out issues behind closed doors.

 

Alaska oil drilling protesters disrupt White House climate adviser appearance

Reuters

Protesters criticizing President Joseph Biden’s approval of an oil drilling project in Alaska on Monday blocked an administration official from delivering a speech about U.S. climate leadership.

 

Biden may prevail against Navajo in SCOTUS water battle

Pamela King and Jennifer Yachnin, E&E News

The Supreme Court on Monday appeared closely divided on whether to side with the Navajo Nation in the tribe’s high-stakes fight against the Biden administration and four states to protect its right to water from the drought-stricken Colorado River.

 

Texas adds HSBC to energy sanctions list

Reuters

A Texas official on Monday added HSBC Holdings to an energy sanctions list, widening a crackdown on companies which in the state’s view are too focused on energy transition.

 

GOP to energy companies: We’re here to help. Industry: Meh.

Zack Colman, Politico

Legislation aimed at speeding approval of projects such as pipelines and power lines amounts to “half-measures,” people experienced in federal energy permitting say.

 
Climate and Enviroment
 

Carbon Offset Gatekeepers Are Failing to Stop Junk Credits

Natasha White, Bloomberg

New research finds the leading standard-setters are systematically over-crediting projects, generating junk carbon offsets that some companies use to make green claims. 

 

Biden administration urges Supreme Court to leave climate lawsuits to states

Kate Yoder, Grist

Big Oil has long counted on corporate-friendly federal courts to get rid of climate suits.

 
Renewables and Nuclear
 

Last Energy Signs Deals Worth $19 Billion for Nuclear Plants

Will Wade, Bloomberg

Last Energy Inc., a startup developing advanced, smaller nuclear power plants, completed four deals worth $18.9 billion to build 34 reactors in Europe.

 

Google, LevelTen Energy team up to improve PPAs, streamline corporate renewable energy procurement

Emma Penrod, Utility Dive

Google, in collaboration with power-purchase-agreement marketplace LevelTen Energy, is piloting a new approach to requesting and negotiating PPAs that the two parties hope will dramatically reduce the time it takes to arrive at a finalized contract.

 
Fossil Fuels
 

Sempra reaches final investment decision on Port Arthur LNG plant’s Phase 1

Reuters

U.S. power and gas utility Sempra Energy said on Monday the first phase of its proposed Port Arthur liquefied natural gas export terminal received the financial greenlight to move ahead with investment firm KKR & Co agreeing to a minority stake in the project.

 

Saudi leads push to elevate carbon removal in UN climate science report

Camilla Hodgson and Attracta Mooney, Financial Times

Flashpoints emerge in finalisation of key research findings.

 

North Dakota Senate advances tax breaks for fracking

Trisha Ahmed, The Associated Press

The North Dakota Senate passed a bill Monday that would give tax incentives to oil companies for “restimulating” old oil wells in the state through hydraulic fracturing, also known as fracking.

 

California’s Newsom Scores Win in Bid to Curb Oil Profits

Gerson Freitas Jr., Bloomberg

Governor Gavin Newsom struck a deal Monday with legislative leaders on a proposal to limit how much profit oil companies can make in California and establish a watchdog to monitor gasoline prices.

 

Chevron-chartered tanker involved in collision with sanctioned vessel in Venezuela

Reuters

A Liberia-flagged oil tanker chartered by Chevron Corp. had a minor collision with another vessel, the Bueno, in Venezuelan waters on Sunday, according to sources and a shipping report seen by Reuters on Monday.

 

The gas stove wars are far from over

Rebecca Leber,  Vox

Gas stoves are facing a new era of regulation. The public health science says it’s justified.

 

Why the longest coal strike in Alabama history ended with no new contract

Tushar Khurana, Grist

As coal declines, miners’ unions are struggling to bargain for better conditions.

 
Transportation and Alternative Fuels
 

EV charger makers brace for slowdown as new Made In America rules kick in

Abhirup Roy and Hyunjoo Jin, Reuters

Manufacturers and operators of electric vehicle chargers in the United States are bracing for a slowdown in production and deployment as they scramble to comply with “Made in America” terms of a $7.5 billion federal program meant to accelerate the industry.

 

Elon Musk’s Cost-Cutting Targets at Tesla Pressure EV Rivals

Tim Higgins, The Wall Street Journal

GM, Ford, Volkswagen face questions about efforts to slash costs for future vehicles.

 

Huge Phillips 66 biofuels project will test the industry’s green promises

Laila Kearney, Reuters

In the oldest refining town in the American West, Phillips 66 is promising a greener future as it moves to halt crude-oil processing and build a massive renewable diesel plant, leading a global trend.

 

VW Says There’s Never Been a Better Time to Build an EV Factory in the US

Keith Naughton, Bloomberg

Volkswagen AG said lucrative new US incentives for EV makers were just too good to pass up when weighing to pick a partner or build its own factory to make cars for the new Scout brand.

 
Electricity/Utilities/Infrastructure
 

Sunnova seeks $3.3B DOE loan guarantee to expand virtual power plants

Jeff St. John, Canary Media

An SEC filing suggests the federal Loan Programs Office is gearing up to help lower-income households access rooftop solar and batteries that can help the grid.

 

Transmission link between Puerto Rico, US mainland wouldn’t trigger FERC jurisdiction, agency declares

Ethan Howland, Utility Dive

The clarification could affect Alternative Transmission’s proposed undersea cable project that aims to bolster Puerto Rico’s grid.

 

Last wild Atlantic salmon can survive Maine dams, feds say

Patrick Whittle, The Associated Press

The federal government ruled Monday that the last wild Atlantic salmon in the country can coexist with hydroelectric dams on a Maine river, dealing a blow to environmentalists who have long sought to remove the dams.

 
Land and Resources
 

Biden administration announces nearly $200 million for wildfire resilience

Zack Budryk, The Hill

The Biden administration on Monday announced a new award of $197 million toward wildfire resilience through Bipartisan Infrastructure Law (BIL) funds.

 
General
 

Welcome to Utah, where pipeline protests could now get you at least five years in prison

Naveena Sadasivam, Grist

Since the Standing Rock protests in 2017, 19 states have passed so-called critical infrastructure laws.

 

Why seniors are blocking entrances to the four largest U.S. banks

Maxine Joselow, The Washington Post

Protests in cities across the country will target Chase, Bank of America, Citi and Wells Fargo.

 

US Investors Fear Legal Action as ESG Splits Global Markets

Frances Schwartzkopff, Bloomberg

ESG is dividing investment trends across the globe.

 
Morning Consult