Energy
|
Essential energy industry news & intel to start your day.
|
May 13, 2021
|
|
|
Ex-Nuclear Head Baranwal: Tax Credit for Existing Nuclear Plants Could ‘Level the Playing Field’
In her 18 months heading the Energy Department’s Nuclear Energy office, Dr. Rita Baranwal repeatedly emphasized that keeping existing nuclear plants in operation is one of the best ways to ease the power grid’s process of decarbonization. So reports from earlier this month that the Biden administration is considering taxpayer subsidies to keep nuclear facilities from closing — which DOE Secretary Jennifer Granholm has since confirmed — came as welcome news to Baranwal and to the industry at large. A production tax credit could “level the playing field” with other power sources like solar and wind, she told me.
Baranwal also said that when it comes to nuclear energy, she expects the Biden administration to maintain the same priorities of her office, a rare instance of potential policy continuity for the rare topic that tends to have some backing from both sides of the aisle. For more on this, and on the specific projects Baranwal expects will persist as the Biden DOE takes shape, see our full interview here.
|
|
|
Top Stories
- The Colonial Pipeline restarted the flow of fuel yesterday evening, but its operator said bringing operations to full capacity may take days after a ransomware attack forced the major network to shut down on Friday. (The Wall Street Journal) Citing the attack, President Joe Biden signed an executive order that has been in the works for months to improve the nation’s cybersecurity, which encourages improved cybersecurity within the private sector, better safeguards for the software supply chain and better government response to significant attacks. (Bloomberg)
- The Environmental Protection Agency released its “climate indicators” data for the first time since the Trump administration paused its publication in 2016, illustrating global warming-related changes to the U.S. landscape in recent years and marking the first time the EPA has acknowledged the impact that humans have had on these changes. The report, which came alongside an updated website, described how the country has entered an unprecedented phase in warming, citing developments including the destruction of Alaska’s permafrost and an escalation of summer heat waves. (The Washington Post)
- Tesla Inc. CEO and founder Elon Musk walked back his announcement earlier this year that the company would accept bitcoin as payment for its vehicles, citing concern over the “rapidly increasing use of fossil fuels for bitcoin mining and transactions, especially coal.” Musk’s announcement via Twitter prompted at least a 12 percent drop in the cryptocurrency’s value against the dollar. (CNN)
- The Federal Reserve has held private supervisory conversations with large banks pressing them to disclose how they are incorporating climate risk into their decision-making, per four people with knowledge of the matter. The Fed expects lenders to share data on internal risk-management checks that test how their balance sheets would perform under different climate change scenarios, though it has not specified how to undertake those analyses, the people said. (Reuters)
|
|
|
|
|
|
Events Calendar (All Times Local)
|
|
|
What Else You Need to Know
EPA rescinds Trump rule allowing public to weigh in on agency guidance
Rachel Frazin, The Hill
The Environmental Protection Agency (EPA) announced on Wednesday that is rescinding a Trump-era rule that would have enabled public input on agency guidance.
EPA water nominee commits to ‘enduring solutions’ in confirmation hearing
Zack Budryk, The Hill
Radhika Fox, President Biden’s nominee to be the Environmental Protection Agency’s assistant administrator for water, on Wednesday pledged to “listen to all sides in order to find enduring solutions” in a hearing before the Senate Environment and Public Works Committee.
Senate Finance Committee to consider clean energy legislation this month
Naomi Jagoda, The Hill
Senate Finance Committee Chairman Ron Wyden (D-Ore.) said Wednesday that his panel would start to consider bills related to jobs and infrastructure this month, with the committee first taking up legislation focused on clean energy.
Biden’s climate envoy Kerry to visit Italy, Britain, Germany
Reuters
U.S. President Joe Biden’s climate envoy John Kerry will travel to Italy, Britain and Germany from Thursday to May 19 for talks on “enhancing global climate ambition” ahead of a U.N. climate summit in November, the White House said on Wednesday.
|
|
|
|
Climate Change and Emissions
|
|
|
|
|
|
|
Oil, Gas and Alternative Fuels
|
|
White House seeks to calm panic buying as Southeast gas stations run dry
Ben Lefebvre, Politico
The Biden administration is trying to ease the supply panic that started this weekend.
U.S. Pipeline Watchdog Rebuffed Call for Cybersecurity Rules
Ari Natter, Bloomberg
The federal agency charged with protecting the nation’s pipelines hasn’t imposed any mandatory cybersecurity requirements since its creation in wake of the Sept. 11, 2001 terrorist attacks — despite dire warnings from the intelligence community about vulnerability to hackers.
St. Croix refinery halts operations after raining oil on local residents once again
Juliet Eilperin, The Washington Post
Limetree Bay, which received a key permit under Donald Trump, has had several accidents since starting operations on Feb. 1.
Enbridge continues Straits pipeline operation, defying Gov. Whitmer’s deadline
Keith Matheny, Detroit Free Press
In defiance of an order by Gov. Gretchen Whitmer to cease operations by Wednesday, Canadian oil transport giant Enbridge continued to flow 23 million gallons of crude oil and natural gas liquids through Line 5, its controversial, 68-year-old twin pipelines on the Straits of Mackinac lake bottom.
Pipeline Hack Points to Growing Cybersecurity Risk for Energy System
Brad Plumer, The New York Times
Energy infrastructure has increasingly come under assault, and analysts said the attack that cut off fuel supplies this week should be a “wake-up call.”
Why the Colonial Pipeline Shutdown Is Causing Gasoline Shortages
Max Rust and Roque Ruiz, The Wall Street Journal
With few refineries of its own, the East Coast relies on gasoline, oil and jet fuel transported from the Gulf Coast.
BP dodges new climate target calls as activist pressure grows
Anjli Raval and Attracta Mooney, Financial Times
Shareholder support for the demands of campaign group Follow This more than doubles.
|
|
|
|
|
|
Electricity, Utilities and Infrastructure
|
|
|
|
|
Environment, Land and Resources
|
|
|
|
|
|
|
Opinions, Editorials and Perspectives
|
|
Pipelines Have a Role in Our Energy Present and Future
Guy F. Caruso (Senior Adviser, Center for Strategic and International Studies), Morning Consult
The small but vocal anti-pipeline chorus continues to grow louder every day in the wake of the Biden administration’s decision not to shut down the Dakota Access Pipeline as it undergoes additional environmental review, which comes after nearly four years of safe operation. The high-profile project featured prominently in Earth Day demonstrations, trended on social media and sparked petitions calling for its closure. If pipeline opponents were hoping for a definitive statement in President Joe Biden’s first address to Congress, they were sorely disappointed.
Elon Musk Conveniently Ignored Bitcoin’s Inconvenient Truth
Lionel Laurent, Bloomberg
Where does the future of money end and the “hustle” begin?
Colonial Pipeline Cyberattack Isn’t Just a Tech Problem
Liam Denning, Bloomberg
Preventing further breaches means learning to deal with a multiplying set of threats.
|
|
|
|
The Climate and Community Investment Act: An Engine for Good Job Creation
NY Renews
New York State has reached a fork in the road: do we attempt to recover from the Covid-19 economic crisis via top-heavy, top-down policies that lead to deadly air pollution, drinking water contamination, and the devastating loss of good, family-sustaining jobs in New York State and nationally? Or do we rebuild by investing in our communities, investing in our workers and our workforce, and investing in long-term solutions with policies that both tackle the climate crisis and create jobs?
|
|
|
|
|