Energy
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Essential energy industry news & intel to start your day.
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September 14, 2022
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Today’s Top News
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Energy companies are warning that a nationwide rail strike, which could happen as soon as Friday, would wreak havoc on their supply chains, causing severe bottlenecks across coal, chemicals and oil and gas industries and possibly resulting in a spike in fuel prices for consumers. Refiners and chemical manufacturers use railroads for shipments of raw materials and to transport finished products, as chemicals make up the second-largest category of rail freight after coal. (E&E News)
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Up to 80% of retired or active coal power plant locations in the United States could be converted to nuclear power sites, according to a Department of Energy report, including as many as 157 retired plants and 237 operating plants. The report said the switch could help the nation reach its net-zero emission goals by 2050 by hosting advanced nuclear reactors. (Reuters)
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Global climate change impacts are entering “uncharted territories of destruction” as climate-related disasters have increased fivefold over the last five decades, costing $200 million a day, according to a report compiled by the World Meteorological Organization. (CNBC)
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The Department of Agriculture will triple its initial investment in climate-friendly farming and forestry practices to about $3 billion after receiving more than 1,000 applications asking for more than $20 billion from the Partnerships for Climate-Smart Commodities program. The program will fund 70 projects across the United States and Puerto Rico to encourage emissions reductions through measures such as planting cover crops, improving manure management and collecting data on grazing practices. (Reuters)
Worth watching for (all times local):
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10 a.m. The House Natural Resources Committee’s oversight subcommittee will discuss whether public relations firms helped the oil and gas industry spread disinformation about climate change.
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A MESSAGE FROM MORNING CONSULT |
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What Else You Need to Know
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Climate Change and Emissions
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NC utilities panel hears testimony over Duke Energy CO2 plan
Gary D. Robertson, The Associated Press
North Carolina’s electricity regulators began listening Tuesday to potentially weeks of testimony over proposals by Duke Energy Corp. subsidiaries on how to carry out a state law demanding greenhouse gas reductions in the next decade.
Private Equity’s Role in Climate Crisis Spurs Transparency Demand
Tim Quinson, Bloomberg
The industry’s giants say that while they hear the critics of their multibillion-dollar investments, they’re sticking with fossil fuels for now.
Biden administration seeks to lower industrial greenhouse gas emissions — and that won’t be easy
Ben Adler, Yahoo News
With the passage last month of the Inflation Reduction Act (IRA), the federal government has taken its first major steps towards reducing greenhouse emissions from cars, houses and power plants by incentivizing the purchase of electric vehicles, solar panels, electric heat pumps and other existing technologies.
Oil industry’s ad firms shun U.S. hearing on climate disinformation
Valerie Volcovici, Reuters
Public relations firms declined to attend a Wednesday hearing set by U.S. Democrats about whether they helped the fossil fuel industry spread disinformation about climate change, according to the House of Representatives panel holding the event.
Wisconsin’s first grassland climate adaptation site is a ‘best case scenario’ for mitigating climate change
Gaby Vinick, Wisconsin Public Radio
Environmental groups team up to protect nearly 50 rare or declining species in Rush Creek State Natural Area.
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U.S. invests in multi-state offshore wind hubs to narrow supply gaps
Eduardo Garcia, Reuters
A new federal-state initiative to build regional offshore wind infrastructure could offer faster access to local components and push the U.S. closer to President Biden’s climate goals.
IRA ‘turbocharging’ of clean energy tax credits could boost NextEra, AES, other renewable developers: S&P
Ethan Howland, Utility Dive
Renewable energy developers like Brookfield Renewable Partners, Clearway Energy and Pattern Energy Group could also benefit by providing electricity to make green hydrogen.
New York announces $16.6M for hydrogen and 4 other long-duration storage demonstration projects
Emma Penrod, Utility Dive
The five projects represent a variety of long-duration storage technologies, including battery storage, pumped hydroelectric storage, and hydrogen.
Renewable energy to power new West Virginia industrial site
The Associated Press
A firm owned by billionaire businessman Warren Buffett has partnered with the state of West Virginia to buy land for use as an industrial park powered by renewable energy, Gov. Jim Justice announced Tuesday.
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Oil, Gas and Alternative Fuels
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Where the New Climate Law Means More Drilling, Not Less
Lisa Friedman, The New York Times
A compromise built into the law ensures oil and gas leasing in the Gulf of Mexico for the next decade. Activists say the region has been “sacrificed” to fossil fuels.
Manchin deal might not save Mountain Valley pipeline
Mike Soraghan, E&E News
The Mountain Valley pipeline may never be finished — even if Sen. Joe Manchin’s permitting revamp becomes law.
OPEC sticks to oil demand growth view, sees pre-pandemic demand in 2023
Alex Lawler, Reuters
OPEC on Tuesday stuck to its forecasts for robust global oil demand growth in 2022 and 2023 citing signs that major economies were faring better than expected despite headwinds such as surging inflation.
Lower gasoline prices fuel Democrats’ midterm optimism
Timothy Cama, E&E News
As gas prices continue to plummet, Democrats are seeing their once-grim midterm election prospects improving.
EU embargo to hit Russian oil output, IEA says
Tom Wilson, Financial Times
International Energy Agency suggests production will fall by 1.9mn barrels a day by February against a year earlier.
The U.S. oil executive making a big bet on combating climate change
Liz Hampton, Reuters
The chief executive of a small U.S. oil company has jumped to the forefront of the energy industry’s greenhouse gas reduction efforts, recruiting high-profile firms to his vision of striking it big by selling access to carbon storage developments.
US EPA set to finalize rule on state sales of higher-ethanol gasoline blend – Regan
Stephanie Kelly, Reuters
The U.S. Environmental Protection Agency intends to finalize a rule before next summer to allow the year-round sale of gasoline blended with a higher level of ethanol in several states, EPA Administrator Michael Regan said on Tuesday.
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Electricity, Utilities and Infrastructure
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How power companies have caused and worsened wildfires
Rebecca Leber, Vox
“California Burning” author Katherine Blunt on the lessons learned in California.
An Oily Challenge: Evict Stinky Old Furnaces in Favor of Heat Pumps
Somini Sengupta, The New York Times
Building by building, New York and other cities are trying to stop the age-old use of fossil fuels to heat homes and buildings. In the U.S., new climate laws aim to speed things up.
Power outages are on the rise, led by Texas, Michigan and California. Here’s what’s to blame
Rachel Ramirez, CNN
Power outages in the US are climbing, researchers reported Wednesday, as extreme weather gets worse due to the climate crisis, the demand for electricity climbs and the country’s energy infrastructure gets older and more vulnerable.
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Environment, Land and Resources
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California’s Mosquito Fire prompts more evacuations as it races toward mountain communities, burning homes and cars in its path
Nouran Salaheih, CNN
The Mosquito Fire burning in Northern California flared up Tuesday afternoon, charging toward a mountain community and torching more homes as it burned dangerously close to a high school.
In Arizona, worry about access to Colorado River water
Tony Davis, The Associated Press
Robbie Woodhouse’s grandfather began nearly a century of family farming along the Gila River near Yuma in the middle 1920s when he dug up a bunch of mesquite stumps on his land to make way for his barley, wheat, Bermuda seed, cotton and melon fields.
Northeast drought endangers Massachusetts’ cranberry harvest
Zoya Teirstein, Grist
Another year of erratic weather means cranberry farmers are facing slim margins and tough decisions.
Federal agency seeks protections for bat species decimated by fungus
Jacob Knutson, Axios
Federal officials on Tuesday proposed adding the tricolored bat, a microbat native to eastern North America, as endangered under the Endangered Species Act.
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Hurdles ahead for saving Michigan nuclear power plant
Reuters
The governor of Michigan said last week she wants a nuclear power plant to reopen to save jobs and help curb climate change, but the company that bought the plant said there are many hurdles to save the facility.
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Opinions, Editorials and Perspectives
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The Hydrogen Hubs Conundrum: How to Fund an Ecosystem
Robin Gaster, Information Technology and Innovation Foundation
Recent federal legislation provides $8 billion to develop at least four hydrogen hubs, but little guidance. DOE should focus its funding on the capital costs of hydrogen production and infrastructure, while generally eschewing operating expenses and support for end users.
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