Energy
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Essential energy industry news & intel to start your day.
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May 3, 2023
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Today’s Top News
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Nine Senate Democrats voiced their support for President Joe Biden’s two-year tariff pause on solar panel imports from four Southeast Asian countries, while also warning in a letter shared exclusively with The Hill that a bipartisan resolution to resume the tariffs “would deal a devastating blow to the American solar industry, which will kill jobs, raise energy costs, and decrease our ability to achieve clean energy independence.” Despite a veto threat from Biden, the House last week passed a resolution aiming to restart the tariffs in an effort to boost domestic solar manufacturing, and the Senate is scheduled to vote and pass on its own resolution today. (The Hill)
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Ford Motor Co.’s electric vehicle business lost $722 million in the first quarter, as the company cut the price of its Mustang Mach-E for the second time this year. The company plans to reopen orders for the Mach-E – for which sales were down 20% in the first quarter – sometime this week and expects to boost production of the vehicle this year at its Mexico plant to meet customer demand. (The Wall Street Journal)
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New York is set to adopt the first statewide law banning natural gas in new buildings after weeks of state budget negotiations, with a final vote enacting the law anticipated this week, although legal challenges are expected. The new law would likely take effect in 2026 for new buildings under seven stories, while larger buildings would need to comply starting in 2029. (CNBC)
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John Podesta, Biden’s climate adviser, said the administration will support Sen. Joe Manchin’s (D-W.Va.) latest permitting effort called the Building American Energy Security Act, which includes a two-year limit on major federal energy project environmental reviews and the completion of the $6.6 billion Mountain Valley Pipeline, as the White House looks for “a path forward on bipartisan, permanent reform.” The administration’s support comes despite Manchin’s recent calls to repeal parts of the Inflation Reduction Act, which he helped pass, and several failures on earlier permitting legislation. (Reuters)
Happening today:
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A MESSAGE FROM MORNING CONSULT |
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What Else You Need to Know
Debt ceiling deadline opens path for permitting
Jeremy Dillon and Emma Dumain, E&E News
News that the federal government faces a debt limit deadline far sooner than previously expected could give supporters of overhauling the nation’s permitting process a rare boost: an actual deadline to complete negotiations.
Biodiversity Beats Climate When It Comes to Swaying Republicans
Saijel Kishan, Bloomberg
The topic may sound just as amorphous as ESG, but there’s growing evidence it plays better with right-wing investors.
Biden administration pledges fight to keep climate-friendly farming funds
Leah Douglas, Reuters
The Biden administration will defend funding for climate-smart farming in the $430 billion U.S. Inflation Reduction Act (IRA) if Republican lawmakers seek to cut it during negotiations for the next farm bill, an official said Tuesday.
Ethanol dispute shows power of regional interests in narrow GOP majority
Rachel Frazin, The Hill
A recent disagreement over ethanol exemplifies the power of regional issues to potentially change — or even threaten to derail — Republican bills, given the party’s small House majority.
COP28 head sets agenda for $100bn fund and push for ‘low-carbon’ tech
Attracta Mooney, Financial Times
Jaber promises to ‘supercharge’ climate finance but focuses on cutting fossil fuel emissions rather than production.
Top Energy Republican blasts Haaland on lease sales: ‘You haven’t been following the law’
Zack Budryk, The Hill
Senate Energy Committee Ranking Member John Barrasso (R-Wyo.) castigated Interior Secretary Deb Haaland’s record on oil and gas leasing at a committee hearing Tuesday, accusing her of violating the law by not holding quarterly lease sales.
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El Nino likely to return this year, fuelling global temperatures, World Meteorological Organization says
Reuters
The El Nino weather pattern is likely to develop later this year and could contribute to rising global temperatures, the World Meteorological Organization said on Wednesday.
Inside big beef’s climate messaging machine: confuse, defend and downplay
Joe Fassler, The Guardian
A Masters of Beef Advocacy program teaches ‘scientific sounding’ arguments on cattle’s sustainability in an all-out public relations war.
Rich nations to meet overdue $100 billion climate pledge this year
Maha El Dahan et al., Reuters
Wealthy nations are on track this year to meet their overdue $100-billion climate finance pledge to developing countries, three years later than promised, Germany’s foreign minister Annalena Baerbock said on Tuesday.
Flooding may threaten over 120 hazardous sites in California by 2050, study shows
Jacob Knutson, Axios
Hundreds of industrial sites along California’s coastline may face a heightened risk of coastal flooding by 2050 because of sea level rise from human-caused global warming, a new study published in the journal Environmental Science & Technology on Tuesday estimates.
Groups to sue federal officials over manatee protection
The Associated Press
Several conservation groups announced Tuesday that they’re planning to sue federal wildlife officials, citing a failure to protect the West Indian manatee following record death rates in recent years.
Rainforest nations seek easier access to UN carbon credit scheme
Ahmed Eljechtimi, Reuters
Countries that are home to rainforest and peatland vital to limiting climate change want easier access to sovereign carbon credits, a financial scheme to reward them for preserving their ecosystems, Congo Republic’s environment minister told Reuters.
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U.S. oil patch dealmaking grinds to two-year low in first quarter
Curtis Williams, Reuters
U.S. oil and gas dealmaking fell to a two-year low of $8.58 billion last quarter, as combinations of natural gas companies dried up and oil buyers focused on mature plays, energy analytics firm Enverus said on Tuesday.
Hundreds of gas plants could escape EPA climate rules
Jean Chemnick, E&E News
About 1,000 natural gas-fired power plants that provide energy at periods of peak demand could be excluded from the toughest standards under EPA’s upcoming carbon rules.
TotalEnergies sues Greenpeace over emissions report
America Hernandez, Reuters
French oil major TotalEnergies has sued environmental group Greenpeace France and climate consulting firm Factor-X over a report claiming the company massively underestimated its 2019 greenhouse gas emissions, Total said on Wednesday.
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Transportation and Alternative Fuels
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Electricity/Utilities/Infrastructure
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Maine court recharges plan for embattled transmission line
Jake Bittle, Grist
The new wires will help wean New England off fuel oil and natural gas.
Biden proposes 30% climate change tax on cryptocurrency mining
Ben Adler, Yahoo News
The White House is trying to persuade Congress to pass a 30% tax on the electricity used in cryptocurrency mining in the next federal budget in order to minimize the nascent industry’s impact on climate change.
Dominion eyeing more natural gas plants, modular reactors
Sarah Rankin, The Associated Press
Renewables alone aren’t expected to meet a projected increase in demand for electricity in the coming decades, Dominion Energy Virginia said in a filing this week that was closely aligned with Republican Gov. Glenn Youngkin’s energy policy.
Coming EPA power plant rules will put carbon capture to the test, but better oversight is needed, critics say
Herman K. Trabish, Utility Dive
Federal funding gives U.S. carbon capture, utilization and storage policy parity to show it can compete with other clean energies, advocates and opponents agree.
This former Tesla engineer is reinventing the home electrical panel
Diana Olick, CNBC
The home is increasingly becoming a command hub for all kinds of smart technology and smart power. One major component of that, however, is not very smart at all: the electric panel. It hasn’t changed much in about 75 years.
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Opinions, Editorials and Perspectives
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