New Industry Minister: Japan will keep nuclear but boost renewables as part of its energy mix
Japan will continue to restart nuclear power plants safely and use as much renewable electricity as possible, said Industry Minister Yojimuto on Wednesday. This indicates that the policy of newly appointed Prime Minister ShigeruIshiba is not likely to change significantly.
Biden Administration spending climate cash quickly as Trump threatens cancel it
If Donald Trump wins the Nov. 5 presidential election, he has promised to cancel all funds that have not been spent from President Joe Biden’s climate law. Biden administration officials say that the majority of the grants will have been spent by January when a new President takes office.
The policy uncertainty highlighted by the rise in US executives' election talk
U.S. executives are more concerned about the presidential election this year than they were four years ago. A wider policy divide between Donald Trump and Kamalah Harris raises concerns over taxes, tariffs, and pricing power. According to a LSEG Workspace screen on S&P 500 companies…
US House Bill Seeks $8 Bln for Abandoned Oil and Gas Well Cleanup
A U.S House of Representatives Democrat introduced a bill on Thursday authorizing $8 billion to plug and clean up abandoned oil wells nationwide, a measure aimed at creating jobs for oil and gas workers and reducing climate-warming emissions.More than a century of oil and gas drilling has left behind millions of abandoned wells…
ENERGY: Oil Rises on Vaccine Optimism, U.S. Stimulus
Oil prices open March 2021 on a strong note, supported by optimism about COVID-19 vaccinations, a U.S. stimulus package and growing factory activity in Europe despite coronavirus restrictions.Brent crude was up 63 cents or 1% at $65.05 a barrel by 1150 GMT, and U.S. West…
Big Corn, Big Oil Unhappy with Fed's Biofuel Plan
Corn farmers, ethanol producers, refinery representatives, energy traders and state and local officials from the Midwest all blasted away at the Trump administration's proposed biofuels plan for next year during a public hearing on Wednesday hosted by the U.S. Environmental Protection Agency (EPA).The hearing in Ann Arbor…
U.S. Senate Panel Backs Nord Stream 2 Pipeline Sanctions Bill
A U.S. Senate committee passed a bill on Wednesday to slap sanctions on companies and individuals involved in building the Nord Stream 2 pipeline from Russia to Germany that the Trump administration says would strengthen Moscow's economic grip on Europe.The Senate Foreign…
US Extends Offshore Wind Tax Credit
The American Wind Energy Association (AWEA) issued a statement in support of two bills introduced in the U.S. Senate this week, which would both extend the federal Investment Tax Credit (ITC) for offshore wind energy.The legislation comes at a critical time for offshore wind in America…
NOPEC Bills: Leverage for White House
For a proposed statute still at the first stage of the legislative process, with only a handful of sponsors in the U.S. Congress, the “No Oil Producing and Exporting Countries Act of 2019” (NOPEC) is generating a lot of comment.The amount of attention being paid to the…
Bill Allowing US to Sue OPEC Drawing Renewed Interest
With oil prices hitting fresh four-year highs, long-dormant proposals to allow the United States to sue OPEC nations are getting a fresh look in Congress, though they were once considered a longshot to becoming law.A U.S. Senate subcommittee on Wednesday will hear testimony on the so-called No Oil Producing and Exporting Cartels Act…
US Energy Companies Fume over Rejected Steel Tariff Exemptions
The U.S. Commerce Department recently granted a tariff exemption to oil major Chevron for its imports of 4.5-inch Japanese steel tubes for oil exploration.But the department rejected a similar request from Borusan Mannesmann Pipe to exclude 4.5-inch steel pipes imported…
US Solar Industry's Growth Region: Trump Country
President Donald Trump's administration has vowed to revive the coal industry, challenged climate-change science and blasted renewable energy as expensive and dependent on government subsidies. And yet the solar power industry is booming across Trump country, fueled by falling development costs and those same subsidies…
EU Divided On New US Sanctions against Russia
European Commission preparations to retaliate against proposed new U.S. sanctions on Russia that could affect European firms are likely to face resistance within a bloc divided on how to deal with Moscow, diplomats, officials and experts say. A bill agreed by U.S. Senate…
Trump to Promote US Natgas Exports in Russia's Backyard
President Donald Trump will use fast-growing supplies of U.S. natural gas as a political tool when he meets in Warsaw on Thursday with leaders of a dozen countries that are captive to Russia for their energy needs. In recent years, Moscow has cut off gas shipments during pricing disputes with neighboring countries in winter months.
Nigeria Bill Aims to Break Up NNPC
The long-awaited oil governance bill passed by Nigeria's upper chamber of parliament proposes breaking up the state oil company into three commercial entities supported by a regulatory body and a fund to oversee the distribution of money. The Petroleum Industry Governance Bill…
House Repeals Obama Rule on Methane Emissions on Federal Lands
The U.S. House of Representatives on Friday repealed a rule put forth in the final days of the Obama administration that limited emissions of the potent greenhouse gas methane from oil and gas drilling on federal lands, in the latest move by Republican lawmakers to overturn regulation on the energy industry.
Senate Kills Anti-corruption Rule for Energy Companies
The Republican-controlled Senate voted on Friday to repeal a controversial U.S. securities disclosure rule adopted by the Obama administration to curb corruption at big oil, gas and mining companies. In a 52-47 vote, the Senate approved a resolution already passed by the…
Coal Rule Killed by U.S. Congress
The U.S. Congress moved swiftly on Thursday to undo Obama-era rules on the environment, corruption, labor and guns, with the Senate wiping from the books a rule aimed at reducing water pollution. By a vote of 54-45, the Senate approved a resolution already passed in the…
Ahead of EIA Data, Oil Slips on Rising U.S. Inventories
API data shows higher U.S. crude and products inventories; market looks for confirmation from U.S. government data. Oil prices fell on Wednesday after builds in U.S. inventories reinforced expectations that increasing shale output this year would reduce the impact of production cuts by OPEC and other major exporters.
US Senate kills SEC "resource extraction" rule
The Republican-led Congress early Friday morning killed a controversial U.S. securities rule disclosure rule aimed at curbing corruption at big oil, gas and mining companies. In a 52 to 47 vote, the Senate approved a resolution already passed by the House of Representatives…
