Biden Administration will not finalize the clean fuel tax credit guidelines
Three sources have confirmed that Biden administration officials won't finalize the highly anticipated guidelines for new clean fuel production credits targeted at the airline industry and biofuel industries by the time they depart in January. This casts doubt on the future success of this key part of the U.S. President's climate agenda. The tax credit was to go into effect on Jan. 1 but, due to a lack detailed guidelines from the U.S.
Natural gas producers ask Harris for answers on the battleground state
Drillers from Pennsylvania, an energy-rich state, called on Democratic presidential nominee Kamala Harris this week to explain her stance on natural gas. The energy industry touts it as a clean fuel but climate activists claim that the fuel is a threat to global warming. In January, President Joe Biden froze new LNG export permits to examine their environmental impact. This was…
Harris' energy strategy is ambiguous from a strategic perspective, say her aides
Since Vice President Kamala Harris joined the White House race 25 days ago, she has been keeping energy executives on their toes. Was she the anti-pollution and climate change warrior Attorney General of California? Or was she the pragmatic number two in the Democratic Biden Administration that oversaw record U.S. production and exports of oil? Seven times in her speeches, she mentioned climate, but never energy, fracking, or oil.
Bids for Small Refinery Waivers Flood into EPA
The U.S. Environmental Protection Agency has received 37 applications for small refinery waivers for 2018 from the U.S.
Shutdown Risks Delays to US Energy Initiatives
The partial government shutdown is increasing the chances of delays in U.S. energy initiatives from the release of President Donald Trump's proposed offshore drilling plan to allowing higher levels of ethanol in gasoline during summer months, energy industry groups said on Friday.The U.S. Department of Interior had been expected to release its highly anticipated 2019 to 2024 offshore…
Next-wave LNG Race Hits Hurdles in US-China Trade War
The delay of a U.S. Gulf Coast liquefied natural gas (LNG) export project has crystallized fears that the U.S. trade battle with China is hampering efforts to line up buyers needed to move ahead with multi-billion-dollar builds.The United States is positioning itself as the dominant provider of the supercooled fuel as Asian nations shift away from dirtier power sources like coal…
Big Crude Oil Margins Should Boost US Refiner Earnings
U.S. refiners ran full-tilt in the second quarter, fueled by cheap domestic crude and fat margins that should boost earnings, though their heavy activity could eventually saturate the market with gasoline, sapping profits down the road.U.S. independent refiners, including Phillips 66 and Marathon Petroleum Corp, are expected to announce strong results due to the heavy discounts for U.S.
EPA Scraps Plan to Force US Refiners to Blend More Biofuels
The U.S. Environmental Protection Agency ditched a detailed plan that would have forced refiners to blend more biofuels into their gasoline and diesel in 2019 to compensate for volumes likely to be exempted under the agency's small refinery hardship waiver program, according to newly released EPA documents.The plan would have boosted the renewable fuel blending obligation for the…
ETP Reopens one of two Philadelphia Area Product Pipelines
Energy Transfer Partners LP reopened the smaller of two Philadelphia area pipelines that help carry refined products from the region's refineries to the New York Harbor and Western Pennsylvania but the larger of the two remained shut, the company said in a customer notice seen by Reuters. The two lines, 8-inch and 12-inch in size, were shut on Friday as a precaution after gasoline was discovered in a creek outside of Philadelphia.
Dallas Company Secures Permits to Expand Crude Export Hub at Texas Port
Jupiter MLP LLC, a Dallas-based logistics company, has secured permits to expand a crude export dock at the Port of Brownsville in Texas, the latest in a series of moves made by U.S. companies to tap into booming overseas shipments.The expanded dock space will be able to accommodate Suezmax-size vessels, the company said in a statement Thursday.Privately-held Jupiter has also begun…
US Interior Secretary Sees Little Demand for New Offshore Drilling
U.S. Interior Secretary Ryan Zinke said on Friday that he sees little demand from oil and gas companies for new offshore drilling leases, which could pose problems for his plan to ramp up output from federal waters.The comments come just three months after Zinke had proposed opening nearly all U.S. ocean coastlines to drilling, in a bid to raise domestic oil and gas production.
Pennsylvania says Bankrupt Refiner Owes $3.8 bln in Taxes
The state of Pennsylvania wants a federal judge to halt the bankruptcy of Philadelphia Energy Solutions (PES), arguing the refiner owes an estimated $3.8 billion in fuel taxes, according to a court filing on Friday. The state's Department of Revenue said the refiner must make several changes to the proposed restructuring plan to ensure the taxes are paid before it can support the plan.
Biofuel Credits Continue Free Fall in Wake of Refiner Settlement
Renewable fuel credits for 2018 continued their sharp decline on Tuesday after the U.S. Environmental Protection Agency granted a bankrupt Philadelphia refiner significant relief from its biofuel obligations. Prices for renewable fuel (D6) credits for 2018 traded at 35 cents on Tuesday morning, traders said, down from 38.5 cents on Monday and roughly 40 percent lower than just two weeks ago.
U.S. Refinery Workers Push Biofuels Reform
A delegation of workers from U.S. oil refining companies that oppose the nation's biofuels policy will converge on Washington on Wednesday to try to convince lawmakers to find a way to lessen the regulation's costs without hurting corn farmers. The trip, organized by the United Steelworkers union, marks the latest move in a battle between Big Oil and Big Corn over the fate of the U.S.
Trump Wades Deeper into Biofuel Debate
U.S. President Donald Trump on Thursday will gather rivals from the oil and corn industries for the second time this week as the administration seeks elusive common ground on reforms to the nation's controversial biofuels law. The meetings come amid rising concern in the White House over the current state of the U.S. Renewable Fuel Standard (RFS), a law requiring refiners to mix biofuels such as corn-based ethanol into their fuel…
US Ag Secretary Seeks to Calm Farmers after Biofuel Talks
U.S. Perdue made the comments a day after Trump hosted a meeting with Cabinet officials and senators to discuss potential changes to the Renewable Fuel Standard to help refiners who say they are struggling under the program. The RFS requires refiners to blend biofuels like corn-based ethanol into the nation's fuel. That meeting yielded no deal. "I can tell you Trump stands with corn farmers…
Big Corn, Big Oil Square off in White House Biofuels Meeting
U.S. President Donald Trump gathered with senators and Cabinet officials on Tuesday to discuss ways to lower the cost of the nation’s biofuels policy to refiners, a meeting pitting Big Corn against Big Oil. The meeting reflects rising concern in the White House over the current state of the U.S. Renewable Fuel Standard (RFS), a law requiring refiners to mix biofuels such as corn-based ethanol into their fuel…
Trump Calls Meeting On Biofuels Policy Blamed by Bankrupt Refiner
U.S. President Donald Trump has called a meeting early next week with key senators and Cabinet officials to discuss potential changes to biofuels policy, which is coming under increasing pressure after a Pennsylvania refiner blamed the regulation for its bankruptcy, according to four sources familiar with the matter. The meeting comes as the oil industry and corn lobby – powerful forces in Washington – clash over the future of the Renewable Fuel Standard (RFS)…
U.S. Senator's Biofuel Overhaul Faces Resistance
Texas Senator John Cornyn’s plan to overhaul U.S. biofuels policy faces resistance from the oil and ethanol sectors, reducing chances of a reboot to the controversial regulations, sources familiar with the matter said. The plan, which the sources said could be released as draft legislation in coming weeks, represents nearly two years of negotiations with the rival industries to end their ongoing clash over the future of the Renewable Fuel Standard.
U.S. Tax Overhaul Could Spur Refining, Pipeline CapEx
U.S. refiners and pipeline companies are likely to embark on a capital spending spree in the next year, fueled by a provision in the recently-passed U.S. tax bill that rewards investment in new projects, said energy industry lobbyists and analysts. On Wednesday, Congress gave final approval to the biggest overhaul of the U.S. tax code in 30 years, the first major legislative victory for President Donald Trump since he took office.
