After Nevada lithium deal GM looks for other sources of minerals to supply EVs
General Motors plans to increase its North American investment in lithium and other minerals that are used in the production of electric vehicles, after increasing its investment to almost $1 billion in a Nevada mining operation earlier this week. The U.S. carmaker announced on Wednesday that it will form a joint-venture with Lithium Americas in order to develop the largest lithium mine in North America, the Thacker pass lithium mine. The investment by GM in the project has been increased to $950 millions from its initial investment of $325 million announced last year. The automaker also gets a stake in the mine, and its production rights are doubled to 20 years.
US mineral projects close down government loans in fear of Trump
U.S. battery and miner recyclers have been rushing to close billions-dollar government loans before January, out of fear that the former president Donald Trump, if elected, would block funding necessary to boost American production of vital minerals for energy transition. The falling prices of lithium, nickel, and other minerals this year, along with lower than expected EV sales have scared private financiers. This has put the conservative mining industry into an unusual position, where it needs Washington's help to grow, and counter what is perceived by the West as China's manipulation of the market. Under the leadership of President Joe Biden's Loan Programs Office, the U.S.
Biden administration finalizes the solar lands plan and touts progress
The administration of U.S. president Joe Biden announced on Thursday that it had finalized plans to expand solar power on federal lands across 11 western states. This is part of an overall push to accelerate the permitting and construction process for large infrastructure projects. The White House is looking to speed up the approval of projects ranging in scope from wind and solar farms to power transmission as part of its efforts to combat climate change and decarbonize the energy sector. It also wants to promote the "Investing in America' agenda in advance of the November election. The U.S.
EPA Announces Funding to Reduce Diesel Emissions
Preference given to fleets in areas facing air quality challenges. The U.S. Environmental Protection Agency (EPA) announced the availability of grant funding to modernize the nation’s diesel fleet by retrofitting or replacing vehicles with cleaner, more efficient diesel engines. EPA anticipates awarding approximately $40 million in Diesel Emission Reduction Program (DERA) grant funding to eligible applicants, subject to the availability of funds. “These grants will incentivize improvements to aging diesel fleets and improve air quality throughout the country,” said EPA Administrator Scott Pruitt.
U.S. Wind Firms Cheer Senate Tax Bill Provisions
The U.S wind energy industry on Friday cheered a Senate tax proposal that, unlike the House version unveiled last week, preserves the tax credit that helps wind farms compete with plants fired by fossil fuels. The Senate plan brought relief to an industry that has spent the last week warning lawmakers on Capitol Hill that changes to the credit would put $50 billion in planned investment at risk. However, if the House and Senate pass their differing proposals on the Republicans' broad tax-cut plan, a House-Senate committee will need to reconcile the differences and both chambers will have to approve the resulting compromise legislation…
U.S. Interior Chief Seeks Changes at U.S. Monuments
The head of the U.S. Department of the Interior urged President Donald Trump to lift restrictions on activities such as logging and mining in or to shrink the footprints of 10 national monuments, according to the Washington Post. The Post, citing a copy of the recommendations, said late on Sunday that U.S. Interior Secretary Ryan Zinke had recommended reducing boundaries for Utah’s Bears Ears and Grand Staircase-Escalante, Nevada’s Gold Butte and Oregon’s Cascade-Siskiyou. Zinke also called for relaxing current restrictions within some of the national monuments' boundaries for activities such as grazing…
Wind, Solar Do Not Harm Power Grid Reliability -Draft US Study
The growth of renewable power, including wind and solar, has not harmed the reliability of the U.S. electricity grid, according to a draft U.S. Department of Energy study, echoing the findings of grid operators across the country. The conclusion of the draft, dated July and viewed by Reuters, could ease fears in the renewable energy industry that the widely anticipated study would be used by President Donald Trump's administration to form policies supporting coal plants at the expense of wind and solar. "Numerous technical studies for most regions of the nation indicate that significantly higher levels of renewable energy can be integrated without any compromise of system reliability…
Buffett Bets Big on Energy with $9 Bln Oncor Buy
Warren Buffett's move to spend $9 billion on his largest energy sector acquisition reflects his long-standing drive to diversify his Berkshire Hathaway Inc and deepens his commitment to electricity as a means to boost profit. Berkshire said on Friday that its Berkshire Hathaway Energy unit will buy a reorganized Energy Future Holdings Corp to get access to Oncor Electric Delivery Co, Texas' largest electricity transmission company. The all-cash purchase reflects a bet by Buffett that he can do what two prior suitors could not: convince Texas regulators that a takeover is in the public interest and deserves approval.
New Executive Orders Loom on Environment, Energy
U.S. President Donald Trump this week will sign new executive orders before he completes his first 100 days in office, including two on energy and the environment, which would make it easier for the United States to develop energy on and offshore, a White House official said on Sunday. "This builds on previous executive actions that have cleared the way for job-creating pipelines, innovations in energy production, and reduced unnecessary burden on energy producers," the official said on condition of anonymity. On Wednesday, Trump is expected to sign an executive order related to the 1906 Antiquities Act…
Company to Pay $9.5 Mln for Actions Leading to US Gulf Explosion
Wood Group PSN Inc., a Nevada corporation headquartered in Houston, was ordered to pay $9.5 million in two separate cases involving its conduct in the Gulf of Mexico. Specifically, Wood Group PSN was ordered to pay $7 million for falsely reporting over several years that personnel had performed safety inspections on offshore facilities in the Gulf of Mexico in the Western District of Louisiana, and $1.8 million for negligently discharging oil into the Gulf of Mexico in violation of the Clean Water Act after an explosion on an offshore facility in the Eastern District of Louisiana…
Trump Interior Pick to Clarify Stance on Federal Land Development
A U.S. Senate committee will grill President-elect Donald Trump's pick to run the Department of the Interior, Representative Ryan Zinke of Montana, during a confirmation hearing on Tuesday that was likely to focus on how he would balance development and conservation on America's vast public lands. The former Navy SEAL commander, an avid hunter and angler, emerged as a surprise pick to head the department, in part because he has embraced federal stewardship of national parks, forests and refuges - rejecting the Republican Party's official position to sell off acreage to states that might prioritize drilling, mining and cattle grazing in some areas.
Trump Interior Pick to Discuss Federal Land Policy
A U.S. Senate committee will grill President-elect Donald Trump's pick to run the Department of the Interior, Congressman Ryan Zinke of Montana, during a confirmation hearing on Tuesday that is likely to focus on how he would balance development and conservation on America's vast public lands. The former Navy SEAL commander, an avid hunter and angler, emerged as a surprise pick to head the department in part because he has embraced federal stewardship of national parks, forests and refuges - rejecting the Republican party's official position to sell off acreage to states that might prioritize drilling, mining and grazing in some areas.
Trump Calls for More Drilling in National Parks
President-elect Donald Trump aims to open up federal lands to more energy development, tapping into a long-running and contentious debate over how best to manage America's remaining wilderness. The U.S. government holds title to about 500 million acres of land across the country, including national parks and forests, wildlife refuges and tribal territories stretching from the Arctic to the Gulf of Mexico. They overlay billions of barrels of oil and vast quantities of natural gas, coal, and uranium. With Trump poised to take office on Jan. 20, energy companies…
Obama Places 1.6 Million Nevada, Utah Acres Off-Limits to Oil & Gas
President Barack Obama on Wednesday designated over 1.6 million acres of land in Utah and Nevada as national monuments, protecting two areas rich in Native American artifacts from mining, oil and gas drilling. "Today's actions will help protect this cultural legacy and will ensure that future generations are able to enjoy and appreciate these scenic and historic landscapes," Obama said in a statement. Obama used the 1906 Antiquities Act to protect 1.35 million acres of federal land at Bears Ears in Utah and 300,000 acres at Gold Butte outside of Las Vegas, Nevada - a move that will be difficult for President-elect Donald Trump to reverse.
Clean Energy Faces Vote in Four State Ballot Initiatives
In addition to picking the next U.S. president on Tuesday, voters in four states will decide on ballot initiatives related to energy and the environment. The results of the initiatives could offer a gauge of Americans' feelings about managing carbon dioxide emissions, regulating solar power, and handling local opposition to hydraulic fracturing. Washington state voters will decide whether to adopt a measure to create the country's first carbon tax. Initiative 732 would slap a $15 price tag on a ton of carbon for utilities and refiners in 2017, with the price rising gradually each year until it reaches $100.
Gigafactory Costs may Exceed Expectations
Tesla Motors Inc said the cost of building and operating the Gigafactory could exceed the company's current expectations. The Gigafactory may also take longer than anticipated to come online, the electric carmaker said in a filing on Friday. Tesla, which is buying solar panel installer SolarCity Corp for $2.6 billion in shares, unveiled the massive battery factory, the Gigafactory, in Nevada last week. (Reporting by Sweta Singh in Bengaluru; Editing by Sriraj Kalluvila)
Solar Shares Sell off after SolarCity Forecast
After their hot rally at the end of last year, shares of solar energy firms have turned ice cold as concerns about slower growth and regulatory uncertainties plague the group. SolarCity led the sell-off on Tuesday after the company cut its 2016 forecast for solar panel installations late on Monday and posted a larger-than-expected quarterly loss. The stock, down 25 percent at $16.94, was on track for its worst decline in three months and is down 66.8 percent for the year. Shares of Sunrun lost 12.1 percent to $6.49 and are down 45 percent for the year.
Rubio Taps Outgoing Devon Exec for Energy Policy Advice
Republican presidential candidate Marco Rubio has picked Devon Energy Corp co-founder Larry Nichols to help oversee his campaign's stance on energy issues, Rubio spokesman Jahan Wilcox said on Monday. Rubio, a U.S. Nichols, who stepped down as Devon's CEO in 2012 after more than 30 years but stayed on executive chairman, is set to fully retire this year from the Oklahoma-based oil producer. Like other powerful voices in the oil and gas industry, Nichols last year echoed calls to lift a 40-year-old federal ban on crude oil exports. Nichols is set to host a Feb. 26 fundraiser for Rubio in Oklahoma, a key U.S.
California Decision Looms on Rooftop Solar Energy
California, which boasts more than half of the households with solar panels in the United States, will decide on Thursday whether to stick with a policy that has allowed rooftop systems producing electricity to flourish or to implement reforms that would make it more expensive to go solar. The decision by California's Public Utilities Commission is being watched far beyond the Golden State, which has long led the nation on renewable energy policies. Though solar still makes up a small portion of the nation's power generation, government mandates to reduce…
Glencore's Debt-Reduction Plan Includes Output Cut
Firm to cut 2016 oil production by 20 pct as prices slide. Glencore has taken another step to reduce its debt by selling $500 million of future precious metals output, and deepened oil production cuts after prices fell further. Glencore said on Thursday it planned to produce about 8.5 million barrels of oil in 2016, down 20 percent from last year and lower than the 9.6 million it had estimated in December. Brent crude prices have dropped nearly a fifth so far this year, after sliding 35 percent in 2015 due to a glut of supply and concern about weaker demand.
