Senators Hold News Conference To Urge Obama To Approve Keystone Pipeline

(L-R) U.S. Rep. Lee Terry (R-NE), Sen. Roy Blunt (R-MO), Senate Minority Leader Sen. Mitch McConnell (R-KY), and Sen. John Hoeven (R-ND) attend a news conference September 19, 2013 on Capitol Hill in Washington, DC. The news conference was called to press the Obama Administration to approve the Keystone XL pipeline project.

Canadian government negations with energy industry representatives regarding a carbon emissions mitigation strategy have reportedly been underway for the past two years with little to show for the effort. A climate plan could improve the Keystone XL pipeline’s chances of being approved by the US government.  [Reuters]

The boom and bust cycle that characterizes PTC-dependent US wind power projects looks set to continue, as the credit is once again scheduled to expire at year end. As part of last year’s slightly delayed extension, the regulation was altered to allow projects under construction by the end of the year to qualify, as opposed to only those projects completed and placed into service being eligible for the tax credit. Nevertheless, the PTC’s renewal prospects appear slim this time around and expiration would likely result in vastly fewer megawatts of wind power installed in 2014. [The Energy Collective]

Japan’s current account balance recorded a deficit due to hefty crude oil and LNG imports and the situation was compounded by a weakened yen. Japan’s fuel import requirements have been unusually high as the country’s fleet of nuclear reactors remain offline. Analysts predict the trade deficit could persist for some time. [Japan Times]