While oil prices are down after OPEC refused to curtail production, it won’t have a big impact on output from U.S. shale producers, at least for the near term, IHS’ Dan Yergin told CNBC on Monday. “There’s a lot of momentum in the system so I think you don’t really see the big impact of… Keep reading →
On 24 November 2014 the Australian Parliament passed the Carbon Farming Initiative Amendment Bill 2014 (Bill) which puts in place the Emissions Reduction Fund (ERF). The ERF is the cornerstone of the Australian Government’s Direct Action Plan climate change policy for the reduction of greenhouse gas emissions. It will provide AUD2.55 billion in financial incentives over four years for companies to voluntarily reduce emissions. The Government says its Direct Action Plan climate change policy will mean that Australia will meet the five percent emissions reduction target by 2020.
An Oil Boom is a Power Boon U.S. News (Lamont Colucci): OPEC met on Nov. 27, and openly recognized that the United States’ oil technological revolution – driven by enhanced oil recovery methods including hydraulic fracturing (known as fracking) and horizontal drilling – has undermined the cartel’s economic and political power. This constitutes one of the… Keep reading →
The EPA has issued an interim rule delaying the CSAPR compliance deadlines by three years consistent with the recent court-ordered schedule. On November 21, 2014, the Environmental Protection Agency (EPA) issued an interim final rule amending the Cross-State Air Pollution Rule’s (CSAPR) compliance deadlines to align with the October 23 ruling – of the U.S. Court… Keep reading →
This week, following the successful hosting of the G20 summit, the Australian Federal Government signed a declaration of intention with China to bring into force a China-Australia Free Trade Agreement (ChAFTA). The agreement comes after a decade of negotiations between the two countries and is expected to be worth up to AUD18 billion to the Australian economy over the next few years. The agreement will ensure 85% of all Australian exports will enter the Chinese market tariff-free, rising to 93% within four years and 95% once it is fully operational.
Ed. note: This is a new weekly column by Elie Mystal, Managing Editor of http://www.atlredline.com Above the Law Redline. This space will focus on the laws that exist, should exist, and should be put out of their misery. OVER-REGULATED Gaseous Emissions: The Bureau of Land Management is trying to figure out whether to tax the venting and… Keep reading →
Is It Time for the U.S. to Lift Its Restrictions on Oil Exports? Wall Street Journal (Jason Bordoff): It’s a whole new oil world for the U.S. After decades of declining domestic oil production, the country is in the middle of an unexpected boom. Driven by new technology that reaches previously inaccessible reserves, production has soared… Keep reading →
Last week, NRG Energy announced plans to reduce CO2 emissions 50% by 2030 and 90% by 2050. And this reduction is not from a 1990 or 2005 baseline; it is from 2014 emissions. NRG’s statement indicated that it had already reduced emissions by 40% since 2005. By my math, that means that the 2030 and 2050 reductions would be 70% and 94%, respectively, below 2005 emissions.
While the purpose of multilateral negotiations with Iran is to reduce proliferation concerns, successful talks may in fact accelerate nuclear plans in the Gulf states and Jordan. In April 2009, King Abdullah of Saudi Arabia famously told U.S. special envoy Dennis Ross that “if [the Iranians] get nuclear weapons, we will get nuclear weapons.” Such… Keep reading →
This is the third in a series of six Q&As with Baker Botts partners addressing the most significant developments in their practice areas this year, as well as their outlook for 2015. The Q&As will be posted throughout the remainder of the year.
Bill Bumpers is Head of the Global Climate Change practice group at Baker Botts. His practice focuses on the Clean Air Act and climate change issues.
