Natural Gas Inventory Exceeds Five-Year Average for First Time Since Nov. 2013 EIA Today in Energy: Working natural gas in storage has surpassed five-year average levels for the first time in more than a year. At 2,157 billion cubic feet (Bcf) as of February 13, stocks are 58 Bcf greater than the five-year average. Recent… Keep reading →
Some interesting perspective on New York’s decision to ban hydraulic fracturing – from neighboring Pennsylvania, where safe fracking has lifted the state economy while directly benefiting cities and towns all across the commonwealth. Jeffrey Sheridan, press secretary for Governor-elect Tom Wolf’s transition team (to the Philadelphia Business Journal): “Governor-elect Wolf opposes a ban, and he… Keep reading →
Well, that’s actually a hybrid quote from opposite ends of the fracking spectrum that came alive today when New York Governor Andrew Cuomo announced the state would move to ban hydraulic fracturing. “Today Governor Cuomo did the right thing for New Yorkers by listening to experts and issuing a ban on fracking. This victory for… Keep reading →
Plans to turn Philadelphia city into an “energy hub” where natural gas from the Marcellus Shale would be pumped, processed, exported and used as fuel by manufacturers, were given a high-profile sales pitch at a one-day conference in the city last Friday. The Greater Philadelphia Chamber of Commerce and Philadelphia Energy Solutions, a local refiner,… 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.
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 →
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.
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.
Federal elections held nationwide on November 4 ushered in Republican control of the U.S. Senate and expanded the Republican majority in the U.S. House of Representatives. The Republicans now hold majorities in both houses of Congress, but because their majorities will not overcome a veto by President Barack Obama, a Democrat, Republicans will not wield unlimited legislative power. Although Congress is likely to remain deadlocked on major issues, the election may signal significant shifts in priorities for liquefied natural gas (LNG) export policies in the 114th Congress.