Politics

Leviathan on Hold Pending Israeli Export Policy

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Appraisal drilling at the massive Leviathan gas field offshore Israel has led to an increase in its estimated resources, but development remains on hold until the country’s government grants approval for liquefied natural gas (LNG) exports.

The Noble Energy-led consortium developing Leviathan has boosted estimated gross mean resource by a trillion cubic feet (tcf). “We finished an appraisal well in the first quarter at Leviathan, which increased our gross mean resource estimate at the field to 18 tcf,” said Noble Energy Chief Executive Chuck Davidson during the company’s first-quarter earnings call on Thursday. Keep reading →

 /  Published April 26, 2013 at 8:30 AM

Pressure Mounts on US to Export Natural Gas

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As the U.S. produces more of its own energy, pressure is mounting on the federal government to move quickly to export its natural gas bounty-a move that has encountered stiff resistance from some energy market players.

Natural gas, an abundant fuel source that is cheaper and cleaner than standard gasoline, is increasingly seen as a successor to diesel and regular gas, particularly as the world’s largest economy produces more of it. Keep reading →

 /  Published April 25, 2013 at 2:00 PM

Mayor Bloomberg Speaks at Columbia University Center on Global Energy Policy Launch

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New York City – the world’s energy finance capital and one of the world’s largest commodity trading marketplaces – is a fitting location for the Center on Global Energy Policy. As part of Columbia University’s School of International and Public Affairs, the center will seek to “provide independent, balanced, data-driven analysis to help policymakers navigate the complex world of energy.”

At Wednesday’s launch event, New York City Mayor Michael Bloomberg was joined by energy experts and US government officials, who helped officially inaugurate the new energy policy initiative. Keep reading →

 /  Published April 25, 2013 at 11:15 AM

Video: Sally Jewell Begins Tenure as US Interior Department Secretary

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In this latest installment of the US Department of Interior’s weekly video series “This Week at Interior,” Sally Jewell speaks about coming on board as the 51st Secretary of the Interior.

The Department manages energy leases on federal land both onshore and offshore, in addition to numerous other energy-related responsibilities. Keep reading →

 /  Published April 22, 2013 at 1:30 PM

Texas Energy Sector: Booming, Contradictory, Promising

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Think of Texas and the mental movie is obvious: old fashioned oil rigs, big hats, big hair, big boots and conservative politics. Not much room for innovation, information technology, renewable energy or energy efficiency efforts in that narrative, but Texas confounds expectations. Keep reading →

 /  Published April 22, 2013 at 11:00 AM

FY 2014 Budget Proposal: Significant Investment in Clean Energy Development

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In his FY 2014 budget proposal, President Obama increases spending on clean energy development, seeking to expedite R&D and boost cost-competitiveness and deployment of clean energy technologies.

President Barack Obama’s FY2014 budget plan released on April 10, 2013, proposes increases in spending for clean energy production and deployment. The budget aims to support cost-competitiveness and deployment of renewable power, electric vehicles, advanced biofuels, innovative manufacturing processes, and energy efficiency in residential and commercial buildings. Keep reading →

 /  Published April 19, 2013 at 1:00 PM

Alaska Legislature Passes Oil Tax Reform Bill

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Alaska’s legislature has given final approval to a bill designed to reform the state’s oil tax structure with significant tax cuts aimed to spur production and new investment.

On April 14, 2013, Alaska’s Legislature passed Senate Bill 21, an oil-tax reform bill aimed to encourage industry production and investment. The approval came on the final day of the 90-day legislative session after the Senate accepted amendments made by the House. The Senate passed the bill by a vote of 12-8, and the House passed its version by a vote of 27-12. Keep reading →

 /  Published April 18, 2013 at 1:30 PM

Government Policy Can Help Innovate the Path to a Clean Energy Future

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The key to broader penetration of solar energy depends on access to capital markets and innovative financial structures that can reduce the cost of capital for project finance as well as increase the investor base beyond the traditional tax-equity driven investors. There is a strong case for the DOE to establish the Advancd Research Project Agency-Capital (ARPA-C) that will function to support the broader adoption and commercialization of renewable energy through mechanisms, including credit enhancment and direct equity investments for capital market project aggregation warehouse facilities and securitization transactions.

While ARPA-E has been successful for the deveopment of new renewable technologies, the renewable sector can benefit from the expansion of ARPA-E to include capital to catalyze the breakthroughs for financial innovations. ARPA-C innovations can help bridge the funding gap that challenges renewable energy growth by providing structural support for renewable energy projects to develop capital markets solutions. Capital Markets structures can help reduce the total installed cost of solar electricity significantly – and combined with other DOE initiatives could help make solar power cost-competitive without additional subsidies. The Obama adminstration outlined in the March 20, 2011 publication “Blueprint for a secure energy future”, three major goals : Keep reading →

 /  Published April 17, 2013 at 2:30 PM

Devon Confident on Keystone XL Oil Pipeline

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Devon Energy chief executive John Richels is confident that US President Barack Obama’s administration will approve the the Keystone XL pipeline, but he expects the gap between prices for Canadian heavy oil and US benchmark West Texas Intermediate (WTI) to narrow even if the pipeline never gets built.

“Keystone XL is going to be approved,” Richels told attendees of the Independent Petroleum Association of America’s Oil and Gas Investment Symposium in New York on Tuesday. “From a national point of view it makes no sense for the President not to approve that, and buy more oil from Venezuela and the Middle East.” The Keystone XL pipeline, as envisaged, would transport up to 830,000 barrels per day of Canadian oil from Alberta to US refineries. Keep reading →

 /  Published April 17, 2013 at 10:30 AM

Southwestern Energy on Industry Outlook, EPA Methane Regulations and US LNG Exports

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One of the largest independent natural gas producers in the US, Southwestern Energy, is optimistic about the US natural gas industry outlook despite anticipated cost increases associated with upcoming EPA rulemaking.

Southwestern President and CEO Steve Mueller said his company was not concerned about fracking regulations, but described methane emissions as a “big concern” when fielding questions from Wall Street analysts at the Independent Petroleum Association of America’s Oil & Gas Investment Symposium in New York on Monday. Keep reading →

 /  Published April 17, 2013 at 8:30 AM
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