Democratic Sen. Mary Landrieu, the new chairman of the Senate Committee on Energy and Natural Resources, is using her political experience and connections to help her get re-elected in November. “Everywhere she goes, Landrieu reminds voters that she has it — the clout to ‘deliver for Louisiana,’ the clout to take on Obama and get… Keep reading →
IEA’s latest Monthly Oil Market Report called for Opec to maintain current production levels of around 30 mmb/d amid developed world demand resurgence that has depleted OECD oil inventories by 1.5 mmb/d in the last three months of 2013, the steepest quarterly decline since 1999. “At this time of year, when the global oil market… Keep reading →
Louisiana Democrat Mary Landrieu took over as head of the influential Senate Energy Committee yesterday, as outgoing Chairman Ron Wyden took the lead role at the Senate Finance Committee, which was vacated when Max Baucus was confirmed ambassador to China. “Landrieu confirmed that her signature bill to expand the amount of federal offshore oil-and-gas royalty… Keep reading →
Iran has agreed to an initial nuclear deal that will involving the country dialing back its nuclear program in exchange for six months of sanctions relief. Iran will gain access to over $4 billion in frozen oil revenues, as well as a suspension of sanctions on petrochemical exports. [Bloomberg] The deal will also “eas[e] of the… Keep reading →
A new revenue-sharing bill – the FAIR Act – would enable coastal states to receive a share of offshore energy revenue and put onshore renewable energy on the same scale as onshore fossil energy to ensure equitable revenue-sharing to encourage clean energy efforts.
On March 20, Senators Mary Landrieu (D-La.) and Lisa Murkowski (R-Alaska) introduced the Fixing America’s Inequity with Revenues (FAIR) Act to provide states with a share of revenue from energy developed on federal land and waters. Under the FAIR Act, coastal states would be entitled to 27.5% of revenue from offshore energy developments, including fossil, wind, and wave energy, and an additional 10% if they establish funds to support clean energy and energy conservation programs. The federal government would receive the remaining 62.55% to address budget deficits. Keep reading →
