ENVIRONMENTAL MARKETS
DOT has released a rulemaking proposal for safe rail transportation of flammable material based on new Bakken crude oil data. On July 23, 2014, the Department of Transportation (DOT) released a rulemaking proposal to improve rail transportation safety for crude oil, ethanol, and other flammable materials. The proposal includes a Notice of Proposed Rulemaking (NPRM)…...
NASA has launched a new mission to measure global distribution of carbon dioxide sources and sinks. On July 2, 2014, the National Aeronautics Space Administration (NASA) launched the Orbiting Carbon Observatory-2 (OCO-2) dedicated to study the Earth’s carbon dioxide (CO2) sources and sinks. The observatory, launched on a United Launch Alliance Delta II rocket from…...
The Supreme Court has ruled that EPA exceeded its statutory authority in interpreting Clean Air Act requirements by requiring permits based solely on GHG emissions. On June 23, 2014, the U.S. Supreme Court ruled that the Environmental Protection Agency’s (EPA) greenhouse gas (GHG) emissions regulations for new motor vehicles did not automatically trigger permitting requirements…...
California and Quebec have announced plans to hold the first joint carbon auction under their linked emission trading programs in November. On June 3, 2014, the California Air Resources Board (CARB) and Quebec’s Ministry of Sustainable Development, Environment and the Fight against Climate Change (MDDELCC) announced plans to conduct a joint carbon allowances auction under…...
The EPA stressed State flexibility in its Clean Power Plan to reduce emissions 30 percent by 2030. Overview On June 2, 2014, the U.S. Environmental Protection Agency (EPA) proposed its Clean Power Plan to set carbon pollution guidelines for existing power plants and emission standards for modified and reconstructed power plants. The proposal is key…...
The 24th RGGI carbon auction sold allowances at $5.02 each, generating approximately $90.67M. On June 6, 2014, the nine member states of the Regional Greenhouse Gas Initiative (RGGI) released the results of their 24th carbon auction held on June 4. Auction 24 offered 18,062,384 allowances at a reserve price of $2.00 each. All allowances sold at…...
EPA has released its Clean Power Plan proposal, outlining the first emission guidelines for existing fossil fuel-fired power plants, with a goal to reduce power sector emissions by 30 percent below 2005 levels by 2030. On June 2, 2014, the Environmental Protection Agency (EPA) released the Clean Power Plan proposal to address greenhouse gas emissions…...
The New York State Reforming the Energy Vision (REV) initiative aims to answer the question of how to proceed with New York’s energy future in the face of aging electric generating plants and the need for a more resilient energy infrastructure. Overview The initiative – announced by Governor Cuomo in April 2014 – tasks the…...
California’s seventh quarterly carbon auction drew strong market participation with all Current 2014 allowances sold. On May 21 2014, the California Air Resources Board (CARB) released results of its seventh quarterly carbon auction held on May 16, 2014. CARB offered allowances under Current Auction (2014 vintage allowances) and Advance Auction (2017 vintage allowances) for a…...
Multiple energy industries rely on federal tax incentives to spur private investment in commercializing renewable technologies. However, the periodic expirations of these tax credits have led to business uncertainty and an inability to make long-term planning decisions. The most recent Senate extender bill – the Expiring Provisions Improvement Reform and Efficiency (EXPIRE) Act of 2014…...
EPA’s proposed update for petroleum refinery emission standards includes benzene concentration monitoring for the first time. On May 15, 2014, the Environmental Protection Agency (EPA) issued a proposed rule updating toxic air pollution standards for petroleum refineries located near neighborhoods. It is the first EPA proposal requiring monitoring of air concentrations for benzene around fence…...
In 2013, New York Power Authority (NYPA) produced approximately 27.8B kilowatt-hours, approximately 20 percent of the state’s power. Approximately 70 percent of this power came from clean, renewable hydropower. NYPA, the nation’s largest state-owned power organization, is at the forefront of innovative energy, environmental, and economic development initiatives. As a leading provider of low-cost electricity,…...
