OIL
EPA Regulations Could Add Costs to Constrained Industry On January 14, 2015, the Environmental Protection Agency (EPA) outlined measures to reduce methane emissions and volatile organic compounds (VOCs) in the oil and natural gas (O&G) industry, with a new goal to reduce methane emissions by 40-45 percent by 2025 from 2012 levels, despite methane reductions…...
The EPA has proposed revisions to dispersant and bioremediation efficacy and toxicity testing protocols based on lessons learned from the 2010 Deepwater Horizon oil spill. On January 13, 2015, the Environmental Protection Agency (EPA) proposed amendments to Subpart J of the National Oil and Hazardous Substances Pollution Contingency Plan (NCP) requirements regarding use of dispersants…...
ISO-NE’s current Winter Reliability Program boasts increased fuel and resource availability through a restructured and expanded compensation structure. On January 12, 2015, ISO New England (ISO-NE) released a report on the resource participation of its 2014/2015 Winter Reliability Program (WRP), a temporary out-of-market solution to maintain electric system reliability. ISO-NE expressed confidence that a diverse…...
The DOE has announced $125M OPEN solicitation through ARPA-E to catalyze the advancement of transformational energy technologies. On January 7, 2015, the Department of Energy’s (DOE) Advanced Research Projects Agency – Energy (ARPA-E) issued its third OPEN funding opportunity announcement (FOA) – OPEN 2015 – for up to $125M to support potentially disruptive new technologies…...
Approval of the project would ease transportation constraints to refiners and decrease reliance on foreign imports, but would have minimal impact on benchmark WTI prices. While the U.S. House of Representatives passed a Keystone XL approval bill quickly last week under suspension of the rules by a two-thirds majority vote, the Senate companion bill will…...
The EPA Clean Power Plan and new generation source emission rule finalization to mid-summer 2015 pushes back compliance deadlines. On January 7, 2015, the Environmental Protection Agency (EPA) announced a revised schedule to finalize rulemakings for power plant emission standards under its proposed Clean Power Plan. The EPA intends to finalize the rules by mid-summer…...
Benchmark crude oil price declines may threaten domestic producers’ continued production growth. On January 5, 2015, the Energy Information Administration (EIA) released a report — drawing from the S&P Goldman Sachs Commodity Index (GSCI) — showing that energy commodity prices recorded the largest declines in 2014 compared to non-energy commodities. Notably, the GSCI’s energy component…...
$14.5M in funding supports market-ready emissions reduction technologies and is part a larger pool of more than $400M of Regional Greenhouse Gas Initiative (RGGI) proceeds that could help moderate future RGGI auction prices. On December 30, 2014, the New York State Energy Research and Development Authority (NYSERDA) announced $14.5M in funding to support market-ready technologies…...
A federal appeals court has rejected portions of revisions to EPA’s 2008 ozone rule that would delay compliance deadlines and revoke transportation conformity requirements. On December 23, 2014, the U.S. Court of Appeals for the District of Columbia Circuit vacated portions of the Environmental Protection Agency’s (EPA) 2008 National Ambient Air Quality Standards for ground-level ozone. The court…...
EPA’s Clean Power Plan, regional programs, and continued solar installation growth aim to improve state-level resource and grid reliability. The proposed Clean Power Plan and regional reliability programs will continue to influence an energy mix shift and electric system improvements in the coming years. The energy mix shift is also being pushed by fuel and…...
The continued increase in rail transportation of U.S. crude oil reflects rising production, which reached 8.5 million bbl/d in June 2014, the highest since July 1986. On December 24, 2014, the Energy Information Administration (EIA) released a report showing that the amount of U.S. crude oil and refined petroleum products transported by rail increased by…...
Demand response (DR) performance in wholesale power markets has improved over the past six years, in part as a result of multiple FERC Orders. Removal of DR from organized electricity markets would favor generators through increased sales; this could lead to higher associated emissions and peak power prices. The Solicitor General has until January 15 to file…...