FOSSIL FUELS

New Bill to End Fossil Fuel Subsidies

A new House Bill would repeal fossil fuel tax breaks and expand fossil fuel companies’ liability for spills and cleanup tasks. On November 21, 2013, Sen. Bernie Sanders (I-VT) and Rep. Keith Ellison (D-MN) introduced the 2013 End Polluter Welfare Act (H.R. 3574) aimed to end fossil fuel subsidies.  The bill would close tax loopholes…...

President Veto Recommended for New Energy Bills

President Obama’s Senior Advisors today recommended he veto two new energy bills which respectively seek to block Interior Department regulations on hydraulic fracturing and speed up oil and gas drilling permits. On November 19th, 2013, the White House Administration issued a pair of statements strongly opposing two new energy bills: (1) H.R. 2728 – Protecting…...

U.S. Crude Oil Production Exceeds Net Imports

An EIA report shows that U.S. monthly crude oil production in October 2013 exceeded net imports for the first time in two decades. On November 13, 2013, the Energy Information Administration (EIA) released its Short Term Energy Outlook, showing that U.S. monthly estimated crude oil production averaged 7.7 million barrels per day (bbl/d) in October,…...

U.S. to be Top Oil Producer by 2016

IEA’s 2013 World Energy Outlook finds technology is opening new oil resources in the U.S., but the Middle East remains key to the longer-term outlook. The International Energy Agency (IEA) today released its annual World Energy Outlook, indicating that “although rising oil output from North America and Brazil reduces the role of OPEC countries in…...

API Proposes Guidelines for Dodd-Frank Disclosure Rule

API’s guidelines for SEC’s Dodd-Frank disclosure rule intend to protect energy companies’ competitiveness without undermining the rule’s objectives. In its letter, API pointed out SEC’s flexibility in complying with the disclosure mandate, as outlined in the Court ruling, without undermining the statute’s objectives.  Specifically, API suggested a compilation model of disclosure, whereby the Dodd-Frank requirements…...

DOE Announces $84M in Funding to Advance CCS Technologies

DOE has announced new research projects to facilitate efficient and cost-effective application of carbon capture and storage (CCS) technologies in power plants.   On November 7, 2013, the Department of Energy (DOE) announced $84M in funding to advance CCS technologies.  The funding, supplemented by cost-share from industry, university, and research organizations, will support 18 projects…...