The U.S. Energy Department on Jan. 18 approved an exchange of 400,000 barrels of crude oil for release to TotalEnergies’ subsidiary Atlantic Trading and Marketing, the fifth in a series of loans from the US Strategic Petroleum Reserve, or SPR. The exchange program is intended to increase short-term crude supplies in hopes of reducing retail…...
Brent spot prices began at $50 per barrel in January 2021 and climbed to a high of $86 per barrel in October before falling in the final weeks of the year, according to a Jan. 4 report from the U.S. Energy Information Administration (EIA) on crude oil prices recovery last year. The agency highlighted that…...
The U.S. Energy Department on Dec. 2 announced $35 million in funding for technologies that aim to reduce methane emissions in the coal, oil, and natural gas sectors. The department selected 12 projects for the grants under a new program called “Reducing Emissions of Methane Every Day of the Year,” or REMEDY, a three-year research…...
The Biden administration is walking a tightrope on climate action as recent moves in the oil and gas industry challenge its aggressive climate agenda, which calls for net-zero emissions by 2050.
The U.S. Transportation Department’s Federal Motor Carrier Safety Administration on May 9 declared a regional emergency in 17 states and the District of Columbia in response to the unexpected shutdown of the Colonial pipeline system, which transports about 45 percent of fuel consumed on the East Coast. On May 7, the pipeline operator said that…...
Washington is moving expeditiously to implement rules and strategies as the state seeks to achieve carbon-free electricity by 2045 and reduce emissions to net zero by 2050. The state is advancing multiple measures ranging from resource planning rules to establishing a carbon cap-and-trade program, and strengthening auto-emission standards.
The Washington legislature on April 24 passed legislation aimed to reduce greenhouse gas emissions by implementing an economy-wide cap-and-invest system. Upon enactment, Washington will become the second state – next to California – to have a comprehensive carbon-pricing program. The state would auction carbon allowances starting in 2023, aligned with the 2030, 2040, and 2050…...
Texas state lawmakers are exploring solutions to address the issues faced during and after the mid-February winter storm event that caused widespread outages across the state. California, which faced a similar predicament due to an unprecedented heatwave in August 2020, albeit smaller in scale and severity, has advanced measures to ensure reliability this summer.
U.S. President Joe Biden on April 22 announced a new target for the U.S. to reduce economy-wide greenhouse gas emissions by 50-52 percent in 2030 relative to 2005 levels. In January, Biden took action to recommit the U.S. to the Paris Climate Agreement, as part of a series of executive actions reflecting his energy agenda…...
Ongoing state initiatives to transition to a low-carbon future and new actions from the federal level are impacting natural gas utilities’ long-term planning strategies. The challenge for utilities is to adapt to the changing policy landscape, evolving in ways that contribute to decarbonization.