U.S. President Donald Trump on March 29 issued a new presidential permit for the long-delayed Keystone Xl oil pipeline, replacing the one granted in March 2017. The move provoked a backlash from conservation groups, which called it an effort to bypass federal environmental laws. The action comes after a court blocked the project in November…
The U.S. District Court for the District of Alaska on March 29 overturned President Donald Trump’s executive order issued in 2017 to undo a ban on oil and gas drilling in most of the Arctic Ocean. The court ruled that only Congress has the authority to revoke the ban imposed by former President Obama in…...
U.S. shale oil production, which became the more common form of oil extraction in 2015, will continue to grow through 2030, ultimately reaching more than 10 million barrels per day compared to 2018’s 6.5 million. Shale oil, also known as tight oil, accounted for 61 percent of total U.S. production in 2018, according to the Energy Information Administration’s Annual Energy Outlook…
The Federal Energy Regulatory Commission on March 21 issued notices of inquiry to gather information on possible improvements to rules governing electric transmission incentives and the agency’s approach to determining the return on equity, or ROE, for setting jurisdictional rates charged by public utilities. Transmission incentives are crucial to spur investment, which can provide benefits,…
The U.S. Bureau of Land Management state offices generated more than $1.1 billion of revenue from oil and gas lease sales during 2018, nearly thrice the previous record of $408 million set a decade ago, according to a Feb. 6 press release. The agency’s New Mexico office held 2018’s biggest lease sale in September, earning…...
New York lawmakers approved a bill on Feb. 5 that would block oil and gas development off the state’s coastline. The legislation would put New York in line with California, New Jersey, and Oregon that have enacted similar measures following the Trump administration’s plan to open up vast amounts of coastal waters to drilling activities. The measure…...
Under current and planned policies, global energy demand is expected to grow by over 25 percent to 2040, requiring an annual investment of more than $2 trillion in new energy supply, according to the International Energy Agency’s World Energy Outlook published on Nov. 13. The agency said that over 70 percent of global energy investments…
The Minnesota Public Utilities Commission on October 26 issued an order approving Enbridge Inc.’s proposed $7-Billion Line 3 replacement project, following a favorable vote in June. The formal ruling, which comes after much deliberation over replacing a 1960s-era line versus limiting environmental risks, opens the door for appealing the decision. Environmental groups like Sierra Club…
Mexican state oil company Pemex placed a bond of $2 billion in the international debt markets in line with operating and marketing measures unveiled in September to lower the company’s budget deficit for this year by about 38 percent, according to the company’s Oct. 16 news release. The bond, with a 10-year maturity period, yields…
President Donald Trump nominated Bernard L. McNamee to the Federal Energy Regulatory Commission for the term ending June 30, 2020, to fill the vacancy resulting from Commissioner Robert Powelson’s resignation in August, according to an Oct. 9 release from the agency. McNamee currently serves as the Executive Director of the U.S. Energy Department’s Office of…
The state of Michigan and Canadian company Enbridge Inc. signed an agreement under which the company would replace the Line 5 petroleum pipeline segment that crosses the Straits of Mackinac with a multi-utility tunnel beneath the Straits, according to an Oct. 3 press release from the Michigan Governor’s office. Enbridge agreed to bear the costs…
The U.S. Interior Department’s Bureau of Safety and Environmental Enforcement on Sept. 28 updated the 2016 well control rule, one of the spate of safety regulations implemented in the wake of the 2010 Deepwater Horizon spill that spewed 4.9 million barrels of oil into the Gulf of Mexico over nearly three months. The agency said…