The eighth quarterly auction of greenhouse gas allowances under Washington’s cap-and-invest program sold all allowances offered, with current vintage allowances settling at $40.26 per allowance, which is nearly 35 percent higher compared to the previous auction, according to the results released on Dec. 11 by the state’s Department of Ecology. The surge in auction prices…...
The California Energy Commission on Dec. 11 approved a $1.4 billion plan to invest in zero-emission vehicle infrastructure in the next four years through the state’s Clean Transportation Program. The plan, aimed to help install electric vehicle charging systems for nearly 17,000 light-duty EVs, will distribute the funding through competitive grants. The funding will support…...
Increasing well productivity is assisting 34 publicly traded U.S. oil exploration and production companies lower production expenditures on a per barrel basis and making cash reserves available for uses such as share repurchases and dividends, according to a Dec. 11 report published by the U.S. Energy Information Administration. During the January to August 2024 period,…...
The U.S. Environmental Protection Agency on Dec. 11 announced over $735 million in funding through its first Clean Heavy-Duty Vehicles Grant Program to deploy over 2,400 heavy-duty zero-emission vehicles (ZEVs) across several states and Tribal Nations. The agency made 70 tentative selections, covering nearly 30 states and three tribal nations to receive funding for heavy-duty…...
The U.S. Energy Department on Dec. 10 provided clarity regarding the status of various applications to export Liquefied Natural Gas to non- Free Trade Agreement countries. Of particular interest have been the Venture Global CP2 LNG and Commonwealth LNG applications. The Biden Administration on Jan. 26 announced a temporary pause on all pending applications seeking…...
The U.S. Energy Department on Dec. 10 announced the selection of six companies to procure domestic Low-Enriched Uranium or LEU. The department will sign contracts with American Centrifuge Operating LLC, General Matter Inc., Global Laser Enrichment LLC, Louisiana Energy Services LLC, Laser Isotope Separation Technologies Inc., and Orano Federal Services LLC. The minimum value of…...
Five states accounted for over 70 percent of the all-time high of 113.1 billion cubic feet per day (Bcf/d) of U.S. marketed natural gas production during 2023, according to an Dec. 10 report published by the U.S. Energy Information Administration. The state of Texas accounted for 28 percent of the total U.S. marketed natural gas…...
The U.S. Energy Department on Dec. 10 announced $52 million in funding for six university and industry projects to develop purpose-grown energy crops with low carbon intensity intended for biofuels like Sustainable Aviation Fuel, or SAF, and other bioproducts. These initiatives will bolster the domestic supply chain of alternative carbon sources vital for producing biofuels…...
The U.S. Energy Department on Dec. 9 announced a conditional commitment for a loan guarantee of up to $305.54 million for Nostromo Energy’s Project IceBrick, which involves thermal energy storage installations at commercial buildings in California. During its lifetime, the project could help California’s commercial buildings avoid around 500,000 tonnes of carbon emissions. Once operating…...
The U.S. Energy Information Administration issued a report on Dec. 9 discussing the ongoing challenges in California’s fuel market following the enactment of a new law granting regulators authority over petroleum inventory levels, along with the announced closure of Phillips 66’s Wilmington refinery. California Governor Gavin Newsom signed a bill into law on Oct. 14…...
The U.S. Department of the Treasury and the Internal Revenue Service have released final rules for the Section 48 Investment Tax Credit, or ITC, providing clarity and certainty for clean energy development to pursue major investments. The final rules clarify specific issues relating to offshore wind, hydrogen storage, co-located energy storage, and geothermal heat pumps…....