** Presidio Petroleum LLC is in advanced talks to acquire around 5,000 shale gas wells from U.S. oil producer Exxon Mobil Corp, two people familiar with the matter told Reuters on Monday. Exxon’s XTO Energy unit has been seeking buyers for its holdings in the Fayetteville Shale in Arkansas, part of the company’s drive to raise cash by shedding unwanted assets.
** The EPA just released updated fuel economy standards that are much more stringent than those imposed by the Trump administration in 2020. President Biden’s EPA is drawing the line in the sand at a 40 mpg fleet average by model year 2026 for light duty vehicles.
** The United States is set to become the world’s biggest liquefied natural gas (LNG) exporter in 2022, surpassing Qatar and Australia, and may hold that title for years to come.
** An energy company says it’s considering building a $550 million blue methanol production plant with carbon capture in Louisiana.
** Recently, FedEx took a small step toward completing its large goal of becoming carbon neutral by 2040. The delivery services giant has received its first electric light commercial vehicles (LCV) from BrightDrop, General Motors’ electric delivery and logistics business.
** BP will acquire the remaining stake in its U.S. pipelines partnership BP Midstream Partners LP that it doesn’t already own in a more than $700 million deal, as the energy giant looks to simplify its structure.
** After going a tear inn October in which its stock soared 35%, Tesla stock on Monday slid 3.5% and closed at $899.94. Tesla’s stock is now down 21% in December.
** In an effort to reduce pollution and curb global warming, New Jersey will become the first East Coast state to slowly phase out diesel trucks and replace them with electric vehicles under new rules adopted by the Murphy administration Monday.
** America’s biggest coal mining union is calling on West Virginia Senator Joe Manchin to reconsider his opposition to President Joe Biden’s $2 trillion social and climate spending bill.
** Connecticut utility regulators fine Eversource $1.8 million over illegal, inaccurate marketing materials related to gas hook-ups and street repaving.
World
** The European Commission plans to finish next year its long-awaited rules on whether to label gas and nuclear energy as climate-friendly investments under EU green finance rules, its environment policy chief said on Monday.
** European gas prices hit a new record high on Tuesday after a pipeline that brings Russian gas to Germany switched to flow east, a move the Kremlin said had no political backdrop, while two big German customers said Gazprom was meeting supply obligations.
