** Sen. Bill Cassidy of Louisiana unveiled an energy policy proposal he equated to the Trump administration’s “Operation Warp Speed” vaccine development program to address soaring energy prices. His proposal included streamlining the permitting process for energy development at agencies such as the Environmental Protection Agency, similar to the regulatory streamlining put in place to rapidly develop the COVID-19 vaccine over 2020.
** California Gov. Gavin Newsom (D) told Californians that he was working on a potential rebate to offset the escalating costs of gas as prices broke historic records across the country Tuesday.
** The Biden administration restores California’s ability to set vehicle emissions standards that are stronger than the federal government’s, reversing a Trump-era rule.
** ConocoPhillips officials continue to investigate the cause of an ongoing underground methane leak at an Alaska oil and gas facility.
** North Dakota could collect $372 million in additional revenue from a price-triggered tax increase on oil producers as oil prices near record highs.
** Energy Secretary Jennifer Granholm urged oil and gas firms Wednesday to hike their production to offset rising energy costs from the Russian import ban. “We are on war footing,” Granholm told energy executives at S&P Global’s CERAWeek reported POLITICO.
** Chevron Phillips Chemical Company will pay $118 million to resolve alleged violations of federal and state air laws at three petrochemical manufacturing sites in Texas, the Justice Department and EPA announced on Wednesday. It will also pay a $3.4 million penalty.
World
** Britain’s Boris Johnson is facing calls to intervene to urge Saudi Arabia to release more oil after the country’s crown prince refused to take a call from Joe Biden, US president.
** Energy Minister Herman Halushchenko suggests “physically and emotionally exhausted” workers are being used to spread a Russian message that civilians and infrastructure are not being endangered in the Putin-ordered “special military operation.”
** Russia has hit back at western sanctions for invading Ukraine by imposing export bans on a string of products until the end of 2022. The ban covers exports of telecoms, medical, vehicle, agricultural, and electrical equipment, as well as some forestry products such as timber.