Other energy quick reads

** The Biden administration plans to roll out executive orders and climate mandates affecting automobiles and trucks to reach a 50% reduction in emissions by the end of the decade, according to Special Presidential Envoy for Climate John Kerry.

** A 70-car train hauling hazardous materials derailed in North Dakota late Sunday, officials said. The Canadian Pacific train derailed around 11:15 p.m. about a mile southeast of Wyndmere in Richland County, Canadian Pacific said in a statement. No injuries were reported.

** Ormat Technologies plans to sue the Biden administration over its decision to protect an endangered toad and potentially derail the company’s proposed geothermal plant in Nevada.

** California lawmakers advance a bill that would authorize regulators to penalize oil companies for price-gouging.

** LG Energy plans to build a $5.6-billion complex in Arizona to manufacture batteries for electric vehicles and energy-storage systems.

** Ford expects its electric vehicle business to lose $3 billion this year, though the company also expects its first generation of EVs to be profitable by the end of 2024.

** A proposed electric vehicle battery plant in Michigan is facing growing scrutiny from state lawmakers and local residents over the company’s ties to a Chinese corporation. 

** Louisiana Gov. John Bel Edwards announces the state has plugged more than 100 abandoned oil wells during the last two months, with thousands more to go.

**The Treasury Department said it will release proposed guidance this week for domestic sourcing requirements for electric vehicles to qualify for tax credits provided by the Inflation Reduction Act. The delayed guidance for the $7,500 tax credits was supposed to be released at the end of 2022, but the Treasury temporarily waived the rules and pushed the release date to the end of March.

** Property and casualty insurer Chubb said it will provide coverage only to oil and gas project clients that can prove they have measures in place to reduce methane emissions, such as detecting methane leaks and removing non-emergency venting.



** United Nations Secretary-General Antonio Guterres is calling on rich countries and developing nations to aim for net-zero emissions by as early as 2040 and 2050, respectively, a decade earlier than most targets.

** Venezuela’s attorney general said Saturday that 21 people, including senior officials in the government of President Nicolás Maduro and business leaders, have been arrested in connection with a corruption scheme involving international oil sales.

** Iraqi officials announced Saturday that Baghdad has won an international arbitration case that will halt oil exports from the semi-autonomous Kurdish region by way of Turkey.

** A Vietnamese ship monitored a Chinese Coast Guard vessel on Saturday in a Russian-operated gas field in Vietnam’s South China Sea exclusive economic zone (EEZ), data show – the latest Chinese patrol in a pattern stretching more than a year.