Energy quick reads

** U.S. power plant owners warned the Biden administration on Tuesday that its sweeping plan to slash carbon emissions from the electricity sector is unworkable, relying too heavily on costly technologies that are not yet proven at scale.

** Proterra, the electric bus company repeatedly celebrated by President Biden, filed for bankruptcy Monday, blaming various market “headwinds” for its financial struggles. The California-based company filed a voluntary Chapter 11 reorganization under the U.S. Bankruptcy Code in the District of Delaware to “strengthen its financial position.”

** An explosion at the Sherwin Williams plant in Garland, Texas early Wednesday left one person injured.

** The Apache Corp. reports a strong second quarter with drilling and completion efficiencies in the U.S. and Egypt, working capital improvements in Egypt and the appraisal of the Krabdagu oilfield offshore at Suriname. Apache’s U.S. oil production rose by 6 percent from the first quarter “and we are projecting a similar increase in the third quarter.

** Power utilities are expected to add 35.2 gigawatts (GW) of electric generating capacity to the U.S. power grid in the second half of the year, the U.S. Energy Information Administration (EIA) said on Tuesday.

** Houston-based Occidental Petroleum Corp. has raised its full-year production guidance after production volumes in the Permian Basin and Rockies exceeded guidance for the second quarter.

** The international conglomerate, ICL, which has its North American base in St. Louis, won a $197 million competitive grant through the Department of Energy as part of the American Battery Materials Initiative. U.S. Secretary of Energy Jennifer Granholm on Tuesday hailed the company’s investment in a $400 million battery plant in St. Louis as critical to addressing climate change.

** Southwestern Energy’s (SWN) second-quarter net income fell 80% year-over-year as the E&P continued to cut back on operations and focus on strengthening its balance sheet and debt reduction.

** U.S. , D-W.Va., says the Federal Energy Regulatory Commission (FERC) has agreed to his request to evaluate the impact of “unreasonable power plant regulations” on the nation’s electrical grid.

** Former Vice President Mike Pence on Tuesday outlined his energy policy plan with the goal to overtake China as the world’s top energy producer by 2040. The Republican presidential candidate’s energy proposal includes allowing new drilling on federal lands, cutting permitting time in half, removing restrictions on natural gas production and replenishing the Strategic Petroleum Reserve.


** China’s exports tumbled by 14.5% in July, adding to economic woes and likely to affect the price of crude oil.

** European natural gas jumped the most in almost two months as risks to LNG supplies mounted amid the possibility of worker strikes at some facilities in Australia.

** U.S. energy supplier New Fortress Energy on Tuesday said it intends to start operations at the first of three planned floating LNG plants in Altamira, Mexico, in September, in the country’s first production of the super-chilled gas.

** Brazil has the potential to become one of the major global players in sustainable aviation fuel (SAF), a Boeing executive said on Tuesday, as the sector attempts to meet its ambitious goal of reaching net-zero carbon emissions by 2050.