** Although the Inflation Reduction Act (IRA), which passed the House of Representatives on Friday, will be by far the largest federal action ever taken to confront climate change, it will fall short of the U.S.’s pledge in the 2015 Paris climate agreement to cut greenhouse gas emissions by 50-52% from 2005 levels by 2030. ** Al Gore’s …
Category: EPA
New Mexico oil and gas group launches fight with EPA over Permian Basin crackdown
The New Mexico Oil and Gas Association has responded to the EPA’s proposed tougher regulations on the Permian Basin where Oklahoma oil and gas companies have major drilling and production operations, with a call to fight the government agency. “The EPA is threatening new regulations that would reduce energy production in the Permian Basin,” …
EPA moves quickly for $4 billion battery plant in Kansas
While the oil and gas industry often criticizes the EPA for its inability to move quickly in acting on fossil fuel permits, such wasn’t the case for the site of a $4 billion battery plant in Kansas—the plant sought by Oklahoma. The Kansas Reflector reported that state and federal environmental regulators approved a change …
No lack of other energy headlines
** Some Alaska environmental advocates say the proposed congressional climate bill “causes more harm than good” by requiring oil and gas leasing and incentivizing critical mineral mining. ** Analysts are skeptical of the U.S. mining industry’s ability to produce enough electric vehicle battery minerals to meet deadlines in the proposed congressional climate bill. ** A company proposes using abandoned oil wells to explore …
Energy headlines from the U.S. and the world
** A federal judge on Friday reinstated a moratorium on coal leasing from federal lands that was imposed under former President Barack Obama and then scuttled under former President Donald Trump. ** A Nevada electric vehicle battery recycling firm says Tesla’s Gigafactory will be one of its first customers for copper foil anodes. ** An environmental group petitions federal regulators to …
Headlines of other energy stories
** A Terrebonne Bay oil spill on the first day of Louisiana’s inshore shrimp season has taken a toll on some local fishermen, who say they received no warning of the incident until many hours after it occurred and as a result ended up with fouled nets and oiled boats. ** Berkshire Hathaway Energy is set to …
More energy headlines
** A group representing General Motors, Toyota Motor, Volkswagen and other major automakers said a $430 billion bill approved Sunday by the U.S. Senate will put achieving U.S. electric-vehicle adoption targets for 2030 in jeopardy. ** The deal extends a popular $7,500 per vehicle consumer tax credit for the purchase of electric vehicles, a win for EV …
Additional headlines
** BP became the latest energy company to announce huge profits on Tuesday (August 2). The company said it made a second quarter profit of just under $8.5 billion – its highest in 14 years. ** A deal has been secured for Congress to pass and President Joe Biden sign a permitting package to speed up the completion …
Energy briefs
** Chevron Corp posted its biggest quarterly earnings ever on Friday, built on strong fuel margins and high prices for natural gas and oil, and boosted its share buyback target. The oil major posted second-quarter net profit of $11.6 billion, or $5.95 per diluted share, more than triple the $3.1 billion, or $1.60 per share, in the …
Big energy department loan
The Biden administration handed out more government funding this week in the name of EV development. The Energy Department announced a $102 million loan to expand a Louisiana processing facility for materials used in electric vehicle batteries. Owned by Syrah Technologies in Vidalia, Louisiana, the facility will use the loan to create 150 jobs …