Regulatory Archives - Page 17 of 84 -

API: Inflation Reduction Act falls short of addressing long-term energy needs

August 15, 2022

World Oil American Petroleum Institute (API) President and CEO Mike Sommers issued the following statement today on House passage of the Inflation Reduction Act: “While the Inflation Reduction Act takes important steps toward new oil and gas leasing and investments in carbon capture and storage, it falls well short of addressing America’s long-term energy needs and further discourages needed investment

ACCF study: U.S. petroleum export ban would negatively affect refineries, employment, GPD

July 22, 2022

World Oil As the White House and Congress weigh policy levers to provide relief to consumers from rising gas prices, a proposed ban on petroleum exports has become part of the discussion. A new study released by the American Council for Capital Formation examines the short-to-medium term logistics, pricing, and economic impacts of a complete ban on U.S. petroleum product exports. It concludes

Biden expected to announce executive action on climate Wednesday

July 20, 2022

World Oil (Bloomberg) — President Joe Biden will announce executive action to address climate change Wednesday, as he continues to weigh a broader emergency declaration that would allow him to marshal sweeping powers against “global warming.” The potential emergency order that Biden is mulling would unlock broad executive powers to propel clean-energy construction, restrict oil drilling and curb fossil fuel

Canada presents options for emissions cap on oil and gas industry

July 18, 2022

World Oil Bloomberg) — The Canadian government released potential designs for an emissions cap on the oil and gas industry, the next step in Prime Minister Justin Trudeau’s plan to cut emissions in the sector by 42% by 2030. Environment Minister Steven Guilbeault published a discussion paper on Monday that outlined two regulatory options. The first is a cap-and-trade system that would

Solar stocks sink as Senator Manchin says he won’t support climate bill

July 15, 2022

CNBC Solar stocks tumbled Friday after Sen. Joe Manchin said he will not support increased spending to address climate change, according to NBC News, citing a Democrat briefed on the conversations. The Invesco Solar ETF, which tracks the industry, fell more than 7% at one point. By 1:40 p.m. on Wall Street some of those losses were recovered, with the fund

Texas oil and gas regulatory chairman applauds Supreme Court’s rollback of EPA overreach

July 1, 2022

World Oil AUSTIN – The U.S. Supreme Court’s decision on the Environmental Protection Agency’s (EPA) federal overreach with the Clean Air Act is a win for good government, American energy producers and for hardworking taxpayers who simply need cheap, plentiful and reliable energy, Railroad Commission of Texas Chairman Wayne Christian said. “SCOTUS is on a roll and continues to get

Supreme Court restricts EPA’s authority to shift away from fossil fuels

June 30, 2022

World Oil (Bloomberg) — The U.S. Supreme Court restricted the Environmental Protection Agency’s authority to curb greenhouse gases from power plants, siding with coal-mining companies and Republican-led states in a blow to President Joe Biden’s climate-change agenda. The 6-3 ruling interpreting the U.S. Clean Air Act is likely to keep the administration from imposing the type of wide-ranging emissions-cutting plan the EPA

Texas proposes rules to ready natgas industry for weather emergencies

June 29, 2022

Reuters The Texas Railroad Commission, which oversees the state’s oil and natural gas industries, approved a proposed weatherization rule to help protect Texans during emergencies that could occur any time of the year. The proposed rule is the latest in a series of regulations to avoid another energy emergency like the 2021 February freeze that left millions of Texans without

Permian Basin facing new environmental rules that could curb drilling

June 27, 2022

World Oil (Bloomberg) — The Biden administration is considering triggering tougher anti-smog requirements that could curb drilling across parts of the Permian Basin, the world’s biggest oil field that straddles Texas and New Mexico. The Environmental Protection Agency is weighing labeling parts of the Permian Basin as violating federal air quality standards for ozone — a designation that would force state regulators to

Energy Workforce & Technology Council comments on SEC proposed rules on climate disclosures

June 20, 2022

World Oil HOUSTON — Energy Workforce & Technology Council submitted comments to the Securities and Exchange Commission (SEC) regarding the proposed rules, “The Enhancement and Standardization of Climate-Related Disclosures for Investors” File Number S7-10-22, that require expanded greenhouse gas reporting from publicly and some privately traded companies. “Energy Workforce member companies include small sole proprietorships to large, multi-national publicly traded companies,” said

Texas RRC strengthens inspection process for oil, gas facilities in new fiscal year plan

June 10, 2022

World Oil AUSTIN – The Texas Railroad Commission on Tuesday approved the Fiscal Year 2023 Oil and Gas Monitoring and Enforcement Plan, which outlines a stronger inspection process and enforcement procedures for evaluating every oil and gas facility at least once every five years. The new plan outlines strategic priorities and provides statistical data that highlight the agency’s enforcement efforts,

White House weighing oil profits tax to fund consumer rebate, official says

June 2, 2022

BOE Report The White House is considering proposals that would tax oil and gas windfall profits in order to provide a benefit to consumers struggling with higher energy prices, a U.S. official said on Thursday. Bharat Ramamurti, the deputy director of President Joe Biden’s National Economic Council, said the administration has been examining U.S. Senate and House of Representative proposals

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