Several aspects of the draft
Regulatory
U.S. Energy Chief praises oil industry for boosting output at CERAWeek 2023
(Bloomberg) – U.S. Energy Secretary Jennifer Granholm praised oil executives for boosting output and lauded the industry’s “creative visionaries” in an attempt to ease tensions between the Biden administration and fossil-fuel producers.
“The U.S. has become, in this …
Railroad Commission of Texas assess $640,000 in oil and gas penalties
AUSTIN – The Railroad Commission of Texas assessed $639,143 in fines involving 204 enforcement dockets against operators and businesses at the Commissioners’ Conference on Tuesday.
The Commission has primary oversight and enforcement of the state’s oil and …
RRC Commissioners vote to challenge validity of Biden administration’s air emissions actions
AUSTIN – At their Feb. 28 open meeting, RRC Commissioners unanimously voted to refer two actions by the Environment Protection Agency (EPA) to the Texas Attorney General to challenge their validity.
In 2018 the Texas Commission on Environmental …
RRC concerned Texas may not be able to maximize federal funds to plug orphaned wells
AUSTIN – The Railroad Commission of Texas has filed comments on draft guidance issued by the U.S. Department of the Interior (DOI) for utilizing formula grants to plug orphaned oil and gas wells.
California’s bill to penalize oil firms for excess profits has stalled
A proposed bill in California to introduce penalties on the excess profits of oil companies is not making advances in the state legislature and even some Democrats are questioning its implementation and the possible benefits for consumers.
Judge grants motion by state of Michigan to appeal key decision in Line 5 dispute
BOE Report
WASHINGTON – The U.S. judge presiding over Michigan’s bid to shut down the Line 5 pipeline has agreed to let the state appeal a key ruling even though the case remains unresolved.
District Court Judge Janet Neff …
Alaska condemns restrictions on Alaskan oil drilling project by Biden administration
(Bloomberg) – Alaska’s senators sharply condemned any potential Biden administration move to authorize ConocoPhillips’ $8 billion Willow oil project with restrictions so onerous it wouldn’t be viable, warning that would be seen as a rejection — and an …
API voices concerns about EPA’s proposed methane rule
WASHINGTON D.C. – The American Petroleum Institute (API) responded to the U.S. Environmental Protection Agency’s (EPA) proposed methane rule during a press conference on Monday, Feb. 13.
The talk was led by API Senior Vice President Frank …
Lost Russian oil revenue is bonanza for shippers, refiners
LONDON – Western sanctions on Russia have significantly reduced state oil revenues and diverted tens of billions of dollars towards shipping and refining firms, some with Russian connections.
Most of the winners from the sanctions are based in China, …
Los Angeles County passes ban on new oil and gas drilling
Los Angeles County has voted to ban new oil and gas drilling in the country, following a similar ban enacted by the City of Los Angeles last month.
The Los Angeles County Board of Supervisors on Tuesday passed …
Wyoming proposes a voluntary phase-out of EV sales by 2035
The legislature in Wyoming is proposing a resolution for a voluntary ‘phase-out’ of electric vehicle (EV) sales by 2035, in a symbolic move aimed at supporting the state’s oil and gas industry and a response to states such …
Biden administration defers plan to tackle smog from oil drillers in Permian Basin
(Bloomberg) — The Biden administration is deferring a plan to crack down on smog in the drilling hotbed of the Permian Basin, handing a win to oil producers along with their allies in Texas and New Mexico.
The
Texas oil and gas regulators deploy inspectors in response to 5.4-magnitude earthquake near Midland
AUSTIN – The Railroad Commission activated personnel on the evening of Dec. 16 in response to a 5.4 magnitude earthquake about a dozen miles north of Midland in Martin County. They will take any necessary actions to protect …
EQT gets antitrust request over $5.2 billion Appalachia deal
(Bloomberg) — EQT Corp. said the U.S. antitrust regulator asked for additional information and documentary materials in connection with a $5.2 billion acquisition announced in September, a move that raises questions on the largest US natural gas producer’s …
Canada’s share buyback tax could backfire, energy sector warns
Canada’s proposal to tax corporate stock buybacks is unlikely to deter oil and gas companies from returning cash to shareholders and may instead put them at a competitive disadvantage, industry officials and analysts said.
Canadian energy companies …
COGCC commissioners unanimously approve Box Elder Comprehensive Area Plan
DENVER–(BUSINESS WIRE) 11/03/2022– The Colorado Oil and Gas Conservation Commission (COGCC) today approved Civitas Resources, Inc.’s (NYSE: CIVI) Box Elder Comprehensive Area Plan (CAP), making it Colorado’s first CAP approved with preliminary siting. The CAP framework …
Manchin enlisting oil CEOs to get GOP support for permitting bill
(Bloomberg) — Democratic Senator Joe Manchin is enlisting the help of energy-industry executives to marshal Republican support for his plan to speed up the process of getting federal approvals for energy projects, according to people familiar with the …
State oil and gas regulatory chairman commends industry’s contribution to Texas
AUSTIN – Texas Comptroller Glenn Hegar announced the Fiscal Year 2022 (FY 22) state revenues highlighting that the oil and gas industry paid record-breaking taxes to the state.
The oil production tax generated $6.36 billion up 84% from …
Railroad Commission: Fighting back against ESG efforts to destroy the Texas economy
AUSTIN – Texas is leading the fight to curb the expansion of the Environmental, Social and Governance (ESG) movement, a woke investment strategy that places a priority on subjective environmental and social metrics instead of financial metrics that …
Biden’s freeze on oil, gas leases on public land temporarily reinstated
(Bloomberg) — President Joe Biden won temporary permission to once again pause energy leasing on federal lands and waters, after a U.S. appeals court found a trial judge’s order against the moratorium too vague to review.
The court …
API: Inflation Reduction Act falls short of addressing long-term energy needs
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 …
Biden expected to announce executive action on climate Wednesday
(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 …
Canada presents options for emissions cap on oil and gas industry
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 …
Solar stocks sink as Senator Manchin says he won’t support climate bill
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 …
Texas oil and gas regulatory chairman applauds Supreme Court’s rollback of EPA overreach
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 …
