(World Oil) – The Senate voted Thursday to repeal a new U.S. fee on climate-warming methane emissions from oil and gas producers, sending the measure to the White House for President Donald Trump’s signature. The repeal, which would be a boon to oil and gas producers but abandons an incentive to control releases of a potent greenhouse gas, comes as
(World Oil) – The Biden administration advanced a plan to limit oil drilling and infrastructure across more of Alaska’s National Petroleum Reserve, a bid to lock in land protections and conservation requirements days before President-elect Donald Trump takes office. The Interior Department move Thursday represents the latest step by outgoing President Joe Biden to enshrine protections that could complicate Trump
(Investing) – U.S. President Joe Biden will ban new offshore oil and gas development along most U.S. coastlines, a decision President-elect Donald Trump, who has vowed to boost domestic energy production, may find difficult to reverse. The move is considered mostly symbolic, as it will not impact areas where oil and gas development is currently underway, and mainly covers zones
A rush by the Department of Energy to distribute as many transition loans as possible before Trump takes office has resulted in over $38 billion in loans being issued since the November elections. For context, the total commitments since the passing of the IRA have amounted to $54 billion in loans and loan guarantees. The Financial Times reported the number,
World Oil (Bloomberg) – America’s oil and gas boom got a surprising endorsement Thursday from the president’s top climate adviser, as John Podesta hailed surging domestic production as an economic win for the country. The growth has made the U.S. the world’s largest oil producer — pumping almost 50% more crude each day than Saudi Arabia. It’s “been good for
World Oil (WO) — The Department of the Interior has issued final guidance for states on applying for the first $775 million in grant funding available this year to address orphaned oil and gas wells under President Biden’s Bipartisan Infrastructure Law. The total funding allocated for this program amounts to $4.7 billion, aimed at mitigating environmental and safety hazards, generating
World Oil (WO) – The Gulf Energy Alliance (GEA) joined the States of Louisiana, Texas, and Mississippi in a legal challenge to the Department of Interior’s (DOI) Bureau of Ocean Energy Management’s (BOEM) decommissioning rule imposing unnecessary and burdensome financial requirements targeting independent offshore oil and natural gas producers. The new regulation is a solution in search of a problem,
World Oil (WO) — Energy Workforce & Technology Council (EWTC) issued a statement applauding the introduction of S.4405, the “Natural Gas Tax Repeal Act,” by U.S. Senator Ted Cruz. If passed, the act would repeal the recently implemented tax on methane emissions, a move that the EWTC believes is crucial for the future of the energy industry. “We commend Senator
World Oil (Bloomberg) – Top Republicans are warning the Biden administration against tapping into the nation’s strategic oil reserve to bring down gasoline prices with five months to go before the presidential election. The message, sent in a letter Wednesday to Energy Secretary Jennifer Granholm, comes as Biden administration officials have hinted they may be willing to release oil from
World Oil (WO) — Energy Workforce & Technology Council President Tim Tarpley issued a statement in response to Energy Secretary Jennifer Granholm’s testimony before the U.S. House Committee on Oversight. During the hearing, Representatives discussed the administration’s ongoing LNG export permit pause, the push towards electric vehicles and energy appliance standards. “Five months into the administration’s LNG export permit ‘pause’,
World Oil (WO) – In October 2023, the American Petroleum Institute (API) urged the Biden administration to revise the proposed Subpart W greenhouse gas (GHG) reporting rule so that it reflects the progress the oil and gas industry has made to reduce emissions, increases reporting transparency and accuracy, and incentivizes empirical data innovations and cost-effective methane detection technologies. Today, API
World Oil (WO) – Western Energy Alliance won a significant victory in court last Friday as the U.S. District Court for the District of Columbia upheld the first offshore oil and gas lease sales of the Biden administration, held in June 2022. Judge Christopher Copper ruled in favor of the Bureau of Land Management’s (BLM) greenhouse gas (GHG) analysis that
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