Energy daily: What the Interior tried to do with its pre-Independence Day news dump
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IN CASE YOU ARE TOO BUSY ENJOYING THE FOURTH OF JULY… The Home Office waited until after business closed on Friday before the holiday weekend to drop its proposed 500-plus-page program for offshore oil and gas leasing, a classic news dump for a document that has mostly delayed major decisions on the fate of drilling in federal waters. and prolonged the discontent of many parties…
What’s inside : The proposed program envisions between zero and a maximum of 11 lease sales on the outer continental shelf between 2023 and 2028.
The schedule reflects the final 2017-2022 schedule, which just expired Thursday: 10 lease sales in the Gulf of Mexico and one in Cook Inlet, Alaska.
The eastern Gulf is out of bounds as proposed, as are most waters off Alaska and all CSO areas in the Atlantic and Pacific regions.
Yes and no: The proposed scheme has met with intense backlash from green groups, who want to see an end to onshore and offshore leasing schemes in order to reduce climate change and referred to the President Joe BidenThe election campaign promises to restrict the leasing of oil and gas on federal lands.
“President Biden has called the climate crisis the existential threat of our time, but the administration continues to pursue policies that will only make matters worse,” the executive director of Food & Water Watch said. Wenonah Hauter.
Several environmental groups, including Friends of the Earth, had urged the administration to release a proposed program without potential new lease sales.
Hallie TempletonFOE’s chief legal officer, accused the administration of siding with energy companies and said the proposed program exposed Biden as “another leader who cares more about polluters than a viable future for people and the planet.”
Oil and gas interests, including Democratic Sen. Joe Manchinwelcomed the proposed program but reacted cautiously to Interior’s emphasis on the discretion it has to ultimately hold fewer sales than the 11 envisioned – or none at all.
Erik Militowho heads the National Ocean Industries Association, called on the administration to finalize and implement the program “as proposed, with no reduction in area.”
The agency delayed and delayed then avoided engaging: Inside used every scrap of track it gave itself, and then an extra day, to come up with a proposed program it knew wouldn’t suit Biden’s environmental allies.
The department has gone to great lengths to communicate that its proposed program is not final and remains susceptible, until no new lease sales are completed, as demanded by green groups and some congressional Democrats. .
“A proposed program is not a decision to issue specific leases or authorize drilling or development,” the secretary said. Deb Haaland said in a statement.
The department, in a brief filed last week as part of the oil industry’s appeal against the DC District Judge Rodolphe ContrerasWho’s decision to cancel last year’s only overseas sale underscored that even the finalized program does not necessarily require it to make included sales.
“During each previous five-year program, Interior has used its discretion to hold fewer sales than the applicable program provides,” he said.
The document itself stated that the Interior had prepared it in order to carry out further analytical work on the net benefits of potential lease sales and that “the inclusion of an area to be analyzed in this proposed program is not a final decision that the area will be included in the [proposed final program]or eventually offered in a future lease sale.
The moment: Republicans in Congress, as well as industry, had been pressuring the Biden administration to move more quickly in developing the proposed program, which is well behind the previous program finalized under the administration Barack Obama.
Obama’s Interior Department released its proposed program well over a year before the 2012-2017 five-year program expired.
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GEORGIA EXTENDS GASOLINE TAX HOLIDAY THROUGH MID-AUGUST: Governor of Georgia Brian Kemp prolonged his condition gas tax exemption until mid-August, aimed at reducing pain for drivers.
The move comes with a national average gasoline price of $4.80 per gallon, up from a record high of $5.02 per gallon last month, according to AAA.
OIL FALLS BELOW $100 A BARREL AMID RECESSION FEARS: Oil prices fell below $100 a barrel on Tuesday for the first time since May, falling more than 8% amid lingering supply problems and growing fears of a global recession.
U.S.-based West Texas Intermediate (WTI) futures fell 8% to $8.67 on Tuesday, trading at $99.76 a barrel for the first time since May 11 .
Meanwhile, international benchmark Brent crude futures fell $7.7 to $104.76 a barrel.
Citigroup analysts have warned that oil prices could fall to $65 a barrel by the end of this year – and fall to $45 by the end of 2023 – if the global economy collapses in a recession.
“In a recessionary scenario with rising unemployment, household and business bankruptcies, commodities would continue down the cost curve as costs deflate and margins turn negative to drive price reductions. ‘offer,’ Citi analysts said. said today in a note to customers.
“Currently, our American economists do not expect the United States to plunge into a recession, but are also skeptical of the Fed’s ability to engineer a modest slowdown, as the historical experience has been hard landings. rather than soft,” the band wrote. Read more about Breanne here.
NEW EVENT TREND: GREEN ACTIVISTS GETTING TO ART: A group of environmental activists from the group Just Stop Oil stuck to the frame of a copy of Leonardo DeVinciit is The last supper painting in London today, the latest in a series of disruptive protests by the group.
In a video shared on social media, five activists can be seen sticking to the frame of the famous 16th century painting at the Royal Academy of Arts in London, after spray-painting the words “No New Oil” on the wall below.
Last week, Just Stop Oil protesters targeted other historic works in JMW Turner, Vincent van Goghand Horatio McCulloch in museums in London, Glasgow and Manchester.
Yesterday, two protesters affiliated with the group also stuck to the frame of The Hay Waina 200-year-old masterpiece of John Constableat the National Gallery in London.
A protester said his group had chosen The last supper to highlight the global food crisis which has been exacerbated by climate change and extreme temperatures.
“Food production is down and crops are failing,” he said, according at The Independent. “Any new oil production or any new oil infrastructure project is going to tip us to the edge, maybe up to 2 degrees of warming.”
“The future of this planet is facing its last supper in many ways,” he added. Read more about Breanne here.
EU AND NAMIBIA IN TALKS FOR GREEN HYDROGEN AGREEMENT: The EU is in talks with Namibia with a view to signing a possible green hydrogen agreement in November, Reuters reportsas it seeks alternatives to Russian energy imports.
Earlier this year, the EU set out an energy strategy to import around 10 tonnes of green hydrogen by 2030, with an additional 10 million tonnes to be produced domestically.
Next steps: EU officials plan to sign a memorandum of understanding, or memorandum of understanding, with Namibia on hydrogen and minerals at the UN climate change summit in Egypt in November. The news comes after EU officials signed a memorandum of understanding with Israel and Egypt in June to increase imports of liquefied natural gas to Europe.
DRAGHI ISSUES A CALL FOR ACTION AFTER ALPINE DEATHS: Prime Minister Mario Draghi called on the Italian government to act to respond to climate change after a glacier collapsed in the Italian Alps over the weekend, killing at least seven people. Fourteen are still missing, Euroactiv reported.
Temperatures in the region have been abnormally hot and have reached record highs.
“Certainly there are unforeseen aspects in this tragedy, but it most certainly depends on the deterioration of the environment and climate change,” Draghi said. The government must act to ensure that “what happened is unlikely to happen in the future or can even be avoided”.
Associated press China records record rains and heat as weather turns choppy
The Guardian Spain and Portugal suffer from driest climate in 1,200 years, research shows
Bloomberg Britain’s giant electric car charging station will also power the grid
Washington Post Hundreds rescued as Sydney suffers fourth flood in less than 18 months
THURSDAY | JULY 7
10:30 am Rystad Energy will host a “Rystad Talks Industry” an event focused on the global solar power supply chain and barriers to industry growth.
WEDNESDAY | JULY 13
2:30 366 Dirksen The Senate Energy and Natural Resources Subcommittee will hold a hearing on ways to reduce energy prices.