“Remember the hours after Sept. 11 when we came together as one!It was the worst day we have ever seen but it brought out the best in all of us.”
The Fresh Quotes
US energy since 9/11: More production, but still at the mercy of other countries
John Siciliano, The Washington Examiner, September 11, 2018
Since Sept. 11, 2001, the U.S. has become a dominant energy producer, yet cannot seem to break free from the unpredictable nature of the global oil market. Even with the U.S. producing more of its own oil in 2018 because of the shale boom and fracking, it remains at the mercy of the global price of oil, as shown by federal oil analyses from 2002 to 2018 and recent actions by the Trump administration. President Trump, like many of his predecessors, must still call on large OPEC oil producers, such as the Saudis, to avoid any uneventful price hike that could shoot up fuel prices going into a midterm election season.
Candidates for Alaska governor talk crime, budget gap and oil in Anchorage forum
Annie Zak, Tegan Hanlon, Anchorage Daily news, September 10, 2018
Alaska’s candidates for governor kept it relatively low-key at a one-hour forum Monday in Anchorage where they discussed their plans for crime, oil, the Permanent Fund and more. There were no vicious attacks at the event, hosted by the Anchorage Chamber of Commerce at the Dena’ina Civic and Convention Center. No harsh words. No jabs thrown. All four gubernatorial candidates arrived in suits: former U.S. Sen. Mark Begich, a Democrat, former state Sen. Mike Dunleavy, a Republican, incumbent Gov. Bill Walker, an independent, and Libertarian William “Billy” Toien.
Our Take: Though no punches were thrown – there are clear differences. Begich is the only candidate who supports the Yes for Salmon( aka Stop All Progress in Alaska) initiative; Dunleavy appears to be the only candidate who recognizes that Alaska has a spending problem. All the candidates recognize that more oil in the pipeline is the clearest path forward for Alaska.
State announces tentative deal with ExxonMobil to supply gas for Alaska LNG project
Rashah McChesney, Alaska’s Energy Desk, September 10, 2018
In a hastily assembled, early morning press conference on Sept. 10, state officials announced that they have settled on the terms of a gas sales agreement with ExxonMobil. The agreement is not binding but is intended to supply gas for the Alaska LNG project. Though they would not share a copy of the agreement, officials say it contains key terms like the price for the gas and volume the company agrees to sell into the Alaska LNG project, which would build a pipeline to bring gas from the North Slope to Cook Inlet for export.
Our Take: Progress! Price and volume are important terms that are fundamental for any long-term gas sales agreements.
US HOUSE APPROVES SMALL SCALE LNG EXPORT LAW
Dale Lunan, Natural Gas World, September 10, 2018
The US House of Representatives, in a bipartisan vote of 260-146, passed legislation on September 6 providing for the prompt review and approval of applications to export or import LNG in amounts up to 140mn ft3/day. Three Republicans and 143 Democrats voted against the bill, fearing it would lead to increased domestic natural gas prices. The legislation, sponsored by Republican Congressman Bill Johnson of Ohio and his Democrat colleague, Henry Cuellar of Texas, will now move to the Senate, where it is expected to get a quick seal of approval. It is similar to a recent rule finalized by the US Department of Energy (DoE).
Our Take: Government can do good things – quickly!
From the Washington Examiner Daily on Energy:
TRUMP ADMINISTRATION ROLLS BACK METHANE RULES TO HELP DRILLERS: The Environmental Protection Agency proposed on Tuesday to roll back Obama-era regulations targeting methane leaks from oil and gas drillers and fracking operations.
The methane emissions rules were part of the Obama administration’s climate agenda, which targeted methane as a short-lived greenhouse gas that is more potent than carbon dioxide.
The proposed improvements to the 2016 New Source Performance Standards for the oil and gas industry look to streamline implementation, reduce duplicative EPA and state requirements, and significantly decrease unnecessary burdens on domestic energy producers, the EPA said Tuesday morning.
Show me the money: “Removing these excessive regulatory burdens will generate roughly $484 million in cost savings and support increased domestic energy production — a top priority of President Trump,” said EPA Acting Administrator Andrew Wheeler.
The cost savings that Wheeler described would be over a six-year period from 2019 to 2025. The annual cost savings to the industry would be $75 million.
Cut the red tape: “These common-sense reforms will alleviate unnecessary and duplicative red tape and give the energy sector the regulatory certainty it needs to continue providing affordable and reliable energy to the American people,” Wheeler added.