ConocoPhillips Continues To Expand Alaska North Slope Oil Wealth Resource
Northern Gas Pipelines, Dave Harbour, July 17, 2018
Late yesterday, ConocoPhillips provided an update on its operating plan for Alaska, focusing on the company’s long history of creating value in the state and an ongoing commitment to invest in low cost of supply opportunities. Over the past few years, the company’s Alaska business has undergone a significant transformation, driven by a more competitive fiscal framework, cost reductions, technological advancements and an exploration renaissance.
Our Take: Great news for Alaska! Conoco is a leader in responsible resource development and this investment will provide jobs for Alaskans, help spur the economy, and put oil into the pipeline.
U.S. hits $1.1 billion Texas oil pipeline with steel tariff
Reuters, Liz Hampton, July 16, 2018
A $1.1 billion U.S. shale pipeline on Monday was denied an exclusion to the Trump administration’s tariff on imported steel, the first such ruling on a major energy project since the tariff went into effect. Pipeline operator Plains All American Pipeline LP’s request was denied because suitable product is available from domestic producers, the Commerce Department ruling said.
Our Take: Will this tariff effect the pipeline AGDC has planned?
The Real Winners and Losers of Trump’s Trade War Speak Up
Bloomberg, Jeremy Diamond, Crayton Harrison, Lena Lee, Kevin Miller and Phil Serafino, July 17, 2018
Now it’s getting real. U.S.-imposed tariffs on goods from China, the EU and other countries have been met with similar tariffs on American goods. Companies that have warned for months that imposing tariffs would hurt growth and threaten jobs are beginning to report actual, concrete effects from the global trade war.
China is investing 9 times more into Europe than into North America, report reveals
CNBC, Natasha Turak, July 17, 2018
China is investing nine times more into Europe than it is into North America as policies force divergence, a report released this week reveals. Chinese outbound foreign direct investment (FDI) has dramatically swung toward Europe in the first half of 2018 and its FDI into North America has dropped by a whopping 92 percent in the last year, from $24 billion to $2 billion, according to multinational law firm Baker Mackenzie.
Alaska’s LNG project looking for private contractor to help with federal permitting
KTOO Public Media, Rashah McChesney, July 16, 2018
Alaska’s gasline corporation is planning to hire a private contractor to help it through the federal permitting process. The move comes after the Federal Energy Regulatory Commission (FERC) sent a letter to the state, asking for help. FERC is the lead agency doing the environmental and engineering review of the Alaska LNG project.
Our Take: FERC has potential delays of 12-18 months. That is unacceptable. Involving the private sector will help make the process more efficient and permitting go as smooth as possible.
Another big oil lease sale set for August
Daily Comet, Keith Magill, July 15, 2018
The Trump administration says it will again conduct the largest oil and gas lease sale in U.S. history in August, opening about 78 million acres in the Gulf of Mexico to drilling. It remains uncertain whether the lease sale will attract any more interest than the previous two, which attracted bids on 1 percent or less of the tracts offered.
From today’s Washington Examiner, Daily on Energy:
FREE-MARKET GROUP TAKES TREASURY TO COURT OVER CLIMATE CHANGE: The conservative think tank Institute for Energy Research filed an open records lawsuit on Tuesday against the Department of the Treasury to block Washington from “quietly advanc[ing] the ‘climate’ industry.”
FOIA: The Freedom of Information Act suit was filed in the U.S. District Court for the District of Columbia, seeking “certain, specific records relating to the ‘climate risk disclosure’ campaign begun in 2012 by various activist groups including Ceres and Rockefeller Financial Asset Management and led by disgraced former New York Attorney General Eric Schneiderman.”
Pyle in charge: The group, headed by Tom Pyle, former energy transition chief for Trump, said the climate agenda, if implemented, “would have immense economic and legal consequences.”
What the lawsuit wants: Pyle’s group requested all correspondence by Treasury’s Energy and Environment Director Peter Wisner that mention these terms: “Bloomberg task force,” “G20,” “Task Force on Climate-Related Disclosure,” “climate risk disclosure,” and/or “climate financial disclosure.”