Arctic reserve lease sale draws limited interest, but one new company
Elwood Brehmer, Alaska Journal of Commerce, December 13, 2018
Interest in National Petroleum Reserve-Alaska oil and gas acreage was tempered again this year, with federal officials citing a lack of access to the most promising areas as a reason for the modest bidding. Overall, the Bureau of Land Management received 16 bids over 16 oil and gas leases covering 174,044 acres, Acting BLM Alaska Director Ted Murphy said during the Wednesday morning bid opening in Anchorage. The bids, ranging from $57,000 to $216,000 per lease, netted a total of $1.13 million, half of which will go to the State of Alaska through revenue sharing. The state lease revenue from the federal reserve is then first available for allocation to a grant program aimed at reducing the impacts of development on North Slope communities.
US House chairman calls for anti-OPEC bill to become law this year
S & P Global Platts, December 12, 2018
The chairman of the US House Judiciary Committee Wednesday called on the Trump administration to back a bill that would allow the US Department of Justice to sue OPEC for antitrust violations. “The fact that OPEC is not being held accountable for its anti-competitive behavior makes a mockery of US antitrust law,” Representative Bob Goodlatte, the committee’s chairman and a Virginia Republican, said at a subcommittee hearing. Goodlatte said that passage of the No Oil Producing and Exporting Cartels or NOPEC Act, would be a “bipartisan victory before this term of Congress ends.”
EPA sees no new coal plants from its CO2 rule, but it could still help industry
S & P Global Market Intelligence, December 13, 2018
Looser carbon dioxide limits for new coal-fired power plants unveiled by the Trump administration are unlikely to spur construction of any new coal-fired power generation on their own but could be a crucial piece of a broader strategy in the president’s bid to revive coal. The U.S. Environmental Protection Agency’s proposed rule aims to “ensure any new coal plants built in the United States use the most advanced, clean coal technologies that have been adequately demonstrated.” While the industry said the Obama-era limit essentially outlawed the construction of coal plants without cost-prohibitive carbon capture technology, the Trump administration’s proposal moves the bar to a level already achieved by several coal plants running today.