News of the Day:
Trump to approve $22B railway between Alaska and Alberta
Eye on the Arctic, September 28, 2020
U.S. President Donald Trump says he will grant approval to a $22-billion freight rail project connecting Alaska and Alberta. The president tweeted Friday that based on the recommendations of Alaska Senator Dan Sullivan and Congressman Don Young, he will be issuing a presidential permit approving the A2A Rail project.
The project would build a new rail line from Fort McMurray, Alta., through the Northwest Territories and Yukon to the Delta Junction in Alaska, where it will connect with existing rail and continue on to ports near Anchorage. The 2,570-kilometre railway could move cargo like oil, potash and ore, container goods, or even passengers.
Producer nations will have to compete to persuade companies to drill in their country.
Rochelle Toplensky, The Wall Street Journal, September 23, 2020
After decades of relative maturity, the oil market might be about to enter a second childhood.
Producer nations will have to compete to persuade companies to drill in their country. Geography and geology can’t be changed, but politicians can adjust taxes and regulations. The competition is going on now, says Alan Gelder of researchers Wood Mackenzie. Norway, Russia and Angola are among the countries considering new incentives.
Australia trims 2020-21 LNG export forecasts on COVID-19, production issues
S & P Global, Platts, September 28, 2020
Australia has cut forecasts for the country’s LNG exports for 2020-2021 (July-June) by some 6% to 75.6 million mt, citing the expected impacts of both the COVID-19 pandemic and domestic technical issues.
South and Southeast Asia to drive LNG demand growth
Chong Zhi Xin, Petroleum Economist, September 28, 2020
Power demand in South and Southeast Asia is growing at a blistering pace to meet the needs of its emerging nations. In recent years, coal has been the fuel of choice—being abundant and inexpensive—but this is at odds with the rise of sustainability, especially given growing concerns about climate change.
Joe Biden Wants to Make Almost Every Policy a Climate Change Policy
Timothy Puko, The Wall Street Journal, September 28, 2020
Joe Biden’s plans to make climate change a major focus across his administration if he wins the White House would have significant ramifications for both businesses and consumers.
The Democratic nominee seeks not just mass use of electric cars, as California’s governor mandated last week, but further changes across the economy, government and society: Electrified public and freight transportation, power plants running without greenhouse-gas emissions, and the placement of climate concerns at the center of social policies and diplomacy.
The plan comes with execution risks, potential unintended consequences and uncertainty about how it will play with voters. It would cost an estimated $1.7 trillion, more than 10 times what Barack Obama pledged to spend in a comparable proposal from his 2008 presidential campaign and would be paid for with tax increases on corporations and the wealthy.