OFFSHORE GROUP SAYS GULF OF MEXICO OIL BEATS COMPETITION ON EMISSIONS: A new analysis commissioned by a leading offshore energy industry group shows the Gulf of Mexico outcompeting other most of the world in lifecycle greenhouse gas emissions performance, giving more fuel to the oil interests and lawmakers who are lobbying the Biden administration to finalize a five-year offshore program with multiple lease sales.
“The world needs both climate solutions and a growing amount of energy, and we don't have to choose between the two,” said NOIA president Erik Milito. “The Gulf of Mexico produces a massive amount of energy with a remarkably small footprint, and its continued success is critical for our energy security, national security, and energy affordability.”
Average emissions associated with well construction are substantially lower for Saudi Arabia compared to Gulf offshore operations, and the Saudis win big on production-related methane leak performance, too. BREAKING – BIDEN VETOES BILL TO BLOCK SOLAR TARIFF PAUSE: President Joe Biden vetoed legislation today that sought to block his pause on tariffs for solar panels manufactured in Cambodia, Malaysia, Thailand, and Vietnam, which collectively comprise roughly 80% of cell and module imports.
Under the Mineral Leasing Act, the Bureau of Land Management must grant right-of-way and a temporary use permit authorizing for interstate pipelines that cross more than one Federal agency jurisdiction. The Forest Service is also required to concur where national forest lands are involved. Opponents of MVP, who have successfully challenged multiple of its authorizations to thwart its construction and operation, criticized the agency for giving the pipeline go-ahead.
USDA ANNOUNCES CLEAN ENERGY FUNDING FOR RURAL AMERICA: The Department of Agriculture announced billions in new grants and loans designed to expand renewable energy installations and other clean energy technologies in rural regions. The RFS includes blending obligations for multiple “buckets” of liquid biofuels, including conventional fuel , cellulosic biofuel, biomass-based diesel, and advanced biofuels.
Renewable Fuels Month: Staying in the Midwest, Sen. Pete Ricketts of Nebraska announced a resolution yesterday to dub May 2023 “Renewable Fuels Month” in America. A supply crunch is likely: Market tightness will begin as early as this quarter, before reaching a projected defecit of 2 million bpd by December, the IEA said. That’s in large part due to OPEC+ production cuts that take effect beginning this month. Those cuts have been criticized by both IEA and the Biden administration, citing the expected market squeeze later this year.
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