Attorney General Josh Shapiro announced Dec. 20 a significant step towards economic justice for Pennsylvania landowners in his lawsuit against Chesapeake Energy Inc. and Anadarko Petroleum Co.Bradford County Common Pleas Court issued an opinion and order denying preliminary objections raised by the defendant companies.The Office of Attorney General’s lawsuit seeks to recover for thousands of Pennsylvania landowners the money wrongfully deducted from fracking royalty checks by Chesapeake Energy and Anadarko Petroleum — in violation of
President Donald Trump's administration is rescinding proposed rules for hydraulic fracturing and other oil- and gas-drilling practices on government lands. The rules developed under President Barack Obama would have applied mainly in the West, where most federal lands are located. Companies would have had to disclose the chemicals used in fracking, which pumps pressurized water underground to break open hydrocarbon deposits.
Sen. Ted Cruz has now gotten multiple meetings at the White House over the Renewable Fuels Standard but the Texas Republican still maintains his hold on Iowa Agriculture Secretary Bill Northey's undersecretary nomination at USDA. And, following a meeting Wednesday with staff from several senators at the White House's Eisenhower Executive Office Building, it seems Cruz doesn't know what exactly he wants changed with the Renewable Fuel Standard."He just keeps moving the goalpost and moving the goalpost," said a frustrated Sen. Joni Ernst, R-Iowa, on Thursday.Staff from the offices of Sens. Ernst, Charles Grassley, R-Iowa, and Deb Fischer, R-Neb., joined White House staff Wednesday afternoon to discuss options, but staff from Cruz's office and Sen. Pat Toomey, R-Pa., did not have any proposals to offer and were not ready to negotiate.
Leaders in the biofuels industry wrote President Donald Trump on Friday after learning Sen. Ted Cruz, R-Texas, had floated a proposal to the White House that would essentially cap prices for renewable identification number (RIN) credits at 10 cents apiece. The proposal from the Texas senator, negotiating on behalf of oil refiners, spurred major players in both biofuels and commodity crops industries to send a letter Friday to President Donald Trump detailing why the RIN market exists, how it is operated by EPA, and some of the problems EPA has in providing transparency on RIN trading.Most importantly, the letter praised President Trump for his support of the biofuels industry and reiterated the need to ensure any policy changes don't undercut billions of dollars in biofuels infrastructure that has been put in place since the Renewable Fuel Standard was created.
Look no further than how falling commodity prices have affected rural America in recent years, and you'll get a feel for what the Renewable Fuel Standard has meant to the countryside. Back in 2005 when the first RFS was signed into law, it was challenging just to keep up on the seemingly endless number of announced plans to build corn ethanol plants. Investor groups made public announcements, followed by local, small-town meetings attended largely by farmers and community investors curious about ethanol's economic potential.Today, the farm economy continues on a decline as input costs have remained higher while corn remains priced in the $3 to $4 range. Imagine the state of things without the corn market created by ethanol.Prior to the first RFS from 1997 to 2004, average corn prices nationally averaged between $1.86 and $2.60 per bushel, according to farmdoc at the University of Illinois. From 2006 to 2016, farmdoc said the average annual corn price ranged from $1.96 to $6.67. That meant more money was injected into rural economies following the passage of the second RFS.Do the math: take away the ethanol market and rural America's challenges may be far more difficult.A nine-page analysis by the Renewable Fuels Association released this week provides a look at the numbers.
In an attempt to stay relevant in the low carbon economy of the future, some leading oil and gas stakeholders have been ramping up their investments in renewable energy. BP is among that group, and the company just sank $200 million into a major solar energy deal with the company Lightsource. The new investment is especially noteworthy for the sharp contrast it makes with BP’s previous attempts to move “beyond petroleum.”
Agriculture Secretary Sonny Perdue reiterated Tuesday that President Donald Trump will keep his support for the Renewable Fuel Standard, but said changes are needed to help the oil-refining industry deal with what is seen as speculation in the market for renewable fuel credits.
Design is the first practical floating solar hydrogen-generating device to perform water electrolysis without pumps or membranes; could lead to low-cost, sustainable hydrogen production
Illinois' taxing model for wind energy companies is touted as one of the best in the country, bringing in $30.4 million in property taxes in 2016, according to economic experts. Barton DeLacy, a tax expert from Chicago, said that the Illinois system is a good model that is very close to the value he gives to wind farms and is much more consistent than in other states.
The U.S. renewable energy industry expressed relief after a compromise Republican tax bill preserved key tax credits that had been at risk of being removed, but it raised concerns about a provision that may threaten investment in the sector.The final tax bill retains the production and investment tax credits for wind and solar energy that have spurred investment in the fast-growth industries. It also eliminates the alternative minimum tax, which would have reduced the value of those credits.