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PM Edition: US moves toward oil self-sufficiency; Pennsylvania aims to join RGGI

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PM Edition: US moves toward oil self-sufficiency; Pennsylvania aims to join RGGI

S&P Global Market Intelligence is excited to announce the launch of an afternoon edition of our Daily Dose feature for energy. This new offering will highlight the best of our energy news, data and research. It is available by email and on the Market Intelligence platform.

Top News

Analyst sees US reaching oil self-sufficiency, slow decline for fossil fuels

The U.S. is on the verge of oil self-sufficiency but not immune to outside supply shocks, a Rice University energy expert said Oct. 2, noting that the increase in U.S. oil and gas production spurred by the shale revolution is without precedent.

Bankruptcy court approves Blackjewel plan to sell PRB mines to FM Coal affiliate

A federal bankruptcy court judge approved Blackjewel LLC's plan to sell its Powder River Basin assets to FM Coal LLC affiliate Eagle Specialty Materials LLC, leaving Contura Energy Inc., which still holds the mine permits, free and clear of its liabilities on those mines.

Pennsylvania Gov. Wolf launches process to join RGGI

Pennsylvania Gov. Tom Wolf ordered the state's Department of Environmental Protection to draft a rulemaking that would enable the state to join the Regional Greenhouse Gas Initiative cap-and-trade program for emissions from fossil-fueled power plants.

Venture capitalist sees supermajors playing key role in renewable development

National oil companies and supermajors will have to be actively involved in creating new technologies for wind and solar power generation if unconventional energy is to become a major power source, Alexander Ellis III, general partner of RockPort Capital Partners, said Oct. 2.

Other energy headlines

* Large corporations are set to become an ever more important driver of renewable energy markets in Europe, where the phaseout of generous government subsidies has utilities and other developers looking to the likes of Alphabet Inc., Heineken NV and Daimler AG for stable revenue streams.

* Weakening export markets and accumulated debt could bring more pain to the U.S. coal market, especially for Murray Energy Corp. and Foresight Energy LP, in which Murray owns a controlling stake, now under tight lender-imposed deadlines to sort their financial situations.

* Blackhawk Mining LLC reached an agreement with lenders to increase funds available under its debtor in possession financing package due to a potential cash shortfall as the company completes its bankruptcy reorganization.

ChartWatch

SNL Image

Average daily gas flows in September to the four major U.S. LNG terminals that are shipping commercial cargoes amounted to nearly 5.02 Bcf/d, up from nearly 4.36 Bcf/d in August, according to pipeline flow data from S&P Global Market Intelligence.

Research and data

Data Dispatch: Appalachian share buybacks do little in the face of declining natural gas prices

RRA Regulatory Focus: VEPCO says revised grid modernization plan recognizes regulators' concerns

RRA Regulatory Focus: NM court upholds securitization law, smoothing the path for PSNM San Juan filing

Financial Focus: Utilities continue to outperform in September

Top pick of the day

Decline in frack activity putting strain on US services companies, analysts say

This extra edition of the Daily Dose has an editorial deadline of 1:30 p.m. ET. Some external links may require a subscription. Links are current as of publication time, and we are not responsible if those links are unavailable later.