trending Market Intelligence /marketintelligence/en/news-insights/trending/qesa0ntvjaq3g_v-rhvh5w2 content esgSubNav
In This List

Experts see long odds for DOE plan; pipe companies could face steel shortfall

Podcast

Next in Tech | Episode 49: Carbon reduction in cloud

Blog

Using ESG Analysis to Support a Sustainable Future

Research

US utility commissioners: Who they are and how they impact regulation

Blog

Q&A: Datacenters: Energy Hogs or Sustainability Helpers?


Experts see long odds for DOE plan; pipe companies could face steel shortfall

Top News

Law experts: DOE draft coal, nuclear plan faces long odds but could take effect

Although the U.S. Department of Energy's draft plan to use two rarely invoked laws to save struggling coal-fired and nuclear power plants likely would face steep legal challenges, it still may roil power markets absent an immediate court stay, legal experts said.

Gas industry planning out fight against DOE push on coal, nuclear power plants

Groups aligned with the U.S. natural gas industry railed against the Trump administration's plan to move forward with policies that would promote coal and nuclear power generation at the expense of other energy sources, arguing that the policy meddles with markets without improving energy security.

GAO suggests increasing coal tax rates as option to aid black lung fund

A recent U.S. government report suggests increasing federal coal tax rates to prevent a multibillion-dollar taxpayer bailout for a black lung disability fund whose debt is projected to exceed $15 billion by 2050.

Potential steel shortfall looms amid Permian Basin pipe bottleneck

Pipeline companies could face a steel supply shortage even as demand for additional oil and gas transportation capacity from booming shale plays ramps up to crisis level.

Quoted

"EPA's strained attempt to raise an epistemological smokescreen will not work here to evade its obligations under the FOIA," Chief U.S. District Judge Beryl Howell said in a ruling ordering U.S. Environmental Protection Agency Administrator Scott Pruitt to produce the documents behind his controversial statement that carbon dioxide is not a "primary contributor" to climate change.

Power

* During the first meeting of the U.S. Environmental Protection Agency's Science Advisory Board under Administrator Scott Pruitt, scientists repeatedly asked the agency to respond to their requests for information to aid their review of the science underpinning regulatory actions.

* The U.S. Department of Energy is providing up to $24 million in funding for 10 projects that would support advanced nuclear reactor power plants.

* As work to restore Puerto Rico's storm-ravaged power system continues into the 2018 Atlantic hurricane season, which began June 1, efforts to modernize the island's electric grid with new technologies are also advancing.

* California lawmakers are considering a proposal for a wildfire relief fund that would aid utilities in potential liabilities and also offer relief to wildfire victims, Bloomberg News reported.

* Policies aimed at subsidizing select generating resources in competitive markets run the risk of shifting larger swaths of generation's cost burden to ratepayers instead of private plant owners, market observers say.

* The White House reportedly required Cabinet secretaries to publicly support the U.S. exit from the Paris climate pact, according to E&E News.

* The $1.48 billion offer of Italy's Enel SpA topped bids for 73% stake of Brazil's Eletropaulo Metropolitana Eletricidade de São Paulo SA, the Financial Times reported.

* The Manitoba Métis Federation is seeking to overturn the provincial government's decision to block its C$67 million deal with Manitoba Hydro, The Globe and Mail reported.

Natural gas

* Spurred by environmental violations in the construction of Sunoco Pipeline LP's Mariner East 2 and Mariner East 2X NGL pipelines, a Pennsylvania state senator is spearheading the formation of a new oversight committee to recommend improvements in pipeline regulation and construction.

* Kinder Morgan Canada Ltd. offered C$1.5 million in bonuses to each President Ian Anderson and Vice President David Safari to make them stay with the company until the sale of the Trans Mountain pipeline system to the Canadian federal government, The Canadian Press reported.

* Mountain Valley Pipeline LLC asked a federal court to deny pipeline opponents' motion to halt construction on the natural gas transportation project, saying environmental groups had failed to satisfy the necessary requirements for such relief.

* Osprey Energy Acquisition Corp. agreed to acquire Royal Resources assets for approximately $894 million and form oil and gas minerals company Falcon Minerals Corp. The Royal Resources assets represent all of Blackstone Energy Partners and Blackstone Capital Partners' mineral interests in the Eagle Ford Shale.

Oil

* The U.S. government has asked Saudi Arabia and some other members of the Organization of Petroleum Exporting Countries, or OPEC, to raise oil production by approximately 1 million barrels per day, Bloomberg News reported, citing people familiar with the matter.

* Colorado Oil and Gas Association members have offered to take steps in the summer to reduce ozone emissions during high pollution days, The Denver Post reported.

* Transocean Ltd. announced June 4 it had appointed Senior Vice President of Operations Keelan Adamson to assume the responsibilities of retiring Executive Vice President, COO and Chief Performance Officer John Stobart, effective June 1.

* Shell Oil Products US agreed to pay a $142,664 civil penalty and spend an estimated $220,300 to improve waste management at its crude oil refinery in Martinez, Calif., as part of a settlement with the U.S. Environmental Protection Agency.

* Cenovus Energy Inc.'s stock price closed down nearly 6% on June 4 after a report from Reuters, citing unnamed sources, said late in the day that oil major ConocoPhillips was preparing to sell its stake in the integrated Canadian oil company.

Coal

* Murray Energy Corp. entered into a transaction support agreement with certain holders of its 11.25% senior secured notes due 2021 and lenders of its existing term loans that will "beneficially impact" its balance sheet and extend upcoming debt maturities.

* Coal exports from the Hampton Roads port facilities in Virginia increased 18.5% year over year to 3.8 million tons in May but declined 12% from April's total, according to data obtained June 4 from the Virginia Maritime Association.

ChartWatch

SNL Image

The federal pipeline safety agency needs to make sure its workforce can maintain long-term safety oversight as it relies less on states for interstate pipe inspections, according to a U.S. Government Accountability Office report.

New from RRA

* During May, in contrast to April and March, utilities underperformed broad market measures, resuming a trend that had generally been in place for several months. The Dow Jones Utility Index declined 1.7%, while the Dow Jones Industrial Average, the S&P 500 and the Nasdaq Composite increased 1.0%, 2.2% and 5.3%, respectively.

The day ahead

* Early morning futures indicators pointed to a higher opening for the U.S. equity markets. To view more SNL equity market indexes, click here. To view more SNL Energy commodities prices, click here.

SNL Image

The Daily Dose has an editorial deadline of 7:30 a.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.