EXTRACTED: Daily News Clips 4/18/22
PIPELINE NEWS
Odessa American: Industry experts: More Texas oil, gas pipelines needed
Grist: CO2 pipelines are coming. A pipeline safety expert says we’re not ready.
KELO: Hundreds in S.D. get to intervene on CO2 project
AgWeek: Counties taking action against eminent domain for carbon capture pipeline
Iowa Farmer Today: Eminent domain big issue with carbon pipeline
KCAU: Eminent domain carbon pipeline bill moves on to Iowa Senate
Grist: How rights of nature and wild rice could stop a pipeline
Facebook: Protect the Planet: Hug Burnaby Mountain
WASHINGTON UPDATES
E&E News: Biden admin restarts oil leases on federal land
NPR: Politics chat: Biden opens more land for oil drilling
Politico: MORE GULF OIL?
STATE UPDATES
NM Political Report: State board adopts rules regulating emissions from oil, natural gas relating to ozone
Bakersfield Californian: Groups push for ban on existing wells within proposed oil buffer zones
WHYY: Environmentalists say new fossil fuel projects could derail New Jersey’s climate goals
KWCH: Evacuation orders in place due to concerns from gas plant explosion near Haven
EXTRACTION
Guardian: Forty XR activists arrested in various anti-fossil fuel protests across London
Canadian Press: Energy transition will be challenging in era of public protests, regulatory hurdles
Globe and Mail: Oil and gas industry will lose public support if it doesn’t hit net zero by 2050, MEG Energy CEO says
Reuters: Cheniere Energy exec says surging U.S. natgas prices will spur production
Politico: EPA CONFIRMS RECORD GHG DROP IN 2020
CLIMATE FINANCE
Press release: Indigenous leader and concerned shareholders question TD Bank’s plan to address climate change and the financing of TMX
Press release: Stop the Money Pipeline coalition responds to Bank of America’s new 2030 climate targets
E&E News: Biden taps Fed regulator after climate views sank first pick
OPINION
Des Moines Register: Opinion: Bruce Rastetter is no climate hero
The Hill: EPA must ban routine flaring to protect communities
Bill McKibben: Joe Biden Supports a Windfall Profits Tax on Oil
PIPELINE NEWS
Odessa American: Industry experts: More Texas oil, gas pipelines needed
Bob Campbell, 4/17/22
“Mostly out of sight but not out of mind, you might think Texas’ 417,513 miles of intrastate oil and gas pipelines would be more than sufficient for the foreseeable future,” the Odessa American reports. “Not so, say representatives of the Texas Independent Producers & Royalty Owners Association, Pinnacle Midstream Inc., the American Petroleum Institute and the Texas Pipeline Association… “However, we may not have adequate capacity for tomorrow. As the world tries to step away from Russian oil and gas, the U.S. will need to increase both domestic oil and gas production and our liquefied natural gas exports significantly and the Permian Basin will be key to making that happen,” TIPRO President Ed Longanecker told the American. Noting that Texas already produces a quarter of all the natural gas in the nation, Longanecker told the American, “If we are to keep up, we will need more pipelines… Increased pipeline capacity would help the Basin continue to reduce its methane emissions intensity by quickly moving natural gas away from production areas to alleviate buildup and reduce the need for flaring… “I agree that additional pipelines need to be built out of the Basin,” Pinnacle Midstream Partner-Chief Commercial Officer Drew Ward told the American. “I know of three or four projects that are being shopped in the midstream and downstream to try and take care of the problem. It’s just a matter of time till one of those gets announced, and I’m rooting for whichever one gets a final investment decision.” “...Frank Macchiorola, senior vice president for policy, economics and regulatory affairs at the American Petroleum Institute in Washington, D.C., told the American more lines “are needed to keep pace with the demand and resources that we have right here at home” with the nation needing 21 million barrels of oil per day.”
Grist: CO2 pipelines are coming. A pipeline safety expert says we’re not ready.
Emily Pontecorvo, 4/18/22
“A year ago, a different kind of pipeline project was announced in the Midwest,” Grist reports. “...But as the number of pipeline proposals multiplies, a new report commissioned by the Pipeline Safety Trust, a nonprofit advocacy group, warns that CO2 pipeline regulations aren’t up to the task of keeping communities safe. “The country is ill prepared for the increase of CO2 pipeline mileage being driven by federal CCS policy,” writes report author Richard Kuprewicz, an independent pipeline safety consultant hired by the Pipeline Safety Trust. “Federal pipeline safety regulations need to be quickly changed to rise to this new challenge, and to assure that the public has confidence in the federal pipeline safety regulations.” The most concerning finding in the new report, according to Bill Caram, executive director of the Pipeline Safety Trust, is that regulations for assessing the potential impacts of a CO2 pipeline rupture were not developed specifically for CO2. Every pipeline developer has to identify potential “high consequence areas” where an accidental release would have significant negative impacts on human health or the environment. High consequence areas for oil and gas pipelines are well defined, but the report notes that CO2 has different considerations and likely a much larger radius of concern… “The report warns that such an event would be difficult for people in the vicinity and first responders to detect, since CO2 is colorless, odorless, and nonflammable. “If I had to pick one finding of the report that would keep me up at night as a public safety advocate, it’s that one,” Caram told Grist. “The residents of Satartia, Mississippi, learned this the hard way in 2020 when a CO2 pipeline ruptured and a plume of CO2 settled over the town, causing people to feel dizzy, nauseous, and disoriented. Many passed out. Forty-nine people went to the hospital. PHMSA has yet to release an incident report detailing the cause of the rupture. “That incident happened over two years ago,” Caram told Grist. “It’s crazy that communities are being asked to bear the burden of the risk of these pipelines when this report sits unreleased with all these unanswered questions.”
KELO: Hundreds in S.D. get to intervene on CO2 project
Bob Mercer, 4/14/22
“The South Dakota Public Utilities Commission says more than 300 people, businesses, organizations, associations and local governments can intervene in the permitting process for a proposed pipeline that would collect and carry away carbon dioxide to North Dakota,” KELO reports. “Thursday’s action comes less than a week after the company, SCS Carbon Transport, filed a revised map changing parts of the planned route through Lincoln, Minnehaha, Lake, Miner, Beadle, Edmunds, and McPherson counties. Those April 8 route changes came the same day as the deadline for applications to intervene in the docket. The commission’s decision Thursday was to accept nearly all of those applications and to give the remaining 28 another two weeks. Chairman Chris Nelson told KELO the number of applications for intervention was “unprecedented” in the 11 years he’s served on the commission… “Commissioners Gary Hanson and Josh Haeder told KELO they would consider reopening the intervention period if any additional people or businesses could be affected by the company’s changes to its proposed route… “Dakota Rural Action organizer Chase Jensen told KELO during the public-comment period at the end of the meeting that landowners were frustrated by the low quality of maps that SCS Carbon Transport has released. He suggested the commission extend the intervention deadline until the company submits maps that people can better understand. He also suggested the intervention deadline should stay open until the commission has data on rupture modeling in case of a leak or break in the pipeline. Jensen told KELO landowners aren’t clear about where to take their dissatisfaction with the company’s field people on the project. “They don’t know where they can express those complaints,” he told KELO.
AgWeek: Counties taking action against eminent domain for carbon capture pipeline
Jeff Beach, 4/18/22
“Todd McMichael looks out over pasture land that his family owns along the Sheyenne River expecting to see prairie chickens, deer and pheasants,” AgWeek reports. “...What he doesn't want to see is workers sinking a pipeline into the ground. McMichael describes himself as becoming a "mouthpiece" for landowners in the path of the Summit Carbon Solutions pipeline in North Dakota who object to the threat of eminent domain to gain right-of-way for the pipeline. He made a presentation in front of his county board in March, which unanimously adopted a resolution: "That the Richland County Commission officially opposes eminent domain for the Summit Carbon Solutions Pipeline within Richland County, North Dakota." Neighboring Sargent County has passed a similar resolution. McMichael says there are presentations soon to be made in Dickey and Emmons counties and conversations taking place with landowners in Burleigh and Morton counties. He told AgWeek he and other landowners are making the case “knowing that it more than likely will not have the teeth … if the state decides to site this…But we are hoping to get noticed in Bismarck; that a lot of landowners are against this project and how it’s being handled.” “...McMichael told AgWeek he's in regular contact with about 75 people on the pipeline issue. He's also made connections with pipeline opponents in other states… “In Iowa, 26 counties touched by the pipeline have filed objections to carbon pipelines… “A letter of opposition filed April 5 by commissioners of Brown County, which includes Aberdeen, reads, in part: "The farmers who will be affected by this pipeline are refusing to sign easements that are being offered to them by SCS Carbon Transport. This company is using strong-arm tactics in response to the refusal to sign these easements. The affected farmers fear the inevitable use of eminent domain and the loss of private property rights… “Perry Miller, the Richland County commissioner who made the motion to adopt the anti-eminent domain resolution, told AgWeek the commission "was approached by a significant number of farmers" with concerns about the project.”
Iowa Farmer Today: Eminent domain big issue with carbon pipeline
Aaron Viner, 4/16/22
“As carbon pipeline projects continue to be debated, the use of eminent domain has become a major issue across Iowa,” Iowa Farmer Today reports. “...These pipelines are being built by outside interests and financiers who hope to exploit tax benefits for their personal gain (which will also leave Iowa),” Aaron Lehman of the Iowa Farmers Union told IFT. “Their claims of providing public benefit fail to rise to the level to justify the use of eminent domain. If pipeline developers are unable to negotiate satisfactory agreements with landowners in their respective paths, they should abandon these projects.” “...We have a market study under way for voluntary easement compensation in the states to confirm modeled assumptions. Our teams are currently working through the necessary surveys of the parcels we’ve identified, and we plan to kick off the easement negotiations with landowners likely sometime in May,” Heartland Greenway told IFT… “Iowa Corn Growers Association president Lance Lillibridge told IFT the group opposes the use of eminent domain to complete this project… “Lehman told IFT other pipelines have come through the state, and there hasn’t been a good track record thus far. Farmers have been impacted by lost revenue, soil damage and soil drainage disruptions, he said. He also feels the pipeline isn’t going to accomplish the ultimate goal of offsetting the carbon footprint of ethanol plants as well as the companies are saying. “Pipelines and deep earth burial are not the only or best solution but will only perpetuate an unsustainable system,” Lehman told IFT. “There are viable solutions that do not require transporting a dangerous product through pipelines.”
KCAU: Eminent domain carbon pipeline bill moves on to Iowa Senate
Dillon Adams, 4/16/22
“The Iowa House has passed a moratorium on the Iowa Utilities Board scheduling of eminent domain hearings for carbon-capture pipelines,” KCAU reports.” The bill would not change rules regarding the use of eminent domain but rather provide 11 months for negotiations between landowners and companies. One landowner who has been opposed to the pipelines told KCAU the bill doesn’t do enough to help landowners. “It doesn’t put a stop on the process, the work that’s going on. The interruptions for your day, the calls you’re getting, the interruptions in your work, the looking into your field and seeing strangers out there and wondering what’s going on, that type of thing. That won’t stop,” landowner Deb Main told KCAU… “The eminent domain bill is currently stuck in the Iowa Senate and if approved, the IUB wouldn’t be able to hold a hearing until February of next year.”
Grist: How rights of nature and wild rice could stop a pipeline
Joseph Lee, 4/18/22
“Rights of Nature – an innovative legal movement that protects water, animals and ecosystems by giving them legal rights – might stop a pipeline, Grist reports. “In 2018, Frank Bibeau, an attorney for the White Earth Nation, helped the tribe write a law that recognized the rights of wild rice, which they call Manoomin, or “good berry”, to “exist, flourish, regenerate, and evolve.” The law relies on a section of an 1837 treaty between the Ojibwe and the U.S. government… “In 2021, he used the Rights of Manoomin law to sue the State of Minnesota over the construction of the pipeline. “I couldn’t figure out how to get authority over them to compel them to do anything we might want to do. And right in my brain, you know, it just clicked,” Bibeau told Grist. “Wild rice is mentioned specifically in the 1837 Treaty. It talks about how we retain the rights to hunt fish and gather wild rice on the lakes and rivers and lands that we’re ceding. Well, that’s huge.” In a setback for the case in March, the White Earth Ojibwe Appellate Court dismissed the tribe’s own lawsuit. The ruling said that the court does not have jurisdiction over non-tribal member activities on off-reservation land. The case is still awaiting a decision from a Federal appeals court over that exact question.”
Facebook: Protect the Planet: Hug Burnaby Mountain
4/15/22
“Join together Saturday May 7 (Mother’s Day weekend) to stand against the Trans Mountain Pipeline Expansion and protect the planet! We will assemble in a human chain, circling Burnaby Mountain in a hug, to convey a powerful message of shared concern for our Mother Earth. Bring your family and friends and join others in this movement inspired by other iconic human chains in history and around the world. Stand hand-in-hand, bring a lawn chair and picnic, be close or leave a safe distance with those who are outside of your household – all are welcome in the mode of participation that is comfortable for you. Become a part of local history and be on record for protecting the planet! For more information and to SIGN-UP visit: https://hugthemountain.ca/ We respectfully acknowledge the unceded traditional territories of the Coast Salish peoples, including the səl̓ilw̓ətaʔɬ (Tsleil-Waututh), kʷikʷəƛ̓əm (Kwikwetlem), Sḵwx̱wú7mesh Úxwumixw (Squamish) and xʷməθkʷəy̓əm (Musqueam) Nations, on which this event will take place.”
WASHINGTON UPDATES
E&E News: Biden admin restarts oil leases on federal land
Scott Streater, 4/15/22
“The Biden administration announced today it will resume oil and gas leasing on federal lands under a revised program that includes a royalty rate hike to 18.75 percent,” E&E News reports. “On Monday, the Bureau of Land Management will issue final environmental assessments and lease sale notices on 173 parcels covering 144,000 acres. The sales will incorporate many of the recommended reforms outlined in a November 2021 federal report, including analyzing the estimated greenhouse gas emissions that contribute to climate change and an increased royalty rate “to ensure fair return for the American taxpayer,” the Interior Department said. Interior said the reformed review process included “tribal consultation and broad community input” and resulted in whittling down the leasing area by 80 percent… “The planned oil and gas lease sales announcement angered environmentalists, who blasted the Biden administration for not taking adequate action to address climate change. “The Biden administration’s claim that it must hold these lease sales is pure fiction and a reckless failure of climate leadership,” Randi Spivak, public lands director at the Center for Biological Diversity, told E&E.
NPR: Politics chat: Biden opens more land for oil drilling
Asma Khalid, 4/17/22
“Higher gas prices may not be the main driver of the Biden administration's decision to sell new oil and gas leases on public land, but inflation is a significant political liability,” NPR reports. “...I will say there is some nuance here. You know, the department says that they're talking about roughly 144,000 acres, which sounds like a lot, but it's actually 80% less than the amount originally considered to be leased. Also, under the agency's new plan, drillers will have to now pay higher fees than ever before - 18.75% in royalty fees instead of just 12.5%. I should also note, you know, the president actually suspended new oil and gas leases shortly after he came into the White House, I believe, in January of 2021. And Biden has tried to prioritize climate initiatives and clean energy during his presidency to date. So this move, you know, I will say, is not occurring because the president suddenly had a change of heart and wants to suddenly pursue more fossil fuels. It's meant to comply with a federal court injunction that was brought by the oil and gas industry… “Yeah, but politically speaking, could this hurt the Biden coalition? Because some in green groups, I'm sure, are not happy about it… “I mean, environmental groups were certainly disappointed with this news. Climate is often a huge priority for young voters in particular. And I was struck by the statement I got from the Sunrise Movement. It's this youth-focused climate group. The statement said - and I'm quoting here - "This is why young people are doubting the political process altogether. If Biden wants to solve for voter turnout in 2022, he should actually deliver on the things he promised, not move farther away from them." I mean, strong words. And I will say young voters were key to Democratic wins in the 2018 midterms. They were key to Joe Biden's victory in 2020. And they really soured on him. You see this in poll after poll. And I've gone out and done interviews as well, and I hear this disappointment among young people - not just on climate but on issues like student loan forgiveness.”
Politico: MORE GULF OIL?
Matthew Choi, 4/15/22
“The American Petroleum Institute wants to open up Florida’s coastal waters for offshore drilling, which was banned by a state constitutional amendment in 2018 and by a presidential executive order in 2020,” Politico reports. "We believe strongly it is important to grow our energy resources at home, particularly in the Gulf of Mexico," Mike Sommers, API’s president and CEO, told Politico. "So we would — and have — consistently advanced expanding where production is happening in the Gulf of Mexico." While the state’s Republican members of Congress and governor have been calling for more domestic oil and gas production, Sens. Rick Scott and Marco Rubio still back a permanent ban on drilling off of Florida’s Gulf coast, their offices told POLITICO.”.
STATE UPDATES
NM Political Report: State board adopts rules regulating emissions from oil, natural gas relating to ozone
By Hannah Grover, 4/15/22
“After a lengthy discussion, the Environmental Improvement Board adopted ozone precursor rules on Wednesday evening,” according to NM Political Report. “... This rule is an enormous win for communities impacted by unhealthy air quality caused by oil and gas operations,” said NMED Cabinet Secretary James Kenney in a press release. “Over the next few months, we will begin robust and innovative compliance assurance activities to ensure oil and gas operations are adhering to these new requirements.” “...The rule will require frequent leak detection and repair at oil and gas facilities. Environmental groups tell the Report the new regulations will address greenhouse gas emissions that contribute to climate change while also protecting the health of community members living near oil and gas facilities… “Leak detection must occur on a monthly basis and, if leaks are found, they must be fixed within 15 days, according to the new rule. Companies will also be required to maintain records and demonstrate continuous compliance… “The ozone precursor rules come as a result of an executive order issued by Gov. Michelle Lujan Grisham intended to address climate change by reducing emissions from the oil and gas sectors. “Today marks the fulfillment of a promise I made to New Mexicans – to create strong, enforceable regulations in the oil and gas sector that will result in cleaner, healthier air in our communities,” she said in a press release.
Bakersfield Californian: Groups push for ban on existing wells within proposed oil buffer zones
JOHN COX, 4/18/22
“As state regulators finish work on a minimum buffer zone between oil and gas wells and sensitive locations like homes and schools, a key detail many will look for when the proposal comes out later this year is whether it would apply only to new drilling, or to existing production sites as well,” the Bakersfield Californian reports. “A draft rule the state released in October would allow wells already operating within the proposed 3,200-foot setback to continue, but only if they install monitoring equipment and vapor containment systems to make sure petroleum emissions are not risking the health of nearby residents. Environmental groups are pushing to extend the rule to ban all oil and gas production within the buffer zone — roughly 28,000 wells, or about 27 percent of California's total, according to a new analysis by oil Fractracker, a group calling for tighter regulation of the industry. The report released earlier this month sheds new light on what might be gained and lost if the proposed buffer tolerates or bans existing wells. A little more than two-thirds of people living within the proposed setbacks are people of color, Fractracker found… "Neighborhood drilling poses significant health harms to surrounding community members and it isn't even a strategic zone for oil production," spokeswoman Aimee Dewing with Last Chance Alliance, a group calling for a ban on production within the proposed buffer zone, told the Californian.
WHYY: Environmentalists say new fossil fuel projects could derail New Jersey’s climate goals
Susan Phillips, 4/12/22
“Environmental groups say New Jersey will not meet its climate goals unless it blocks several proposed fossil fuel projects, including a natural gas pipeline compressor station and an LNG export terminal in South Jersey,” WHYY reports. “Gov. Phil Murphy set a target of slashing the state’s current greenhouse gas emissions by 50% by 2030. But Empower New Jersey, a coalition of more than 135 groups that oppose new oil and gas infrastructure, points to seven pending projects it says would raise those emissions 38% if approved and completed. “We stopped the PennEast pipeline but now there’s a new pipeline,” Empower New Jersey spokesman David Pringle told WHYY. “The Regional Energy Access Expansion pipeline is a major project, and accounts for almost half of the additional emissions, 18 million metric tons.” “...Pringle told WHYY six projects approved during Murphy’s first term increased the state’s climate emissions by 19 million metric tons of carbon dioxide equivalent… “The Governor’s efforts on offshore wind are excellent,” Pringle told WHYY. “But offshore wind is only a piece of the solution. If these [fossil fuel] projects go forward, we’re not going to reduce the emissions we need to avert climate catastrophe.”
KWCH: Evacuation orders in place due to concerns from gas plant explosion near Haven
4/15/22
“Early Friday morning: Immediate evacuation orders are in place for the City of Haven after an explosion at the Haven Midstream gas plant Thursday afternoon,” KWCH reports. “The evacuations were originally lifted Thursday evening, but Reno County Emergency Management put the evacuations back in place due to new concerns of additional explosions. “Responding fire crews were met with active flames, heavy smoke, and explosions. Emergency crews established an initial perimeter around the plant and the initial fire was mostly contained,” Reno County Emergency Management Director Adam Weishaar said in an early-Friday-morning news release. Reno County officials said after further inspection of the plant, they found 2,000 to 3,000 gallons of trapped liquid natural gas. They said the relief valves are compromised, which could set off another explosion. Reno County Emergency Management said anyone within 1.5 miles of the Haven Midstream facility needs to evacuate immediately…“Officials said the evacuations could last up to 72 hours.”
EXTRACTION
Guardian: Forty XR activists arrested in various anti-fossil fuel protests across London
Sarah Haque and Nadeem Badshah, 4/16/22
“Six people have been arrested after Extinction Rebellion (XR) activists, including two Olympians, scaled an oil tanker in west London. The Metropolitan police said that 40 people were arrested in total on Saturday in a number of protests across the capital,” the Guardian reports. “The gold medal-winning canoeist Etienne Stott, along with two others, climbed on to the Shell tanker on Bayswater Road with a banner reading “End fossil filth”. Later on Saturday, two XR demonstrators scaled Marble Arch in central London to hang a banner as protests against fossil fuels continued for a seventh day. A man and a woman climbed up two pillars to hoist a green banner, which was about 10 metres wide and read “End fossil fuels now”, shortly before 6pm. On a road next to Marble Arch, a group of eight activists locked themselves on to a car while two glued themselves to the roof. On the tanker incident, Stott said: “I am acting to try to disrupt the toxic fossil fuel industry that is destroying everything we hold dear. I am hoping we can slow it down long enough to create a moment where everyone can stop and think where we are going and change course. “I am aware that my actions will cause anger to many people and I am prepared to be held accountable. But our government should also be held to account for its decisions, which are destroying our planet’s ability to support human civilisation.” “...On Friday, protesters blocked four of London’s busiest bridges and earlier this week obstructed the entrances to the insurance marketplace Lloyds of London.”
Canadian Press: Energy transition will be challenging in era of public protests, regulatory hurdles
4/18/22
“From carbon capture and hydrogen development to the accelerated rollout of wind and solar power and rapid electrification of transportation systems, the federal government has laid out an ambitious roadmap to get Canada to its climate target of cutting emissions by 40 per cent below 2005 levels by 2030, and net-zero emissions by 2050,” according to the Canadian Press. “But overhauling this country's entire energy infrastructure in a short amount of time represents an unprecedented technical challenge that will cost hundreds of billions of dollars, experts say. And pessimists are quick to point out that Canada doesn't have a good recent track record when it comes to getting ambitious, expensive infrastructure projects over the finish line. In Alberta in particular — where the ghosts of cancelled pipeline projects still haunt the public consciousness — some observers believe this country has lost the political will and spirit of national unity that's required to get big things done… “There are many other high-profile examples of troubled Canadian energy projects, from the Coastal GasLink pipeline — the construction of which led to rail blockades across the country by Indigenous opponents of the project and their supporters — to Pacific Northwest LNG, a proposed liquefied natural gas terminal in Prince Rupert, B.C., which was scrapped by Malaysia's Petronas and partners in 2017 in part because of concerns raised by local Indigenous groups about the project’s impact on salmon spawning grounds in the area… “Opponents of these projects say the cancellations and delays show the need to end reliance on the fossil fuel industry and move toward greener energy production.”
Globe and Mail: Oil and gas industry will lose public support if it doesn’t hit net zero by 2050, MEG Energy CEO says
EMMA GRANEY, 4/18/22
“Canada’s oil and gas sector must lower its emissions to net zero by 2050 or risk losing the public’s support for its operations, according to Derek Evans, the chief executive of MEG Energy, one of the country’s largest oil sands producers,” the Globe and Mail reports. “Like many in Canada’s fossil fuels sector, Mr. Evans says his ultimate vision is that the country will lead the world in delivering socially responsible, clean, environmentally friendly energy. “The key thing that people want to see – and that I think is going to allow us that social licence to continue to operate – is that net zero by 2050,” he said in a recent interview. “Until we get there and until we’ve developed that track record, I think it’s going to be hard to convince others that we should be exporting our products elsewhere.” And the sector must move quickly, he said, because if Canadian oil producers don’t massively reduce emissions they will “be fighting a rearguard action as to whether our barrels are better than anybody else’s at the end of the day.” “...Groups such as the International Energy Agency say carbon capture, utilization and storage (CCUS) – which forces carbon-dioxide emissions deep into the ground to keep them out of the atmosphere – will play a huge role in getting to net zero… “And Mr. Evans told the Mail a new CCUS tax credit in the 2022 federal budget – which will cover half of the construction costs of most of the energy sector’s planned carbon-storage projects – will ease the sector’s path to that goal… “And while Ms. Eyre told the Mail she is disappointed that the federal tax credit can’t be used for enhanced oil recovery, in which captured carbon is injected into mature oil wells to boost their production, she said 50-per-cent coverage for CCUS construction costs is “a workable number.” Mr. Evans told the Mail he is hopeful that Alberta will step up with incentives of its own, to bring the oil sector closer to the 75-per-cent tax credit it had originally asked for.”
Reuters: Cheniere Energy exec says surging U.S. natgas prices will spur production
By Marcy de Luna, 4/14/22
“Top U.S. liquefied natural gas producer Cheniere Energy (LNG.A) on Thursday said surging U.S. natural gas prices reflect past underinvestment followed by "a demand shock" as Europe seeks to wean itself from Russian gas, and that high prices will spur more production that will benefit consumers,” Reuters reports. “Gas traded at the main U.S. hub hit $7.30 per million British thermal units (mmBtus) on Thursday, up 96% this year to a 13-year high on record demand. Those prices has companies that consume lots of natural gas calling for curbs on new LNG plants. "What we are going through now is a demand shock to the industry that came after a relatively long period of underinvestment," Executive Vice President Anatol Feygin told Reuters in an interview at Cheniere's Sabine Pass LNG export terminal… “The spike in LNG demand from Europe, as buyers steer clear of Russian gas over its invasion of Ukraine, has not changed Cheniere's focus on its Asia markets, he told Reuters. "Ultimately the driver of growth for energy demand, for natural gas and LNG, we think is going to continue to be Asia. The plurality of those long-term, 20 plus year agreements have been with Asian counterparties.”
Politico: EPA CONFIRMS RECORD GHG DROP IN 2020
Matthew Choi, 4/15/22
“The U.S. reduced its total greenhouse gas emissions in 2020 by 9 percent, representing 590 million metric tons of carbon dioxide equivalent, according to EPA’s final inventory for that year,” Politico reports. “After taking comment on its February draft , EPA found emissions were a touch higher than it had thought. The sharp decline was "largely due" to pandemic-related reductions in travel and economic activity, but EPA argued it "also reflects the combined impacts of long-term trends in many factors, including population, economic growth, energy markets, technological changes including energy efficiency, and the carbon intensity of energy fuel choices." “...EPA said it has made several updates to its inventory process, including counting "post-meter" natural gas — leaked emissions from appliances, industrial facilities and vehicles, accounting for 8 percent of methane emissions from natural gas systems — as well as emissions from hydroelectric and agricultural reservoirs.”
CLIMATE FINANCE
Press release: Indigenous leader and concerned shareholders question TD Bank’s plan to address climate change and the financing of TMX
4/16/22
“TD Bank shareholders represented by SumOfUs, an international consumer group, presented a shareholder resolution calling on the second biggest Canadian bank to adopt a policy of not financing new fossil fuel supply, including financing of companies exploring or developing undeveloped oil and gas reserves, by the end of 2022. TD is also involved in the financing of controversial pipelines that do not have the Free, Prior and Informed Consent from all impacted Indigenous communities such as the Trans Mountain and Coastal GasLink pipelines. There were many questions from shareholders at the AGM addressing both TD’s climate financing in fossil fuel projects and in particular TD’s financing of Trans Mountain, all of which were inadequately answered by TD Bank. “We came here to tell TD’s management, shareholders and customers directly that Trans Mountain does not have the free, prior and informed consent of Tsleil-Waututh Nation and many other Indigenous communities” said Rueben George, Manager at Tsleil-Waututh Nation Sacred Trust Initiative, “TD dodged our questions with canned answers and continued the pattern of denial that is a common tool of colonization. TD talks a good game about reconciliation and environmental responsibility, but continues to walk in the opposite direction by financing fossil fuel projects that violate Indigenous rights.”
Press release: Stop the Money Pipeline coalition responds to Bank of America’s new 2030 climate targets
4/13/22
“Today Bank of America announced its 2030 climate targets that sidestep reductions in greenhouse gas emissions and opt for reductions in carbon intensity. Despite today’s commitment and a commitment to net zero, the fact remains that Bank of America has provided $232 billion in financing for the fossil fuel industry from 2016 to 2021. The news comes just 9 days after the Intergovernmental Panel on Climate Change (IPCC) warned investors of stranded fossil fuel assets that will amount to $4 trillion in a world where warming is limited to 2°C, and even more in a world where it is limited to 1.5°C. “Carbon intensity metrics are one of the worst examples of corporate greenwashing,” said Alec Connon, Stop the Money Pipeline Coalition co-director. “By using carbon intensity metrics, Bank of America has set up a situation where its overall greenhouse gas emissions could continue to rise until 2030 and it would still be able to claim that it has met its climate goals. Hopefully, investors take note of this duplicity and vote in favor of critical climate resolutions this shareholder season.” Investors are preparing to vote on a slate of shareholder resolutions at the Annual General Meetings (AGMs) of the six biggest US banks, including Bank of America, and several major US insurance companies. The resolutions call for financial companies to adopt policies to ensure their financing activities do not contribute to new fossil fuel expansion. Ahead of the AGMs, the Stop the Money Pipeline coalition has launched a campaign to encourage investors to vote yes on the resolutions. Stop the Money Pipeline is also pushing banks and insurance companies to pass policies, ahead of their AGMs that would prohibit lending, underwriting and insuring to corporations engaged in fossil fuel expansion.”
E&E News: Biden taps Fed regulator after climate views sank first pick
Robin Bravender, Nick Sobczyk, 4/15/22
“President Joe Biden today announced Michael Barr as his new pick to serve as the Federal Reserve’s top banking regulator after Democrats failed to muster the needed votes for the climate change expert last nominated for the job,” E&E News reports. “Barr, a veteran of the Treasury Department during the Obama and Clinton administrations, was among the architects of the Dodd–Frank Wall Street Reform and Consumer Protection Act, which cracked down on risky practices at financial institutions. He’s currently the dean of the Gerald R. Ford School of Public Policy at the University of Michigan… “Biden’s announcement comes after Sarah Bloom Raskin last month withdrew her nomination to be the Fed’s vice chair for supervision. Senate Republicans were united against her confirmation, and Sen. Joe Manchin (D-W.Va.) said he wouldn’t support Raskin due to her views on climate change. Raskin, a favorite of environmental groups, was a strong public advocate for tighter financial regulations on climate risk… “Manchin, another key vote, “hasn’t weighed in here yet,” his spokesperson, Sam Runyon, told E&E. Barr faced pushback from progressive groups last year when his name was floated as a nominee for comptroller of the currency, The New York Times reported. One of their criticisms was that Barr worked to weaken the Volcker Rule, which bars banks from proprietary trading.”
OPINION
Des Moines Register: Opinion: Bruce Rastetter is no climate hero
Anuradha Mittal is the founder and executive director of the Oakland Institute, 4/17/22
“As the fight to stop the Midwest Carbon Express heats up in Iowa, a diverse coalition of Indigenous groups, environmentalists, landowners, and farmers is fiercely opposing Summit Carbon Solution’s proposed $4.5 billion, 2,000-mile-long, carbon capture and storage pipeline,” Anuradha Mittal writes for the Des Moines Register. “Reasons for their opposition are several. First carbon capture and storage (CCS) is widely discredited as an effective climate solution… “Second, given it will carry highly hazardous materials, farmers and landowners are rightfully resisting such a pipeline to cross their land and threaten the health of their families and the environment. Resistance to the pipeline is also based in lack of faith in Bruce Rastetter — the man at the helm of Summit’s parent company — to prioritize the public good over his own profits. Given lofty promises of potential benefits from the Midwest Carbon Express, especially as they relate to a “world demanding more sustainability,” it is essential to examine Rastetter’s sustainability record on projects he has helmed… “As the co-founder of AgriSol Energy, in 2011, Rastetter acquired over 800,000 acres of land in the largest land deal in Tanzania — supposedly three “abandoned refugee camps” — to set up an agriculture enterprise with plans for industrial-scale crop cultivation, livestock, and agrofuel production. His plans, as exposed by the Oakland Institute, would have displaced over 162,000 smallholder farmers from their lands — all for the pittance of 23 cents an acre to be paid to the government. Citizen action against AgriSol’s project not only prevented mass displacement, but killed the project in 2012… “Someone with Rastetter’s dubious record cannot be entrusted with a project that bears such serious threats to people’s well-being, and health of precious farmland and waterways for years to come.”
The Hill: EPA must ban routine flaring to protect communities
Lisa DeVille is a citizen of the Mandan, Hidatsa and Arikara Nation and a charter member of Fort Berthold POWER, a group formed to protect the land, water and air on the Fort Berthold Reservation. She is also a member of the Dakota Resource Council, whose mission is to promote sustainable use of North Dakota’s natural resources and agriculture, 4/16/22
“For too long, oil and gas companies have been allowed to waste the natural resources of tribal nations through the wasteful practice of routine venting and flaring methane, which costs tribes millions of dollars in tax revenue and royalties, pollutes our air and threatens our climate,” Lisa DeVille writes for The Hill. “...It’s time to put the health and safety of communities first, and finally hold oil and gas companies accountable by banning routine flaring and venting… “Even though methane pollution accounts for one-quarter of today’s global warming, and other pollution released alongside methane can cause serious harm to public health, polluters in the oil and gas industry continue to practice routine flaring across the country without consequence — including in my own backyard. I am a proud citizen of the Mandan, Hidatsa, and Arikara (MHA) Nation, also known as the Three Affiliated Tribes. I have lived my whole life in Mandaree, North Dakota on the Fort Berthold Reservation. This land is sacred to my family, and the generations of tribal communities who have called it home. Unfortunately, our land is also home to more than 1,500 active oil and gas wells — which flare methane every single day. In 2019, oil and gas operators vented or flared approximately 150 billion cubic feet of methane or about $400 million worth of natural gas on federal and tribal lands. That is enough natural gas to meet the needs of 2.1 million households, which is nearly as many households as there are in New Mexico, North Dakota Utah and Wyoming combined. This waste costs taxpayers more than $50 million in federal royalty revenue, about half of which goes to states and tribes… “The Bureau of Land Management has a trust responsibility to prevent the waste of our resources. And just as important, the Environmental Protection Agency has the power to protect our air. Action by both agencies is critical to protect communities like mine. What we don’t have is time. We need federal action to ban routine venting and flaring, and we need it now.”
Bill McKibben: Joe Biden Supports a Windfall Profits Tax on Oil
4/15/22
“There is, I think, no real argument against a windfall profits tax on oil,” Bill McKibben writes. “ It’s not like it’s gotten more expensive to produce oil in recent months; the price has soared only because Vladimir Putin (long a partner of the big western oil companies, who financed his government lavishly) invaded Ukraine, causing prices to spike. This is the definition of a windfall, one that has given huge profits to oil companies, who have used them to buy back shares and enrich themselves and their biggest investors. That’s why bills have been introduced in the House and in the Senate, and why hundreds of civil society groups support them, and why huge majorities of the American people tell pollsters they want the laws to pass. The White House has made no decision, so perhaps they should consult Past Joe Biden. Here’s what he said in 1981, when the Reagan administration was trying to repeal the windfall profits tax he’d helped pass in the 1970s… “It is, of course, sad that we knew fifty years ago that our “only long-term hope” was the “development of renewable energy,” and that we haven’t done much to make it happen in the time since, even as the discovery we were warming the planet dramatically upped the stakes. But we have another chance, given the moment created by the Ukraine war. The plan then—forced conservation—is beyond anything the current political system would support: after four decades of Reaganite hyper-individualism, we’re spoiled and wouldn’t stand for it. But the windfall profits tax—that should be a political no-brainer; so should a LendLease type effort to send heat pumps off to Europe to cut their demand. So far the White House has said nothing definitive about either one.”