EXTRACTED: Daily News Clips 7/18/22
(Note to Readers: The next edition of “Extracted” will be published on Friday, July 22.)
PIPELINE NEWS
Common Dreams: Biden Urged to Respond to Manchin by Killing West Virginia Fracked Gas Pipeline
Globe Gazette: Goldfield's Corn, LP partners with Summit Carbon Solutions
Corridor Business Journal: Utilities Board sets public meetings for Wolf Carbon CO2 pipeline proposal
WLDS: Coalition to Stop CO2 Pipelines Asks Morgan County Board to Add Zoning Ahead of Proposed Project
NWIowa.com: Unlikely allies leading anti-pipeline fight
WASHINGTON UPDATES
E&E News: Manchin: ‘I want climate’
E&E News: Dems cite ‘disturbing’ data on crypto, demand new rules
EXTRACTION
Canadian Press: Oil sands looks into using nuclear power to slash emissions
Kamloops Now: Feds propose to cap oil, gas emissions using industry-specific carbon pricing system
Politico: Why natural gas could ditch its ‘evil’ energy reputation
The Hill: Four companies are top sources of US greenhouse gas, methane emissions: report
Reuters: U.S. oil mergers drop to $12 billion as volatility limits deals
Reuters: Momentum Midstream to buy Midcoast Energy assets for $1.3 billion
The Tyee: Alberta’s Energy ‘War Room’ Hires a New Fighter
CLIMATE FINANCE
Financial Times: Energy crisis prompts ESG rethink on oil and gas
Motley Fool: This Oil Stock Is Making a Massive Bet on Natural Gas
OPINION
Sweetwater Now: OPINION: BLM’s Deferral of Oil and Gas Sale Leases Within Greater Little Mountain Area Was the Right Move
The Hill: West Virginia v. EPA and the SEC climate risk disclosure rule
PIPELINE NEWS
Common Dreams: Biden Urged to Respond to Manchin by Killing West Virginia Fracked Gas Pipeline
JAKE JOHNSON, 7/15/22
“President Joe Biden on Friday faced calls to respond forcefully to Sen. Joe Manchin's latest climate obstruction by canceling a fracked gas pipeline in the right-wing Democrat's home state of West Virginia, a move that would prevent around 90 million metric tons of new greenhouse gas emissions from being spewed into the atmosphere each year,” Common Dreams reports. “Manchin, a close ally of the fossil fuel industry and a coal profiteer in his own right, has been a vocal proponent of the Mountain Valley Pipeline, a project that—if completed—would carry gas along a 300-mile course spanning from northwestern West Virginia to southern Virginia… “Dana Nuccitelli, research coordinator for the Citizens' Climate Lobby, tweeted Thursday that the Biden administration should instead "immediately terminate the Mountain Valley Pipeline and curtail offshore drilling," something Manchin also favors… “The multibillion-dollar Mountain Valley project has been bogged down in regulatory and court battles for years as advocates and Indigenous groups warn it would endanger key waterways and forest land. Oil Change International and Bold Alliance estimated in a 2017 analysis that the completed pipeline would produce 89,526,651 metric tons of greenhouse gas emissions annually, the equivalent of 26 coal plants or 19 million passenger vehicles… “Earlier this week, The Washington Post reported that the Biden administration was exploring a potential arrangement under which federal officials would grant approval to the Mountain Valley pipeline and other fossil fuel projects in exchange for Manchin's support for limited renewable energy investments. Climate advocates were highly critical of such a trade-off, warning it would ultimately harm the planet. After Thursday's meeting between Manchin and Schumer, environmentalists said Biden should shift his focus to what he can do unilaterally to slash carbon emissions and stave off climate catastrophe.”
Globe Gazette: Goldfield's Corn, LP partners with Summit Carbon Solutions
Rae Burnette, 7/15/2
“Corn, LP in Goldfield marked its recent partnership with Summit Carbon Solutions on Tuesday,” the Globe Gazette reports. “...Corn, LP is one of 11 partners Summit Carbon Solutions has taken on in Iowa, including Golden Grain Energy in Mason City. Cerro Gordo County is expected to have one of the largest total operation property tax impacts, which is an estimated $1.9 million. "With this project, it can really put us on a path to being a carbon negative plant in the future." Corn, LP General Manager Chris Boshart told the Gazette… “So far, 244 miles of easements have been signed for the project in Iowa, about 35% of the project map… “However the project is not without pushback from Iowans… “One concern many have for the pipeline is the safety of the pipeline, along with the potential for eminent domain takeovers and contract violations on easements… “One largely unanswered question remains among other concerns: what are the long-term effects of underground CO2 storage?.. “In a study conducted by the Earth Sciences Division, Lawrence Berkeley National Laboratory, a conceptual model was developed of CO2 injection in bedded sandstone and shale… “This study found that when both water and CO2 gas pressure were equally saturated, with pressure similar to being pumped two kilometers underground, it would take 100,000 years for the sandstone to reach its absorption capacity. During that time, the makeup of the sandstone changes, as well as leeches some carbon into the shale around it. With 12 million tons of CO2 being pumped underground each year in North Dakota, it is unknown how much quicker the sandstone will reach capacity, how the sandstone minerals will change, how carbon will react with other sediments, how the sandstone aquifers used will act as an open system of water and what happens when the sandstone can no longer absorb the carbon dioxide.”
Corridor Business Journal: Utilities Board sets public meetings for Wolf Carbon CO2 pipeline proposal
Richard Pratt, 7/14/22
“The Iowa Utilities Board has approved a series of six public informational meetings requested by Wolf Carbon Solutions, which has proposed a 350-mile pipeline to transport liquefied carbon dioxide from a pair of Eastern Iowa ADM plants to an underground sequestration facility in Illinois,” Corridor Business Journal reports. “A docket for the CO2 pipeline proposal from Denver, Colorado-based Wolf Carbon Solutions has been filed with the Iowa Utilities Board, detailing a proposed pipeline route that would connect ADM plants in Cedar Rapids and Clinton to a terminus near Decatur, Illinois, where the liquefied gas would be sequestered underground… “ADM says its carbon capture and sequestration capabilities in Decatur have allowed it to safely and permanently store underground more than 3.5 million metric tons of CO2, paving the way for increased decarbonization of the company’s operations. A number of objections to the plan have already been filed in the project’s official IUB docket. One filing includes objections from several Sierra Club members, requesting that an environmental impact study be conducted to “understand the cumulative effects the proposed carbon dioxide pipeline projects have on Iowa’s environment” and expressing support for the Winnebago Tribe of Nebraska’s request for a similar study.”
WLDS: Coalition to Stop CO2 Pipelines Asks Morgan County Board to Add Zoning Ahead of Proposed Project
Benjamin Cox, 7/13/22
“The Coalition to Stop CO2 Pipelines visited the Morgan County Commissioners Monday morning asking them to put in place a zoning ordinance specifically dealing with carbon dioxide sequestration pipelines,” WLDS reports. “Lan & Pam Richart of the coalition tell WLDS that the group is comprised of various people on opposing sides of the climate change debate but have found the common ground that CO2 pipelines cause various problems. Lan Richart tells WLDS that the Carbon Capture technology allows the nation’s biggest polluters to continue their operations with public money… “And we see the problem environmentally that carbon capture and storage, although in a concept it may work, and may be applicable at some point in the future. In the short term, it is in our opinion a way to perpetuate the oil and gas industry.” Lan Richart says that much of the CO2 that is sequestered is used to enhance oil recovery from the ground instead of reducing the need for it. Pam Richart says that safety is one of the largest concerns for the pipeline, as the science for this type of pipeline has not been perfected. “At this particular time, the technology isn’t really there to ensure it can be done safely. This is thirteen hundred miles, there’s only five thousand miles of pipeline in the entire country. Most of those are in short segments, they go from point A. to point B. Navigator has about thirty-two point sources that they are bringing in online trying to maintain the pressure, trying to make sure there’s no moisture in the pipe. When moisture gets in the pipeline it corrodes it and it erupts. So I’m not sure we’re ready for this yet.” The Richarts tell WLDS a comprehensive zoning ordinance would go a long way to protect the citizens of the county and hold Navigator, the owner of the project, accountable for land use and any problems that could occur.”
NWIowa.com: Unlikely allies leading anti-pipeline fight
Elijah Helton, 7/16/22
“The movement to stop the carbon pipelines spans more than just thousands of miles of farmland; it crosses the widest of Iowa’s political divides,” NWIowa.com reports. “...Environmental activist Jess Mazour led a protest against the pipeline in Des Moines hours before DeWeese’s speech in N’West Iowa. “It is so obvious the only people that want this are the ones that stand to benefit from it economically,” Mazour told NWIowa.com. She acknowledged the peculiar alliance that has formed against the pipelines. The Sierra Club, the group Mazour works for, usually supports liberal candidates and policies but has allied with numerous independent and Republican farmers in the fight against the pipelines. Tuesday’s demonstration in the capital had dozens of attendees of various partisan stripes… “Mazour called the protest an “incredibly powerful” show of strength with many in the group speaking on their objections to the projects… “After the IUB demonstration, the group drove to the Governor’s Mansion. Gov. Kim Reynolds has spoken favorably about carbon-capture efforts like the pipelines and her office appoints the members of the IUB. DeWeese and Mazour recognize their opponent as the rich and powerful, not Democrats and Republicans… “Mazour noted that she rarely hears pro-pipeline arguments from people unless they stand to financially benefit from the projects. Ethanol plants and agricultural associations may be all in, she said, but regular members remain unmoved. Most of the farmers Mazour works with are Republicans, and she told NWIowa.com the movement shows the progress that can be made together when partisanship is irrelevant. “It’s an opportunity for all of us to listen to a side we’ve never really been open to and hopefully find common ground in it. It just reminds me that this is so clearly not a partisan issue, it’s a moral issue,” Mazour told NWIowa.com.
WASHINGTON UPDATES
E&E News: Manchin: ‘I want climate’
Nick Sobczyk, 7/15/22
“Sen. Joe Manchin indicated this morning that he would still be open to legislating on climate in September if inflation begins to come down,” E&E News reports. “In an interview with Hoppy Kercheval of West Virginia MetroNews, Manchin outlined the conversations with Senate Majority Leader Chuck Schumer (D-N.Y.) leading up to the news last night that the West Virginia Democrat had killed the climate and tax provisions of a party-line reconciliation bill. “As far as I’m concerned, I want climate. I want an energy policy,” Manchin said… “A Democrat familiar with the deliberations told E&E News and other outlets yesterday Manchin has “unequivocally” rejected the clean energy provisions under negotiation, and Democrats are likely to be skeptical of any path forward given nearly a year of failed discussions. Manchin, the Energy and Natural Resources chair, effectively confirmed that he has quashed any action on climate this month, but his comments this morning did raise the possibility of action in September if energy prices and inflation start trickling downward… “Can’t we wait to make sure that we do nothing to add to [inflation]?” Manchin said. “And I can’t make that decision basically on taxes of any type and also on the energy and climate because it takes the taxes to pay for the investment in the clean technology that I’m in favor of. But I’m not going to do something and overreach that causes more problems.” “...The lack of climate provisions could be devastating, both to the environmental community and to President Joe Biden’s greenhouse gas emissions reduction goals… “Like most Americans right now, I am sickened that the changing whims of one man could put the very near future of our country, our planet, and our health and safety on the brink. I think it’s shortsighted at best, reckless endangerment at worst,” House Natural Resources Chair Raúl Grijalva (D-Ariz.) said in a statement… “After news broke that Manchin had killed the climate section altogether, many Democrats began calling for robust executive action to take its place.”
E&E News: Dems cite ‘disturbing’ data on crypto, demand new rules
Jennifer Yachnin, 7/15/22
“Democratic lawmakers today are renewing calls for federal agencies to force cryptocurrency mining firms to disclose their emissions and energy use, after an investigation revealed that major firms in the United States are using power on par with major cities,” E&E News reports. “Massachusetts Sen. Elizabeth Warren and California Rep. Jared Huffman disclosed today that their inquiry into seven cryptocurrency mining firms operating in the United States showed that they use 1,045 megawatts, or the same capacity required by Houston, which has a population of 2.3 million people. The lawmakers likewise revealed that the cryptomining process results in carbon emissions of at least 1.6 million tons annually and increases energy prices for other consumers. “The results of our investigation, which gathered data from just seven companies, are disturbing, with this limited data alone revealing that cryptominers are large energy users that account for a significant — and rapidly growing — amount of carbon emissions,” Warren and Huffman wrote in a letter to Energy Secretary Jennifer Granholm and EPA Administrator Michael Regan… “The lawmakers went on to press the Biden administration to use “all available authorities at your disposal,” including the Clean Air Act, to require cryptocurrency mining firms to disclose their emissions contributions and energy use.” “...Some of the companies surveyed by Democrats have sought to frame their activities as environmentally friendly.”
EXTRACTION
Canadian Press: Oil sands looks into using nuclear power to slash emissions
AMANDA STEPHENSON, 7/17/22
“The pressing global need to slash emissions in the face of a growing climate crisis is driving renewed interest in nuclear power – and few places more so than in Canada’s oil sands,” the Canadian Press reports. “While the idea of using nuclear power to replace the fossil fuels burned in oil-sands production has been bandied about for years, some experts say the reality could be just a decade or so away. On paper, at least, there is more potential to deploy small modular reactor (SMR) technology in the oil-sands region of Alberta than anywhere else in the country… “Small modular reactors are a type of nuclear design that is far smaller than a traditional nuclear reactor. Generating between 10 and 300 MW of energy, SMRs are fully scalable and are designed to be built economically in factory conditions, rather than on site such as a large-scale conventional reactor. While SMRs are not yet commercially available, the technology is getting close… “Proponents say SMRs could potentially be used not only to provide clean electricity to smaller electricity grids, such as those in rural areas, but also to provide heat for natural resource industries. In the oil sands, operators use massive amounts of high-temperature heat to produce the steam needed to extract bitumen from sand – and they get that heat by burning natural gas. In total, the oil and gas industry accounts for 30 per cent of Canada’s natural gas consumption, which means confronting the industry’s fossil-fuel usage will be key if Canada is to meet its climate commitments… “But Pathways has also formed a committee to formally explore nuclear as an alternative to natural gas in oil-sands production… “Dan Wicklum, president and CEO of non-profit advisory group The Transition Accelerator and the former CEO of the Canadian Oil Sands Innovation Alliance, told CP the energy industry has formally evaluated the nuclear opportunity in the past and discarded it, largely because of cost. But he told CP the industry’s new target of net-zero emissions “changes everything.” “Industry is looking to the federal government to say, ‘make it worth our while,’ " he told CP. “They want more taxpayer dollars. They’ve essentially said there’s not enough public support right now for them to act. And because of that, I think, the feasibility of SMRs – as well as carbon capture and storage, and so on – is completely in question.”
Kamloops Now: Feds propose to cap oil, gas emissions using industry-specific carbon pricing system
7/17/22
“The federal government is proposing to use an industry−specific cap−and−trade system or a modified carbon pricing system to set a ceiling for emissions from the oil and gas sector and drive them down almost 40 per cent by the end of this decade,” Kamloops Now reports. “The two options are contained in a discussion paper Environment Minister Steven Guilbeault will publish Monday. It is the first glimpse Canadians are getting of how the Liberals expect to implement the oil and gas emissions cap promised in last year’s election. The oil and gas industry accounts for more than one−quarter of Canada’s total emissions — 179 million tonnes in 2020, or about what an average car would emit driving around the equator more than 17 million times… “Background documents and government sources suggest the cap for 2030 will be very close to the one proposed in the new national Emissions Reduction Plan in March — 110 million tonnes. That’s a 46% cut from 2019 levels, and 32% over 2005. Canada is aiming to cut emissions across all sectors 40 to 45% from 2005 levels by 2030. The oil and gas sector has not had emissions that low since 1992. In the last three decades, as production of gas, conventional oil and oilsands soared, emissions from the sector have risen 83%. Overall emissions in Canada are about 23% higher over the same time period. Input on the options to manage the cap will be accepted until Sept. 21 with Guilbeault aiming to unveil the final plan early in 2023.”
Politico: Why natural gas could ditch its ‘evil’ energy reputation
Zack Colman, 7/15/22
“Natural gas is shedding its pariah status in countries that once dismissed the fossil fuel as a path to a climate disaster — and the new global scramble for gas is feeding tensions between rich and poor countries over access to the fuel,” Politico reports. “The sanctions levied on Russian energy imports after Moscow's invasion of Ukraine have upended global energy markets, sending prices for natural gas spiking in Europe as countries there have desperately sought new sources of the fuel to fill their storage tanks before winter. That's forced those governments to pivot from their aggressive climate rhetoric to focus on energy security, and led to the surprise move by the EU to label natural gas as "green" energy suitable for sustainable investment. “Natural gas was moved into the evil camp with coal and oil,” Bob McNally, president of U.S. energy consulting firm Rapidan Energy, told Politico. “Now that is being reconsidered. Gas is being fished out of the evil category…”
The Hill: Four companies are top sources of US greenhouse gas, methane emissions: report
ZACK BUDRYK, 7/14/22
“Four energy companies — Exxon Mobil, ConocoPhillips, Hilcorp and Occidental Petroleum — are the top sources in the U.S. of both greenhouse gas emissions in general and methane emissions, according to a report issued Thursday by environmental groups Ceres and the Clean Air Task Force,” The Hill reports. “The report, based on data submitted to the Environmental Protection Agency (EPA) from major oil and gas producers, found wide variation in emissions among companies, with the highest-emitting companies producing methane emissions nearly 24 times more intense than those with the lowest emissions. Hilcorp led for total methane emissions in 2020, followed by Exxon, Occidental and ConocoPhillips, according to the research. The companies collectively reported more than 300,000 metric tons in methane emissions. The report found equipment operation was also a major determinant of emissions intensity. For example, it found companies that practice flaring, or burning off extra natural gas, had more intense carbon dioxide emissions, and those that used pneumatic controllers — which control for factors like pressure and temperature but emit natural gas in the process — comprised 62 percent of methane emissions… “This new report makes clear what experts have long known: There are clear steps oil and gas producers can take to reduce their methane and other greenhouse gas emissions,” Lesley Feldman, a senior analyst at the Clean Air Task Force, told The Hill. “Some are taking those steps while others are not, and federal and state regulations are key to ensuring we can standardize best practices across the industry.”
Reuters: U.S. oil mergers drop to $12 billion as volatility limits deals
Laila Kearney, 7/14/22
“U.S. oil and gas dealmaking fell to $12 billion last quarter, down from the first quarter and nearly a third of the $34.8 billion in the same period a year ago, as commodity price volatility left buyers and sellers clashing over asset values, according to data released by energy analytics firm Enverus on Thursday,” Reuters reports. "The spike in commodity prices that followed Russia’s invasion of Ukraine temporarily stalled M&A as buyers and sellers disagreed on the value of assets," Andrew Dittmar, a director at Enverus Intelligence Research, told Reuters. U.S. benchmark crude oil futures prices surged to more than $123 a barrel in early March following Russia's invasion of Ukraine, but prices have since cooled as recession worries moved to the forefront. But last quarter's high prices prompted M&A interest from private equity firms and spurred some deals, Dittmar told Reuters. Private equity sellers made up about 80% of quarter's total deal value, Enverus data showed. This year's oil prices have led to a rush among private investors to put properties across the U.S. shale patch on the market, Dittmar told Reuters.”
Reuters: Momentum Midstream to buy Midcoast Energy assets for $1.3 billion
David French, 7/15/22
“Privately-owned Momentum Midstream has agreed to buy pipeline assets in the East Texas part of the Haynesville Shale from Midcoast Energy for $1.3 billion, including debt, people familiar with the matter said on Friday,” Reuters reports. “Houston-based Momentum has been a prolific developer of pipeline companies, although it has been out of the market since 2019 when it sold its fourth and fifth projects to Williams Companies and DT Midstream (DTM.N) respectively… “Energy pipelines have become more valuable since Russia's attack on Ukraine in February drove up oil and gas prices to multi-year highs. Private equity firms, which own energy companies, are looking to cash in and divest such assets at high valuations… “Midcoast Energy operates a 3,625-mile (5,834 km) gathering and processing pipeline network that transports natural gas and natural gas liquids, as well as a marketing and logistics business, according to its website.”
The Tyee: Alberta’s Energy ‘War Room’ Hires a New Fighter
Geoff Dembicki, 7/18/22
“An Alberta organization that spreads government propaganda about the oil and gas industry has hired a U.S. crisis management firm whose stated mission is to defend against “predatory” journalists,” The Tyee reports. “CounterPoint Strategies was contracted by the Canadian Energy Centre, also known as Alberta’s Energy War Room, to “provide strategic advice and assistance with social media and digital communications relating to U.S. energy issues,” according to documents registered in early May with the U.S. Department of Justice. CounterPoint explains on its website that it works with “clients that are being threatened in the public discourse.” Its services are necessary, because the “modern news media” is “hostile, aggressive, and willing to disregard standards and collude with almost any antagonist.” The firm advertises a “counter-adversarial strategy” for fighting back. “We can stop hostile coverage in its tracks,” it says. “This may be a response to the fact that news media outside of Alberta have been bringing more accountability to bear on the oilsands and the provincial government,” Sean Holman, an environmental and climate journalism professor at the University of Victoria, told the Tyee of the Alberta contract with CounterPoint. The Tyee reached out to the Canadian Energy Centre, which is funded by the Alberta government and has three provincial cabinet ministers on its board, to ask whether it shares CounterPoint’s perspective on journalism. “There are a lot of good journalists doing very important work,” Tom Olsen, CEO and Managing Director of the Canadian Energy Centre, wrote to The Tyee in an email.
CLIMATE FINANCE
Financial Times: Energy crisis prompts ESG rethink on oil and gas
Chris Flood, 7/17/22
“Russia’s invasion of Ukraine has made the immense task of reducing the global economy’s addiction to fossil fuels even more daunting,” the Financial Times reports. “Existing pledges to cut carbon emissions to net zero by 2050 were already challenging enough. Now, governments and companies are scrambling to balance their green ambitions with the new imperatives of energy security. Just as the Ukraine war has sparked intense debate over whether defence companies should be considered suitable for sustainable investment strategies, the conflict has also prompted discussion about the role of oil and gas producers in investors’ portfolios. Mark Lacey, lead manager of Schroders’ $3bn ISF Global Energy and Energy Transition strategies, told FT that investors are starting to look more favourably on energy companies because of their vital role in the transition to a decarbonised economy. He adds that these businesses “have been taking the net zero challenge much more seriously” since 2015, through investments in technologies such as hydrogen and carbon capture. “The Ukraine war has highlighted the need for a more orderly transition, for social reasons as much as for environmental reasons,” Lacey told FT. “Sentiment is definitely moving in favour of energy companies, even among investors that thought they would never want to be involved in the sector.” European funds that employ environmental, social and governance (ESG) metrics as a group are heavily “underweight” in oil and gas stocks but some tentative signs of a shift in positioning have appeared. Six per cent of European ESG funds now own Shell, compared to zero per cent at the end of last year, according to Bank of America. Holdings have also risen modestly this year in other energy companies, including Galp Energy, Repsol, Aker BP and Neste, across the 1,200 European ESG active and passive funds monitored by BofA. “We believe [some] ESG funds are revisiting the cost of exclusion [of energy companies] given their underperformance in the first half of 2022 or waiting for regulations to be finalised amid greenwashing fears,” Menka Bajaj, an ESG strategist at BofA, told FT. A new law designating gas and nuclear energy as sustainable was approved this month by the European parliament, following months of fierce debate.”
Motley Fool: This Oil Stock Is Making a Massive Bet on Natural Gas
Matthew DiLallo, 7/17/22
“Natural gas is becoming an increasingly vital fuel. It produces fewer carbon emissions when consumed than coal and refined petroleum products, making it a cleaner option for the economy and environment. Meanwhile, energy security has come to the forefront, with Russia using its vast natural gas resources as a strategic weapon in Europe following its invasion of Ukraine,” Motley Fool reports. “These trends are leading U.S. oil and gas giant ConocoPhillips to significantly ramp up its natural gas investments. The company recently announced its third deal to expand its liquified natural gas (LNG) capabilities, setting it up to capitalize on growing global natural gas demand… “Growing demand is the main driver of ConocoPhillips' decision to ramp up its LNG investments. According to a forecast by industry leader Shell (SHEL 2.88%), global LNG demand will grow from 380 million tons per year in 2021 to 700 million tons by 2040. Further, Shell sees a gap between supply and demand emerging by the middle of this decade, which could drive already record-high natural gas and LNG prices even higher. Add in natural gas' more environmentally friendly carbon emissions profile and the increasing shift toward energy security, and LNG appears poised to boom in the coming years… “ConocoPhillips is accelerating its LNG investments to capitalize on the booming demand for that cleaner fuel. While some of its investments will take a while to pay off, given the time needed to build LNG export facilities, these long-term investments could pay big dividends for shareholders.”
OPINION
Sweetwater Now: OPINION: BLM’s Deferral of Oil and Gas Sale Leases Within Greater Little Mountain Area Was the Right Move
Joshua W.D. Coursey, Muley Fanatic Foundation President/CEO, 7/14/22
“This summer, the Bureau of Land Management (BLM) held its first federal oil and gas lease sale in Wyoming since 2020, making almost 120,000 acres of federal lands available for leasing. These public lands were intentionally chosen to make the best use of areas close to existing development, while avoiding places with outstanding cultural resources and habitat values–such as land inside the Greater Little Mountain area which BLM deferred before the sale took place,” Joshua W.D. Coursey writes for Sweetwater Now. “The deferral was a huge win for hunters and anglers like myself, who cherish this landscape and the ability to hunt and fish in our own backyards. Greater Little Mountain supports a wide variety of fish and wildlife habitats, from desert floors to high conifer sub-Alpine peaks. And it is beloved by many sportsmen, sportswomen, and recreationists, not just in Wyoming, but from across the country and around the world. Energy development has always been a cornerstone of Wyoming’s economy, but the Greater Little Mountain Area is one place where everyone can agree that it simply does not belong. DOI’s decision not to lease land inside the Greater Little Mountain area shows that the agency has listened to and honored input from Wyoming’s governors, the Sweetwater County Commission, conservation groups, and local stakeholders who have spent years working to protect Little Mountain and its wildlife and recreation opportunities. This decision also made clear that the agency is acting responsibly when deciding what lands are going to be offered in oil and gas lease sales… “President Biden and Secretary Haaland must continue to put Wyoming’s public lands and wildlife first by moving forward with lasting, common-sense reforms to the federal oil and gas leasing system.”
The Hill: West Virginia v. EPA and the SEC climate risk disclosure rule
Benjamin Zycher is a senior fellow at the American Enterprise Institute, 7/16/22
“The Securities and Exchange Commission (SEC) is in the process of finalizing its proposed “climate risk” disclosure rule for public companies. But the SEC has a huge amount of work to do, as the problems with the rule as proposed are legion, reflected by the voluminous economic, legal, scientific and policy- and sector-specific criticism that it has received,” Benjamin Zycher writes for The Hill. “...Under the proposed climate risk disclosure rule, the SEC is seeking to create a new regulatory requirement for detailed disclosures by public companies on climate matters never addressed by the SEC and with respect to which the SEC has no institutional expertise or experience; and that Congress repeatedly has failed to authorize in legislation… “The proposed rule would create political pressures, regulatory constraints and litigation risks leading public companies to undertake climate risk analyses insulating them from such threats. Such analyses would have little to do with science, but instead would be politicized, biased heavily toward published estimation of climate risks greater rather than smaller on the part of public companies, with no material benefits for investors… “Congress has enacted no legislation with such intended or even unintended consequences. The court emphasized that protection of our political institutions is consistent only with formal policymaking by Congress, institutional protection that preserves the political accountability of the policymaking process under the institutions of democratic decisionmaking as constrained by the Constitution.”