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Low Carbon Act Gains Support |
U.S. utility executives and labor bosses came out in force recently to support a Senate climate change bill that some believe stands the best chance for becoming law, or at least lays the legislative groundwork for a fused bill with stronger standards.
The Low Carbon Act of 2007 has garnered bipartisan and industry support as a moderate way to cut carbon dioxide emissions without damaging the economy, though is likely to face tough opposition from both environmentalists and legislators seeking more stringent measures and Republican skeptics.
Flanked by the chief executives and union heads that helped to author the bill, lead sponsor Sen. Jeff Bingaman, D-N.M., said at at the bill's launch that his legislation is a balanced, pragmatic approach without a severe financial burden. Full Story  |
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Politics Force U.S. Automakers to Back Higher Fuel Economy Standards
For a quarter-century, American automakers and their allies argued that any legislation to increase fuel economy standards would rob them of profits, force them to lay off workers and deprive consumers of the vehicles they wanted to buy.
Even as recently as last weekend, a lobbying group financed by auto companies was still running radio ads in 11 states, raising the prospect that soccer moms might lose the opportunity to buy big sport utility vehicles if they did not urge Congress to reject legislation calling for higher mileage.
“Why can't they let me make the choice?” one of the ads said. “I'm all for better fuel economy, but for me safety is my top concern.” Full Story |
Senate Rejects Proposal That Would Have Endangered LNG Projects
The U.S. Senate, in a 56-to-37 vote, recently rejected a legislative proposal offered by Sen. Benjamin Cardin , D-Md., that would have put some liquefied natural gas, or LNG, projects in danger.
Cardin said the legislation, which he offered as an amendment to a broad energy bill being debated in the Senate this week, wasn't meant to kill all LNG plants. It was aimed, he said, at restoring states' authority over the location of the energy facilities, which are used to receive shipments of natural gas from overseas.
"This is not about stopping LNG plants from being sited," said the lawmaker. " This amendment is about siting LNG plants where they should be sited. We want to make sure they're sited in the right locations." Full Story |
Oil Crisis Looming in Five Years
The International Energy Agency warned recently of a global oil and gas crunch due to unforeseen demand and inadequate supply from OPEC and other suppliers.
"Not only does oil look extremely tight in five years time, but this coincides with the prospect of even tighter natural gas markets at the turn of the decade," the energy security watchdog for the 26-nation Organization for Economic Cooperation and Development said in an oil market report.
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Oil Industry Scaling Back Refinery Plans Due to Ethanol and Higher Fuel Economy
A push from Congress and the White House for huge increases in biofuels, such as ethanol, is prompting the oil industry to scale back its plans for refinery expansions. That could keep gasoline prices high, possibly for years to come.
With President Bush calling for a 20 percent drop in gasoline use and the Senate now debating legislation for huge increases in ethanol production, oil companies see growing uncertainty about future gasoline demand and little need to expand refineries or build new ones.
Oil industry executives no longer believe there will be the demand for gasoline during the next decade to warrant the billions of dollars in refinery expansions — as much as 10 percent increase in new refining capacity — they anticipated as recently as a year ago.
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Save The Date – National Association of Power Engineers Meeting
September 27, 2007
Winter 2007 – 2008 Natural Gas Supply and Pricing Outlook
John Righeimer – President - Maverick Energy
All meetings are held at 12 noon at Citizens Gas, 2020 North Meridian Street, Indianapolis, IN.
For more information please contact Rick Ratliff at DLR Mechanical at (317) 253-6822. |
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