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Fossil, Renewable Energy Advocates Alike Applaud Passing of $2.3T Spending Bill Proponents of the natural gas, oil and renewable energy sectors all found something to like about a $2.3 trillion omnibus spending and coronavirus relief package passed late Monday by the House and Senate. The American Petroleum Institute (API) praised legislators for including several provisions from Sen. Lisa Murkowski’s (R-AK) American Energy Innovation Act, including parts of two bipartisan bills to promote carbon capture, utilization and storage (CCUS). “We commend the bipartisan group of lawmakers who ha...

The natural gas storage report from the EIA for the week ending December 11th indicated that the quantity of natural gas held in underground storage in the US had decreased by 122 billion cubic feet to 3,726 billion cubic feet by the end of the week, which left our gas supplies 284 billion cubic feet, or still 8.3% higher than the 3,442 billion cubic feet that were in storage on December 11th of last year, and 243 billion cubic feet, or 7.0% above the five-year average of 3,483 billion cubic feet of natural gas that have been in storage as of the 11th of December in recent years....the 122 bi...

The next phase of the decade-long fight over oil money disclosure Illustration: Sarah Grillo/Axios This week brought a new and maybe decisive turn in a high-stakes fight over how much oil and mining companies should reveal about payments to foreign governments. Driving the news: The Securities and Exchange Commission voted 3-2 Wednesday to finalize disclosure rules required under the 2010 Dodd-Frank financial law. But the panel's Democrats and human rights groups called it too weak. Why it matters: The Dodd-Frank provision aims to create transparency to battle the "resource curse." That's the...

By Aaron Nicodemus2020-12-16T20:55:00+00:00 The Securities and Exchange Commission (SEC) on Wednesday approved revamped rules laying out what commercial oil, natural gas, and mineral extraction companies must disclose about payments they make to U.S. and foreign governments. The rules had first been issued as part of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 but were knocked down in a 2012 lawsuit filed by the American Petroleum Institute (API). A second version of the rules was rescinded by Congress in 2017 using the Congressional Review Act (CRA). The SEC issued ...

Katanga Johnson, Reuters Your browser does not support the audio element. The U.S. Securities and Exchange Commission (SEC) on Dec. 16 relaxed requirements on oil, gas and mining companies to disclose payments made to foreign governments, completing a rule created by Congress after the government bailout of Wall Street in 2008. The SEC voted 3-2 to adopt industry-friendly changes to its "resources extraction" disclosure rule following a 10-year industry fight to water down the measure, mandated by the 2010 Dodd Frank law passed to battle corporate corruption. It was the third version of the ...