Exxon asserts that the board's action effectively prevents the company from restarting three offshore drilling platforms and refinery operations shut down.
Some sands producers say lack of pricing certainty has held them back from making significant investments in emission reduction projects like carbon capture and storage.
The three sales were the last to be held under a 5-year plan for leasing in federal waters on the outer continental shelf. That plan expires in June, and the Biden administration has not finalized a new program.
The Alberta Court of Appeal said the Impact Assessment Act (IAA), which assesses how major infrastructure projects in Canada like pipelines impact the environment, was a “classic example of legislative creep.”
Europe’s rejection of Russian natural gas could translate into a boom in infrastructure to meet demand.
If the bill passes the full Senate and House, the U.S. attorney general would gain the ability to sue OPEC or its members in federal court.
President Joe Biden wants half of vehicles sold in the U.S. to be electric by 2030.
“We hope our program will be able to streamline the process and allow for the timely issue of Class VI permits,” Leslie Savage, Texas RRC’s chief geologist, said in a statement referring to carbon capture and storage wells.
The NOPEC legislation could create unintended negative consequences for the U.S. oil and natural gas industry, while likely having limited impact on the market concerns that drive the bill, the API said in a letter seen by Reuters.
The NOPEC bill gives the option to the U.S. Attorney General to sue oil-producing countries, such as those in the Organization of the Petroleum Exporting Countries, under anti-trust laws.