Geoff Cooper, president and CEO of ethanol trade group the Renewable Fuels Association, said the Inflation Reduction Act is “the most significant federal commitment to low-carbon biofuels since the Renewable Fuel Standard was expanded 15 years ago.”
To get around a century-old shipping law, oil traders are sending unfinished gasoline components to Buckeye Partner's Bahama terminal to finalize and send to the U.S. East Coast.
The 5th U.S. Circuit Court of Appeals vacated the Louisiana district court decision to block the Interior Department’s leasing pause after Louisiana and a dozen states sued the administration established arguing that they would suffer injury from the policy.
Oil and gas producers will see new taxes and fees and their effective cash tax rates rise to 15% compared to other sectors, such as a 5% increase for tech.
“This is going to unlock a significant amount of emissions that could become economic for capture,” Milestone Carbon's Chris Davis said of the $430 billion U.S. climate and tax bill and the carbon capture and storage hubs that will come from it.
Decision to reconsider retirement of Diablo Canyon plant stems from rolling blackouts in 2020.
The Inflation Reduction Act of 2022 is designed to accomplish a number of policy goals. Watch this Two-Minute Drill segment to learn the pluses and minuses.
Talos Energy President and CEO Tim Duncan said offshore lease sales, which could be restored by the Inflation Reduction Act, are a key component of the company’s Gulf of Mexico strategy.