Energy Transition in Motion (Week of June 28, 2024)

Here is a look at some of this week’s renewable energy news, including plans for another offshore wind energy lease sale.

US Senate Committee Probes Oil Producers on Price Collusion with OPEC

The producers the committee is probing include Exxon Mobil, Chevron, ConocoPhillips and 14 others.

FERC Approves Venture Global’s Calcasieu Pass 2 LNG Project

Venture Global’s Calcasieu Pass 2 was delayed due to changes at the overall site and within U.S. environmental law. The project remains subject to the LNG export pause initiated by the Biden administration.

US Supreme Court Blocks EPA's 'Good Neighbor' Air Pollution Plan

The U.S. Supreme Court on June 27 blocked an Environmental Protection Agency regulation aimed at reducing ozone emissions that may worsen air pollution in neighboring states, handing a victory to three Republican-led states and the steel and fossil-fuel industries that had challenged the rule.

Mexico’s Zama Drama Eases, but Not Over for Talos, Other IOCs

Houston-based Talos Energy and its Block 7 consortium partners could make FID on the Zama field development sometime in the next year. But despite the importance placed on the project to secure energy security for Mexico, the consortium continues to run into headwinds.

Martin Midstream Says Pipeline Oil Spill Recovery Efforts Underway

Martin Midstream says it lost approximately 2,000 bbl of crude from its transfer line, which connects the company’s Sandyland Terminal to the Smackover Refinery in Union County, Arkansas.

Canadian Teamsters Hold Second Vote on Railway Strike

The union approved for the strike to start May 21, but faced a delay due to a government safety review.

IEA: EV Growth Could Displace Up to 12 MMbbl/d by 2035

The Paris-based IEA says up to 12 MMbbl/d of oil demand could be displaced by 2035 due to the rapid uptick in electric vehicle usage globally—especially in the U.S., EU and China.

Hirs: What Regulators Get Wrong—Energy Networks Are Tough To Control

Energy professionals depend upon interconnected markets and often profit from arbitrage opportunities long before market participants and regulators can effectively address them.

Gaps in EU's Preparation for Potential Gas Crises, Auditors Say

Despite the EU's overall reliance on Russia dropping significantly, auditors say the EU is insufficiently prepared to weather a future gas crisis.