Climate Change

Unlike the summer of 2022, when blistering heat and soft supplies sent natural gas futures to the doorstep of $10/MMBtu, prices in the United States this year — and key regions abroad — were held in check by elevated American production and relatively mild spring weather conditions. New York Mercantile Exchange prompt month futures, for…

Equinor ASA, Europe’s largest natural gas supplier, warned Thursday that the world is “far from being” on track to meet climate targets set forth in the Paris Agreement, particularly after a stretch of chaos in global energy markets following Russia’s invasion of Ukraine. “The continued war initiated by Russia’s invasion of Ukraine and the challenges…

The U.S. Supreme Court has rejected petitions by some of the biggest oil and gas producers in North America, which sought to move dozens of state lawsuits concerning climate change to federal court. However, the legal journey is set to continue, possibly for years. The high court on Monday denied a writ of certiorari sought…

The Oil and Gas Climate Initiative (OGCI), a collaboration by the CEOs of a dozen global energy producers, said it  has reduced members’ absolute upstream methane emissions by 40% since 2017 with spending on low carbon solutions nearly doubling to $40 billion.The collaborative launched an industry-wide initiative to reduce methane emissions to near zero, while…

From a combination of snow storms, tornadoes, heatwaves and hurricanes, which left a countless number of Americans in the dark, the United States has rung up a damages bill in excess of $29 billion during 2022, and that figure only covers the costs incurred through October. In the latest episode of NGI’s Hub & Flow…

Natural gas-fired electricity generation would pick up the slack in California left by the state’s drought-compromised hydropower resources, according to the Energy Information Administration (EIA). In a recent analysis, researchers found that California’s extended drought could cut the share of summer electricity generation from hydropower to only 8%, or 6.8 million MWh, from June through…

The California Air Resources Board (CARB) has released a draft update to the state’s climate plan for reducing greenhouse gas emissions (GHG) that it says will accelerate the transition away from natural gas in transportation and use in buildings. The draft 2022 Climate Change Scoping Plan selected by CARB seeks to lay out a realistic…

A dispute over environmental approval of oil, natural gas and forestry projects is headed for the Supreme Court of Canada following an Alberta verdict that the federal government violated the national constitution with its 2019 green new deal legislation. The case is to be appealed, said Prime Minister Justin Trudeau. The Alberta Court of Appeal…

A report published by researchers at the Environmental Defense Fund (EDF) found that low-producing oil and gas wells are a major contributor to methane emissions from well sites in the Lower 48. The study, published in the Nature Communications journal, found that while these wells produce less than 15 boe/d, they account for about 50%…