Retribution

In a move that could be seen as retribution for state Senate Republicans’ negotiating tactics and opposition to a proposed natural gas severance tax, Pennsylvania Gov. Ed Rendell Tuesday signed an executive order placing an immediate ban on leases for oil and gas development on any land owned and managed by the state’s Department of Conservation and Natural Resources (DCNR).

Policymakers should avoid making regulatory decisions only to satisfy the public’s appetite for swift retribution following the Deepwater Horizon well blow-out in the Gulf of Mexico (GOM) because “excessively stringent” rules could result in costs increasing to the point that it becomes uneconomical to drill in deep waters, according to a study published last week (see related story).

Policymakers should avoid making regulatory decisions only to satisfy the public’s appetite for swift retribution following the Deepwater Horizon well blow-out in the Gulf of Mexico (GOM) because “excessively stringent” rules could result in costs increasing to the point that it becomes uneconomical to drill in deep waters, according to a new study.

Retribution will be more expensive for companies violating FERC’s rules in the future, according to a final rule issued by the Commission last Monday. The rule adjusts certain of the Federal Energy Regulatory Commission’s penalties by 10% to cover inflation.

Retribution will be more expensive for companies violating FERC’s rules in the future, according to a final rule issued by the Commission Monday. The rule adjusts certain of the Federal Energy Regulatory Commission’s penalties by 10% to cover inflation.