A group of influential U.S. corporations, including top oil and gas and power companies, Thursday joined environmental organizations to offer a detailed blueprint for the incoming Obama administration that, among other things, calls for a cap-and-trade system to cut 2005 greenhouse gas (GHG) emissions levels 42% by 2030 and 80% by 2050.
Articles from Solutions
Multiple solutions will be required to meet energy demand and curtail greenhouse gas emissions that will result from population growth and economic expansion, ExxonMobil Corp. said in its “Outlook for Energy: A View to 2030,” the latest iteration of the annual report. Fossil fuels will retain their primacy among energy sources, but nuclear power and renewable energy will take a growing slice of the pie.
Multiple solutions will be required to meet energy demand and curtail greenhouse gas emissions that will result from population growth and economic expansion, Exxon Mobil Corp. said in its “Outlook for Energy: A View to 2030,” the latest iteration of the annual report. Fossil fuels will retain their primacy among energy sources, but nuclear power and renewable energy will take a growing slice of the pie.
Fueled by a rare degree of bipartisan agreement on climate change-driven alternative energy solutions, a National Clean Energy Summit concluded Tuesday in Las Vegas with an extensive wish list directed at the party platform authors at both upcoming major political conventions. Nothing was left out, and one of the conference’s hosts, U.S. Senate Majority Leader Harry Reid (D-NV), committed to seeking bipartisan support for energy action when Congress returns in September.
A subsidiary of Houston-based Helix Energy Solutions agreed to sell a 30% working interest in its Gulf of Mexico Danny Noonan discoveries on Garden Banks blocks 463, 506 and 507, as well as other Outer Continental Shelf assets on East Cameron blocks 371 and 381, to a private independent in two separate transactions for a total of $165 million. Additional cash payments of up to $20 million may be paid to Energy Resource Technology GOM Inc. based upon certain field production milestones, Helix said. The new partner also will pay a 30% share of all future capital expenditures related to the exploration and development of these fields. Most of the transaction already has been funded, and the parties expect to complete the sale by the end of April. “As we have stated, our intention during 2008 is to unlock a portion of the value in our oil and gas portfolio through the monetization of certain reserves,” said Helix CEO Owen Kratz. “These sales are the first of such efforts that we believe will allow us to demonstrate the value created through our unique two-stranded approach to oil and gas exploration and production and will allow us to recover previously invested capital, reduce future capital expenditure requirements related to these developments and reduce the profit deferral in our services division associated with the development work.”
Mitsubishi Corp.’s Sound Energy Solutions (SES) isn’t throwing in the towel yet, despite a California state court ruling last Monday that upheld the Port of Long Beach’s termination of the environmental review of a proposed SES liquefied natural gas (LNG) terminal in Long Beach Harbor. SES Executive Vice President Tom Giles told NGI Wednesday his firm will decide in April what its options are and whether to appeal.
The California Superior Court in Los Angeles set a Feb. 11 hearing on Mitsubishi’s Sound Energy Solutions’ (SES) lawsuit seeking to force the Port of Long Beach to completed an unfinished environmental review of SES’s proposed liquefied natural gas (LNG) receiving terminal in the Port of Long Beach. The latest court action came last Friday.
Consumers and energy industry executives don’t often agree on the solutions needed to solve U.S. energy challenges, but a survey commissioned by Deloitte & Touche found some surprising areas of mutual understanding.
Consumers and energy industry executives don’t often agree on the solutions needed to solve U.S. energy challenges, but a survey commissioned by Deloitte & Touche found some surprising areas of agreement.
The Senate subcommittee on Private Sector and Consumer Solutions to Global Warming and Wildlife Protection last Wednesday held the first in what promises to be a whirlwind series of hearings on the America’s Climate Security Act.