Energy Transition

New Banking Rule a Win for Oil and Natural Gas Sector, but Biden Administration Likely to Nix It

New Banking Rule a Win for Oil and Natural Gas Sector, but Biden Administration Likely to Nix It

A new federal rule intended to prevent large banks from denying loans to companies in the oil and gas industry and other sectors that have fallen out of favor with some institutional investors because of environmental and social concerns represents a win for energy companies. But it may prove short-lived. The “fair access” rule, finalized…

January 19, 2021
Minnesota Power Plans to Reach 100% Carbon-Free Energy by 2050

Minnesota Power Plans to Reach 100% Carbon-Free Energy by 2050

Allete Inc. subsidiary Minnesota Power on Tuesday announced a goal to deliver 100% carbon-free energy to customers by the year 2050. Utilizing its EnergyForward strategy, Minnesota Power was the state’s first utility to provide 50% renewable energy to its customers and seeks to build upon that as it transitions to “clean energy.”  The upcoming Integrated…

January 15, 2021
E&P Spending Revival Poised for North America, Overseas

E&P Spending Revival Poised for North America, Overseas

Global exploration operators are ready to get back to business in oil and natural gas onshore and offshore, with the international players likely to shell out more funds this year than their Lower 48 compadres. Energy analysts in recent weeks have begun offering their takes on the likely pace of activity and potential capital expenditures…

January 14, 2021
Massachusetts Looks to Ban Gasoline-Powered Vehicle Sales by 2035

Massachusetts Looks to Ban Gasoline-Powered Vehicle Sales by 2035

Massachusetts is ready to follow in California’s footsteps as it moves toward reducing greenhouse gas emissions and looks to ban gasoline-fueled vehicles in a bill that was passed earlier this month. Under a program that has been in the works for months, the overall goal is to reduce carbon emissions by 2030 to 45% below…

January 14, 2021
Renewable Capacity Additions to Far Outpace Natural Gas in 2021, EIA Electricity Data Show

Renewable Capacity Additions to Far Outpace Natural Gas in 2021, EIA Electricity Data Show

Renewables will account for a substantial majority of the new U.S. utility-scale electric generating capacity planned to start commercial operation this year, with natural gas coming in a distant third behind solar and wind, according to data from the Energy Information Administration (EIA). Developers and power plant owners plan to add 6.6 GW of natural…

January 12, 2021
U.S. Supreme Court Tosses Review of Minnesota County Fracture Sand Ban

U.S. Supreme Court Tosses Review of Minnesota County Fracture Sand Ban

The U.S. Supreme Court on Monday denied a petition that sought to overturn a Minnesota county ordinance banning the mining of silica sand, which is used in some Lower 48 well completions. Minnesota Sands LLC, which filed its initial lawsuit in 2017, was challenging an adverse ruling by the Supreme Court of Minnesota regarding Winona…

January 11, 2021
IEA Mapping Global Route for Energy Operators, Governments to Reach Net-Zero Emissions by 2050

IEA Mapping Global Route for Energy Operators, Governments to Reach Net-Zero Emissions by 2050

The world’s first comprehensive roadmap for the energy sector, designed to help governments and companies reach net-zero emissions by 2050, is set to be issued later this year as climate change issues dominate, according to the International Energy Agency (IEA). The global energy watchdog said the report, to be issued in May, would “set out…

January 11, 2021
U.S. RNG Production, Sites Accelerate in 2020

U.S. RNG Production, Sites Accelerate in 2020

Renewable natural gas (RNG) volumes and production sites increased significantly over the past two years in the United States, an assessment that comes as advocates are searching for ways to expand even further. Consultancy Energy Vision LLC completed a report in December in conjunction with the Argonne National Laboratory, which found a 42% increase in…

January 7, 2021
Dallas Fed Survey Finds ‘Signs of Improvement,’ Optimism in 2021 for U.S. Oil, Gas Sector

Dallas Fed Survey Finds ‘Signs of Improvement,’ Optimism in 2021 for U.S. Oil, Gas Sector

U.S. energy executives remain wary about the outlook for the oil and natural gas markets this year, and are relying on moderate commodity prices as they finesse their 2021 capital spending plans, according to a recent survey by the Federal Reserve Bank of Dallas. The Dallas Fed, as it is better known, every quarter surveys…

January 7, 2021
BayoTech Secures Private Equity to Expand Hydrogen Production Offerings

BayoTech Secures Private Equity to Expand Hydrogen Production Offerings

Albuquerque-based BayoTech Inc., an on-site hydrogen production company, said it has secured a $157 million investment from private equity firm Newlight Partners LP. Other investors including Cottonwood Technology Funds, Sun Mountain Capital and Fortistar also are backing growth, according to BayTech, to increase project development and expand infrastructure. “Advances in fuel cell technology are driving…

January 6, 2021