Today In Energy News Radio Minute (Audio Above)
Lori Hinz, news reporter for BEK News, gives an update from the research on her carbon pipeline feature named Capturing America’s Heartland: CO2 Pipeline, which airs on BEK TV.
Hinz gives an update on some local Iowa concerns regarding the Summit Carbon Solutions' pipeline being discussed in the Upper Midwest.
“Lee Blank, who is the CEO of Summit Carbon Solutions, said the state's ethanol industry is getting squeezed in this (local) article,” Hinz said. “Without carbon pipelines, ethanol production would shift to other states, causing a catastrophic hit to the state's farm economy, is how they put it. Blank agreed with that.”
Hinz continued reciting some of the fear-mongering rhetoric being used to advance the ethanol carbon pipeline in Iowa at a local level to the farmers and corn communities.
“He (Blank) said the industry needs to focus on growing markets,” Hinz said. “So in this article, it is titled ‘Summit CEO Pipeline is Essential to Ethanol’, and in the lower line it says ‘industry will lose money without CO2 tax credits’. So that is what is being pushed right now.”
Click here for entire interview
WOMEN IN ENERGY: Taking the High – and Environmentally Friendly – Road
Environmental, social and governance (ESG) are of critical importance to all stakeholders as we move forward with the energy transition and transformation. OILWOMAN asked women at the forefront of their company’s ESG initiatives what they view as the most important aspect of ESG and how companies can give equal consideration to all three facets.
While the UN has provided a framework for ESG, there currently are no standardized guidelines or metrics for industries to follow. Here, the women share their ideas for the best way for companies to be transparent and to avoid accusations of “greenwashing.” Also, the energy industry is often singled out as one of the biggest offenders where ESG is concerned and we asked how to counter that perception.
Allyson Anderson Book, VP of Energy Transition, Baker Hughes (pictured above): While sustainability has been around for ages, there is an awakening happening where companies realize that they cannot achieve net zero emissions without operationalizing sustainable business practices. This starts with people – as we are only as strong as our people who drive our progress – and every person has a role to play in advancing environmental, social and governance (ESG) goals.
PETRO PROFILE: Family Values, Spousal Sacrifice Pays Off for Badlands Tank Lines
Roger Johnson, CEO, Badlands Tank Lines, recently announced new Bakken assets acquired from Marathon Oil on The Crude Life Media Network. During the interview, the CEO discussed how Badlands Tank Lines has grown over the past several years to become one of the largest oilfield service trucking companies in the United States.
“I started my career working for Flying J. Prior to them being purchased by Pilot, I was an accountant in the trucking group. So, I kind of understood trucking from the accounting side of the business.”
Johnson’s background created a positive environment for looking at an energy issue with a bean-counting troubleshooter point of view, as well as an oil and gas approach to the industry.
EMERGING ENERGIES: Supply Chain Issues Create New Opportunities for Small Business
When supply chains run smoothly, the economies they support do too.
But when even the smallest disruption occurs, supply chains can quickly turn into the equivalent of a daisy chain — where one event sets off a cascading impact down the entire logistics value chain.
Experts fear that this is what could happen up and down the East Coast as businesses and shippers try to manage the fallout from the March 26 collapse of Baltimore’s Francis Scott Key Bridge as a result of a cargo ship collision.
According to Maryland Governor Wes Moore port is responsible for over 51 million tons of foreign cargo. That’s the largest in the country. For everybody who was buying cars, everybody who was buying farm equipment, we’re the largest port in country that does that. So, this is not just impacting Maryland.”
In regards to the Energy Industry, smaller companies like RMI Supply are able to remain nimble, ready and able for new business opportunities.
“The big companies and ones involved with mergers or buyouts have an added layer of issues related to time and supply chain,” RMI Supply president Mark Workman said. “Smaller companies can make a decision in the moment, whereas a larger company can take months to make a simple decision.”
SHARE YOUR SUSTAINABLE STORY: Industry Veterans Cleaning Up Wind’s Woes, Tackling Turbine Troubles
ReviablEnergy answered the question – “What happens to wind turbine blades after service?”
“We pass right by the landfill on our way to a trusted recycling partner,” Jake Milne, co-founder of ReviablEnergy, said.
Milne and his co-founding partners were inspired by the local problem of wind turbines collecting in their landfill.
Our landfill here in Casper got filled up with several thousand, which is what inspired us to get into it,” Milne said. “Pacific Corp got a lot of bad publicity on that.”
Click here for Sustainable Story
TODAY IN ENERGY NEWS BRIEFS
Biden administration to reimpose oil and gas sanctions on Venezuela
The Biden administration will reimpose oil and gas sanctions on Venezuela after President Nicolás Maduro failed to comply with a U.S.-backed agreement to allow opposition candidates and parties to run in July elections, the State Department said in a statement Wednesday.
Governor Gordon Criticizes Oil and Gas Rule that Raises Costs to Producers
Governor Mark Gordon is criticizing an announcement from the Department of Interior last week that will increase the costs to oil and gas companies seeking to drill on federal lands. The Governor used the following statement:
“If there was any doubt, it could not be more clear now that the Department of Interior has lost its way. Within a day of announcing its renewable energy rule designed to promote the equivalent of a modern-day gold rush of development for renewables by reducing fees and rents on federal lands by 80%, Interior issued an oil and gas rule increasing costs to Wyoming’s industry by 1400%.
Click here for article
Offshore oil and gas industry to foot $6.9 billion decommissioning costs under new BOEM regulation
On Monday, April 15th, the Department of the Interior announced a final rule from the Bureau of Ocean Energy Management (BOEM) that requires the oil and gas industry to raise nearly $7 billion for decommissioning offshore platforms.
The final Risk Management and Financial Assurance for OCS Lease and Grant Obligations rule amends existing regulations by substantially increasing the level of financial assurances that operators must provide in advance.
Permian Producers Will Pay You to Haul Their Natural Gas Away
Imagine a sign by the egg case at your local H-E-B: “Take a dozen home. Please. We’ll pay you $4 per carton. No limit per customer.”
Sound outlandish? Maybe, but this is essentially what has happened with natural gas in West Texas in recent days. Last weekend, the price for gas at the Waha Hub, a major pipeline junction near Fort Stockton, was -$3 per thousand cubic feet. That’s negative three dollars. If you sent gas to Waha, you had to pay someone to take it off your hands.
You may now be saying to yourself, “I’d like some of that gas. I use natural gas to cook dinner every night. Can I get paid to burn gas?” The answer to your question is: Not unless you own a pipeline between West Texas and your house.
Nigeria Raises Oil and Gas Reserve Figures
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has said the country’s known hydrocarbon reserves have increased, with crude oil and condensate hitting 37.5 billion barrels as of January 1.
Associated and non-associated gas stood at 209.26 trillion cubic feet (Tcf) as of the start of 2024, NUPRC chief executive Engr Gbenga Komolafe told a briefing in Abuja, according to a press release by the commission Tuesday.
Of the liquid reserves, petroleum totaled 31.56 billion barrels while condensate stood at 5.94 billion barrels.
Op/Ed: China’s Battery Graphite Monopoly Is A Clear and Present Danger to America
China has acquired dangerous monopoly power over battery production worldwide. CFACT has published my brief study report on this new threat — “China’s Graphite Monopoly.”
To begin with, here is the Executive Summary:
“China is positioned to adversely influence lithium-ion battery production worldwide. China has monopoly control over processed graphite, an essential component of almost all lithium-ion batteries. Virtually all processed graphite, natural and synthetic, is made in China then exported to the battery makers worldwide.
These batteries are used universally in electric and electronic devices, from cell phones and watches to EVs and huge grid-scale backup batteries; there are numerous essential military uses, as well.
ENERGY EVENT: World Energy Congress
The World Energy Congress is the world’s longest-established energy event, having shaped the global energy agenda for a century. In today’s unpredictable, turbulent and fast-shifting world, the 26th World Energy Congress in Rotterdam will be the most important energy convening of the next decade.
The only global energy event convening 200+ C-suite speakers and 70+ Ministers, alongside 7,000+ international energy stakeholders, the Congress enables the highest levels of government-to-government dialogue and unites businesses and communities of all shapes and sizes. This four-day event bridges sectors, geographies, generations and systems to make faster, fairer, and more far-reaching energy transitions happen.
Under the theme ‘Redesigning energy for people and planet,’ an impact-focused content programme of 60+ sessions is built on the collective insights and experience of the Council’s unique global network of over 3,000 member organisations and presence in more than 100 countries. With a world-class exhibition and unparalleled networking opportunities, the 26th World Energy Congress will challenge conventional thinking and drive action to progress clean, fair and inclusive energy transitions in all world regions.
Click here for event details and registration
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Today In Energy: Carbon Pipelines, Oil Sanctions, Supply Chain and Small Business Opportunity