New England Will Benefit from Robust, Low-Cost Natural Gas Supply if Congress Removes Pipeline Red Tape

Given our nation’s energy needs, it is clear that we will be using natural gas for many years to come, to heat our homes, fuel manufacturing, and importantly, to generate electricity. Even given climate concerns, most experts agree that natural gas – and other fossil fuels – along with carbon abatement technologies like carbon capture and storage (CCS) will be needed to meet our energy needs in 2050. In fact, in an ACCF webinar last May, former Obama Secretary of Energy Ernie Moniz argued that the US will need natural gas well into the future, and that zero-carbon 2050 scenarios include the use of gas along with negative carbon technologies like CCS. Likewise, Jennifer Granholm recently told a gathering of energy executives that “[e]ven the boldest projections for clean energy deployment suggest that in the middle of the century we are going to be using abated fossil fuels.” With the demand for natural gas in the U.S. continuing to be strong. some elected officials have raised concerns that exporting natural gas via ship as liquified natural gas (LNG) could cause domestic price increases. Sen. Angus King, for example, has long championed the idea that LNG exports could have negative impact on consumers. Numerous studies –…

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Willow Approval is Sensible Energy and Environmental Strategy

Willow Approval is Sensible Energy and Environmental Strategy By Kyle Isakower On March 13, the administration approved plans for oil production at the Willow site on the North Slope of Alaska. The area is part of the National Petroleum Reserve – Alaska (NPR-A), which was established a century ago by President Harding as a reserve of petroleum for potential use by the US Navy. In 1976, oversight of the area was transferred to the Bureau of Land Management, under the Department of the Interior and renamed NPR-A. The move was lauded by Alaskan elected officials and native tribes, who see the project as a huge boost to the local economy as well as a source of much-needed jobs. Sen. Lisa Murkowski stated that “we are now on the cusp of creating thousands of new jobs, generating billions of dollars in new revenues, improving quality of life on the North Slope and across our state, and adding vital energy to TAPS [Trans-Alaska Pipeline System] to fuel the nation and the world.” Alaska Senator Dan Sullivan said that “[t]his decision is also crucial for our national security and environment. Producing much-needed American energy in Alaska with the world’s highest environmental standards and lowest emissions enhances the global environment.“ But the decision…

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SEC Must Reconsider Scope 3 Reporting in the Proposed Climate Risk Disclosure Rule

On June 17, the Securities Exchange Commission (SEC) is due to receive comments from companies and interested parties in response to the SEC proposed Climate Risk Disclosure Rule. The proposed rule is well-intentioned, but to say the least, very controversial. As comments are received, the SEC will be charged with absorbing a wide range of perspectives, including concerns, but also suggestions for improvement. By way of background, on March 21, 2022, the SEC proposed a rule that would require registrants to report climate-related disclosures in their filings, including information about climate-related risks that might have a material impact on their business operations and financial results as a part of audited financial statements. The information about climate-related risks also would include disclosure of greenhouse gas emissions, referred to as “Scope” emissions. Those include direct greenhouse gas (GHG) emissions (Scope 1), and indirect emissions from purchased forms of energy (Scope 2). Most controversial, however, is a requirement to disclose GHG emissions from upstream and downstream activities within its business operations value chain (Scope 3). By definition, Scope 3 emissions include those resulting from activities or assets not directly controlled or owned by the registrant, but they are part of the upstream (suppliers)…

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U.S. Natural Gas Supply Robust For Foreseeable Future

  Some good news amid pandemic and strained energy supply. Americans can rely on having clean natural gas needed now and well into the future. American Gas Association (AGA) recently hosted a webinar for the release of the Potential Gas Committee’s annual assessment of supply. The PGC estimates that the US has 3368 TCF of total natural gas resources. That’s more than 100 times our current annual demand! US natural gas can meet our domestic needs while also fueling job growth and lower global emissions through exports.   See AGA’s release here: https://www.aga.org/news/news-releases/report-u.s.-natural-gas-supply-remains-abundant/

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Good Business – The Talk, Fight, Win Way to Change the World

As Environmental, Social, and Governance – so-called ESG principles continue to move to the forefront, the release of Bill Novelli’s new book, “Good Business – The Talk, Fight, Win Way to Change the World” could not be more perfectly timed. In a 1970 essay, the economist, Milton Friedman, noted the social responsibility of business is to increase its profits and its only responsibility is to its shareholders.  In over 40 years that have passed, things have certainly changed. In this must read book for everyone currently in the business world, as well as business students and instructors, Novelli cites with clarity the imperative for managing a business today and into the future.   That imperative is understanding how to integrate social and environmental strategies to not only improve financial performance but create greater good for other stakeholders and society as well. With investors now actively seeking investment portfolios that reflect and support sound finance with a “greater good” strategic perspective, readers will be pleased to know that the rising global business leaders under Novelli’s wing are going to be well-informed and ready to ensure the requisite balance of positive financial, social, and environmental outcomes. Mike Roman, President, CertainPoint Strategies, L.L.C., Non-resident Senior…

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As We Address Climate Change Everyone Has Responsibility

Climate change and greenhouse gas reduction efforts got front page headlines in the last week.  Those headlines pointed to three of the international energy companies, with ExxonMobil and Chevron hearing from their shareholders, while Royal Dutch Shell was dealt a precedent-setting ruling from the district court in The Hague. Many reports mentioned that as a result of shareholder activism and court action, these companies, as well as others in the energy industry, had been put on notice. But there is another headline that should be forthcoming.  It should reflect that these companies are not alone. Climate change and related issues require coordinated communication and well informed and fact-based action.  Shareholders, lawmakers, and for that matter, all users of energy, are on notice as well.  They all have their own important responsibilities and obligations. Most importantly, there is an immediate need to communicate a better understanding how we use energy, what energy sources drive our lives and economy today, and how realities of science and available technology will affect the transition timelines needed to meet climate driven emissions reduction targets. Despite some imposed mandates and an understandable and necessary level of urgency, transition will, in some cases, still take decades to achieve.…

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