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☆ Top Biden official at Senate hearing defends liquefied natural gas pause
▼ + stars: | 2024-02-08 | by ( ) www.cnbc.com time to read: +2 min

A top U.S. Department of Energy (DOE) official on Thursday defended President Joe Biden's pause on approvals of liquefied natural gas (LNG) exports at a Senate hearing called by a fellow Democrat who said he will investigate the decision. Deputy U.S. Energy Secretary David Turk told the Senate energy committee that the DOE will finish the review as quickly as possible but it he could not predict a timeline other than it would take "months, not years." A U.S. official earlier on Thursday told Reuters "I don't think we're concerned at all about our ability to meet (European) demand." Senator Joe Manchin, a Democrat from natural gas producer West Virginia who called the hearing, said the pause sends the wrong signal to allies in Europe and Asia. The pause signals "the wrong direction for our country, a very wrong direction," Manchin said.

Persons: Energy David M, Turk, Joe Biden's, Biden, David Turk, Joe Manchin, West, Manchin Organizations: Energy, Green Energy Africa, Cape Town International Convention, U.S . Department of Energy, DOE, U.S . Energy, U.S, Thursday, Reuters, LNG Locations: Cape Town , South Africa, United States, Europe, Ukraine, West Virginia, Asia

☆ China's emission reduction targets don't go far enough: U.S. deputy secretary for energy
▼ + stars: | 2023-12-04 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailChina's emission reduction targets don't go far enough: U.S. deputy secretary for energyU.S. Deputy Secretary for Energy David Turk discusses countries' emissions targets, the need for big profit-making companies to invest more in the energy transition, and controversial comments at the COP28 summit.

Persons: Energy David Turk Organizations: Energy

☆ China's emissions targets not robust enough, U.S. energy chief says
▼ + stars: | 2023-12-04 | by ( Jenni Reid | ) www.cnbc.com time to read: +3 min

watch nowChina's current emissions reduction targets are not as strong as they need to be, U.S. Deputy Secretary for Energy David Turk said Monday. Climate Action Tracker, an independent scientific review project, currently rates China's climate targets as "highly insufficient," and the U.S.'s as "insufficient." Another example of a tough question that needed addressing, Turk said, was on Scope 3 emissions — a measurement of direct and indirection emissions. "Many oil and gas companies, their Scope 3 emissions are 10 times Scope 1 and Scope 2 combined. watch nowOil and gas companies are currently "making an awful lot of profit," but only 1% of spending globally for clean energy is coming from oil and gas companies, he said.

Persons: Energy David Turk, Turk, CNBC's Steve Sedgwick, I've, that's, John Kerry Organizations: Energy, United Nations, U.S, Exxon, CNBC Locations: U.S, Paris, China

It’s still not clear which vehicles would be eligible for the full $7,500 tax credit under the new rules because the government has yet to publish any lists. But they are still years away from being able to produce an electric vehicle without materials and components from China. Sam Abuelsamid, a mobility analyst for Guidehouse Insights, expects many EVs now eligible for the full $7,500 U.S. tax credit will see that cut in half next year when the new regulations take effect. Getting the tax credit upfront — rather than waiting until filing tax returns next year — “will actually reduce your monthly payment, which is a major stumbling block for consumers,” he said. Adeyemo and other officials declined to say whether batteries from the Ford plant would qualify for tax credits.

Persons: —, Biden, Joe Biden's, It’s, Wally Adeyemo, David Turk, Adeyemo, Turk, John Bozzella, Sam Abuelsamid, EVs, Abuelsamid, — “, ”, Joe Manchin, Manchin, Janet Yellen, Ford, Tom Krisher Organizations: WASHINGTON, Treasury, Energy, EV, Administration, “, Motors, Hyundai, Ford, GM, Alliance for Automotive Innovation, Guidehouse, Democratic, Natural Resources Committee, Ford Motor Co, Amperex Technology, Associated Press Locations: U.S, China, United States, North Korea, Russia, Iran, North America, Michigan, Detroit

The recent attack on two North Carolina substations that cut power to thousands of people has raised concerns about security standards for the country’s electric grid and its numerous power stations, which have faced greater threats in recent years. Nearly 600 electric emergency incidents and disturbances were caused by suspected and confirmed physical attacks and vandalism on the electric grid in those nine years, the reports show. The incidents, which are self-reported by power companies to the federal government, provide little to no detail about what occurred. Paths forward for a new standardThose who want a new security standard said there remain significant bureaucratic headwinds against such a proposal. The North American Electric Reliability Corporation, a nonprofit originally created by the electricity industry, said it created security requirements based on risk, rather than a one-size-fits-all approach.

☆ Biden administration looks to oil and gas execs to help bolster Ukraine energy assets
▼ + stars: | 2022-12-05 | by ( ) www.reuters.com time to read: +1 min

[1/2] People sit in a pub lit with candles during a power outage after critical civil infrastructure was hit by Russian missile attacks, as Russia's invasion of Ukraine continues, in Lviv, Ukraine November 24, 2022. REUTERS/Roman Baluk/File PhotoDec 5 (Reuters) - The Biden administration is convening a virtual meeting on Thursday with oil and gas executives to discuss how the United States can support Ukrainian energy infrastructure, according to a letter seen by Reuters. The meeting comes as Russia seeks to cut off Ukraine’s energy supplies and infrastructure as winter approaches with missile attacks. "As you know Ukrainian energy assets are being aggressively targeted in an effort to take advantage of the winter's coldest temperatures and harshest weather conditions. Together, we can help to boost Ukrainian resilience," wrote David Turk, U.S. deputy secretary of energy, in a letter to oil and gas executives.

☆ White House to ask oil and gas execs to support Ukraine energy infrastructure
▼ + stars: | 2022-12-05 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Roman Baluk/File PhotoDec 5 (Reuters) - The Biden administration is convening a virtual meeting on Thursday with oil and gas executives to discuss how the United States can support Ukrainian energy infrastructure, according to a letter seen by Reuters. The meeting comes as Russia seeks to cut off Ukraine’s energy supplies and destroy infrastructure as winter approaches with missile attacks. "As you know Ukrainian energy assets are being aggressively targeted in an effort to take advantage of the winter's coldest temperatures and harshest weather conditions. Together, we can help to boost Ukrainian resilience," wrote David Turk, U.S. deputy secretary of energy, in a letter to oil and gas executives. It involves members of the Oil and Natural Gas Sector Coordinating Council, which includes 26 trade associations.

President Joe Biden's announcement is expected this week as part of the response to Russia's war on Ukraine, one of the sources said. The sale would market the remaining 14 million barrels from Biden's previously announced, and largest ever, release from the reserve of 180 million barrels that started in May. Biden said last week gasoline prices are too high and that he would have more to say about lowering costs this week. Gasoline prices hit a record average above $5.00 in June. It suggested then that deliveries would be linked to lower oil prices and lower demand, likely after fiscal year 2023, which ends Sept. 30 next year.

☆ Biden admin talks with energy firms as it seeks to balance oil prices-sources
▼ + stars: | 2022-10-18 | by ( ) www.reuters.com time to read: +4 min

Register now for FREE unlimited access to Reuters.com RegisterBiden said last week gasoline prices are too high and that he would have more to say about lowering the costs this week. The Energy Department still has about 14 million barrels of SPR oil left to sell from the 180 million barrel release, which was slowed in July by holidays and hot weather. Gasoline prices hit a record average above $5.00 in June. The White House and the DOE did not immediately respond to requests for comment about the talks with energy companies. It suggested then that deliveries would be linked to lower oil prices and lower demand, likely after fiscal year 2023, which ends Sept. 30 next year.

☆ U.S. could sell oil from emergency reserve this week: Reuters, citing sources
▼ + stars: | 2022-10-18 | by ( ) www.cnbc.com time to read: +2 min

Samuel Corum | Bloomberg | Getty ImagesThe Biden administration plans to sell oil from the Strategic Petroleum Reserve in a bid to dampen fuel prices before next month's congressional elections, three sources familiar with the matter said on Monday. President Joe Biden's announcement is expected this week as part of the response to Russia's war on Ukraine, one of the sources said. The sale would market the remaining 14 million barrels from Biden's previously announced, and largest ever, release from the reserve of 180 million barrels that started in May. Biden said last week gasoline prices are too high and that he would have more to say about lowering costs this week. The Energy Department still has about 14 million barrels of SPR oil left to sell from the historic release, because selling was slowed in July and August by holidays and hot weather.

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