DIRS.INFO The most relevant business & tech news

JUNEAU, Alaska (AP) — A federal judge in Alaska on Friday rejected requests from environmental groups to halt winter construction work for the massive Willow oil project on Alaska’s North Slope while the groups’ legal fight over the drilling project wages on. U.S. District Court Judge Sharon Gleason just last month upheld the Biden administration’s approval in March of the ConocoPhillips Alaska project in the National Petroleum Reserve-Alaska and dismissed lawsuits brought by environmentalists and a grassroots Iñupiat group challenging Willow’s approval. Those groups are appealing that decision and asked Gleason to block winter construction work planned by ConocoPhillips Alaska while the appeal is pending. While ConocoPhillips Alaska had proposed five drilling sites, the U.S. Bureau of Land Management approved three, which it said would include up to 199 total wells. Erik Grafe, an attorney with Earthjustice, which represents several environmental groups in one of the cases, said Gleason's decision was disappointing.

Persons: Sharon Gleason, Gleason, Joe Biden’s, Rebecca Boys, Erik Grafe, Willow, ” Grafe Organizations: —, U.S, Biden, ConocoPhillips, National Petroleum Reserve, ConocoPhillips Alaska, U.S . Bureau of Land Management, Earthjustice Locations: JUNEAU, Alaska, ConocoPhillips Alaska, Willow

☆ ‘Backtracking:’ A year of climate failures ahead of a crucial summit
▼ + stars: | 2023-11-30 | by ( Laura Paddison | ) edition.cnn.com time to read: +11 min

And yet, even as the climate crisis inserts itself viscerally into people’s lives, experts say the year has seen alarming backsliding on climate action. Green policies have been watered down, huge new oil and gas projects have been greenlit and coal has had something of a resurgence. As countries gather in Dubai for the UN’s COP28 climate summit, there are “high expectations,” said Harjeet Singh, the head of global political strategy at nonprofit Climate Action Network International. It sent worrying signals about climate backtracking, said Elisa Giannelli, a senior policy advisor at climate think tank E3G. Around 50% of its total capital spending needs to go toward clean energy projects by 2030, according to the report.

Persons: ”, Harjeet Singh, Kaveh Guilanpour, Singh, Biden, “, Erik Grafe, Joe Biden, Countess, Norway —, Elisa Giannelli, “ It’s, Rishi Sunak, Joeri Rogelj, Flora Champenois, It’s, Bernd Lauter, ” Rogelj, Darren Woods, Bernard Looney, Fatih Birol, Guilanpour, Claire Fyson, ” Fyson, “ we’re, ” CNN’s Ella Nilsen, Ivana Kottasová, Gan Organizations: CNN, United Nations, Action, “, Climate, Energy Solutions, US Department of Interior, Imperial College London, Global Energy Monitor, GEM, Getty, BP, Chevron, ExxonMobil, Shell, Exxon, IEA, Climate Analytics Locations: Canada, Libyan, Dubai, Alaska, Washington ,, Australia, Norway, Europe, Germany, China, Asia, Ukraine, Eschweiler, COP28

☆ ConocoPhillips' $8 billion Willow project approvals upheld by US judge
▼ + stars: | 2023-11-10 | by ( Clark Mindock | Companies Need To Integrate Climate Reporting Across Functions To Comply With California S New Law | Henry Engler | ) www.reuters.com time to read: +4 min

REUTERS/Brendan McDermid Acquire Licensing RightsSummaryCompanies US judge upholds approvals for $8 billion Willow projectGroups say they are considering an appealNov 9 (Reuters) - A federal judge in Alaska on Thursday upheld U.S. approvals for ConocoPhillips’ multibillion-dollar Willow oil and gas drilling project in the state’s Arctic, rejecting environmental and tribal groups' concerns that the project poses too large of a climate threat. U.S. District Judge Sharon Gleason in Anchorage dismissed a lawsuit filed by environmental and tribal groups challenging the $8 billion project's approvals, which the U.S. Opponents claim the project would release hundreds of millions of tons of carbon pollution into the atmosphere, aggravating climate change and damaging pristine wilderness. The approvals give ConocoPhillips permission to construct three drill pads, 25.8 miles of gravel roads, an air strip and hundreds of miles of ice roads. The environmental and tribal groups challenged the approvals in two lawsuits filed in March.

Persons: Brendan McDermid, Sharon Gleason, Gleason, Erik Grafe, ConocoPhillips didn't, Joe Biden's, Iñupiat, Ian Dooley, Carole Holley, Earthjustice, Bridget Psarianos, Suzanne Bostrom, Rickey Turner, Paul Turcke, Ryan Steen, Whitney Brown, Jason Morgan, Luke Sanders, Stoel, Clark Mindock Organizations: ConocoPhillips, New York Stock Exchange, REUTERS, ConocoPhillips ’ multibillion, U.S, U.S . Interior Department, Earthjustice, Interior Department, of Land Management, Center for Biological Diversity, Sierra Club, Environmental, of Land, for Biological, District of, Trustees, U.S . Department of Justice, Thomson Locations: New York City, U.S, Alaska, Anchorage, District of Alaska

JUNEAU, Alaska (AP) — A federal judge on Thursday upheld the Biden administration’s approval of the Willow oil-drilling project on Alaska’s remote North Slope, a massive project that drew the ire of environmentalists who had accused the president of backpedaling on his pledge to combat climate change. She added that the alternatives analyzed by the U.S. Bureau of Land Management as part of its review were consistent with the policy objectives of the petroleum reserve and the stated purpose and need of the Willow project. The administration's action alienated and outraged some supporters, particularly young activists who launched a TikTok campaign to oppose the project ahead of its approval in March. Connor Dunn, vice president of the Willow project for ConocoPhillips Alaska, said in court documents that it was “highly unlikely” that Willow would proceed if the administration’s approval were to be vacated. Many Alaska Native leaders on the North Slope and groups with ties to the region have argued that Willow is economically vital for their communities.

Persons: backpedaling, Sharon Gleason, ” Gleason, Erik Grafe, Earthjustice, ” Bridget Psarianos, Inupiat, ” Psarianos, Joe Biden’s, Deb Haaland, Connor Dunn, Dunn, Gleason, Rebecca Boys, Willow, Trump, Biden, greenlight, Mike Dunleavy, “, ”, Nagruk Harcharek Organizations: —, Biden, National Petroleum Reserve, U.S . Bureau of Land Management, ConocoPhillips, Land Management, Gleason ., Alaska, Republican Gov Locations: JUNEAU, Alaska, North, Willow, ConocoPhillips Alaska, ”

☆ Goldman Sachs: "Fully orthodox" policy maker could raise Turkey rates to 40%
▼ + stars: | 2023-06-09 | by ( ) www.reuters.com time to read: +1 min

The Wall Street bank, in an overhaul to a number of its forecasts for Turkey, said stabilising the economy "will require a large, and we think discontinuous, adjustment to the exchange rate." While guidance was for the monetary policy framework was still missing at this stage, the bank noted, a "fully orthodox policy-maker" would allow the exchange rate to adjust upfront and would raise the repo rate to a level where it anchored interest rates in the economy. "In our view, this suggests that an orthodox policy-maker would raise rates to 40%, the current level of deposit rates," Clemens Grafe said in a note to clients. Grafe added that once the exchange rate and inflation expectations stabilised, rates could be lowered quickly, possibly to 25% by end-year. Goldman Sachs also cut Turkey's GDP forecast to 2.3% year-on-year in 2023, from previously 2.9%.

Persons: Goldman Sachs, Mehmet Simsek, Hafize Gaye Erkan, Clemens Grafe, Grafe, Karin Strohecker, Dhara Organizations: Thomson Locations: Turkey

☆ Turkey stocks rally, lira slips to record low after Erdogan victory
▼ + stars: | 2023-05-29 | by ( ) www.reuters.com time to read: +7 min

The nation is grappling with a cost of living crisis, a plunging currency and depleted foreign reserves. MARKET REACTION:LIRA: The Turkish currency touched a fresh record low of 20.105 on Monday. "In a scenario where Turkey ran out of foreign currency, lira’s value would likely collapse, inflation would explode and goods shortages could occur. A painful crisis affecting all assets is on the way, with very high inflation, very low interest rates and no net foreign reserves. Only the most optimistic would hope that Erdogan now feels sufficiently secure politically to revert to orthodox economic policy."

☆ ANALYST VIEW Markets tumble as Turkey faces runoff election after Erdogan leads first round
▼ + stars: | 2023-05-15 | by ( ) www.reuters.com time to read: +6 min

[1/2] Supporters of Turkish President Tayyip Erdogan wave flags outside the AK Party headquarters, in Ankara, Turkey May 15, 2023. DEBT: Five-year credit default swaps jumped over 100 basis points from Friday and dollar bonds fell more than 7 cents. STOCKS: Borsa Istanbul issued a market-wide circuit breaker after the benchmark index (.XU100) dropped 6.38% in pre-market trading and was last down 2.7%. PIOTR MATYS, SENIOR FOX ANALYST, IN TOUCH CAPITAL MARKETS, POLAND:"When/if President Erdogan is re-elected, the lira should be trading far more freely. CLEMENS GRAFE AND BASAK EDIZGIL, GOLDMAN SACHS, LONDON:"The (rates and CDS) market dynamics post the initial move will be dependent on the FX market.

A three-judge panel of the U.S. Court of Appeals for the District of Columbia said the law, which instructed the U.S. Circuit said the law "makes clear" that those leases are no longer subject to requirements of the National Environmental Policy Act, which requires a thorough look at environmental impacts of proposed major federal actions. Earthjustice attorney Steve Mashuda, who represented the environmental groups, said in a statement that the decision will harm Gulf communities and ecosystems. A spokesperson for the American Petroleum Institute called the order a “positive step toward more certainty and clarity for energy producers.”The Interior Department, which did not appeal the lower court decision, declined to comment. v. Debra Haaland et al., U.S. Court of Appeals for the District of Columbia Circuit, case No.

CompaniesCompanies Law Firms Conocophillips FollowApril 3 (Reuters) - A federal judge on Monday rejected a bid by environmentalists to temporarily suspend the U.S. government’s approval of ConocoPhillips' (COP.N) multibillion-dollar oil drilling project in Alaska’s Arctic. Gleason said an injunction was inappropriate because the groups wouldn't be irreparably harmed by the construction that ConocoPhillips has scheduled for this month, which includes building roads and a gravel mine. Bridget Psarianos, an attorney challenging the approval, called the planned construction schedule "aggressive" and said the judge's decision is "heartbreaking." The approvals for the project in northern Alaska give ConocoPhillips permission to construct three drill pads, 25.8 miles of gravel roads, an air strip and hundreds of miles of ice roads. The 30-year project would produce up to 180,000 barrels of oil per day at its peak, according to the company.

Companies Conocophillips FollowWASHINGTON, March 13 (Reuters) - The oil industry on Monday cheered the U.S. government's greenlighting of ConocoPhillips' multibillion-dollar oil drilling project in Alaska's Arctic, but court challenges could mire the plans in further delays. President Joe Biden's administration approved a trimmed-down version of the $7 billion Willow project on federal lands in a pristine area on Alaska's north coast. Kristen Monsell, a senior attorney at the Center for Biological Diversity, another group involved in the previous suits, said Monday's approval for the Willow project is "still inadequate in numerous respects." Senator Dan Sullivan, a Republican from Alaska, told reporters the state's lawmakers are prepared to defend the decision against "frivolous" legal challenges. Even if Interior could beat back the oil company's challenge, it would probably only mean another delay for Willow, he said.

Search resuls for: "Grafe"

10 mentions found