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Today, we look at three oil companies refusing testify before the House Natural Resources Committee. It is a Democratic plan to energy independence and a warning by the head of International Renewable Energy Agency.
Rachel Frazin and Zack Budryk were the Hill’s editors. Write to us with tips:[email protected]@thehill.com.
Lets jump in.
Natural Resources chair says oil execs will not testify
ChairmanRal Grijalva (D-Ariz.), Tuesday morning stated that three CEOs of oil companies have declined to testify before the House Natural Resources Committee on the disparities in oil and gas prices.
Which companies are they?Grijalva stated in a statement that executives from Devon Energy Corporation, EOG Resources and Occidental Petroleum declined to attend the hearing, which was scheduled for next Tuesday. Grijalva stated that the executive refusal led to the hearing being cancelled.
The rising gas prices began to hurt Americans and fossil fuel industry trade associations and their allies in Congress quickly placed blame on the Biden government and pushed for a drilling-free-for-all. Grijalvaasserted that these claims are not true when you look at the oil companies’ profits.
I invited these companies before the Committee to make their case. But they don’t believe it is worth defending. Their silence tells it all: Cries for more drilling and looser regulations is nothing more than an age-old attempt at lining their own pockets.
This is the story so farPresident Biden
Joe BidenPelosi – ‘I fearfor our democracy’ if Republicans are elected to the House Jan. 6 panel. This panel will vote to move contempt proceedings against Navarro and Scavino Biden for their ‘careless remark’ about Putin.Democrats in Congress have blamed oil companies for continuing consumer pain at pump, even though there has been a recent dip in oil prices. However, industry experts have stated that the lag between price drops and their occurrence is not due to any deliberate action.
Meanwhile:Frank Pallone Jr., chairman of House Energy and Commerce Committee, has scheduled a similar hearing for April 6. The larger list of companies that requested a representative were BP, Chevron and ExxonMobil, Pioneer NaturalResources, Royal Dutch Shell, and Devon Energy. They informed The Hill earlier this month that they were examining the request.
You can read more about it here.
RENEWABLESCHIEF CALLS FOR ‘RADICAL INTERACTION’
Francesco La Camera, director-general at the International Renewable Energy Agency (IRENA), stated that radical action is needed to ensure the world’s ability to move away from fossil fuels in the shortest time possible to avoid catastrophic warming.
La Camera made the remarks as part of the releaseof IRENAsWorld Energy Transitions Outlook, a report that examines the state and future prospects for renewable energy. It also includes recommendations on how to keep global warming below 1.5 degrees Celsius.
According to the report, renewable energy capacity must triple its current rate in order for 1.5-degree temperature reduction, which is the goal set by the United Nations Intergovernmental Panel on Climate Change. This goal is possible with infrastructure upgrades. However, each country must update its regulatory structures, many of them built with fossil fuels in view.
The report states that to keep the goal in sight, renewable energy will need to account for 65 percent of electricity production, or an additional 81,000 gigawatts by 2030. This includes a quadrupling of onshore wind capacity to approximately 3,000 gigawatts, and a 30% increase in hydropower.
According to the report, the direct electricitys portion of total end energy consumption (or the total energy used to power end users) must increase by nearly 10 percent, from 21 to 30 percent.
Electric vehicles, which accounted for 8.3 percent of global car sales in 2013, are expected to continue growing in popularity in the years ahead. However, IRENA warned that this should be accompanied by a significant expansion of infrastructure for these vehicles. It says that electric cars should account for the majority of car sales by 2030.
You can read more about the report by clicking here.
Senate climate hawks announce 500 day plan
Senate Democrats who are part a Climate Change Task Force call for a multi-step strategy that will allow energy independence and transition to renewable energy in the next 500 days.
Tuesday’s meeting of the task force saw Sen.Ed Markey
Ed MarkeyEnergy & Climate Biden seeks nearly billion in funding boost for EPA. Environmental organizations announce ‘Green New Deal promise’ for 2022 candidates. Why you shouldn’t expect profit margins will fall when prices go up MORE(D-Mass.) He outlined a series reforms that would help achieve the goal without increasing reliance on fossil fuels.
What is involved?The group demanded that lawmakers codify President Biden’s ban on Russian oil imports through SPIGOT Act, which Markey introduced in the beginning of the month.
They are also pushing for passage of another Markey-sponsored Bill, the SAVE Consumers Act. It is cosponsored by Sen. Martin Heinrich
Martin Trevor HeinrichLiberty for Ukraine, electrification to peace and prosperity Green groups claim that the gas crisis makes it more urgent than ever Overnight Energy & Environment Interior watchdog Zinke violated ethics rules MORE (D-N.M.). The bill would provide immediate relief for consumers by allowing 500 days of Russian oil imports from Strategic Petroleum Reserve. Additionally, the president is authorized to set emergency energy efficiency targets.
The task force also calls for the creation of a Civilian Climate Corps. This is one of the major environmental components of the broad Build Back Better Act (BBB). Sen. Joe Manchin
Joe Manchin5 things you need to know about Biden’s more centered ’23 Budget Plans Biden budget proposal includes nearly billion increases for EPA Biden unveiled a.8 trillion budget proposal, with tax hikes and spending boosts(D.W.Va.), however, seemed to have thwarted the bill’s passage in December by stating he would not support it. However, he has stated that the climate provisions of BBB are one of the aspects he supports. He could also back a smaller package.
Heinrich and Sens were also present at the task-force meeting with Markey. Tina Smith
Tina SmithPowell says a ‘overheated job market’ can withstand rate rises Overnight Energy & Environment Interior watchdog Zinke broke ethics rules Psaki deems Republicans ‘irresponsible,’ for blocking Biden’s Fed nominees MORE (D-Minn.), Tom Carper
Thomas (Tom), Richard CarperOn the Money Democrats search for a plan on inflation Democrats are divided over how to deal rising inflation Lobbying around the world MORE (D-Del.) (D-Del.) Jeff Merkley
Jeff MerkleyCongress must strengthen insider trading protections for its members, their families The Hill’s Morning Report – Russia-Ukraine conflict enters second fatal week Democrats seek to offramp masking in public (D-Ore.).
Freedom is the key to energy independence. It is about freedom from volatile globalized oil commodities, from high gas costs, and from pollution, dirt air, and polluted water, especially within Black and Brown communities, which are the most affected by pollution, Markey stated during the meeting.
Learn more about the proposals.
Tomorrow on Tap
- The House Energy & Commerce Committee will host a hearing entitled Trusting the Tap: Upgrading America’s Drinking Water Infrastructure
What We’re Reading
- Oil industry report warns that revenue bleeds without new leasing
- Climate change hidden impact: landslides
- Former U.S. energy secretary says that a declining Russian oil demand is another source of volatility.
- A new study has shown that birds are laying eggs earlier than usual. Scientists blame climate crisis (CNN).
Finally, here’s something completely off-beat.The Jaws’ long arm
This is it for today. Thanks for reading. For the most recent news and coverage, visit The Hillsenergy & environment page. We look forward to seeing you tomorrow.