Energy Exchange

Report: California’s clean truck rule will save the economy billions, eliminate vast amounts of pollution

By Jamie Fine / Published: June 17, 2020

Chris Busch, Ph.D. with Energy Innovation co-authored this piece

Next week, California plans to do something that’s never been done before. The state will finalize the world’s first electric vehicle manufacturing standard, which promises to add thousands more clean trucks and buses to California streets.

The rule requires makers of medium- and heavy-duty trucks to build more electric options, and says a certain percent of heavy duty trucks on the market must be zero emission vehicles. The rule will make it so that, by 2035, about 60% of all trucks and buses sold in California will be clean.

The move is certainly good news for California’s air, which is the smoggiest in the country. But it’s also good news for the economy. A new report from Environmental Defense Fund and Energy Innovation finds the proposed rule saves at least $7 billion over the next 20 years.

Also posted in Air Quality, California, Climate, Electric Vehicles / Comments are closed

CalSTRS investor: Access to capital will tighten for oil and gas companies sidestepping climate

By Ben Ratner / Published: June 8, 2020

We’re back with the last in a two-part series on prospects for ESG and climate investing between EDF’s Ben Ratner and Brian Rice, a portfolio manager at California State Teachers’ Retirement Systems, the world’s largest educator-only pension fund with roughly $243 billion under management.

After exploring the importance of climate policy and net-zero corporate planning in the first Q&A, the discussion turns to oil and gas. The experts examine this historic moment for the industry, and how escalating climate pressures will profoundly affect energy markets and the companies that power them.

Also posted in California, Clean Energy, Climate, Natural Gas / Comments are closed

Clean energy bill is key to reinvigorating Illinois’ post-COVID economy

By Christie Hicks / Published: June 1, 2020

When the Illinois General Assembly met last week, lawmakers addressed the COVID-19 crisis among other priorities. This is, above all, a public health crisis and a human tragedy. More than 100,000 people in the state have been infected with this virus, and heartbreakingly more than 4,000 Illinoisans have lost their lives to it. We salute all of those working to combat this insidious virus.

Of course, the crisis also extends to our economy. Unemployment numbers rival those of the Great Depression. Businesses are fighting to stay afloat. Households face tough choices to afford essentials like rent, utilities and groceries.

A plan to stimulate the economy is urgently needed. Yet, the approach we take will have lasting implications. State leaders need to act quickly — but with an eye toward the years and decades ahead.

Also posted in CEJA, Clean Energy, Electricity Pricing, Illinois / Comments are closed

To fix flaring, Railroad Commission must tackle the incentive problem

By EDF Blogs / Published: May 29, 2020

Previously published in Shale Magazine

By Colin Leyden and Scott Anderson

A remarkable thing happened at the Texas Railroad Commission these past few weeks. Throughout the contentious debate over proration, a growing chorus of voices on both sides was calling on the commissioners to address flaring — an incredibly wasteful, environmentally damaging practice that has been giving producers a black eye for years.

During the epic 10-hour proration hearing on April 14, it wasn’t just environmental and health groups banging the drum on flaring. Large and small producers (both for and against proration), mineral rights groups and investors all called for action on flaring. So while proration may be off the agenda for now, the need and desire to address flaring lives on.

Also posted in Air Quality, Climate, Methane, Methane regulatons, Natural Gas, PermianMAP, Texas / Comments are closed

How FERC’s flawed definition of “subsidy” could reshape the energy future for 65 million Americans

By Imelda Foley / Published: May 27, 2020

The Federal Energy Regulatory Commission issued an order last December that could force many clean energy resources to bid into the nation’s largest wholesale electricity market, PJM, at artificially high prices. State policy makers, consumer and environmental advocates and the clean energy industry alike spoke out in vigorous opposition. Now, that order is being challenged in the courts. In the meantime, PJM must implement its directives in a process that will shape the future energy system for 65 million Americans in a region that spans 13 mid-Atlantic states and the District of Columbia.

While FERC’s December order was already bad policy — replacing competitive bidding with administrative pricing — many aspects of their mid-April order clarifying that policy are illogical and unworkable. As well as threatening competitive markets, these orders undermine state clean energy choices and, if FERC ignores PJM’s latest proposal attempting to soften the impact of the orders, could increase customer costs by billions.

Also posted in Clean Energy, Market resilience, New Jersey, New York, Regional Grid, Renewable Energy / Comments are closed

A zero flaring policy is long overdue, and investors can help make it reality

By Ben Ratner / Published: May 27, 2020

As investors take a hard look at the U.S. energy sector during this time of volatility, natural gas flaring is one of the most important and immediate risks to manage.

The eyesore of the oilfield, flaring natural gas destroys shareholder value and creates environmental, social and governance risk — exactly the kind of problem that an increasing number of asset managers, investment banks, and even private equity firms have promised to address.

Routine flaring is damaging the environment in several ways. In addition to the CO2 emissions from combusted gas, flares can release significant amounts of methane into the atmosphere. EDF’s recent helicopter survey found that more than one in every 10 flares at oil and gas sites across the Permian Basin was either unlit — venting uncombusted methane straight to the atmosphere — or only partially burning the gas they were releasing. In fact, the survey suggests that flaring could be among the region’s largest sources of fugitive methane and a troublesome contributor to local air pollution.

Also posted in Air Quality, Climate, Methane, Natural Gas, PermianMAP, Texas / Tagged New Mexico | Comments are closed