Archive for the ‘Government Programs’ Category
A Proposed Agenda for the Presidential Commission
EPRINC Briefing Memorandum
June 2010
The National Commission on the BP Deepwater Horizon Oil Spill and Offshore Drilling has been tasked with investigating the Deepwater Horizon accident and making recommendations on how to prevent and mitigate future spills. Given the large stakes to the marine environment, coastal and national economies, U.S. energy security, and revenues to the federal government, the Commission’s recommendations are likely to have consequences that go well beyond an investigation of the accident and implementation of a new regulatory program.
EPRINC recommends the Commission give careful review to the following agenda items:
The Deepwater and Offshore Arctic Drilling Moratorium
The costs of the moratorium on deepwater drilling are high, and the likelihood that it is not delivering substantial benefits in lower risk should place this agenda item as the first order of business for the Commission. Priority regulatory Read More >>>
Oil Spill in the Gulf – Who is in Charge?
EPRINC Briefing Memorandum
June 2010
Download PDF (includes full citations)
EPRINC staff has received a large number of inquiries on who has ultimate responsibility to address the clean up and related responses following the April 20, 2010 blowout and subsequent oil spill at BP’s Macondo well. These authorities are delineated in the Oil Pollution Act of 1990. The highlights are summarized in this document.
As a result of the Macondo blowout, the federal government has ordered a six month moratorium on deepwater drilling. A forthcoming EPRINC report will evaluate the economic, energy security, environment, and safety issues associated with exploring for and developing the deep water resources of the U.S. Gulf of Mexico.
The Oil Pollution Act of 1990: Defining Authority and Liability
In response to the Exxon Valdez oil spill of 1989, Congress passed comprehensive oil spill legislation: The Oil Pollution Act of 1990 (OPA). Prior to the passing of OPA, oil spills were governed by a patchwork of environmental regulations. OPA defines the reach of federal authority in response to oil spills and provides means to prevent and treat oil spills. OPA also broadened the liability of responsible parties associated with oil spill cleanup and Read More >>>
Presentation Before the Energy Forum
On February 22, 2010 EPRINC made a presentation before the Energy Forum in New York at their event entitled “U.S. Refining Industry - Prospects for the Future.” EPRINC’s presentation, which assesses the impact of the Waxman-Markey cap and trade bill and other environmental and energy policies on the U.S. refining industry, has been posted on our website and can be downloaded here.
The presentation will also be posted at http://www.nyenergyforum.org
The Future of the U.S. Refining Industry Under Waxman-Markey
EPRINC has released an executive summary of its forthcoming report examining the future of the U.S. refining industry under the American Clean Energy and Security Act, also known as the Waxman-Markey bill.
A PDF version of the executive summary can be downloaded here and is posted on our publication page. The full report will be posted on our website later this week.
EXECUTIVE SUMMARY
EPRINC has evaluated the economic consequences to the U.S. refining industry of the American Clean Energy and Security Act (ACES), H.R. 2454, also known as the Waxman-Markey (W-M) energy and climate bill. The legislation calls for controlling emissions of greenhouse gasses (GHGs) by placing a price on GHG emissions. The bill passed the House of Representatives on June 26, 2009 and companion legislation is under discussion in the U.S. Senate.
Under the Waxman-Markey bill, both manufacturers (refiners) and importers of transportation and other fuels derived from crude oil would be required to purchase allowances to account for the carbon dioxide (CO2)emitted into the atmosphere as a result of combustion of these fuels beginning in 2012, two years before any free allowances are distributed. Allowances could be bought and sold under the legislation’s cap and trade program. U.S. refiners are responsible for approximately 45% of all emissions covered under Read More >>>
A Primer on Requirements for the Use of Renewable Fuels in the U.S. Transportation Sector
U.S. federal law has encouraged the use the renewable fuels in the U.S. transportation sector since the 1970’s. Under President Carter, Congress enacted several renewable-energy programs, including targeted subsidies to promote the use of ethanol in transportations fuels. Between 1981 and 1984, a “Solar and Energy Conservation Bank” was established which was authorized to spend $3 billion to provide loans for solar energy and conservation investments. These appropriations were cut by later Congresses.
The renewable fuels programs, which were largely dominated by a series of federal financial incentives since the 1980’s were modified in 2005 to include specific volumetric mandates for the use of renewable fuels, largely supplied by ethanol from corn. The Energy Policy Act of 2005 (EPACT05) included financial incentives and regulatory provisions to promote a broad range of domestic fuels, including nuclear power, conventional fossil fuels, renewable fuels, and greater energy efficiency. Among the requirements for alternative transportation fuels were volumetric mandates that required so-called obligated parties, such as refiners and importers, to phase-in renewable fuel volumes over 7 years, beginning with 4 billion gallons by 2006 and ending at 7.5 billion gallons in 2012. These mandates in EPACT05, also known as Renewable Fuel Standard 1 (RFS1), were implemented through a rule making process promulgated by the Environmental Protection Agency Read More >>>
