Oil and gas producers will face heavier taxes with the Labor government’s proposed overhaul of the petroleum resource rent tax (PRRT). Treasurer Jim Chalmers said on Sunday that the move is expected to raise $2.4 billion (US$1.62 billion) over the forward estimates. Without the changes, the sector is already forecast to pay more than $11…
Biden Admin Affirms Trump-Era Decision to Export Natural Gas From Alaska
The Department of Energy (DOE) on Thursday affirmed a Trump-era decision to export liquified natural gas (LNG) from a facility in Alaska. Under the Trump administration, in 2020, a company called Alaska LNG was authorized to export LNG to any country with which the United States has not entered into a free trade agreement (FTA). In a supplemental…
UK and US Vow to Bolster Energy Independence, End Reliance on Russian Energy
February 28, 2023
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Business & Marketseconomic policieseconomyenergyEuropeGrant ShappsInternationalJennifer GranholmLNGRussia-Ukraine WarUKUSUS NewsVladimir PutinWar in UkraineWorld
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Britain and the United States have pledged to work together to bolster energy independence and help their European partners end reliance on Russian energy. Since Russian President Vladimir Putin launched the invasion of Ukraine on Feb. 24, 2022, European nations have reduced their imports of Russian oil and gas, leading to a shortage of supplies…
Federal Government Releases Canada’s ‘Just Transition’ Plan Toward ‘Net-Zero World’ in 2050
The Liberal government has released its “just transition” plan that claims it will not trigger massive unemployment in the country’s energy towns. Released on Feb. 17, the “Sustainable Jobs Plan” says the federal government aims to create “sustainable jobs” in every region of Canada as it looks to move the country to a “net-zero world.”…
Report: Texas Tops Nation in Oil and Gas Production, Jobs
February 13, 2023
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jobsLNGoil and gasoil productionRegional & State NewsState NewsTexasTexas Comptroller Glenn HegarTexas gasTexas oilUSUS News
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Texas is the top oil and natural gas producer and industry employer, according to a new report. The state also ranked highest in the country in industry wages, payroll, and Gross Regional Product (GRP). GRP is the Gross Domestic Product (GDP) for a region of study. As the country’s top oil producer, Texas supplied more…
Cory Morgan: Canada Could Win on Multiple Fronts by Going All In on LNG Exports
Commentary Twice in the last year, international leaders have approached Canada cap-in-hand, seeking to purchase Liquified Natural Gas (LNG). German Chancellor Olaf Scholz met with Prime Minister Justin Trudeau last August, and Japanese Prime Minister Fumio Kishida visited Ottawa on Jan. 12. Both leaders left Canada frustrated, as Trudeau offered sympathy for their plight in…
US to Become Top LNG Exporter in 2023 as First Tanker Arrives in Germany: Report
The United States is on course to surpass the world’s largest exporter of liquefied natural gas (LNG) in 2023, according to ship-tracking data compiled by Bloomberg, which noted the United States and Qatar both exported 81.2 million tons of LNG last year. In a year when large economies in Europe and Asia scrambled to source…
1st Tanker Carrying LNG From US Arrives in Germany
BERLIN—The first regular shipment of liquefied natural gas from the United States arrived in Germany on Tuesday, part of a wide-reaching effort to help the country replace energy supplies it previously received from Russia. The tanker vessel Maria Energy arrived at the North Sea port of Wilhelmshaven, where its shipment of LNG will be converted…
Bad Energy Decisions Made Europe’s Energy Crisis Worse: IER Analysis
Though many blame the Russian attack on Ukraine as being the main driver of Europe’s energy crisis, the actual reason began well before the conflict, and is linked to bad energy decisions by the bloc, according to an analysis by the Institute for Energy Research (IER). Post the COVID-19 lockdown in 2021, energy demand in…
How Bad Energy Decisions Made Europe’s Energy Crisis Worse: IER Analysis
Though many blame the Russian attack on Ukraine as being the main driver of Europe’s energy crisis, the actual reason began well before the conflict, and is linked to bad energy decisions by the bloc, according to an analysis by the Institute for Energy Research (IER). Post the COVID-19 lockdown in 2021, energy demand in…
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