California

Energy Markets

California, Stellantis strike lorry emissions deal

Chrysler moms and dad Stellantis and the state of California reached an arrangement on emissions on Tuesday after the company unsuccessfully sought to join a deal that other automakers had struck with the state in 2019. Under the contract revealed by the state and the company, Stellantis will adhere to California's zero-emissions, light-duty car sales requirements through 2030 even if the state can not implement its rules. In addition, the company will not oppose California's. authority under the Clean Air Act for its greenhouse gas. emissions and zero-emission vehicle requirements. Ford, Honda, Volkswagen and BMW. struck a voluntary contract with...

Oil & Gas

United States Coast Guard states no oil shine seen off California after spill

The U.S. Coast Guard stated an overflight on Sunday no longer identified an oil sheen off the coast of Huntington Beach, California, after oil spill discovered on Friday was cleaned up. The company stated offshore healing assets would be demobilized after they recovered about 85 gallons (322 liters). of item from the ocean. Shoreline cleanup groups continue to observe tar balls along. the beaches in Huntington Beach and will continue to eliminate them. as required, the agency said, adding they had currently removed. about 800 pounds (363 kg) of oily waste and tar balls. The firm identified the oil spill...

Carbon Emissions

Sempra improves capex by 20% as California, Texas drive power demand

U.S. electric utility Sempra on Tuesday raised its fiveyear capital investment plan by 20%. to $48 billion, as power need growth in Texas and California. stimulates investments. Transmission and distribution controls San Diego,. California-based Sempra's forecasted spending, which concentrated on. integrating renewable resource, battery storage and supporting. electric cars. The electrification of oil and gas production in Texas. loomed big in Sempra's growth plans. West Texas continues to be a really strong story for us. with, said Allen Nye, who heads Sempra's Texas energy, Oncor. Electric Shipment. Nye mentioned a recent preliminary research study by the Texas grid. operator forecasting...

Renewable Fuels

Activist Elliott has accepted Phillips 66's performance goals, CEO Lashier says

Activist financier Elliott Investment Management has actually accepted the performance enhancement plan that U.S. oil refiner Phillips 66 laid out to improve investor returns and share price, President Mark Lashier said in an interview on Tuesday. They have actually bought into our plans that we currently had in place, the CEO of one of the largest U.S. oil refiners said at its Houston head office. Elliott sent out a letter to the company's board last fall, divulging a $1 billion stake in the business, and calling for additions to its board of directors and a focus on improving its oil...

LNG

US West power prices turn unfavorable on low demand, sufficient renewables

Moderate weather condition and ample hydro and other eco-friendly power products in the U.S. West cut area electrical energy costs in California and Arizona to tape-record lows listed below zero in recent days. Negative costs mean there is excessive power in a region due to low demand and/or transmission constraints, and are used to encourage power generators to shut plants or pay to keep them running. In addition to unfavorable power prices, low need and pipeline upkeep have actually trapped natural gas in the Permian basin, the country's greatest oil producing shale development, causing next-day costs at the Waha hub...

Oil & Gas Drilling

United States Coast Guard says no oil sheen seen off California after spill

The U.S. Coast Guard stated an overflight on Sunday no longer identified an oil sheen off the coast of Huntington Beach, California, after oil spill found on Friday was tidied up. The firm stated offshore healing assets would be demobilized after they recovered about 85 gallons (322 liters). of product from the ocean. Shoreline cleanup groups continue to observe tar balls along. the beaches in Huntington Beach and will continue to eliminate them. as needed, the firm said, including they had actually currently gotten rid of. about 800 pounds (363 kg) of oily waste and tar balls. The agency found...

Renewable Energy

Summer power prices seen surging for Texas, falling in California

Severe heat and rising electrical energy need are anticipated to increase power prices in Texas this summertime, while the remainder of the U.S. power markets are broadly pricing lower, according to experts and data this week. WHY IT'S IMPORTANT Imbalances in U.S. power supply and demand, together with severe weather, can lead to wholesale power cost spikes that can eventually be passed down to homes and organizations. BY THE NUMBERS Area wholesale electrical energy costs in the Texas power trading center for August have consistently traded above $175 a. megawatt-hour (MWh) up until now this month, compared to approximately. $...