The Trump administration will be offering up all available areas in the Gulf of Mexico in the final offshore auction it will hold before president-elect Joe Biden is inaugurated in January.
Close to 78 million acres will be up for grabs off the coasts of Texas, Louisiana, Mississippi and Alabama by the Bureau of Ocean Energy Management, a branch of the Interior Department.
The auction will reveal the current level of demand for new leases as oil and gas companies struggle with volatile global prices and the regulatory uncertainty.
This is President Donald Trump’s last push to appease the oil and gas sector before Biden pivots the country to a promised ambitious environmental agenda that includes a commitment to ban new offshore leasing agreements. Reuters has more.
Gov. Gretchen Whitmer of Michigan has decided to halt operations of Enbridge’s Line 5, a pipeline that has been carrying oil to refineries between the U.S. and Canada since the 1950s. Whitmer made the announcement this past Friday, and is acting in accordance with the state’s public trust doctrine, under which she is required to protect the Great Lakes.
“Enbridge has routinely refused to take action to protect our Great Lakes and the millions of Americans who depend on them for clean drinking water and good jobs,” Whitmer said in a statement.
Enbridge has been found to violate terms in its agreement with the state, according to Michigan authorities, having failed to maintain a multilayered coating on the pipeline to protect it from corrosion and to ensure it’s properly supported. The New York Times has more.
Oil companies located in Nigeria have requested that security services be increased as anti-police brutality protests and anticipated cuts of hundreds of workers are expected to increase the desperation of workers in the region.
Unemployment in Nigeria’s energy regions already sit above 40 per cent, and increased job losses risk leading to more criminal activity, including pipeline tapping, pirate attacks and illegal oil refining.
About 1,000 jobs will be lost in Chevron’s plan to cut 25 per cent of its Nigerian workforce, says IndustriALL Global Union, as Reuters reported.
On Wednesday morning at 8:09 a.m., West Texas Intermediate was trading at US$42.03 and Brent Crude was going for US$44.52.
TC Energy will continue to move forward with construction of the Keystone XL pipeline despite president-elect Biden’s plan to pull the plug on its permits.
An executive with TC Energy Corp. said investments by Indigenous organizations and the creation of union jobs fit Biden’s “Build Back Better” agenda and that the company will help convince the president-elect to continue with the project.
“We believe, (we) have positioned (the Keystone XL pipeline) very favourably, particularly as we bring jobs to the economy next year, a key platform for the U.S. government as we recover from the COVID-19 pandemic,” said Bevin Wirzba, the president of liquids pipelines, during a webcast from the company’s investor day, The Canadian Press reports.
In other news, the latest review by Efficiency Canada has found that Prince Edward Island is the most improved province when it comes to its energy efficiency programs.
Not only did the province have the largest increase in per capita spending compared to last year’s report, but it also has the largest number of electric vehicle chargers per kilometres of road.
The study used 40 different metrics in five different areas to assess policy and performance. Provinces are given a score out of 100; P.E.I. scored 37 points this year, ranking in 5th place. CBC News has more.
Canadian Crude Index was trading at US$29.26 and Western Canadian Select was going for US$31.83 this morning at 8:09 a.m.