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California goes on offense against Big Oil

 California sues big oil

Democratic California Gov. Gavin Newsom announced a lawsuit Saturday against five major oil companies and their subsidiaries, seeking compensation for damages caused by climate change.

The suit, filed in San Francisco County Superior Court by Democratic Attorney General Rob Bonta, accuses the companies of knowing about the link between fossil fuels and catastrophic climate change for decades but suppressing and spreading disinformation on the topic to delay climate action. The New York Times first reported the case Friday.

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Biden to cancel oil and gas leases in Alaska issued by Trump administration

Biden to cancel gas and oil leases

The US interior department has canceled seven oil and gas leases in Alaska’s Arctic national wildlife refuge that were part of a sale held in the waning days of the Trump administration, arguing the sale was legally flawed.

The interior secretary, Deb Haaland, said with her decision to cancel the remaining leases “no one will have rights to drill for oil in one of the most sensitive landscapes on earth”. However, a 2017 law mandates another lease sale by late 2024. Administration officials said they intend to comply with the law.

Two other leases that were issued as part of the first-of-its-kind sale for the refuge in January 2021 were previously given up by the small companies that held them amid legal wrangling and uncertainty over the drilling program.

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Maui county sues Hawaiian Electric over wildfires that killed more than 100

Maui county syes Hawaiian Electric

Maui county sued the Hawaiian Electric company on Thursday over the fires that devastated Lahaina, saying the utility negligently failed to shut off power despite exceptionally high winds and dry conditions.

Witness accounts and video indicated that sparks from power lines ignited fires as utility poles snapped in the winds, which were driven by a passing hurricane. The 8 August fire killed at least 115 people and left an unknown number of others missing.

A spokesperson for Hawaiian Electric didn’t immediately respond to an email seeking comment.

Had the utility heeded weather service “warnings and de-energized their powerlines during the predicted high-wind gusts, this destruction could have been avoided”, the lawsuit said.

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US to announce release of 15M barrels of oil from strategic reserve

US will release 15M barrels of oil

The U.S. will release 15 million barrels of oil from its strategic reserve, Biden administration officials plan to announce Wednesday.

The 15 million barrels are the final tranche of a disbursement of 180 million announced in March and come as energy prices threaten to rise again less than a month before Election Day.

Rising prices have emerged as a drag on Democrats as polls show the economy is one of the issues most top of mind for voters as they head to the ballot box. Early voting began in some states this week.

The sale comes after OPEC+ announced a production cut of 2 million barrels of oil per day earlier in October. Oil prices had dipped as low as $75 per barrel in September before rebounding after the OPEC announcement to more than $90. West Texas Intermediate crude is now at $83 per barrel.

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Drone strikes knock out half of Saudi oil capacity, 5 million barrels a day

Saudis shut down half of oil output after attackDrone strikes on Saudi Arabian oil facilities have disrupted about half of the kingdom's oil capacity, or 5% of the daily global oil supply, people with knowledge of Saudi's oil operations told CNN Business.
Yemen's Houthi rebels on Saturday took responsibility for the attacks, saying 10 drones targeted state-owned Saudi Aramco oil facilities in Abqaiq and Khurais, according to the Houthi-run Al-Masirah news agency.
Five million barrels per day of crude production have been impacted after fires raged at the sites, one of them the world's largest oil production facility, people with knowledge of the kingdom's operations said. The latest OPEC figures from August 2019 put the total Saudi production at 9.8 million barrels per day.

Wholesale energy prices dip below zero because of California’s solar power

Solar power in CaliforniaSolar power shines bright in California, and wholesale energy prices prove it. Last winter and early spring’s dependence on solar drove wholesale energy prices to negative prices, according to the U.S. Energy Information Administration.

Solar power in the California Independent System Operator accounted for nearly 40% of net grid power for three hours on March 11, 2017, the administration reports —a major first.

These figures don’t translate for the consumer into retail prices, which are based on averages. But the move will likely cause energy companies to pay more attention to green energy options.

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Nuclear reactor at Indian Point plant in N.Y. shut down again after leak found

Indian Point reactor leakOne of two reactor units at a nuclear power plant near New York City has been taken offline for the second time in four months after leakage was found in a pipe that pumps water into the facility, officials said Friday.

Reactor Unit 2 at the Indian Point Energy Center in Buchanan, N.Y., was shut down Thursday after discovery of the malfunction. Officials said the leak was found in a non-radioactive part of the plant.

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