The U.S. Senate passed the first energy bill in nine years on April 20, legislation that contains modest measures popular with both Republicans and Democrats to modernize the power grid and speed the permitting process for LNG exports.
The bill passed 85-12. According to a report by Reuters, the bill attempts to protect the power grid from an expected rise in extreme weather events, such as ice storms and hurricanes, and from cyberattacks. It also aims to spur innovations in storage of power from wind and solar energy.
The American Petroleum Institute (API) welcomed passage of the bill, called the Energy Policy Modernization Act. “The bill streamlines the natural gas export permit application process, ensures natural gas pipelines are permitted more efficiently—which could lower prices for consumers in places like New England—and promotes job diversity in the energy industry,” API said in a statement released following passage of the bill.
“Allowing American natural gas to compete in the world marketplace will benefit consumers, enhance our national security interests, and bolster our global allies’ independence from nations that would use their energy resources as a diplomatic and economic weapon,” said API President and CEO Jack Gerard.
“Expanding our export opportunities will also create jobs, strengthen our economy, and our energy security. And independent reports show exporting U.S. natural gas will reduce global greenhouse-gas emissions,” he said.
Gerard also said that as the No.1 natural gas producer in the world, the U.S. also needs to invest in reliable infrastructure. He pointed to setting realistic deadlines for approving pipelines, which he said “are one of the safest and most efficient modes to transport product, and will enhance the delivery of affordable energy to consumers.”
Recommended Reading
Marketed: Sage Natural Resources 34 Well Package in Tarrant, Wise Counties, Texas
2024-02-02 - Sage Natural Resources retained EnergyNet for the sale of a 34 package (ORRI) in Tarrant and Wise counties, Texas.
Marketed: Mississippian Play Opportunity in Blaine County, Oklahoma
2024-02-02 - An undisclosed seller retained EnergyNet for the sale of a Mississippian play opportunity in the Webb 15-22-1XH Well in Blaine County, Oklahoma.
Marketed: EnCore Permian Holdings 17 Asset Packages
2024-03-05 - EnCore Permian Holdings LP has retained EnergyNet for the sale of 17 asset packages available on EnergyNet's platform.
Marketed: Bendel Ventures 73 Well Package in Texas
2024-03-05 - Bendel Ventures LP has retained EnergyNet for the sale of a 73 well package in Iron and Reagan counties, Texas.
Marketed: Stone Hill Minerals Holdings 95 Well Package in Colorado
2024-02-28 - Stone Hill Minerals Holdings has retained EnergyNet for the sale of a D-J Basin 95 well package in Weld County, Colorado.