As the wind industry and allied senators called for the Senate to insist on its two-year tax breaks extension bill, prospects for the effort were dwindling, according to a key architect.
After the House passed a one-year bill that extends about 50 expired breaks -- including the wind Production Tax Credit -- only through this year, Senate Finance Committee Chairman Ron Wyden, D-Ore., told reporters that the legislative options to get a pending two-year bill through the Senate were limited.
"I continue to talk to senators about a bipartisan bill," Wyden said, "and I will tell you it is hard to see how you get over the procedure (issues) to bring it up."
BRATISLAVA, Slovakia (AP) — Slovakia's prime minister says his government is terminating the lease of a major state-owned hydro power plant to Italian energy company Enel.
Robert Fico said Thursday that Enel had breached a contract signed in 2006. He has blamed Enel for not providing sufficient information about profits generated by the 720-megawatt Gabcikovo plant located on the Danube river and a lack of a plan for its maintenance.
The House on Monday overwhelmingly approved of a one-year renewal of the expired wind Production Tax Credit and other business tax breaks, despite calls for a longer extension from the wind industry, backed by environmental groups.
The Republican-led House voted 378-46 to send the $44.7 billion extenders bill to the Senate. Democrats there will have to decide whether to insist on the two-year, $85 billion extenders bill passed by the Finance Committee this spring, or simply pass the House bill as time runs short on their lame-duck session.
President Barack Obama made clear Wednesday he could sign either bill.
Projections for sales of Tesla’s Model 3, to start shipping in 2017 with a price tag of $35,000, could be seen as overly optimistic if gasoline prices remain relatively low, The Wall Street Journal reports.
The $44.7 billion House bill to renew expired wind energy and other business tax breaks through 2014 failed to draw opposition from Senate Democrats on Tuesday, as a key Republican predicted lawmakers will ultimately agree to send the plan to President Barack Obama.
Lawmakers on both sides of the Capitol said they wanted a longer term bill to give businesses and individuals more certainty. But they also said the one-year bill was the only viable option after a $400 billion multi-year draft plan discussed by leaders in both chambers was shelved after the White House voiced its opposition last week.
WASHINGTON (AP) — Dramatic U.S. government test results raise new concern that bulk shipments of rechargeable lithium batteries carried as cargo on passenger planes are susceptible to fires or explosions that could destroy the airliners.
Yet U.S. and international officials have been slow to adopt safety restrictions that might affect the powerful industries that depend on the batteries and the airlines that profit from shipping them. The batteries are used in products ranging from cellphones and laptops to hybrid cars.
Short-covering and the expiration of the front month contract helped power oil prices to a huge gain Friday. West Texas Intermediate crude for January delivery shot up 5 percent, or $2.41, to settle at $56.52 a barrel on the Nymex, while in London February Brent finished $2.11 higher at $61.38, Reuters reports.
Oilfield services company Baker Hughes reported Friday that 1,875 rigs were drilling for oil and gas in the U.S. this week, a drop of 18 and the second week in a row that the number has fallen, FuelFix reports.
Comparing present-day statistics with numbers during the oil bust in the mid-1980s has led JP Morgan Chase economist Michael Feroli to warn that Texas could slip into a regional recession next year, FuelFix reports.
Job losses in the power generation sector over the past three years topped 5,800, according to data released by the Energy Information Administration Friday, which said all parts of the industry were affected other than renewable energy, The Hill reports.
Avenue Capital, the hedge fund run by Marc Lasry that specializes in buying distressed companies’ debt, is raising $750 million for a fund that will focus on the energy sector, according to the Pennsylvania Public School Employees’ Retirement Board, which confirms it has put in $200 million, the New York Post reports.
Tesla is testing the market for battery swaps: Near California supercharging stations where Model S owners can top up their batteries for free, the company is creating a facility where drivers can pay a cost equivalent to a tank of gasoline and get a fully-charged battery installed in three minutes, The Wall Street Journal reports.
The growth of global carbon emissions slowed in 2013 -– although the total of 35.3 billion tons did set a record -- and the rate of increase tailed off despite an uptick in economic activity, says a report from the European Commission’s Emissions Database for Global Atmospheric Research, or EDGAR, according to E&E.
INEOS hopes to get commercial shale gas production under way in Britain before the end of the decade, according to documents the government released Friday, which detailed the company’s presentation to the Department of Energy and Climate Change in February, Platts reports.