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The two-year-old slump in oil prices continues to take its toll on producers, with no end in sight. And that pain extends to the regional banks that cater to the oil patch. But some banks insist that the difficulties aren’t as bad as they may seem. Among them is BOK Financial, a Tulsa-based bank that’s been lending to producers for 100 years. (Read more)
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The retirement of coal and nuclear power plants in the U.S. over the last few years has raised concerns that the electric power industry might fail to deliver when demand for power heightens — such as during a blistering heat wave. But for the most part, that’s not the case this week as a so-called “heat dome” leaves the eastern and central parts of the U.S. sweltering with temperatures of 95 degrees or more and feeling as though it’s much hotter. (Read more)
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When it comes to creditworthiness, electric utilities generally enjoy investment-grade ratings that make financing easier for these capital-intensive companies. But the popularity of residential rooftop solar systems is threatening to eventually put those favorable ratings at risk. So warns Fitch, one of the three major ratings agencies. (Read more)
Continue readingEnergy isn’t a marquee event at the Republican National Convention in Cleveland. But the topic will have its moment in the spotlight Wednesday night when the man dubbed the “king of energy” by Donald Trump will take to the podium at Quicken Loans Arena. Harold Hamm, who like Trump has made billions of dollars in his career, sees the candidate as someone who will rally behind independent oil and gas producers such as himself as they try to regain their footing in a glutted market. (Read more)
Continue readingOne year ago, the United States and its partners concluded their negotiations with Iran on the Joint Comprehensive Plan of Action (JCPOA), an agreement intended to reduce the threat from Iran’s nuclear program in exchange for economic sanctions relief. Implementation of the agreement began in January 2016. Richard Nephew, program director for economic statecraft, sanctions and energy markets at the Center on Global Energy Policy, who was the lead sanctions negotiator for the United States from 2013-2014, has written a report on six months’ implementation of the nuclear deal, particularly with respect to sanctions relief. He concludes that sanctions relief has been stalled as much by concerns over residual sanctions as domestic regulatory factors and low oil prices globally. On this special episode of Columbia Energy Exchange, host Bill Loveless sits down with Nephew to discuss his report and the status of the Iran agreement’s implementation at…
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A $1.5 billion deal between Southern Company and Kinder Morgan this week is one more sign of the growing importance of natural gas to electric power generation in the U.S. Atlanta-based Southern Company, the second-largest utility company in the U.S. in terms of customer base, agreed to pay cash to Kinder Morgan for a 50% equity interest in the Southern Natural Gas (SNG) pipeline system. (Read More)
Continue readingPhil Sharp understands energy policy as well as anyone in Washington, having spent 20 years as one of the leading lawmakers on the topic and the last 11 as the president of Washington’s oldest think tank devoted exclusively to analysis of energy and the environment. Best of all, in my estimation, he comes from an era when Congress worked on a bipartisan basis to enact policies addressing concerns over the production of energy and how we consume it – and often did so under a lot of pressure. Phil recalls some of the biggest battles over energy policy on Capitol Hill, the dramatic changes in U.S. energy fortunes, and what we can learn from this experience. Among his new pursuits, Phil is joining the Center on Global Energy Policy as a fellow who will teach and perform research on climate…
Continue readingThe U.S. wind energy industry is the fastest-growing new source of electricity in the country. But it’s not resting on its laurels, especially in an election year. Hence the launch of American Wind Action, a group that will promote the benefits of wind energy to the public as voters consider whom to elect for the White House, Congress, state legislatures and other offices where public policy is made. (Read more)
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As he follows the Solar Impulse 2 on its historic flight around the world, the CEO of one of the project’s partners, Ulrich Spiesshofer, draws similarities between the challenges facing the aircraft and those confronting companies navigating changes in energy consumption, like his. “We need to make sure that we demonstrate to the world with projects like this that we continue to stretch the limits,” Spiesshofer, the chief executive of ABB, a multinational maker of electricity grids and robots, said during a visit to Washington the other day. “This project is absolutely stretching the limits.” (Read more)
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The CEO of the biggest electric utility in the U.S. gave a wide-ranging talk the other day on a transformation taking place in her industry, as power providers move increasingly to cleaner forms of generation. But one topic was missing as Duke Energy’s Lynn Good delivered her formal remarks at an energy conference in Washington: nuclear energy. (Read more)
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