Energy Daily: Progress on permit reform, RISEE Act news and oil price increases in Middle East news

IN CASE YOU MISSED IT: COMMISSION REPORTED REFORM: The Senate Energy and Natural Resources Committee easily approved the senators’ nominations. Joe Manchin AND John BarrassoA company proposal to streamline the approval process for both fossil fuel and electricity transmission projects.

Now all eyes are on the Senate chamber – and on the majority leader. Chuck Schumer, translation:

Details: The measure won overwhelming bipartisan support, passing the panel in a 15-4 vote. A group of liberal lawmakers, along with one Republican, voted against the proposal: Senators. Ron Wyden, Bernie Sanders, Mazie Hirono, AND Josh Hawley.

Reasons for objection: While Wyden acknowledged the bill contains “useful provisions,” he argued it contradicts the intent of the Inflation Reduction Act of 2022, which authorized hundreds of billions of dollars in grants for clean energy technologies. In particular, he noted that he had problems with provisions that would require consideration of combining fossil fuel and renewable projects, end the Biden administration’s freeze on new liquefied natural gas export approvals and shorten the timelines for litigation against fossil fuel projects.

Amendments that were not adopted or were withdrawn: Wyden proposed an amendment that would have permanently banned offshore drilling on the outer continental shelf off the coasts of California, Oregon, and Washington. The amendment, however, was not adopted.

Senator. Lisa Murkowskitogether with the senator. Steve Dainesintroduced a series of provisions that would streamline hydropower projects, but many were withdrawn to be considered in a separate hearing. Manchin announced at the start of the hearing that the committee would consider amendments when it considers the public lands package in September.

Another notable amendment, introduced by Sanders, would seek to remove provisions that would require the energy secretary to approve or deny all future LNG export applications to non-FTA countries within 90 days. The lines in the bill would end the Energy Department’s hold on new LNG export approvals and prevent it from introducing new ones.

Another amendment that would require the sale of onshore oil and gas leases in some states was proposed by Daines, Murkowski and Sen. Cindy Hyde Smithbut this amendment also failed.

The amendment that was adopted: The provision was introduced by senators. Angus King, Jim Rischand Daines would promote projects to protect forests and infrastructure from wildfires. Manchin voted against the amendment, arguing that the permit application already contains a measure to do what lawmakers intended — and that the amendment “would likely create confusion.” The measure passed 12-7.

Next steps: It’s unlikely that a revised bill will be introduced before the November election, because approving fossil fuel improvements would be a tough vote for Democrats. Plus, Republicans would be reluctant to give Democrats a win. But it’s possible the measure could gain traction during the lame duck session — and both Manchin and Schumer are talking about the bill. Read more from Nancy here.

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A SCOOPLET ON ACT RISEE: Meaning. Bill Cassidy AND Sheldon Whitehouse plan to bring the coastal infrastructure bill to a hearing next month after dropping discussion about adding it as an amendment to the permit reform bill that passed the committee today.

The bipartisan duo wanted to include the “Shoreline Economies and Ecosystems Reinvestment Act” as an amendment to the permit reform bill during today’s review, Whitehouse Nancy. The RISEE Act would transfer revenues from offshore and onshore energy projects to states to be used for coastal restoration and protection.

But the RISEE Act was not among the 60 amendments proposed to be added to the authorization bill. Whitehouse said that if he and Cassidy are unable to get the issue heard during Wednesday’s committee meeting, it will instead be taken up in a separate hearing in September.

“We have developed an alternative solution,” Cassidy said Tuesday.

Reason: The senator’s aide said the committee leadership only allowed amendments that would not affect spending levels to be introduced during the markup because it was unclear what the cost estimate for the authorization bill would be. Amendments that would require a cost estimate from the Congressional Budget Office will be pushed to the September markup. Manchin announced today that the legislative vehicle for the amendments will likely be the public lands bill.

The plan to consider amendments that require CBO findings at a later date was made to ensure the smooth passage of the authorization reform bill out of committee and to prevent other measures from hindering its approval. Some amendments were withdrawn during Wednesday’s consideration of the authorization reform bill, with an agreement to consider the measures at a September hearing. Read more about it here.

Oil futures rise after assassination of Hamas leader: Oil prices rose nearly 3% Wednesday after the killing of Iran’s Hamas leader unleashed geopolitical havoc in the Middle East. Oil prices rose after falling for seven weeks.

How Reuters Agency writes that Brent crude futures for September rose $2.08, or 2.8%, to $80.71 a barrel, while October contracts rose $2.60 to $80.71. West Texas Intermediate crude futures rose $3.02 to $77.75 a barrel.

What is the driving force of change?:Hamas leader, Ismail Haniyeh, was killed on Wednesday in an airstrike in the Iranian capital.

“Daily developments and heightened geopolitical risks are only providing temporary relief for oil indices. Unless oil and gas infrastructure is hit, the recent rally is unlikely to last long.” Gaurav Sharmaan independent oil market analyst in London, said Reuters Agency. You can read more about it here.

BYD WANTS TO ENTER CANADIAN ECONOMY: Chinese electric vehicle maker BYD is looking to lobby for its vehicles in the Canadian market amid efforts Justin TrudeauThe US government intends to restrict imports of Chinese electric vehicles, Bloomberg reports.

BYD lobbyists have signed up to approach officials and lawmakers to push for the company’s anticipated market entry.

However: Canada is set to end a 30-day public consultation period on measures to restrict imports of Chinese electric vehicles — the first step before the country can impose any tariffs on the cars. The tariffs are expected to follow similar moves by the U.S. and European Union. Canada is also considering a ban on Chinese investment in new Canadian factories.

Conflict here: The Canadian government, along with labor groups, say the move is necessary to level the global playing field for Canadian auto workers and the electric vehicle industry so they can compete with Beijing. But climate groups say more affordable electric vehicles are needed to speed consumer adoption and reduce emissions. Read more here.

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