The Biden Administration recently signed an executive order requiring his agencies to factor in social cost estimates when analyzing regulatory actions. Federal appointees will be required to establish a damages value based upon global environmental damages from climate changes. These values are referred to as the “social cost of carbon,” the “social cost of methane” and the “social cost of nitrous oxide.”
“The announcement by the Bureau of Land Management ‘to not hold’ the second quarter oil and gas lease sale due to an ongoing review ordered by President Biden is disappointing, disheartening and not surprising,” said Gordon in the statement. “Federal reviews of anything typically take months, and sometimes years.”
The process, according to the announcement, can reduce the carbon footprint of concrete by more than 50%, reduce raw material costs and increase profitability. CarbonBuilt’s technology increases the use of low-cost waste materials and cuts back on the need for traditional cement.
Wyoming Governor Mark Gordon recently sent a letter to Secretary of the Interior Deb Haaland, and cited the lack of consultation with western governors before the lease sale moratorium was put in effect. Governor Gordon emphasized that “the eight Western states with federal oil and gas leasing programs will have investment losses of $2.3 billion, production value losses of $882 million and tax revenue losses of $345 million in the first year of the moratorium.”
House Bill 166 will require public utilities to take additional steps before retiring coal or natural gas plants in the state. Utilities would be required to demonstrate to the Wyoming Public Service Commission that the retirements would not lead to added costs to ratepayers or less reliable electrical service.
The Biden Administration has published summary sheets for each state in a push for support of his $2.3T American Jobs Plan. Wyoming’s summary sheet highlights the state’s “outsized potential for innovative energy technologies including carbon capture and sequestration and geothermal energy generation, that create good paying union jobs.”
The WOGCC will take 45 minutes at the start of the April 13, 2021 hearings to listen to industry comments. No Commission action will be taken regarding these comments at the April 2021 hearing.
Recent studies have shown that methane leak rates from abandoned oil and gas wells may constitute a significant portion of a state's emissions inventory.