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The increased focus on oil and gas exploration in the Arctic has identified numerous issues. Oil and gas exploration is a significant challenge for policy makers at all levels of government. In the recent Review of Shell’s 2012 Alaska Offshore Oil and Gas Exploration Program, the Department of Interior identified seven critical principles for safe and responsible offshore drilling, including improved management of contractors and integrated government oversight. It has been noted that with the substantial oil and gas resources believed to exist in the Arctic, geopolitical considerations will greatly impact domestic policy. A Center for Climate and Energy Solutions… [more]
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According to The President’s energy blueprint, the Obama Administration is calling on Congress to establish a $2 billion Energy Security Trust to invest in breakthrough research into technologies, such as advanced electric vehicles, homegrown biofuels, fuel cells, and domestically produced natural gas. The funds would come from oil and gas royalty revenues generated from development in Federal waters off the Outer Continental Shelf (OCS). Other highlights of the blueprint include: Making the renewable energy Production Tax Credit permanent and refundable; A new $25 million prize for the first, natural gas combined cycle power plant to integrate carbon capture and storage;… [more]
View InsightU.S. and Mexican negotiators on February 20th reached a deal – called The Transboundary Agreement – that would regulate oil and gas development along the countries’ maritime border in the Gulf of Mexico. The Agreement would allow each country to oversee the environmental and safety protocols of the other, and could by June open 1.5 million acres of U.S. offshore territory for oil and gas development. The U.S. Interior Department estimates that the area in question “contains as much as 172 million barrels of oil and 300 billion cubic feet of natural gas, relatively modest amounts by the oil-rich gulf’s… [more]
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