Full Title: “Looking Back … and Looking Ahead”: Energy Sector Developments in 2015 That Will Continue to Shape the Energy Sector in 2016
Author(s): Shearman and Sterling LLP
Publisher(s): Shearman and Sterling LLP
Publication Date: January 1, 2015
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In December 2015, President Obama signed into law H.R. 22, the Fixing America’s Surface Transportation Act (FAST Act), authorizing budgetary resources for surface transportation programs for fiscal years 2016-2020, and the Consolidated Appropriations Act, 2016 (Appropriations Act), an omnibus spending bill to fund the federal government through September 30, 2016. The FAST Act also contains provisions intended to improve the federal permit review process for major infrastructure projects, including energy projects, and the Appropriations Act lifts the 40-year-old ban on exports of US produced crude oil and extends wind and solar tax credits for three years. While the FAST Act evidences bipartisan support for accelerating review of energy projects, and the Appropriations Act evidences congressional willingness to horse trade on energy issues important to each side, it remained unclear at the end of 2015 whether omnibus energy legislation pending before the 114th Congress will be passed and signed into law by the President in 2016.