OVERNIGHT ENERGY: Interior chief takes center stage

Natural Resources Democrats will take the Steering Committee’s preference into consideration when they vote, which could take place as early as Thursday.

ADVERTISEMENT
Reps. Peter DeFazio (D-Ore.) and Raúl Grijalva (D-Ariz.) are competing for the ranking member spot. DeFazio is considered the favorite and is the panel’s most senior Democrat.

House committee weighs in on pipeline, regs bills

The House Energy and Commerce Committee will decide whether to advance a handful of bills to the floor during a Wednesday markup.

One bill aims to speed permitting time for natural-gas pipeline projects. Another would bar the Environmental Protection Agency from imposing energy-related regulations until the Energy Department or other agencies assess the impact on prices and the economy.

Click here for more on the 10 a.m. markup.

Panel puts carbon tax under microscope

A conservative energy group is hosting a Wednesday event that will criticize the idea of a carbon tax.

The Institute for Energy Research’s panel is made up of a handful of speakers who say imposing a fee on carbon emissions would harm the economy and do little to slow global warming.

“Yet when we leave the natural sciences and turn to the economics of climate change, we find that the peer-reviewed literature contains many inconvenient truths for the U.S. policy debate, particularly for those conservative groups claiming that a 'revenue-neutral carbon tax swap' will boost economic growth,” an advisory states.

Speakers include David Kreutzer, research fellow in energy economics and climate change with the Heritage Foundation, and Robert Murphy, chief economist with the IER.

Click here for more on the event.

Report to explore corporate climate change views and actions

The Center for Climate and Energy Solutions will unveil a study Wednesday that “examines how companies perceive their climate-related risks, the steps they're taking or plan to take, emerging best practices in building business resilience, and what's standing in the way,” an advisory states.

GOP takes aim at biofuels mandate

The conservative House Republican Study Committee will hold a forum Wednesday that will feature fresh attacks on the Renewable Fuels Standard, the national biofuels blending mandate.

The afternoon forum will include refining, livestock and restaurant industry officials who oppose the law that requires steadily increasing amounts of ethanol in the nation’s motor fuel supply.

Speakers will include Charles Drevna, head of the American Fuel & Petrochemical Manufacturers, a refining industry trade group that opposes the biofuels mandate.


IN CASE YOU MISSED IT:

Check out these stories that ran on E2-Wire Tuesday ...

– States hit EPA with lawsuit over ‘sue and settle’
– Green group sues State Dept. over Keystone lobbying docs
– Senior Senate Dem eyes Keystone pipeline committee oversight
Shake-up at DOE power agency in Pacific Northwest
– AAA: $3 gas is ‘thing of the past’
– Energy secretary vows better federal-state ties
– Conservative group launches anti-carbon tax campaign
– Conservation vet steers wind industry through political storm


NEWS BITES:

FERC upholds nearly half-billion fine against Barclays, traders

Bloomberg reports:

Barclays Plc (BARC) and four of its former traders were ordered to pay a combined $487.9 million in fines and penalties by the U.S. Federal Energy Regulatory Commission, which had been investigating the company and the individuals for manipulation of U.S. energy markets.

The regulators upheld a penalties first proposed in November.

Gasoline futures surge

Reuters has the latest on a busy day in energy markets:

Brent crude edged higher on Tuesday as U.S. gasoline surged to four-month highs due to refinery problems during summer driving season and rising prices for ethanol credits.

A spate of refinery outages across the United States over the past week has helped push U.S. RBOB gasoline futures up nearly 15 percent so far in July, while government data showed demand rising faster than expected.

Click here for the whole story.


Please send tips and comments to Ben Geman, ben.geman@thehill.com, and Zack Colman, zcolman@thehill.com.

Follow E2 on Twitter: @E2Wire, @Ben_Geman, @zcolman