Energy Update: Week of April 27

Friends,

It is hard to believe, but this week would already been the second round of the NHL playoffs and the end of the NBA season.  As well, Olivia and I would have been on another college visit over the weekend in Ohio.  Yet, instead, all I am doing is mopping the floors, painting and cleaning inside; and planting and gardening outside. 

Last week was crazy busy for me given the disarray in the oil markets and a few other items on HVAC and natural gas.  I expect this week will be similar.  To that end, my friends Zack Colman and Ben Lefebvre have an excellent article today in POLITICO that highlights most energy officials increasing skepticism of attempts by the Trump administration to come up with a workable plan to offer help to the struggling industry.  And Axios’ Amy Harder writes today in her column that reports of the death of the oil industry are, to quote Mark Twain, greatly exaggerated. Good stuff that is worth the read!!!

There are a bunch of oil/gas company earnings calls this week as well: BP, Noble, NuStar, Williams tomorrow; Marathon and Ovintiv (Encana) on Wednesday; Shell, ConocoPhillips and Cabot on Thursday; and Exxon, Chevron, P66 and TC Energy on Friday. As well, OPEC+ cuts are scheduled to go into effect on Friday as it is May 1^st.

The PPP reload took effect this morning.  I have a summary of the legislation below.  Stay tuned for more updates this week although they may be a little slower with less action in Congress this week.

Important events for the week include tomorrow’s Atlantic Council virtual fireside chat with FERC chair Neil Chatterjee, as well as an event in Cali where Sierra Club activists hold a briefing with study authors they hired at UCLA School of Public Health to write a report on the effects of residential gas appliances on indoor and outdoor air quality. As you can imagine, we and many others will disagree with their findings.

On Wednesday ASE, Johnson Control and others host a discussion of JCI’s global energy efficiency survey, NOAA holds online forum at 11:00 a.m. on lessons learned from the 2018-19 hurricane seasons with National Hurricane Center Director Ken Graham and DOE Assistant Secretary for EERE Dan Simmons holds its first Facebook Live broadcast at 1:00 p.m.

On Thursday at noon, WCEE hosts a virtual live briefing looking at COVID-19’s impacts to clean energy technologies and jobs with AWEA’s Bree Raum, SEIA’s Erin Duncan and Great Plains Institute’s Brad Crabtree, who is also Director of the Carbon Capture Coalition.  Then Friday, the Global CCS Institute holds webinar at 9:00 a.m. looking at opportunities for the CCS market and at 1:00 p.m., the University of Maryland's Center for Global Sustainability holds a virtual briefing of the EFI-sponsored report, Regional Clean Energy Innovation.

Finally, our new Bracewell partner Danielle Garbien was featured in this morning’s Bloomberg First Move saying while the renewables industry may suffer a slowdown due to coronavirus spread, the industry will continue to thrive long-term.  She says investor interest over the longer term will be stable and technological developments such as on-site storage will help drive innovation, keeping the industry resilient. 

I hope you got a chance to watch the final episode of the Showtime series, Homeland last night.  As far as series finales go, it was really good. That’s all for today, call with questions, stay safe & healthy and review our COVID-19 updates. 

Best,

Frank Maisano

(202) 828-5864

C. (202) 997-5932

 

FRANKLY SPOKEN

“We haven't identified any specific threats or segregation to the reliable operation of the bulk power system,". "That is attributable to decades of the industry preparing for catastrophe and disaster.”

John Moura, NERC's director of reliability assessment and performance analysis, in Last week’s report on the state of the electric grid during the Coronavirus pandemic.

ON THE PODCAST

CapCrude Talks Oil Challenges with AFPM – On this week’s Platts’ Capitol Crude Podcast, hosts Meghan Gordon and Brian Scheid speak with Derrick Morgan and Susan Grissom from AFPM. Morgan discusses the case AFPM members made to the White House against blocking foreign oil imports and why US refiners need some imported crude even while some are calling on the White House to impose tariffs or other trade barriers.  They also look at the rough economic conditions for US refiners right now as gasoline demand has been cut in half and the timeline for states lifting stay-at-home orders remains uncertain. Susan Grissom, AFPM's chief industry analyst, address how US refiners are retooling their yields to focus less on gasoline than they have in the past and how that could be a long-term shift.

NYT Podcast Talks Oil Glut – The New York Times Podcast The Daily talks about the glut of oil and challenges it has posed for the global market.  Host Michael Barbaro visits with NYT Houston correspondent and our long-time friend Cliff Krauss, who covers the industry and oil markets.

FUN OPINIONS

WSJ Editorial: Oil Companies Help Coronavirus Cause – In an editorial in The Wall Street Journal, the Board blasted anti-carbon activists for their attacks on oil companies during the Coronavirus pandemic.  “Perhaps they don’t know that hand sanitizer and personal protective equipment come from hydrocarbons synthesized by their arch-villain Exxon Mobil.  Exxon’s predecessor Standard Oil invented isopropyl alcohol (IPA), the key ingredient in disinfectants and hand sanitizer, in 1920. Its Baton Rouge chemical plant is now the world’s largest producer of IPA. While refineries have been throttled back, Exxon has ramped up IPA production by 3,000 tons per month, which is enough to produce 50 million four-ounce bottles of sanitizer.”  They also cited the irony of the state of New York turning to the Baton Rouge plant for critical supplies. “Gov. Andrew Cuomo should be grateful Exxon isn’t holding a grudge after the state’s four-year inquisition for allegedly deceiving itself about its climate impact, which finally ended last December when a state judge tossed the state lawsuit as entirely without merit.”

FROG BLOG

O&G Blog: Energy Operators Will Weather The Coronavirus –

Although markets are current in turmoil, API’s Len Smith says America’s natural gas and oil producers – especially those using hydraulic fracturing and horizontal drilling – are resilient and remain financially viable, supported by the world’s need for energy. Contrary to some narratives, our industry is poised to fuel renewed growth once the U.S. and other nations get past the COVID-19 crisis. Natural gas and oil have and will again power modern economic expansion.  Most analysts continue to underscore the long-term importance of our energy resources. Crude oil maintains its fundamental value, and the U.S. and world economies still require natural gas and oil to power the products and processes that make modern life possible. America’s natural gas and oil industry will meet the world’s essential energy needs. When the coronavirus pandemic is behind us and the need for affordable, reliable and cleaner energy returns, this industry will be prepared to deliver the fuels to power the future.

Innovation, Technology Driving Emissions Reductions – Southern Company Gas CEO Kim Greene and AGA head Karen Harbert wrote Friday in a LinkedIn post while climate change is a challenging issue for our world and nation, the natural gas industry is doing their part to reduce emissions through smart innovation, new and modernized infrastructure, and advanced technologies that maintain reliable, resilient and affordable energy service choices for customers. This month, EPA published its annual Inventory of U.S. Greenhouse Gas Emissions and Sinks, covering the period between 1990 and 2018. As with past years, this year’s Inventory demonstrated a continued decline in methane emissions from natural gas distribution systems.  In that same time frame, annual distribution system emissions declined 73%, while the natural gas system grew significantly to keep up with demand. Natural gas utilities added more than 760,000 miles of pipeline to serve 20 million more customers. Across the country, natural gas utilities continue to add one new customer every minute because Americans demand the comfort, affordability and reliability that natural gas delivers – and they trust us to fuel their homes in an environmentally conscious way.

IN THE NEWS

EIA Report Shows COVID Impact on Demand – For fear of stating the obvious, EIA reports Coronavirus restrictions caused US petroleum consumption to fall to an average 13.8 million barrels per day in the week through April 10 -- its lowest level on record -- although demand recovered slightly to 14.1 million bpd in the following week, according to the Energy Information Administration. Gasoline demand has been the most affected, down 40% from mid-March to 5.3 million bpd in the week through April 17, while distillate consumption declined by 20% over the same period.

NERC Says Power Grid Holding Up Strong – The North American Electric Reliability Corporation in a report Thursday said power grid is holding up fine given most of the nation doing almost all of its work remotely. NERC said while things are good, electric utilities still have staffing and supply chain challenges, while battling increased efforts to prevent cyberattacks on your Zoom calls and remote logins. They also raised a concern about power plants that missed their scheduled maintenance may have to shut down unexpectedly this summer.

Ohio Mayors Urge RFS Waiver to Protect Union Jobs – Two Ohio cities are joining the calls of several oil states for the EPA to lower biofuels mandates under the Renewable Fuel Standard, as refiners struggle with dramatically depressed demand for fuel amid the coronavirus pandemic. The mayors of Toledo and Oregon asked EPA Administrator Andrew Wheeler in recent letters to lower the requirements for conventional biofuels to below 10% and reduce the advanced biofuels mandate to “no greater than last year’s actual domestic production” of such fuels. The officials say the cost of RFS compliance

DOE Nuclear Report Set Pathway for Leadership – The DOE released its Strategy to Restore American Nuclear Energy Leadership report outlining a number of activities to renew our nation’s nuclear energy capabilities. This comprehensive strategy includes policy recommendations on Executive, Congressional, and regulatory actions that could be taken to enhance the positive attributes of nuclear power, revive capabilities of the uranium mining, milling, and conversion industries, strengthen U.S. technology supremacy, and drive U.S. exports, while assuring consistency with U.S. nonproliferation objectives and supporting national security.

What It Says – The DOE Nuclear strategy recommends:

• Taking immediate and bold action to strengthen the uranium mining and conversion industries and restore the viability of the entire front-end of the nuclear fuel cycle.
• Utilizing American technological innovation and advanced civil nuclear RD&D investments to consolidate technical advances and strengthen American leadership in the next generation of civil nuclear technologies.
• Ensuring that there will be a healthy and growing nuclear energy sector to which uranium miners, fuel cycle providers, and reactor vendors can sell their products and services.
• Taking a whole-of-government approach to supporting the U.S. nuclear energy industry in exporting civil nuclear technology in competition with state-owned enterprises.

The strategy recognizes that the credibility of the U.S. non-proliferation regime depends upon the viability and the health of a robust civilian nuclear energy industry and technology leadership position and the “world-leading standard” embodied by the U.S. nuclear safety regulatory structures.

 

Other Voices –  

In order for the United States to have a viable nuclear energy industry and actually compete with countries like China and Russia, who are charging ahead, we need to step up. Expanding the global reach of American energy requires a robust strategy that includes government-backed financing and diplomatic agreements. The Department of Energy’s report outlines the comprehensive approach we need, building on initial steps taken in research and providing a pathway for demonstration and deployment,”

Senate Energy Chair Lisa Murkowski

The report shows strong support for maintaining domestic fuel cycle capabilities, and we encourage Congressional action to create a uranium reserve as outlined in the report and the president’s fiscal 2021 budget request. Support for the development of next-generation technologies and advanced fuels, which is emphasized in the report, will drive innovation across the industry and keep America competitive in this strategic sector. And the administration plans bold steps to address challenges faced by U.S. nuclear companies as they compete against state-owned enterprises in Russia and China. Actions to bolster export financing, strengthen export coordination and open new markets to U.S. firms will enable the U.S. to foster 100-year relationships through nuclear energy exports and technology cooperation.

 NEI CEO Maria Korsnick

“The administration has taken the wise, long view that a strong nuclear fuel supply industry will not exist without thriving, growing demand for that fuel, in the U.S. and abroad. Supporting R&D, demonstrations of moonshot technology, and robust American exports will create new clean energy market opportunities for American innovators -- while maintaining competitiveness against China and Russia.”

Rich Powell, ClearPath

 

Covid Update

We start with an update on the House’s passage and the President’s signing of an interim COVID-19 relief package, in addition to providing an outlook on future stimulus efforts – including additional discussions today regarding potential relief for the oil and gas sector.

The PPP Is Replenished For Now

• House passage. Yesterday, the House passed the Paycheck Protection Program and Health Care Enhancement Act with overwhelming bipartisan support—388 yeas, 5 nays, and 1 present.
• President’s signature. President Donald Trump signed the bill into law during an Oval Office ceremony this afternoon.
• Key provisions. The final bill contained the components that we have previously reported, namely $310 billion for additional Paycheck Protection Program (PPP) loans, $60 billion for Economic Injury Disaster Loan (EIDL) programs, $75 billion for hospital relief, and $25 billion for COVID-19 testing, among other provisions.
• Implementation. According to PPP author Senator Marco Rubio (R-FL), the Small Business Administration (SBA) will begin processing loans Monday morning.
  • The Senator tweeted this morning, “#PPP UPDATE: PPP should be relaunching Monday morning. It will include not just the $310 billion @potus will sign today, but also an additional significant amount of money from #PPPloans being returned by several publicly traded large companies.”
  • With President’s signing of the bill this afternoon, the White House Office of Management and Budget (OMB) will be able to sign off on the funds transfer.
    • SBA will not re-open its portal until the entire amount is in the agency’s account.
    • Once enacted, the law will provide an additional $250 billion to the PPP lending pool at large, and another $60 billion divided between two tiers of smaller institutions.
    • It is not entirely clear how these separate pools will work, mechanically.
      • As currently constructed, the E-Tran loan portal makes no distinction.
      • Many community banks have been participating all along and would be able to draw from both.
  • Note. While the law enacted today authorizes an additional $310 billion for PPP loans, it appropriates $321.3 billion, which has led to some confusion and inconsistent reporting.
    • The additional $11.3 billion will go to cover origination fees and other anticipated costs, allowing the full $659 billion ($349 billion + $310 billion) to cover loan guarantees and, ultimately, forgiveness.
• New PPP guidance. Separate from the interim relief bill, this morning Treasury released additional guidance on the PPP in the form of an Interim Final Rule on Requirements for Promissory Notes, Authorizations, Affiliation, and Eligibility.
  • Eligibility. Notable clarifications for affiliation rules include:
    • Hedge funds and private equity firms are deemed to be ineligible.
      • This was never in doubt, based on underlying SBA rules, but recent news cycles and negative attention likely precipitated a more explicit clarification.
    • Private equity portfolio companies are to apply SBA affiliation rules “in the same manner as any other business subject to outside ownership or control.”
      • This clarification comes after weeks of speculation that such rules might be waived.
      • The IFR further states that otherwise-eligible portfolio companies should “carefully review” the required certification related to the necessity of the loan.
    • Companies who are themselves, or whose owners are, debtors in bankruptcy proceedings are ineligible.
      • “…[P]roviding PPP loans to debtors in bankruptcy would present an unacceptably high risk of an unauthorized use of funds or non-repayment of unforgiven loans.”
  • Safe Harbor. The guidance also codifies a limited “safe harbor” for companies that return PPP loans by May 7, 2020.
    • “Any borrower that applied for a PPP loan prior to the issuance of this regulation and repays the loan in full by May 7, 2020 will be deemed by SBA to have made the required certification in good faith.”
    • This safe harbor in the interim final rule ups the ante from a related FAQ update released yesterday which addressed whether larger companies were eligible for PPP loans.
    • Notably, the FAQ sent an unmistakable signal to public companies to steer clear:
      •  “It is unlikely that a public company with substantial market value and access to capital markets will be able to make the required certification in good faith, and such a company should be prepared to demonstrate to SBA, upon request, the basis for its certification.”
      • The suggestion of potential SBA audit weeks into the program’s launch, with nothing in the statute and little in the way of other guidance, raised significant questions and concerns among larger recipients, and the safe harbor is meant to address these concerns.
• Tick tock. While recent guidance has been oriented around pushing back against ugly headlines, borrowers and potential-borrowers are still waiting on any guidance with respect to forgiveness.
  • The initial IFR requires 75 percent of PPP funds to be spent on payroll costs to be eligible for forgiveness, but leaves virtually everything else to future guidance.
  • With more than 1.6 million loans approved and most of the funds out the door, this guidance is needed immediately for borrowers to proceed with any certainty.

What The Future Holds

• Bill in context. This interim relief bill represents the fourth legislative package constructed by lawmakers to respond to the economic and human toll of the unfolding COVID-19 pandemic. In broad terms:
  • Phase One. The first phase of stimulus provided an emergency injection of funds to Federal agencies to address what was then a nascent global health crisis.
  • Phase Two. The second phase established paid leave policies for certain employers and accompanying tax credits, in addition to expanding nutritional assistance and funding the medical response to COVID-19.
  • Phase Three. The third phase, the CARES Act, sought to manage an induced economic coma, providing direct cash payments to individuals, expanding unemployment insurance, throwing small businesses a lifeline via PPP and EIDL, funding lending facilities for sector- and industry-wide relief, retooling the tax code to provide businesses with a cash infusion, and providing substantial funds for government, health care, and educational institutions.
    • See: Bloomberg’s reporting on how the Trump Administration has distributed $881 billion, so far, of the CARES Act.
• CARES 2. While early discussions about a Phase Four COVID-19 bill have entertained measures as varied as infrastructure spending and clean energy tax credits, the next bill is shaping up to be closer to a “CARES 2,” as House Speaker Nancy Pelosi (D-CA) dubbed it. In contrast to the passage of the first CARES Act, the second iteration is unlikely to be enacted in the same swift fashion. During CARES 1, lawmakers faced a perilous economic landscape amid the backdrop of a rapidly developing public health crisis that forced lawmakers to retreat from Washington, DC. While the economic situation remains fraught, with ugly jobs numbers becoming a weekly staple, the current moment lacks the same forcing mechanism to “jam” either chamber. While external forces have a way of imposing themselves with little warning, the current dynamic means the debate over a Phase Four package will likely be more partisan and drawn-out.
  • GOP Caution.
    • Senate Majority Leader Mitch McConnell (R-KY) has tapped on the brakes on the next phase of stimulus, indicating that he wants to wait and assess the implementation of current programs before proceeding with additional deficit spending.
    • House Minority Leader Kevin McCarthy (R-CA) echoed McConnell’s cautious approach, saying “We have not seen the effects of all this money going out… The states are going to have money coming to them already. Let’s see what’s working, what needs more help. And let’s craft a bill based upon knowledge, data.”
    • Democrat priorities. Speaker Pelosi and Senate Minority Leader Chuck Schumer (D-NY) have already begun working on Democrat demands for a Phase Four package. Democratic asks are likely to include at least the following elements:
      • Additional aid to state and local governments.
      • Social safety net expansion, including unemployment benefits and nutritional assistance.
      • Expanded workplace safety protections for front-line workers.
      • “Heroes Fund” to provide hazard pay to front-line workers.
      • Additional health care funds.
      • Additional direct payments to individuals.

Oil and Gas Relief

As we reported in our last two updates, the Trump Administration has begun compiling plans to aid the embattled oil and gas industry. While these measures remain ambiguous, as the Administration struggles to find solutions it can implement via executive action, some elements have begun to come into focus.

Notably, Treasury Secretary Steven Mnuchin told Bloomberg that he is considering providing a lending facility for the industry:

• “One of the components we’re looking at is providing a lending facility for the industry….We’re looking at a lot of different options and we have not made any conclusions.”
• As mentioned yesterday, Treasury still has roughly $250 billion in untapped funds allotted from the CARES Act that can be used in conjunction with the Federal Reserve to provide liquidity with the Secretary’s broad discretion.
• Some oil companies may run into trouble tapping existing lending facilities as rating agencies downgrade their credit.
  • For these companies, Mnuchin said he is discussing “alternative structures with banks.”
  • A recent letter from oil-state Senators to Mnuchin and Federal Reserve Chairman Jay Powell noted that two corporate credit facilities stood up by the Federal Reserve use March 22, 2020 as the relevant date for credit-worthiness in the initial term sheets.
    • While March 22 is the date the Federal Reserve announced the facilities, it hits oil and gas companies particularly hard, as it reflects a snapshot amid a devastating, weeks-long price war between Russia and Saudi Arabia.
    • The Senators suggest changing the date to allow companies to qualify under their prior credit rating.
• Democrats have expressed opposition to any support for the oil and gas industry.
  • Senator Ed Markey (D-MA) and Representative Nanette Barragán (D-CA) penned a letter to Chairman Powell, saying bailing out the industry “would be short-sighted misuse of taxpayer resources.”
  • Chairman of the House Energy and Commerce Committee Frank Pallone (D-NJ) said, “I refuse to put the American people on the hook for rescuing oil companies from a crisis that they themselves had a hand in creating.”
• The vast majority of CARES Act funding is not industry-specific.
  • With the notable exception of airlines and unspecified national security companies, the law goes out of its way to provide sector-neutral relief.
  • The most likely outcome remains allowing hard-hit energy companies to access the same liquidity facilities as everyone else, even if it means creating new ones with terms that can accommodate the industry’s circumstances.

ON THE SCHEDULE THIS WEEK

MOST EVENTS SCHEDULED ARE NOW ONLINE WEBINARS

NAS to Look at Energy Issue for Air Force – The National Academies of Science hold a three-day virtual workshop starting today to gather data on energy challenges and opportunities for future data-driven operations in the Air Force.

Forums to Look at Water Sampling – The Water Research Foundation holds an online session today at 3:00 p.m. on wastewater sampling, molecular genetics tools, use of indicator concentrations to estimate disease prevalence, and how to communicate this information. Research teams around the world are currently exploring the potential utility of environmental surveillance of indicators of COVID-19 in sewersheds for identifying the presence of COVID-19 cases in communities. The Virtual International Water Research Summit on Environmental Surveillance of COVID-19 Indicators in Sewersheds will convene a select group of world-renowned researchers and water leaders to further advance this work and accelerate progress toward informing community health decision making. A closing session will be held Thursday.

Forum to Look at PGE, CA Energy Impacts – Tonight at 7:30 p.m. ET, Stanford holds a webinar on causes and consequences for California’s energy future with the second PG&E bankruptcy.  Stanford Woods Institute for the Environment Director of the Climate and Energy Policy Michael Wara addresses the topic.

USEA Holds Annual Meeting, Forum – POSTPONED TO JUNE 25^th – The US Energy Assn holds its annual meeting and Public Policy Forum in June now.  The event brings together USEA members and energy stakeholders, including Administration officials, thought leaders, lawmakers, diplomats and journalists to discuss the latest energy policy developments, share industry updates, and celebrate the achievements of the United States Energy Award and United States Energy Volunteer Award.

JHU Webinar/Report on Sustainable Road Projects – The Johns Hopkins SAIS holds a webinar tomorrow at 10:00 a.m. to launch the report on Decision-Making on Belt and Road Projects. A new report from ISEP at Johns Hopkins University, the Blavatnik School of Government at the University of Oxford, and the ClimateWorks Foundation seeks to better understand how sustainability considerations do and do not enter into decision-making around BRI projects. The report is based on in-depth elite interviews with regulatory agencies, policy banks, NGOs, and state-owned enterprises in China, and seeks to unpack BRI’s decision-making processes by revealing divergent preferences, incentives, and bureaucratic capacity of various related actors. Policy recommendations on how to green the BRI are made based on these findings. The webinar will present the report’s key findings and provide a forum to discuss their implications with key stakeholders.

Webinar Looks at Power Markets, COVID-19 – S&P Global Platts holds webinar tomorrow at 11:00 a.m. on the power markets’ response to COVID-19.  Speakers will look at current impacts and possible recovery.

Forum to Look at Mitigation Deterrence – Tomorrow at noon, the Institute for Carbon Removal Law & Policy holds its latest webinar on Mitigation Deterrence. In this webinar Nils Markusson, Duncan McLaren, and Rebecca Willis of Lancaster Environment Centre at Lancaster University UK will present results from a project called “Assessing the Mitigation Deterrence effects of Greenhouse Gas Removal technologies”. This webinar will explore examples of MD, give quantitative estimates of the risk of MD, and look into the causes of MD. The speakers will also report from deliberative workshops on MD, and based on this spell out implications for policy and research.

Sierra Club to Release Study on NatGas Use in Homes – Tomorrow at 12:30 p.m., the Sierra Club activists in California hold a briefing with a study authors they hired at UCLA School of Public Health to write a report on the effects of residential gas appliances on indoor and outdoor air quality and public health in California.

IEEFA to Hold Webinar on US Coal Outlook 2020 – The Institute for Energy Economics and Financial Analysis (IEEFA) holds a webinar tomorrow at 1:00 p.m. looking at the outlook for the coal sector in 2020.  Well before the coronavirus struck and rocked the global economy, the U.S. coal sector was in a state of significant decline. The impact of COVID-19 has only exacerbated and accelerated this underlying trend.  IEEFA discusses the latest research and developments that point to an industry in crisis.

PJM Event to focus on MOPR, Carbon Pricing – Tomorrow in the afternoon, ELI and PJM host a roundtable on state clean energy policies/resources in the wake of FERC’s MOPR Decision and potential carbon pricing in PJM service region.  Speakers include PJM CEO Manu Asthana, Maryland PSC Chair Jason Stanek, RFF’s Karen Palmer, former DOE official Sue Tierney and our friend Rob Gramlich.

Chatterjee to Address Power Markets, COVID – The Atlantic Council holds virtual discussion with FERC Chairman Neil Chatterjee tomorrow at 2:00 p.m. on COVID-19 and the U.S. energy system. Chatterjee will discuss how the US power sector is adjusting to a world where electricity consumption patterns are rapidly changing and where domestic energy markets are facing increased uncertainty as the nation adjusts to a prolonged period of COVID-19 shutdown.

Enviro Justice Groups Look at COVID, EPA Dereg – Environmental Justices representatives from the Union of Concerned Scientists, National Wildlife Federation, and other groups participate in a webinar tomorrow at 4:00 p.m. on how EPA’s recent deregulation order connects to the COVID-19 crisis. The panel will highlight why it compounds existing climate risks faced by environmental justice communities. The session will provide an opportunity for participants to identify solutions to inequity while preparing for climate change.

Energy Forum Set for CO – POSTPONED UNTIL May 4, 2021 – The Colorado School of Mines, Colorado State University, University of Colorado-Boulder, and National Renewable Energy Lab are hosting the 9^th annual 21^st Century Energy Transition Symposium at the Embassy Suites in Downtown Denver tomorrow and Wednesday.  Over 65 speakers (in 20 different sessions) from various expertise and backgrounds covering environmental challenges & solutions through collaboration with industry from multiple sources of energy.  Hear from keynote speakers including Colorado Governor Polis, ARPA-E Director Lane Genatowski, Tri-State CEO Duane Highley and many more.  

Webinar to Look at Cities, Resilience – The World Resources Institute holds a webinar on Wednesday at 9:30 a.m. looking at how cities can rebuild in a more resilient, inclusive, environmentally ways.

Webinar to Look at JCI EE Survey – On Wednesday at 10:00 a.m., the Alliance to Save Energy, Johnson Controls and the EE Global Alliance hold a webinar on the results of JCI’s 2019 Global Energy Efficiency Indicator survey. This webinar will focus on the results of Johnson Controls' 2019 Global Energy Efficiency Indicator survey, which tracks current and planned investments, key drivers, and organizational barriers to improving energy efficiency in facilities. The COVID-19 crisis provides the specific context for this webinar: With reference to historical EE Indicator Survey data, Clay Nesler will explore what the surveys revealed about companies’ priorities during the economic recovery from the 2009 recession; in the context of the 2019 data, he will then discuss what these historical lessons can teach us about what may come next.  EEGA Panelists Jeff Eckel of Hannon Armstrong, Joyce Henry of Natural Resources Canada, He Ping of Energy Foundation China, and Monica Frassoni of the European Alliance to Save Energy will provide regional perspectives on the survey and discuss how the results can inform the EE community’s actions to accelerate national and global economic recovery.

NOAA Holds Lessons Learned Forum on Recent Hurricane Seasons – NOAA holds online forum Wednesday, 11:00 a.m. on lessons learned from the 2018-19 hurricane seasons with National Hurricane Center Director Ken Graham. Dr. Mike Brennan, Hurricane Specialist Unit branch chief will present updates to NHC’s products and services for 2020.

Whitehouse, Curbelo Featured in CERES Webinar – CERES hosts a webinar on Wednesday at Noon on climate change and financial impacts on companies, investors and even financial markets overall. As US financial regulators play ever larger and consequential roles in buttressing the economy in light of the ongoing COVID-19 pandemic, their role in keeping in mind how climate change fits into their responsibilities and the climate impacts of their actions is more important than ever.  In this session, participants will assess how climate risk fits into the current mandate of key federal financial regulators, evaluate current actions being taken by US financial regulators and legislators on climate change and explore what U.S. financial regulators can—and should—do to integrate climate change into their prudential and supervisory roles.  Speakers include Sen. Sheldon Whitehouse and former FL Rep. Carlos Curbelo and former Fed Governor and former Deputy Treasury Secretary Sarah Bloom Raskin. 

JHU Forum to Look at Vehicle Fleet Electrification – The Johns Hopkins SAIS program holds webinar on Wednesday at 12:30 p.m. commercial fleet electrification in the U.S. and internationally. Robert Gurman, Managing Consultant at Proenergy and Johns Hopkins SAIS '82, will discuss this emerging sector of the electric vehicle landscape.

CPS Exec to Discuss COVID Resilience – On Wednesday at 12:30 p.m., the Women’s Council on Energy and the Environment (WCEE) hosts a virtual live briefing by Paula Gold-Williams, President& CEO of CPS Energy, the nation's largest gas and electric municipal utility. Gold-Williams will provide an up-to-date account on how CPS Energy is maintaining power reliability and restoration, control center operations, workforce safety, cyber- and physical security, and positive customer experiences during the COVID-19 crisis. CPS Energy began addressing these issues in January and now has a remarkable record of utility industry best practices and service.

DOE’s Simmons to Hosts Facebook Live Event – DOE Assistant Secretary for Energy Efficiency and Renewable Energy (EERE) Daniel R Simmons will hold EERE’s first Facebook Live broadcast Wednesday at 1:00 p.m.

Webinar to Look at Net-Zero Commitments – On Wednesday at 1:15 p.m., the Center for Climate & Energy Solutions holds a webinar on implementing net zero commitments. Session speakers will discuss their transition to a low-carbon economy through operationalizing commitments such as reducing energy demand, procuring renewables and purchasing offsets, as well as the many lessons learned along the way.

Aspen Forum to Discuss Resilience – On Wednesday at 2:00 p.m., the Aspen Institute hosts an on-line discussion of its series “Innovators in Resilience.”  The event will feature Melissa Roberts, Executive Director of the American Flood Coalition, in conversation with Greg Gershuny, Executive Director of the Aspen Institute’s Energy and Environment Program. Roberts will discuss how the U.S. can most effectively prepare and respond to two disasters at once: COVID-19 and flooding related to the upcoming hurricane season.

EPA Webinar Focused on PFAs – The EPA holds a webinar Wednesday at 2:00 p.m. on water treatment modeling tools for removing PFAS and other contaminants. The Safe and Sustainable Water Resources (SSWR) Research Program hosts this webinar series to share current research activities and research results. Through innovative science and engineering, EPA’s researchers are developing cost-effective, sustainable solutions to 21st century complex water issues. The scientific results and innovative technologies developed support EPA’s mandate to protect the chemical, physical, and biological integrity of our Nation’s water resources, and to ensure safe drinking water and water systems.

Webinar to Look at Carbon Strategies – The Atlantic Council Global Energy Center hosts its new online series: EnergySource Innovation Stream on Wednesday at 2:30 p.m. for a conversation with Dr. Jennifer Holmgren, Chief Executive Officer of LanzaTech. Jennifer will describe how carbon can be recycled into valuable and sustainable new products through LanzaTech’s new CarbonSmart strategy. Building off the Global Energy Center’s EnergySource blog and soon-to-be-announced EnergySource podcast, Innovation Stream highlights new energy technologies with the potential to reshape the global energy system through discussions with companies and individuals working diligently to bring those innovations to market at scale.

Call to Discuss State Energy Program Challenges – The National Association of State Energy Officials holds a conference call Wednesday at 3:00 p.m. on states’ difficulties meeting the federally required 20% cost-match for the State Energy Program as states face new and anticipated budget restrictions as a result of COVID-19. SEO Directors from Florida, Tennessee and Texas will share insights on how their offices meet the SEP cost-match requirements, and facilitate a discussion on creative ways states may meet cost-match moving forward.

CSIS Forum to Look at Grid Modernization – The Center for Strategic & International Studies holds a webinar on Thursday at 10:00 a.m. looking at grid modernization. The webinar will examine the innovation occurring with grid modernization, including physical infrastructure, grid management software, and efforts by all actors to increase the resilience and security of the grid.  Speakers include Juan Torres of the NREL and Amit Ronen of office of Sen. Maria Cantwell.

Webinar Looks at Energy Transition – Rystad Energy holds another webinar on COVID-19 and the energy transition Thursday at 10:00 a.m. Jarand Rystad will share their view on the ongoing situation and how they see it effecting the energy transition.

UHouston Climate Series Looks at Climate Speech Liability – The University of Houston holds a webinar on the responsibilities and liabilities of climate speech on Thursday at 11:30 a.m. featuring Bracewell partner and UH Law professor Tracy Hester. There are legal ethics questions that arise from statements made - and statements not made. This webinar will focus on discussions around what scenarios may look like as the courts of public and legal opinion converge on this most challenging topic.

RFF to Host Review of Decarbonizing – On Thursday at Noon, Resources for the Future (RFF) will host a webinar, “Net Zero by 2070: Decarbonizing Global Industry,” with the study’s coauthors. The interdisciplinary team of experts has found that it is possible—and critical—to bring industrial GHG emissions to net zero by 2070. Their comprehensive study, published last month in Applied Energy, assesses the range of technologies and policy interventions available to enable global industry decarbonization. This RFF Live event will feature presentations from the panelists, as well as a discussion on the technologies, innovation areas, and policies that can help achieve net-zero industrial emissions.  Speakers include Christopher Bataille of Simon Fraser University, Energy Innovation’s Jeffrey Rissman and Nan Zhou of the Lawrence Berkeley National Laboratory. 

Renewable Assns Discuss COVID, Clean Energy – On Thursday at 12:00 p.m., the Women’s Council on Energy and the Environment (WCEE) hosts a virtual live briefing looking at COVID-19’s current and anticipated impacts to clean energy technologies and jobs, as well as the potential policy options to get deployment of these energy technologies back on track.  Speakers include AWEA’s Bree Raum, SEIA’s Erin Duncan and Great Plains Institute’s Brad Crabtree, who is also Director of the Carbon Capture Coalition. 

Forum to Talk Energy Policy – Advanced Energy Economy (AEE) hosts a webinar on Thursday at 2:00 p featuring its in-house experts looking at the key components of legislation and PUC dockets and best practices for finding value in certain types of filings. 

NRC to Look at TVA Nuke Plants – The Nuclear Regulatory Commission holds virtual meeting Thursday at 2:00 p.m. to discuss safety performance of Tennessee Valley Authority’s Browns Ferry, Sequoyah, and Watts Bar nuclear power plants.

GreenBiz Analysts Look at COVID Impacts – Green Biz hosts a forum on Thursday at 2:30 p.m. on COVID Impacts. The four GreenBiz analysts covering these dynamic markets as they assess the state of play, and what to expect in the coming months.  Topics include the oil market, foodservice operations, venture capital and several other things. Speakers include Katie Fehrenbacher (VERGE Transport), Sarah Golden (VERGE Energy), Jim Giles (VERGE Food) and Lauren Phipps (VERGE Circular). 

Webinar to Look at CCS Market – The Global CCS Institute holds webinar on Friday at 9:00 a.m. looking at opportunities for carbon capture and storage deployment and near-term and longer-term developments in the CCS market. This seminar will explain how they see the opportunities for CCS deployment and provide an overview of the near-term and longer-term developments in the CCS market.

UMd to Host Regional Clean Energy Forum – On Friday at 1:00 p.m., the University of Maryland's Center for Global Sustainability holds a virtual briefing of the EFI-sponsored report, Regional Clean Energy Innovation. The webinar briefing will include a discussion on policy implications, how innovation compares across the 50 states, and what this all means for our clean energy future.  Participants will be taken on a deep dive into regional clean energy innovation potential across the US. In addition, the report's authors will highlight the report’s comparative analysis of Maryland and Colorado and offer lessons learned to help states justly transition local economies toward a clean energy future.

 

IN THE FUTURE

Webinar to Look at Energy Shocks – Next Tuesday, May 5^th at 10:00 a.m., the Johns Hopkins University School of Advanced International Studies hosts an on-line event exploring historical cases of energy shocks, from the 1973 oil crisis to the 2011 Fukushima nuclear disaster, to understand how governments respond and when they are likely to succeed in mitigating the crisis. Drawing on these lessons, Speaker Michael Akin will discuss the long-term impacts of the coronavirus response and strategies for a more sustainable and resilient future.

WRI Webinar Looks at 1.5 Target – The World Resources Institute holds a webinar on May 5^th at Noon on limiting temperature rise to 1.5 Degrees and the roles for investors, companies and policymakers. In this session, participants will explore how major asset owners decided to commit to net-zero portfolios, compare corporate strategies to set and meet ambitious carbon reduction goals and evaluate the critical role of policymakers in enabling deep carbon emissions reductions.

Webinar to Look at Corporate Risk of Climate – CERES hosts a webinar on Tuesday May 5^th at Noon on systemic risks if global temperatures rise above 1.5℃, investors, companies and policymakers have begun making commitments to net-zero carbon emissions by 2050.  In this session, participants will explore how major asset owners decided to commit to net-zero portfolios, compare corporate strategies to set and meet ambitious carbon reduction goals and evaluate the critical role of policymakers in enabling deep carbon emissions reductions.  Speakers include WRI’s Cynthia Cummis, Illinois State Treasurer Michael Frerichs and Jeff Hanratty of General Mills. 

Bracewell to Host Environment Seminar – Bracewell hosts a virtual environmental webinars on Tuesdays in May.  The first is May 5^th and features EPA Region 6 Administrator Ken McQueen.  Other topics include May 12: PFAs and Energy Tax Outlook, May 19: Dealing with Project Opposition, May 26: Water, Air, NEPA Rulemaking.

Web Event to Look at EV Integration – The Women of Renewable Industries and Sustainable Energy will host an on-line forum next Tuesday May 5^th at 2:00 p.m. electric vehicles and their potential to integrate with renewable energy. This webinar panel will focus on the current state of the electric vehicle market, including programs and policy tools to encourage EV drivers at times that are optimal for the grid. The webinar will share the perspective of charging network providers, automakers, utilities, and utility regulators.  Our friend Carrie Sisto of the Cal PUC joins the speakers with Ford’s Julie Mitchell and Erika Myers of Transportation Electrification. 

USEA to Preview Fall CCS Roadshow – On Wednesday, May 6^th at 11:00 a.m., the US Energy Assn holds a webinar through ZOOM to preview its five full-day CCUS roadshows scheduled for New Orleans, Houston, Sacramento, Chicago and New York later this year. This one-hour webinar will provide an update on how the dramatic changes in oil demand are affecting demand for CO2 and the future outlook CCUS projects. Each speaker will give their perspectives on the status of and prospects for CCUS, then the moderator will have a series of questions for the speakers to engage in a discussion. Speakers include former DOE official Charles McConnell now UH’s Carbon Management Executive Director. 

Conservatives Talk Climate at Ceres Webinar – Ceres hosts a webinar on Wednesday May 6^th at Noon featuring Conservative voices discussing efforts to pass climate legislation and our political systems effectively require bipartisan cooperation to enact major policies.  In this session, participants will discuss the conservative case for clean energy and climate action, build a better understanding of the universe of conservative efforts on climate and clean energy policy advocacy and explore specific examples of conservative policy engagement.  Conservatives for Clean Energy Mark Fleming, Citizens for Responsible Energy Solutions head Heather Reams and Corey Schrodt, Legislative Director for Rep. Francis Rooney (FL-19) will speak. 

State Look at Climate Challenges – Ceres hosts a webinar on Wednesday May 6^th at Noon looking at State climate innovations and collaborations.  Speakers include VA DEQ’s Chris Bast, Julie Cerquiera of US Climate Alliances, CO Gov Jared Polis’ Energy advisor Zach Pierce and Mass DEP Commissioner Martin Suuberg, Chairman of RGGI.

CA Conferences Set – The 8^th Annual California Energy Summit is being held on May 6^th to 8^th in the LA Grand Hotel Downtown.  It will feature top regulatory officials, utility and public power leaders, and developers to discuss the state-wide implications of wildfire mitigation measures, incentives that can drive deployment of self-generation and storage to enhance resilience, near-term resource adequacy and long-term SB100 procurement needs of CCAs, public power and IOUs and the expansion of interstate energy trading and transmission buildout needs. 

CERES Looks at Power Industry, Oil/Gas – CERES hosts two webinars both at Noon this week looking at industry decarbonization.  On Tuesday May 12^th, they will discuss the electric power industry and its transition to cleaner power.  On Thursday, the webinar will look at decarbonizing the oil industry.  Both panels are a little light on real experts though as only Exelon is on the power industry panelist and there are no oil companies or gas industry groups featured on Thursday’s webinar.

AEE Holds Eastern Policy Conference – Advanced Energy Economy holds its second annual Eastern Regional policy conference in Annapolis on May 21^st.  The event features business leaders and policymakers exploring legislative and regulatory paths to scaling advanced energy markets in electricity and transportation, in states and nationally.  Speakers will include Alison Cassady of the House Select Climate Committee, PJM’s Susan Riley and Michigan PSC Chair Sally Talberg. 

Clean Power Conference Set – CANCELLED – The first annual AWEA CleanPower Conference will be in Denver on June 1^st to 4^th. 

DC Oil/Gas Forum Set – The 6^th Washington Oil & Gas Forum 2020 is set for June 10^th and 11^th at The Cosmos Club in Washington, DC.  The US leads global oil and natural gas production. U.S. shale revolution has reshaped the energy landscape in the United States and globally. The American Energy Revolution has delivered massive economic, environmental and geopolitical benefits. Today, the United States is the world’s top oil and gas producer and a leading energy exporter. The Washington Oil & Gas Forum is the foremost innovative and exclusive force for engaging oil and gas leaders in collaborative activities to shape the American and global oil and gas agendas.  Speakers include FERC Chair Neil Chatterjee, Sen Cruz, Reps. Randy Weber, Mike McCaul and Bruce Westerman.