Energy Update: Week of May 11

Friends,

Here’s hoping everyone enjoyed their Mother’s Day.  Of course, I was again gardening…and missing the PGA Championship, which would have been this week.  Some good news on the sports horizon though it seems.  Bundesliga soccer in Germany is starting next week without fans, the PGA holds a couple of special live events this weekend and MLB owners gave the go-ahead today to making a proposal to the players’ union that could lead to the baseball season starting around July 4^th weekend in ballparks without fans.  I will add, with the French Open announcing that they will postpone until September, the second half of year is setting up to pack in a bunch of great sporting events in a short period of time.

The Senate is still in this week continuing its effort to confirm nominees.  The House is expected to return to Capitol Hill perhaps as early as this week, but that remain uncertain, to consider a fourth coronavirus relief package (see COVID Report below).  The highlight this week will be the Senate HELP Committee hearing featuring Anthony Fauci, CDC director Robert Redfield, Assistant Secretary of Health Brett Giroir and FDA commissioner Stephen Hahn, who will all testify via videoconference.

It is a busy week on the oil side as demand starts to recover.  While prices slipped a little this morning, we still have seen gains so far this month. API’s weekly inventory data will be released tomorrow while DOE’s weekly figures are due Wednesday. OPEC releases its monthly market report Wednesday, with the International Energy Agency doing the same Thursday.  Finally, read this Bloomberg piece today on how the car is staging a comeback as people worry about travelling on public transportation.  As you know, this is a point I have been raising with many of you about what might spur oil demand return.

Tomorrow through Thursday, the Financial Times, in partnership with TNW, will gather the global decision makers in policy, business, tech and finance for three days of online conversations with top FT journalists, analyzing the impact of the pandemic across global economies.

Other events include Senate Judiciary Committee holds a hearing tomorrow at 2:30 p.m. focused on liability during the pandemic (LET ME KNOW IF YOU ARE COVERING); House E&C’s Health Subcommittee holding a hearing at 10:00 a.m. on protecting scientific integrity during the COVID-19 Response and Friday at 2:00 p.m., Princeton’s Jesse Jenkins is on Clean Energy States Alliance webinar where he will argue that, although wind, solar, and batteries will be star players in a deep-decarbonization strategy, reaching zero emissions cost-effectively will require completing the low-carbon team with one or more “firm” low-carbon resources.  It is similar to an approach pitched by EIRP and Reps. McKinley and Schrader.

Finally, this afternoon, our friends at NRDC sued EPA over its recent hydrofluorocarbon rule.  After a longstanding losing Court battle, this is just another reason to make sure widely-supported, bipartisan legislation being pushed in the Senate and the House is finally passed. Samantha Slater, AHRI Sr. VP of Government Affairs said:

"Today’s lawsuit by NRDC is emblematic of the pervasive lack of regulatory certainty regarding HFCs, with the U.S. HVACR industry and the millions of American jobs it represents caught in the crossfire. American innovation has outpaced existing regulatory standards, and swift enactment of federal HFC legislation is needed to put the United States on a clear pathway toward an orderly transition to next generation refrigerant technologies."

We are trickling closer to unofficial beginning of Summer: Memorial Day weekend.  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

“Current circumstances probably match the intended purpose of that [RFS] waiver provision as well as it ever will.”

University of Illinois agriculture economist Scott Irwin tweeted a few weeks ago on Governor’s requesting RFS waivers

“For the first couple of weeks in April, demand seems to have stabilized around 55%. But now we’re starting to see demand pick back up already. On a seven day average, it’s about 64% of normal. So already, about a 9% increase of where we were kind of early April.”

Gary K. Simmons, Valero’s chief commercial officer providing some demand statistics on its conference call last Wednesday.

“As long as the country is gripped by the fear of significant personal family trauma and grinding months of unemployment, that's what Congress is going to focus on. I think we are going to be in emergency policy subsistence for the rest of 2020.”

Jason Grumet, president, Bipartisan Policy Center, in Amy Harder’s recent Axios Column about the prospect of Green energy policies being front and center in any American COVID recovery.

ON THE PODCAST

RFF Talks CCS with Former DOE Official – On this week’s RFF’s Resources Radio, host Daniel Raimi talks with Julio Friedmann, a senior research scholar at Columbia University’s Center for Global Energy Policy, as well as a former principal deputy assistant secretary for the Department of Energy’s Office of Fossil Energy. A leading advocate for expanding carbon capture, utilization, and storage (CCUS) technologies, Friedmann contends that prominent concerns about the viability, affordability, and safety of CCUS do not stand up to scrutiny. Elaborating on his recent research, Friedmann argues that a variety of policies could be leveraged to spur broader deployment of CCUS.

FUN OPINIONS

Barrons: Refiners Are Key to Oil’s Rebound – In a Barron’s piece, Avi Salzman writes US oil prices have jumped 99% in just the past week, an incredible performance that has made energy a top performing sector after months of underperformance.  He says while there are several reasons for this – OPEC and its allies cutting production, US firms cutting back – but perhaps the most important reason is that refiners have started to see gasoline demand rise, the first and most important sign that the U.S. economy will once again need oil products.

Dominion Customers Getting Hit for Clean Energy Goal – In an interesting Utility Dive opinion piece, Todd Snitchler, President and CEO, Electric Power Supply Association says Dominion's nearly $50 monthly power bill hike in Virginia is a warning for other states who are pushing Clean energy goals.  Snitchler writes as policymakers in states including New Jersey, Maryland, and Illinois consider exiting PJM Interconnection's capacity market to pursue clean energy goals, “they should look to Virginia as a cautionary tale. Alternatives such as the Fixed Resource Requirement (FRR) come with stark consequences for power customers and questionable environmental gains.” 

FROG BLOG

Eberhart: TX Railroad Commission Blocks Production Cuts – In a column in Forbes, Canary Oilfield Services company CEO and Trump donor Dan Eberhart focused on the Texas Railroad Commission’s recent decision to reject forced production cuts.  Eberhart said, “Texas has massive oil resources and some of the most innovative players in the sector. Despite the current challenges, intervention in investment decision by state regulators would cause more harm than good and could ultimately undermine the state’s status as top producer. With this in mind, the Texas Railroad Commission should reject calls for a bailout.

IN THE NEWS

Senators Urge Trump to Reject Waiver Requests – Following requests from seven governors to waive the RFS because of the economy challenges the refining industry faces because COVID19-driven demand loss, 24 ethanol-state Senators led by Iowa’s Joni Ernst and Minnesota’s Tina Smith – both up for re-election – urged President Trump to reject the RFS Waivers.  Of course they did. 

Refiners, Unions Push Back -- The Fueling American Jobs Coalition pushed back saying the Senators’ acknowledges the fundamental premise of why RFS waivers should be granted to the states that requested them.  FAJC says the Senators claim that the RFS ‘cuts reliance on foreign fuels,’ yet the logic of their own letter points to exactly the opposite conclusion. The letter concedes that 46% of capacity has been idled during the current crisis. If the overall renewable volume obligation (RVO) is nevertheless held steady, the RFS will simply be converted into an import mandate. The inevitable result without the waivers: that 4 billion gallons above domestic ethanol production would have to be imported into the United States from foreign sources, turning both energy security and climate arguments inside out.

Congress Trading Letters over Oil, Gas Renewables – Congressional supporters and opponents of oil and gas are trading letters over support for the Industry with a handful of Democrats urging no support for the industry, even introducing legislation to prevent it, while Republicans urged President Trump to pressure banks that are no longer fund coal developments or oil drilling operations in places like the Arctic. More than 40 lawmakers are backing a bill that would block fossil fuel companies from receiving coronavirus-related aid and inhibit the Trump administration from helping the industry in other ways. Led by Rep. Nan Barragán and Sen. Jeff Merkley, the legislation's introduction comes on the heels of the Federal Reserve loosening its criteria for its Main Street Lending Program in a way that could help the industry acquire government funding.  To counter that Democratic legislation, 36 Republican lawmakers are urging President Trump to use all tools at his disposal to prevent the nation’s biggest banks and investors from withholding financial support for fossil fuel projects.

Wind Construction Continues Strong Move – The American Wind Energy Association’s (AWEA) newly released Wind Powers America First Quarter Report 2020 says the US had a record 24,690 megawatts worth of new wind capacity under construction in 1Q, up 1% from the previous quarter. Another 19,751 MW worth of projects are in the late stages of development, positioning the industry to add a total of 44,441 MW of new capacity in the near-term. The wind industry also installed over 1,800 megawatts (MW) of new wind power capacity in 1Q.  Eleven new wind projects totaling 1,821 MW became operational during the first quarter, enough to power 560,000 American homes and more than double the installations from the first quarter of last year. Texas led the country with 540 MW of new wind projects installed, followed by Iowa, Illinois, and South Dakota. There are now 107,443 MW of operating wind power capacity in the United States, with nearly 60,000 wind turbines operating in 41 states and two U.S. territories.

Oil Companies Cutting Production Quickly – North American oil companies have cut production faster than expected and are on track to cut roughly 1.7 million barrels per day by the end of next month According to an analysis of U.S. state and company data,. The Organization of the Petroleum Exporting Countries and allies agreed to output cuts of 9.7 million bpd for May and June, but some members expressed skepticism that non-OPEC+ nations like the United States and Canada could muster cuts of that magnitude from private companies with no state mandate.

COVID UPDATE

Today’s note provides an update on the House Democrats’ coalescing Phase Four/CARES 2 package. The key take away: no House vote is likely this week, although we should get a first glimpse at the legislative text.

Phase Four/CARES 2 State of Play

• The House homes in on a bill. House Democrats are currently assembling and fine-tuning their version of a Phase Four/CARES 2 disaster relief bill, with hopes of releasing legislative details in the coming days. Given what we know about the nascent proposal, it will be received coolly in the White House and the Senate. Why then are Democrats crafting legislation that will surely be dismissed by Republicans as a nonstarter? Here are some likely explanations.
  • Rank and file pressure. After earlier phases of stimulus emerged from a leadership-centric process, rank and file House democratic lawmakers want their voices heard and reflected in this next phase of relief.
    • The CARES Act in particular left a bad taste in the mouth of House Democrats, as the Speaker and the chamber was largely absent from the process, forcing them to swallow whatever the Senate sent over. Consequently, the Phase Four/CARES 2 bill is likely to read as an enumeration of stalwart progressive policy ideas.
  • Messaging. Democrats want to lay down a marker of their priorities, and use that to draw a contrast with the Republican COVID-19 response. With less than six months until the November election, this tension is likely to be a central aspect of the campaign at both the Presidential and Congressional level.
  • Negotiating posture. With no legislative forcing mechanism on the immediate horizon, unlike previous phases, CARES 2 will be an iterative process, with neither side willing to be jammed. The House bill will serve as an opening bid, and in staking out the left flank, even a partisan wish list serves to establish the center of gravity for a broader deal moving forward.
• Pelosi’s Message: “Think Big” for the People. In a Dear Colleague letter to House Democrats late Sunday, House Speaker Nancy Pelosi (D-CA) laid out her vision:

Americans also agree that we owe our heroes in the fight against coronavirus an enormous debt of gratitude – our health care, first responders, teachers, transit, food and other essential workers who risk their lives to save lives and who could now lose their jobs.  To do that, we must act boldly to support state and local entities to address coronavirus-related outlays and lost revenue.

We all agree that we must put more money in the pockets of the American people.  This is not only necessary for their survival but also is a stimulus to the economy.  Direct payments, unemployment insurance, rental and mortgage help and student loan assistance are essential to relieve the fear that many families are facing.

The Chair of the Federal Reserve Bank has told us to “Think Big” because interest rates are so low.  We must “Think Big” For The People now, because if we don’t, it will cost more later.  Not acting is the most expensive course.

• Top Democratic priorities for Phase Four/CARES 2. Our update from last week provides more granular analysis of these and other Democratic priorities, but it is worth reiterating that Speaker Pelosi and other Democratic leaders have homed in on the following elements as essential in any relief package:
  • increased aid for state and local governments,
  • money for hospitals and COVID-19 testing,
  • expanded SNAP benefits, Medicaid funding, and Unemployment Insurance,
  • funding for the Postal Service,
  • money to expand broadband access,
  • paid sick leave expansion,
  • hazard pay for health care workers, and
  • direct individual payments (in lieu of the bi-cameral push for a federal program to pay the salaries of certain workers).
  • Notable absences. The House bill will not include liability protections for businesses, a top priority for Senate Leader Mitch McConnell (R-KY) and his fellow Republicans.
    • The package will also leave aside recovery-oriented priorities sought by various industries, from tax breaks to broad-based infrastructure funding.
      • President Donald Trump has made taxes a red line, telling Fox News, “We’re not doing anything without a payroll tax cut.”
• Bill timing. While text of the Democratic initiative could be released as early as tonight, it is more likely to materialize on Tuesday.
  • Any text is not final. Given the large number of Democratic lawmakers seeking to fold their priorities into this bill, it is subject to change even upon release.
• Hurry up and wait (on the Senate). Leader McConnell, as we have noted in previous updates, intends to hold steadfast to his wait-and-see approach, hesitant to proceed with another round of stimulus before assessing the efficacy of the previous phases.
  • PPP funding no longer a forcing mechanism. When Paycheck Protection Program (PPP) loans were being doled out at a torrid pace, a third round of funding was seen as a plausible forcing mechanism for the Senate to consider another relief bill. However, recent reports from the Small Business Administration show that this is no longer the case; the rate of PPP lending has slowed to a trickle, pending clearer guidance, looser rules, and certainty on audit exposure. Absent legislative changes, this is unlike to pick back up in the immediate future, opening the possibility that current levels will sustain the PPP through its statutory terminus. This development makes immediate term action unlikely, and removes a key point of leverage for Democrats seeking to lure Republicans to the negotiating table.
  • New legislative horizon: July 1. While recent months have shown that events have a way of interceding, the default deadline will be the end of June, which marks both the close of the PPP program and the fiscal year for most states. This provides a convenient intersection of partisan priorities, while allowing the White House and Senate Republicans to get beyond their current posture of taking account of CARES Act spending and its effects. The White House this weekend indicated a break in talks, saying they won’t engage in formal negotiations until late May or early June.
    • “We’re kind of paused as far as formal negotiations go,” Larry Kudlow, the director of the White House’s National Economic Council, told reporters on Friday.
• What to expect moving forward.
  • Votes likely slip to next week. This morning, House Majority Leader Steny Hoyer (D-MD) announced that the House would not return until Friday at the earliest. Given that Leader Hoyer has indicated that members would have 72 hours’ notice to return to DC, this timeline allows a narrow window for introduction on Tuesday. Given safety concerns within the caucus and broader lack of urgency, coming back to vote on a Friday seems like a stretch. We expect introduction by mid-week, with votes to follow the next.
  • From the Majority Leader:

Members are advised that conversations surrounding additional CARES legislation and a Rule change related to remote work are ongoing.

Members are further advised that pending introduction of legislation, it is possible that the House may meet this week, no earlier than Friday, May 15, 2020.

Members will be given 72-hours' notice of when they would need to return to Washington, DC.

Further information will be provided as soon as it becomes available.

 

ON THE SCHEDULE THIS WEEK

MOST EVENTS SCHEDULED ARE NOW ONLINE WEBINARS

Webinar Talks to States on Clean Energy – The Clean Energy States Alliance (CESA) holds a webinar today at 3:00 p.m. that will provide an overview of the goals and activities that 14 states plus the District of Columbia have undertaken to achieve 100% clean electricity. David Hochschild of the California Energy Commission will discuss California’s 100% clean energy goal, how other states could benefit by adopting a similar goal, and what steps California has been taking towards achieving this goal. Alicia Barton of the New York State Energy Research & Development Authority (NYSERDA) will discuss the New York perspective on its 100% clean energy goal and describe the steps it has taken to implement it.

FT to Host Global Leadership Conference – Tomorrow through Thursday, the Financial Times, in partnership with TNW, will gather the most senior global decision makers and leading minds in policy, business, tech and finance for three days of online conversations with top FT journalists, analyzing the impact of the pandemic across global economies, industries and markets, and outlining what is required to shape the optimal conditions for recovery at this most challenging of times.  Al Gore and Tony Blair among the speakers and our friend Barney Jopson.

Forum to Look at Russia, Energy/Foreign Policy – The Center for European Policy Analysis (CEPA) holds a virtual discussion tomorrow at 10:00 a.m. to consider the relationship between oil prices and Russian foreign policy.  The event will also look at the lessons of the 1980s and if they are relevant today, as well as what role will the coronavirus play in factoring into Russia’s foreign policy calculus. 

POWER Hosts Webinar with ISO Experts – POWER magazine hosts a webinar tomorrow at 11:00 a.m. looking at market insights for its Spring Report. This session will include specific examples from various regions and examine how they apply to other parts of the country. The discussion will cover how renewables are affecting the market, how plant closures are upsetting grid operation, what macro impacts are being felt by companies and at plants, and how COVID-19 has disrupted operations. Experts from Midwest ISO, ECOT, Southwest Power Pool and NY ISO will offer insights.

CERES Looks at Power Industry, Oil/Gas – CERES hosts two webinars both at Noon this week looking at industry decarbonization.  Tomorrow, 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.

Bracewell to Host Environment Seminar – Bracewell hosts a virtual environmental webinars on Tuesdays in May.  Last week, we hosted EPA Region 6 Administrator Ken McQueen.  Tomorrow, we feature a discussion on PFAs with Anna Burhop and an Energy Tax Outlook with PRG Tax Expert Tim Urban. Future events include May 19: Dealing with Project Opposition, May 26: Water, Air, NEPA Rulemaking.

Senate Judiciary Looks at COVID Liability – The Senate Judiciary Committee holds a hearing tomorrow at 2:30 p.m. focused on liability during the pandemic, an emerging issue in stimulus talks as lawmakers consider shielding companies from lawsuits. Last week, 60 House Democrats wrote a letter to leadership asking them to "categorically oppose any attempt to confer immunity on the fossil fuel industry or to limit its liability for the damages it causes to people or property"

CCS Report to Be Released – The Global CCS Institute will hold a webinar on Wednesday at 9:00 a.m. to introduce its upcoming report on the value of carbon capture and storage (CCS). This report aims to inform the discussion on the value of CCS by providing an overview of recent analyses published on the topic and completed by the Global CCS Institute. During this webinar, the authors of the report will present the major benefits of the large-scale investment and deployment of CCS and discuss the existing evidence related to the value of CCS under two overarching themes.

Report to Look at Energy Tech Commercialization Efforts – On Wednesday at Noon, the Information Technology and Innovation Foundation (ITIF) holds a webinar for the presentation of a new report setting forth a vision and design for non-profit Energy Technology Commercialization Foundation (ETCF) by ITIF senior fellows Jetta Wong and David Hart. The report draws on more than 140 interviews and two full-day stakeholder workshops as well as extensive documentary research.  ETCF, authorized by Congress to work closely with the U.S. Department of Energy would help fill this gap. Building on precedents set by the diverse array of agency-related foundations that Congress has authorized since 1967, ETCF would foster collaboration between innovators inside and outside DOE as they pursue globally-scalable solutions to clean energy challenges.

Resources Dems Talk COVID, Environment, Tribes – The House Natural Resources Committee Democrats hold another virtual events Wednesday at Noon to discuss the fallout from the COVID-19 pandemic, with sessions focused on the environment and impacts to tribal nations.  Of course, these meeting continue to raise the hackle of ranking member Rob Bishop who says they Committee actions that blocking out Committee Republicans.

Forum to Look at Green COVID Recovery – The Johns Hopkins University Paul H. Nitze School of Advanced International Studies hosts a webcast tomorrow at 12:30 p.m. on a green recovery coming out of the COVID19 pandemic.  European Commission Executive Vice President for the European Green Deal Frans Timmermans speaks.

Wilson to Host Web Event on Resource Management – The Wilson Center’s Environmental Change & Security Program, in partnership with USAID’s BRIDGE project, hosts the second panel in a three-part virtual series Wednesday at 1:00 p.m. to hear from researchers and practitioners on lessons learned and entry points for action in the integration of biodiversity conservation, governance, public health, and food security.

Energy to Host Wind Integration Forum – DOE hosts a webinar on Wednesday at 1:00 p.m. featuring an international panel of wind energy science and technology leaders for a webinar on the challenges, opportunities, and interdisciplinary collaboration necessary to drive the innovation needed for continued wind energy expansion.  A group of researchers and scientists from around the world documented the remaining grand challenges in wind energy research, highlighting the need to better understand atmospheric physics where taller turbines will operate, the materials and manufacturing constraints associated with the scale-up, and the systems approach needed for plant optimization and grid integration.  Speakers include NREL’s Paul Veers, DOE WET office director Robert Marlay, Charlie Smith of the Utility Variable-Generation Integration Group, GE Renewable Energy’s Danielle Merfeld, and Julie Lundquist, University of Colorado’s Dept. of Atmospheric and Oceanic Sciences.

Aspen to Look at India Policy Sector – The Aspen Institute hosts a Virtual forum on Wednesday that features a conversation on the role of innovation in India’s energy transition with Varun Sivaram, fellow at Columbia University and former CTO of ReNew Power. Sivaram has spent the past several years working in India at the country’s largest renewable energy company and will share his perspective on why India represents the world's most critical energy transition and how clean energy innovation--in India and in the United States--can help the country slash its carbon emissions. Through his extensive experience in the corporate, academic, and public sectors, he provides a unique multidisciplinary lens for the path forward on clean energy.  TVA’s Paul Barnett speaks. 

Forum to Look at Innovation – On Wednesday at 2:00 p.m. via Zoom, the Atlantic Council Global Energy Center hosts the next installment of EnergySource: Innovation Stream, where they highlight 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.  This event feature Babur Ozden, founder and chief executive officer of Maana, on how digital knowledge technologies can boost energy companies’ value and profitability.

House E&C Health Panel to Look at Science, COVID – The House Energy and Commerce Committee’s Health Subcommittee holds a hearing at 10:00 a.m. on protecting scientific integrity during the COVID-19 Response.

ASE EE Forum to Look at Digital Transformation – The Alliance to Save Energy’s Digital Climate Alliance holds a webinar on Thursday at 10:00 a.m. on the next EE Global series looking at climate crisis lessons learned from the COVID-19 crisis and the digital transformation of corporations.  This panel will discuss the role of digital tools have played in helping flatten the curve with the pandemic response and how it could help flatten the climate crisis curve, as well.  Among those speaking is our friend Anna Pavlova formerly of Schneider Electric.

Forum to Look at Energy, Turkish Impacts – The Atlantic Council in TURKEY holds an on-the-record webinar at 10:00 a.m. on Thursday looking at the impact of COVID-19 on the global energy sector and reflections on Turkey.  The panel will discuss how the COVID-19 crisis is affecting the energy sector, forecast how the sector will respond as the world moves into the recovery phase and reflect on the implications to Turkey.

POLITICO Reporters Look at Oil Markets – On Thursday at 11:00 a.m., POLITICO hosts another Pro COVID-19 Briefing on energy and oil markets featuring moderator Matt Daily, energy editor for POLITICO Pro, and energy reporters Zack Colman and Ben Lefebvre.  The panel will discuss how oil-producing countries and companies are trying to bounce back from this crisis and what the pandemic means for the future of energy production.

Webinar to Look at Utility Planning – On Thursday at 2:00 p.m., Utility Dive host a webinar on Thursday to look at planning in the post-pandemic world.  For utilities, ensuring investment plans are keeping pace with the needs of customers and infrastructure is always a key area of focus. However, COVID-19 is impacting utilities’ ability to do work now and into the future. This creates uncertainty around budgets, load profiles and service delivery. As we navigate through this unprecedented situation, utilities have an opportunity to advance their organizations’ planning capabilities, while building resiliency and agility to meet the challenges ahead.

Wilson Forum looks at Brazilian Amazon – On Thursday at 3:00 p.m. the Wilson Center’s Brazil Institute holds a conversation on the impact of COVID-19 on deforestation and sustainability in the Brazilian Amazon, and the implications this could have for us all. Izabella Teixeira, Brazil’s former Minister of the Environment will speak. 

Web Event Focused on Iran Challenges – The Atlantic Council’s Iraq Initiative and Global Energy Center hosts an online event on Thursday at 3:00 p.m. to discuss Iraq faces many energy challenges in addition to the health, security, economic, and political crises the new government must address and more with Iraq’s outgoing Electricity Minister H.E. Dr. Luay Al-Khatteeb. Atlantic Council Iraq Initiative Director Dr. Abbas Kadhim will moderate the discussion.

Jenkins to Look at Clean Energy, Deep Decarb – The Clean Energy States Alliance hosts a webinar on Friday at 2:00 p.m. looking at the findings and perspectives of leading states focused on achieving 100% clean energy. Our friend Jesse Jenkins, Andlinger Center for Energy & Environment professor at Princeton University, will summarize research on deep decarbonization of the electricity sector and the portfolio of solutions needed to reach that goal at an affordable cost. He will argue that, although wind, solar, and batteries will be star players in a 100% carbon-free electricity sector, reaching zero emissions cost-effectively will require completing the low-carbon team with one or more “firm” low-carbon resources.

IN THE FUTURE

Atlantic Forum to Discuss COVID Report – Next Monday at 8:00 a.m., the Atlantic Council releases a report on the criminal exploitation of refined petroleum products. In recent years, downstream oil theft has become a lucrative global criminal industry, posing manifold economic, security, environmental, and social threats that must be effectively addressed. This report examines concrete countermeasures, legal and policy measures, and regional and international measures that can combat downstream oil theft and prevent its revenues from funding far more nefarious activities, including terrorist attacks as well as trafficking in drugs, weapons, and persons. Expert panelists Dr. Ian Ralby, Dr. David Soud, and Terzah Tippin Poe will discuss the report’s conclusions, including the most effective countermeasures and what countries have seen success in their efforts to combat oil and fuel theft.

NRC to Look at Carolina Nuke Plants – Next Monday at 2:00 p.m., NRC hosts a virtual forum to discuss the 2019 safety performance of the Catawba, McGuire, and Oconee nuclear power plants. The two-unit Catawba and three-unit Oconee plants are located in South Carolina and the two-unit McGuire plant is located in North Carolina. The three plants are operated by Duke Energy.

WRI Look s at Science Targets for Climate – Next Tuesday, May 19^th at 9:00 a.m., the, the World Resources Institute hosts a webinar that will share a summary of feedback on the Science Based Targets initiative’s  (SBTi) draft target validation criteria, a central component of the framework that creates a framework for financial institutions to set science-based climate targets in line with the ambition of the Paris Agreement. The SBTi collected feedback through a multi-stakeholder process, including consultation with an Expert Advisory Group, a series of in-person workshops in Europe and Asia and a public consultation period.

Forum to Look at COVID, Oil, Iran – Next Tuesday the Wilson Center hosts a panel COVID19 and Oil challenges in Iran.  The panel will cover the intersection of crises for the Islamic Republic, which was one of the original epicenters of the COVID-19 pandemic. The virus coincided with economic and political challenges that have created a perfect storm for Tehran. Economically, the price of oil has plummeted this year due to a global glut.

GW Looks at Kirkuk, Oil – The George Washington University’s Institute for Middle East Studies hosts a virtual fireside chat next Tuesday, May 19^th at 3:30 p.m. looking at Oil and the making of modern Kirkuk.  Kirkuk is Iraq's most multilingual city, for millennia home to a diverse population and where it struck oil in 1927.  Over the following decades, Kirkuk became the heart of Iraq's booming petroleum industry. City of Black Gold tells a story of oil, urbanization, and colonialism in Kirkuk - and how these factors shaped the identities of Kirkuk's citizens, forming the foundation of an ethnic conflict.  Experts discuss its past and future. 

WRI to Host Forum on Sustainable Dev Methods – The World Resources Institute holds a webinar on Wednesday May 20^th at 9:00 a.m. to learn more about two ICAT methodologies. The ICAT Sustainable Development Methodology helps policymakers and other users systematically assess multiple environmental, social and economic impacts of policies and actions. A representative from Costa Rica will also share the country's experience with assessing sustainable development and transformational change impacts of their climate policies and measures. 

Forum To Feature Global CCUS Perspective – On Wednesday May 20^th at 11:00 a.m., Royal Norwegian Consulate General in New York and Dynamo Energy Hub are hosting a panel discussion on the role of CCUS in building a clean energy future.   Our friend Amy Harder moderates a panel of global CCUS leaders that will share their perspectives.  DOE’s Amishi Kumar and IAE’s Mechthild Wörsdörfer are among the panelists. The panel of experts will discuss the essential CCUS technologies that are required for the success of the Paris Agreement, give an update on current projects around the world, and explore what role CCUS could play in the economic recovery in light of COVID-19.

EPA to Host PM Hearing – Next week on Wednesday May 20^th and Thursday May 21^st, EPA holds it virtual hearing that will review of the National Ambient Air Quality Standards for Particulate Matter.  EPA is proposing to retain both the primary and secondary PM standards, without revision.

RFF to Roll Out Global Energy Outlook – On Wednesday May 20^th at 11:00 a.m., Resources for the Future (RFF) will host “The Global Energy Outlook 2020: What Has Changed Due to COVID-19?” This webinar will coincide with the release of the 2020 Global Energy Outlook—RFF’s annual report that synthesizes global energy market projections and analysis from leading energy organizations and corporations—and an accompanying interactive web tool. The only such report of its kind, RFF’s 2020 Global Energy Outlook harmonizes analyses from other organizations to allow for a clear understanding and easy comparison of potential future energy markets, energy security scenarios, climate trajectories, and policy options at global, regional, and national levels.  Our friend Amy Harder moderates a panel of experts including RFF’s Dan Raimi and Richard Newell, former EIA head.

Experts Release Report on Energy Tech – On Wednesday May 20^th at Noon, the Information Technology and Innovation Foundation holds a webinar to release a new report about how the United States can build a robust energy technology demonstration portfolio. A panel of experts will assess leading proposals to better manage it.  Speakers include BPC’s Sydney Bopp and MIT’s John Deutch.

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. 

Forum to Look at Future of EVs – Utility Dive hosts a webinar on Thursday May 21^st at 2:00 p.m. looking at utilities support for future electric transportation.  As investments in electric fleets grow – and zero-emission electric commercial trucks hit the roadways – the spotlight is on electric utilities and how they can evolve to support electric transportation.  Black & Veatch’s Paul Stith, Daimler’s Rustam Kocker and RMI’s Michael Roeth will speak. 

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.