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Governors' Wind Energy Coalition

October 20, 2022

Top Story

Biden Expands Effort to Secure U.S. Energy Independence

By Alan Rappeport and Ana Swanson, New York Times  •    •  Posted 2022-10-20 15:52:42

President Biden expanded his efforts on Wednesday to blunt the pain of rising gas prices and reduce America’s exposure to global energy markets, which have become more volatile because of provocative actions by Russia and Saudi Arabia. The administration announced $2.8 billion in grants to expand domestic manufacturing of batteries for electric vehicles and the electrical grid, one day after officials said that the United States would release millions of barrels of oilfrom the Strategic Petroleum Reserve and that Mr. Biden would consider additional withdrawals this winter. The moves highlight how energy security is now at the center of the Biden administration’s economic agenda, which has been derailed by soaring inflation and Russia’s war in Ukraine. Those concerns come at a perilous political moment, with midterm elections that will determine dynamics in Washington less than three weeks away. [ read more … ]

Grid

How a transformer shortage threatens the grid

By Peter Behr, E&E News  •    •  Posted 2022-10-20 15:53:41

A high-voltage grid transformer as big as a railroad boxcar sits on the loading dock of a factory here, ready to push power across transmission lines as an indispensable part of the nation’s electric grid. The Virginia Transformer Corp. will ship 550 of these transformers this year and expects to produce 665 next year from its plant here and three other North American facilities. But it is one of only eight companies in the United States able to manufacture the nation’s largest transformers — and deliveries have fallen way behind schedule amid the Covid-19 pandemic. [ read more … ]

Miden Administration

What Biden’s $2.8B EV battery boost means for jobs

By David Ferris, E&E News  •    •  Posted 2022-10-20 15:53:18

A blockbuster $2.8 billion investment the Biden administration unveiled Wednesday could start to create a real domestic supply chain for electric vehicles and extend the new “battery belt” into fossil fuel-loving states like Louisiana and North Dakota. But it will produce relatively few of those things that excite politicians most — jobs. [ read more … ]

Delayed methane rule rams into rising gasoline prices

By Jean Chemnick, E&E News  •    •  Posted 2022-10-20 15:53:56

The Biden administration has delayed releasing its proposed rule to reduce methane at oil and gas wells for weeks now. It comes as the president faces criticism for stepping up climate regulations on American energy companies even as he presses foreign suppliers to increase oil production. The timing of EPA’s draft methane rules for new and existing oil and gas facilities is colliding with rising gasoline prices weeks before midterm elections threaten to dislodge Democrats from power in the House and perhaps the Senate. The rules have been described by some Republicans as a new burden on the U.S. oil and gas industry, and its introduction now could feed the narrative that Democrats are waging war on domestic production even as they press foreign suppliers to increase production of fossil fuels. [ read more … ]

Markets

Biden’s use of oil reserves overshadows past presidents

By Adam Aton, E&E News  •    •  Posted 2022-10-20 15:54:14

The market used to shrug off tapping the Strategic Petroleum Reserve as a political stunt. Now, even critics of President Joe Biden are noting its impact on gasoline prices. The Biden administration is the first White House to repeatedly draw down the emergency oil stockpile over several months in an explicit bid to lower prices at the pump. At its peak over the summer, experts said, the releases likely shaved a few nickels and dimes off the price of a gallon of gas. [ read more … ]

Biden denounces Big Oil’s profits, urges permitting reform

By Robin Bravender, E&E News  •    •  Posted 2022-10-20 15:54:31

President Joe Biden blasted energy companies on Wednesday as he announced new policies aimed at lowering gas prices ahead of next month’s midterm election. “Bring down the price you charge at the pump to reflect what you pay for the product,” Biden said to energy companies during a White House press conference. “You’ll still make a significant profit. Your shareholders will still do very well, and the American people will catch a break they deserve and get a fair price at the pump as well.” [ read more … ]

EVs

E.V. Bonanza Flows to Red States That Denounce Biden Climate Policies

By Jack Ewing, New York Times  •    •  Posted 2022-10-20 15:52:19

Democrats pushed through climate change legislation this year that earmarked tens of billions of dollars to create a U.S. supply chain for electric vehicles. Republicans and the states they represent are poised to cash in on much of the political and economic windfall. For Republican members of Congress, none of whom voted for the climate law, it’s the best of both worlds. They can call the spending wasteful, while benefiting politically from the jobs and money that car and battery factories bring to their districts. [ read more … ]

Power Switch

By ARIANNA SKIBELL, Politico  •    •  Posted 2022-10-20 15:53:02

The initiative faces serious obstacles, including Chinese dominance of the clean energy supply chain and the fact that the technology relies on essential minerals available only in a few corners of the globe. But private developers are already pouring billions of dollars into the industry. And manufacturers and politicians — including congressional Republicans, who voted en masse against the climate law — are lining up to get in on the ground floor. “South Carolina is going to become the Detroit of batteries,” Sen. Lindsey Graham (R-S.C.) said during a BMW event announcing the German company’s $1.7 billion plan to build EVs in the United States. [ read more … ]

Note: News clips provided do not necessarily reflect the views of coalition or its member governors.