Daily on Energy: The latest in a pivotal week for oil – Birol warns OPEC+ economy is ‘very fragile’

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DAILY ON ENERGY: • IEA Chief Fatih Birol warns OPEC+ • Interior introduces methan waste rule for federal lessees • White House expecting little product from Chevron in Venezuela

BIROL WARNS OPEC+: The head of the International Energy Agency asked OPEC+ to take into account the “very fragile” state of the global economy, especially in developing countries, before ordering additional production cuts in December, urging the group of oil producers to tread carefully as they prepare to gather Sunday in Vienna.

Welcome to Daily on Energy, written by Washington Examiner Energy and Environment Writers Jeremy Beaman and Breanne Deppisch . Email jbeaman@washingtonexaminer.com or bdeppisch@washingtonexaminer.com for tips, suggestions, calendar items, and anything else. If a friend sent this to you and you’d like to sign up, click here. If signing up doesn’t work, shoot us an email, and we’ll add you to our list.

Proponents of more aggressive rules designed to incentivize the capture and sale or use of excess gas have argued that regulations would benefit producers, who are letting go of a valuable product, and consumers, who would in theory have access to more gas in the marketplace. National Security Council coordinator John Kirby again pointed to the several thousand approved applications for permits to drill currently on the balance sheets of federal lessees and said there “are plenty of opportunities for oil and gas companies to drill here in the United States."

U.S. businesses had installed nearly 19 gigawatts total of on-site and off-site solar capacity through June of this year. The number has doubled since 2019, when total capacity was 9.4 GW, according to SEIA’s Solar Means Business 2022 report. Goffman, whose nomination hearing was held back in May, previously served as chief counsel for the Democrats on EPW and also worked in the Obama EPA, where he helped craft the Clean Power Plan and other rulemakings that cracked down on pollution from coal plants.

 

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