Oil & Gas
Oil Discovery in West Texas May Be Biggest Ever in USA
The US Geological Survey says a new survey shows an oilfield in west Texas dwarfs others found so far in the United States. The Midland Basin of the Wolfcamp Shale area in the Permian Basin is now estimated to have 20 billion barrels of oil and 1.6 billion barrels of natural gas. More information can be found here.
Congressional Review Act May Give President-Elect Trump the Chance to Nix Climate Change Regulations
President-elect Donald J. Trump and the Republican-controlled Congress could use the Congressional Review Act (CRA) to quickly roll back climate change regulations enacted by President Barack Obama. Under the CRA, Congress can pass a resolution disapproving major federal regulations within 60 legislative days of their release by a simple majority vote, and if the resolution is signed by the president, the regulation is nullified and the decision isn’t subject to judicial review.
Experts warn that the CRA is a blunt tool that’s been sparingly used because it can carry big political risks. More discussion can be found here.
Trump’s Vow to Bring Back Coal Gives Hope to US Regions
Coal-producing regions are cautiously optimistic President-elect Trump will relieve some of the pressures on the coal industry and will assist with a market rebound. More information can be found here.
Russians to Make Gold Out of Coal?
Iowa Republicans Ask Trump to Nix Waters of the United States Rule
On Monday, November 21, 2016, Iowa Republican lawmakers asked President-elect Donald J. Trump to scrap the U.S. Environmental Protection Agency and U.S. Army Corps Engineers’ contentious Clean Water Rule immediately upon entering the White House next year.
U.S. Sens. Chuck Grassley and Joni Ernst and Reps. Rod Blum, David Young and Steve King characterized the rule in their letter as an “economic assault” on manufacturing, agriculture and small businesses and as posing harm to the livelihood of Iowans, asking Trump to “do everything” within his power to stop the “harmful rule” within the first few days of his presidency. More information can be found here.