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September 19, 2012
1st Leg Of $68B Calif. High-Speed Rail Gets Feds' OK
The Federal Railroad Administration signed off Wednesday on environmental impact statements related to the first leg of California's planned $68.4B high-speed rail line, meaning construction on the controversial project could begin as early as next year, according to the California High-Speed Rail Authority.
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September 19, 2012
Port Authority Toll Hikes Key To Capital Projects: Reports
Controversial toll and fair hikes that the Port Authority of New York and New Jersey approved last year are key to funding capital projects for its network of bridges, tunnels and other regional transportation facilities, according to independent reports that the agency released Wednesday.
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September 19, 2012
FERC Won't Block Republican-Backed Hydropower Bill
A top lawyer at the Federal Energy Regulatory Commission told Congress on Wednesday that FERC wouldn't oppose Republican-backed legislation to bar it from collecting fees from hydropower projects on lands the federal government previously owned.
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September 19, 2012
Senate Bill Would Let States Take Lead On Local Fracking Issues
A Republican senator floated legislation Wednesday to give state governments control over how to regulate hydraulic fracturing within their borders by creating new checks against federal regulators like the U.S. Environmental Protection Agency.
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September 19, 2012
Enviro Sues NY To Access Fracking Plan Messages
The Environmental Working Group brought suit Monday in New York state court against Gov. Andrew Cuomo’s administration in order to gain public records that the nonprofit claims will detail the energy industry’s attempts to influence state regulation of high-volume hydraulic fracturing.
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September 18, 2012
LNG Study Delay Adds To Uncertainty For Export Hopefuls
The U.S. Department of Energy said Monday it was pushing back a long-awaited study on the impact of U.S. liquefied natural gas exports, a decision that could create new concerns for a handful of high-stakes LNG export projects awaiting approval.
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September 18, 2012
Canada-Japan Insurance Deal Tightens Energy Export Ties
Canada and Japan agreed Tuesday to provide credit risk guarantees for energy and mining export deals, a move attorneys say should unlock affordable trade financing and help connect a flood of new Canadian natural gas with waiting Japanese utilities.
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September 18, 2012
Dem Urges DOI To Block CNOOC-Nexen Oil Lease Transfer
A top Democrat on Tuesday called on the U.S. Department of the Interior to bar China National Offshore Oil Corp. from acquiring a set of royalty-free drilling leases in the Gulf of Mexico from Nexen Inc. in its $15 billion purchase of the Canadian company.
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September 17, 2012
DOE Nuke Fuel Contracts Could Cost Billions, GAO Warns
Taxpayers could face $19 billion in liabilities by 2020 as the U.S. Department of Energy reneges on contracts with nuclear operators to dispose of thousands of tons of spent fuel accumulating at their plants, the U.S. Government Accountability Office reported Friday.
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September 17, 2012
NY Greenlights Niagara Mohawk's Bid To Issue $1.6B In Debt
New York regulators said Friday that Niagara Mohawk Power Corp., owned by U.K.-headquartered National Grid PLC, can issue up to $1.6 billion in new, long-term financing to improve its debt picture and fund the construction of a new upstate plant.
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September 14, 2012
Obama Names K&L Gates Partner To DC Airport Authority
The White House announced Thursday that President Barack Obama will appoint two lawyers, including K&L Gates LLP litigator William Shaw McDermott, to the board of the Metropolitan Washington Airports Authority, the agency overseeing construction of the $5.6 billion D.C. airport rail extension that was recently labeled "dysfunctional" by U.S. Transportation Secretary Ray LaHood.
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September 14, 2012
GOP Reps. Pass 'No More Solyndras' Bill To Nix Energy Loans
The Republican-dominated House on Friday approved the "No More Solyndras Act," a bill that would pull the plug on the U.S. Department of Energy's much-maligned programs that have provided more than $30 billion in loans to dozens of renewable energy projects, some of which have gone bankrupt.
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September 14, 2012
EPA Raises Bar On Biodiesel Requirements
The U.S. Environmental Protection Agency on Friday hiked its alternative diesel fuel mandate for 2013 by more than a quarter, raising the total volume of biodiesel required in U.S. diesel fuel markets to 1.28 billion gallons.
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September 14, 2012
Calif. Senate Leader Sets Sights On Revamping CEQA
The California Senate leader on Thursday announced plans to hold several meetings in the coming months to consider overhauling the California Environmental Quality Act, a month after he abandoned a controversial proposal aimed at curbing lawsuits brought under the state's core environmental law.
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September 14, 2012
FERC OKs $3.5B Line To Carry Okla., Texas Wind Power
The Federal Energy Regulatory Commission has approved a $3.5 billion overhead line that will carry 3,500 megawatts of clean energy from western Oklahoma, Texas and Kansas to the southeastern U.S., project developers said Tuesday, kicking off service agreement negotiations with potential customers.
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September 13, 2012
Texas Agencies Grapple With Dodd-Frank Preemption Concerns
The heads of several Texas state agencies testified Thursday at a hearing before a state house committee that it largely remains to be seen to what extent the Dodd-Frank Wall Street Reform and Consumer Protection Act will present federal preemption conflicts.
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September 13, 2012
Alaska Breaks With Interior Over Oil Reserve Plan
Alaska Gov. Sean Parnell said Wednesday that the state government would withdraw from an agreement with the U.S. Department of the Interior to plan for oil and natural gas leasing on public land, claiming the agency had ignored the state’s input.
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September 13, 2012
Chinese-Owned Ralls Corp. Says US Blocked Wind Farm Deal
Ralls Corp., a U.S.-based company owned by two Chinese nationals, sued the U.S. Treasury's Committee on Foreign Investment in the U.S. on Wednesday for halting its acquisition of four Oregon wind farm companies for national security reasons, saying the committee overstepped its bounds.
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September 12, 2012
FTC Urges FERC To Ease Entry Into Ancillary Services Markets
The Federal Trade Commission on Wednesday said it has recommended that the Federal Energy Regulatory Commission lower its barriers for ancillary services companies to enter informal markets in electricity reliability, saying the move would increase competition.
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September 12, 2012
House Lawmakers Rally Behind Wind Energy Tax Credit
More than a dozen lawmakers urged their colleagues Wednesday to extend a popular federal incentive for wind energy development they say could preserve thousands of industry jobs in what could be a final push to vote on the measure before the election.
Expert Analysis
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High-Growth Markets: An Attractive M&A Option
Although high-growth market merger and acquisition activity in 2011 failed to sustain the spectacular growth it experienced in 2010, the looming threat of a double-dip recession in developed economies could push managers to swiftly seize high-quality M&A opportunities in high-growth markets in the near term, say attorneys with Skadden Arps Slate Meagher & Flom LLP.
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Bulking Up NERC's Reliability Authority
In response to a directive from the Federal Energy Regulatory Commission, the North American Electric Reliability Corporation has submitted for approval a revised definition of a bulk electric system. Expanding the scope of facilities that fall under the definition will automatically expand the scope of NERC’s reliability standards, say Nicholas Giannasca, Carlos Gutierrez and Elizabeth Stern of Blank Rome LLP.
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Recent Trends In Green Energy M&A
The financial turmoil that began in the summer of 2011, particularly in Europe, has raised concerns regarding the availability of financing in 2012. Recent discussions at the Infocast green energy mergers and acquisitions conference provide insight on potential financing sources, as well as emerging deal structure trends, says Jonathan Melmed of Chadbourne & Parke LLP.
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Inside The 2nd Circ. Stance In Naranjo And Figueiredo
In Chevron Corp. v. Naranjo and in Figueiredo v. Republic of Peru, the Second Circuit has issued two important rulings regarding the adequacy and enforceability of foreign forums and judgments. In particular, the Figueiredo decision threatens to inject significant uncertainty in arbitral confirmation proceedings, particularly in cases involving sovereign defendants, say James Berger and Charlene Sun of Paul Hastings LLP.
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Revised Removal Statutes — Possibilities, Pitfalls: Part 2
The Federal Courts Jurisdiction and Venue Clarification Act of 2011 has brought about substantial clarification in the federal removal, jurisdiction and venue statutes. But the act still leaves substantial ambiguity in place when it comes to the scope of these statutes, say Colin Wrabley and Douglas Allen of Reed Smith LLP.
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Ramping Up Calif. Renewable Energy
Despite the sluggish economy, the California Legislature provides hope for 2012 by supporting development of renewable energy projects and innovative environmentally green projects in California. The keystone of the Legislature’s commitment to “green development” is California’s Renewables Portfolio Standard, say attorneys with Bingham McCutchen LLP.
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Hearing Out Voices Of The Wetlands
Developers of thermal power plants in California should be aware of the California Supreme Court's decision in Voices of the Wetlands v. California State Water Resources Control Board, and the decision's potential implications on the timing and appeals associated with the California Energy Commission’s certification process, say Michael Carroll and Marc Campopiano of Latham & Watkins LLP.
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Authorizing The Export Of Liquefied Natural Gas
Domestic natural gas prices have fallen significantly, serving as the impetus behind an effort to export liquefied natural gas from the continental United States. Though competition in the domestic export market seems to be heating up, no domestically produced LNG has yet been exported from the lower 48 states, say Monica Hwang and Matthew Salo of King & Spalding LLP.
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Revised Removal Statutes — Possibilities, Pitfalls: Part 1
The recently effective amendments to the federal removal statutes resolve a circuit split, cure potential inequities, clarify various aspects of removal procedure and jurisdiction, avoid a lurking constitutional problem, and present litigators with significant tactical choices and opportunities, say Colin Wrabley and Richard Heppner of Reed Smith LLP.
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Expropriation Coverage For Feed-In-Tariff Projects
The Overseas Private Investment Corp. has developed expropriation insurance coverage for qualifying feed-in-tariff projects in response to adjustments of FIT programs and tariff rates that have resulted in increased costs for renewable energy projects. In Spain, for example, claims have been brought against the government for retroactive adjustments to that country's FIT program, says Deborah DeMasi of Nixon Peabody LLP.