Project FinanceRSS

  • May 22, 2013

    Fracking Foes Demand Vote On Moratorium In NY

    A broad coalition of New York anti-fracking voices pressured proponents of an expansion of the controversial method of gas drilling Wednesday by calling on the Republican-controlled state Senate to allow a bill that would impose a roughly two-year moratorium to come up for a vote.

  • May 21, 2013

    Texas Passes Water Finance Plan, But Still Needs $2B Funding

    The Texas Legislature on Monday signed off on a revised plan to create a potential $2 billion fund to provide loans and bonds for major water infrastructure projects, but lawmakers are still awaiting votes on two key measures that would actually allocate money for the fund.

  • May 21, 2013

    New DOE Head Says Energy Efficiency Is Top Priority

    Newly confirmed Secretary of Energy Ernest Moniz told Department of Energy employees at his swearing-in ceremony on Tuesday that his top priority as head of the agency will be advancing clean energy projects and improving energy efficiency.

  • May 21, 2013

    $6.4B Philly Airport Expansion Inches Toward Takeoff

    The Philadelphia City Planning Commission on Tuesday signed off on two land acquisition bills key to a $6.4 billion expansion of Philadelphia International Airport, paving the way for a full vote by the City Council.

  • May 21, 2013

    White House Calls Keystone Bill A Bid To Skirt Obama

    The White House on Tuesday came out strongly against a U.S. House of Representatives bill that would speed up government approval of TransCanada Corp.'s controversial Keystone XL pipeline, insisting that President Barack Obama must have final say on whether or not the project goes ahead.

  • May 21, 2013

    Lawmakers Receptive To Industry Push For More LNG Exports

    Energy producers and industry groups told a receptive Senate committee on Tuesday that a critical opportunity for exporting liquefied natural gas markets will be closing soon and called for federal regulators to quickly approve pending export terminal projects.

  • May 20, 2013

    5 Problems The New DOE Chief Can't Ignore

    Ernest Moniz will be sworn in as U.S. energy secretary on Tuesday morning, officially putting the former Massachusetts Institute of Technology physicist at the center of fierce regulatory debates on everything from natural gas exports to nuclear waste. Here, energy attorneys offer Law360 the top five issues he'll be expected to address quickly.

  • May 17, 2013

    Revised Federal Fracking Rule Gives Industry Breathing Room

    While oil and gas operators may grumble about the Obama administration's revised hydraulic fracturing rule creating another layer of regulations, attorneys say the industry should be pleased that the current version strives for greater harmony with well-established state regulations and imposes less onerous requirements than the previous edition.

  • May 16, 2013

    Senate Confirms Moniz As Energy Secretary

    The U.S. Senate on Thursday overwhelmingly confirmed Massachusetts Institute of Technology physicist Ernest Moniz as the new energy secretary, with not a single senator casting a dissenting vote.

  • May 16, 2013

    DOI's Revised Fracking Rules Draw Heat From All Sides

    The Obama administration unveiled revised rules for hydraulic fracturing on public lands Thursday that environmentalists denounced as a cop-out to the energy industry, while oil and gas groups only offered tepid support due to concerns that the rules will overlap with state regulations.

  • May 16, 2013

    Pa. Rep. Proposes Natural Gas Tax To Fund Transportation

    A Pennsylvania state lawmaker unveiled a package of bills Wednesday that would fund transportation projects and infrastructure across the commonwealth by imposing a severance tax on natural gas extracted from the Marcellus Shale and closing a loophole allowing companies to shift certain taxable assets out of state.

  • May 16, 2013

    Christie Unveils $300M Plan To Buy Homes Hit By Sandy

    New Jersey Gov. Chris Christie on Thursday unveiled a $300 million buyout program that will use federal funding to purchase 1,300 homes that were devastated by Hurricane Sandy or lie in the flood-prone Passaic River basin from willing homeowners, creating open spaces that can ease future flood damage. 

  • May 16, 2013

    Australia Greenlights $23.6B In Infrastructure Spending

    The Australian government has approved roughly AU$24 billion ($23.6 billion) in transportation infrastructure spending over the next six years, bringing its total investment under an infrastructure program unveiled in 2008 to nearly AU$60 billion.

  • May 15, 2013

    Sens. Blast DOE Budget Over Nuclear Project Concerns

    Senate lawmakers on Tuesday grilled the acting secretary of the U.S. Department of Energy on the president's $28.4 billion budget proposal for the agency, demanding more details about an international nuclear research fusion project that could cost the government more than $3 billion.

  • May 15, 2013

    Water Projects Spending Bill Sails Through Senate

    The U.S. Senate approved a water resources law in an 83-14 vote Wednesday, sending the U.S. Army Corps of Engineers water projects spending bill to the U.S. House of Representatives for the first time since 2007 and clearing a Texas senator's amendment aimed at holding Mexico to water treaty obligations. 

  • May 15, 2013

    Bill Aims To Protect State Mineral Sales From Federal Cuts

    Lawmakers fuming over cuts to a minerals revenue sharing program floated legislation Tuesday that would allow royalty payments from energy projects on federal land to bypass the U.S. Treasury and go directly to states.

  • May 14, 2013

    Smaller Sandy Buyout Sparks Fears Over Future Storm Costs

    While buyouts for some New York homeowners smacked by Superstorm Sandy are still in the offing, the relocation program's scale has shrunk from the size initially envisioned by Gov. Andrew Cuomo, leading some environmentalists to lament the potential for a costly repeat of the hurricane's damage.

  • May 10, 2013

    Markey Says BP's Federal Contract Ban Should Stay In Place

    A leading House Democrat said Friday that BP PLC hasn't turned over information detailing how it misled Congress about the amount of oil released during the Deepwater Horizon disaster and urged regulators to keep the company's federal contracts ban in place until it adequately responds.

  • May 10, 2013

    Senate Moves Ahead With Water Infrastructure Bill

    Bipartisan legislation authorizing several major U.S. Army Corps of Engineers water projects moved a step closer to approval on Thursday, with the Senate adopting a handful of amendments and one of the bill's sponsors pledging to present a final version for vote in a matter of days.

  • May 9, 2013

    Bill Would Speed Up Natural Gas Pipeline Approvals

    U.S. Rep. Mike Pompeo, R-Kan., introduced a bill Thursday that would fast-track the federal permitting of natural gas pipeline projects, including automatically issuing a permit if the government doesn't act on its application within the accelerated timeframe.

Expert Analysis

  • DC Circ. Backs FERC's Approach To Return On Equity

    Michael Hornstein

    Recently, the U.S. Court of Appeals for the District of Columbia Circuit rejected Southern California Edison’s challenge to the Federal Energy Regulatory Commission's methodology for determining a company’s base return on equity. One noteworthy lesson from the case is that this method can have a material affect on the ROE, with a large revenue impact, say attorneys with Day Pitney LLP.

  • Recent FERC Ruling Dashes Hopes Of Oil Pipeline Watchers

    George Fatula

    The outcome of High Prairie LLC v. Enbridge Energy LP turned out to be a disappointment for industry watchers hoping for a definitive ruling on whether the Federal Energy Regulatory Commission would break with well-established precedent and require an interstate oil pipeline to interconnect with another pipeline, say attorneys with Bracewell & Giuliani LLP.

  • Rise Of The Machines — Predictive Coding Goes Mainstream

    Michael Moscato

    The pros of using predictive coding far outweigh the cons. Given the heavy pressure on law firms and in-house counsel to reduce discovery costs, as well as the Justice Department's recent stance on the subject, it appears predictive coding will continue to emerge from the obscure world of legal technology to the mainstream of legal practice, say Michael Moscato and Myles Bartley of Curtis Mallet-Prevost Colt & Mosle LLP.

  • The Oil And Gas Operator's Texas Advantage

    Michael Bolton

    The interpretation by the Supreme Court of Texas in Reeder v. Wood County Energy LLC grants vast protection to oil and gas operators, but by doing so, it is perceived by some as muddling the differences between tort and contract law, says Michael Bolton and Kate Kalanick of Faegre Baker Daniels LLP.

  • Know Your Risks Before Going Green In Construction

    Aaron Mandel

    Although there are benefits to “going green” in the construction, development and operation of buildings, there are also risks unique to green building that will test the boundaries of coverage under typical liability insurance policies, say attorneys with Sedgwick LLP.

  • 4th Circ. Weighs In On Bona Fide Purchaser Defense

    William Cleveland

    The Fourth Circuit recently issued a ruling in PCS Nitrogen Inc. v. Ashley II of Charleston that may limit the availability of the bona fide prospective purchaser defense. By narrowly construing one of the elements of the BFPP defense, the court has underscored the importance of strict compliance with all requirements of the defense, say attorneys with K&L Gates LLP.

  • The Who, What And Why Of Public-Private Partnerships

    Maryam Khosharay

    Public-private partnerships have been used in a wide range of sectors to provide public services, from power plants and railroads to hospitals and sanitation plants. Yet there are a variety of potential contractual arrangements and the financing of a PPP can be complex, say Maryam Khosharay and Herbert Glaser of Haynes and Boone LLP.

  • Latest In EPA's Series Of Aggressive Coal Plant Rules

    Karl Karg

    Recently, the U.S. Environmental Protection Agency announced proposed technology-based effluent limitation guidelines and standards for steam electric power-generating units. These guidelines will certainly impose significant costs, and when coupled with the cost of the EPA’s rules under the Clean Air Act, there can be little question that some coal-fired facilities will close as a result, say attorneys with Latham & Watkins LLP.

  • Pros And Cons Of Recent Renewable Energy Bill

    Timothy Devetski

    While the recently introduced bill permitting renewable energy projects to use a master limited partnership structure seems like good policy, there is concern that opening the MLP franchise to projects without a strong track record of producing steady cash flows could result in failed projects and cast a pall over the entire investment category, say attorneys with Sidley Austin LLP.

  • Flaws In NY Court's Ruling Of Recent Natural Gas Cases

    Yvonne Hennessey

    Recently, a New York appellate court upheld lower court decisions in Norse Energy Corp. USA v. Town of Dryden and Cooperstown Holstein Corp. v. Town of Middlefield, which found municipal bans on natural gas development to be a valid exercise of home rule. There are a number of reasons, however, that the court should have instead overturned these decisions, says Yvonne Hennessey of Hiscock & Barclay LLP.