.The Texas Energy Report

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.The Texas Energy Report

Bloomberg’s Money Funds Anti-Fossil Fuel Agenda

By Alex Mills

 

February 20, 2020

It is well known that presidential candidate Michael Bloomberg, one of richest men in the world, has used his money in a massive advertising campaign to tout his candidacy for the Democrat Party’s nomination. His money was a focal point of the latest Democratic presidential debate on Wednesday.

However, it is not well known that he also uses his money to support his political positions, such as gun control, abortion and anti-fossil fuels (oil, natural gas and coal).

Bloomberg, the 78-year-old former mayor of New York City, privately funds anti-fossil fuel programs at the Sierra Club (he donated $50 million for its Beyond Coal and Beyond Gas campaigns) and the Environmental Defense Fund ($6 million to stop hydraulic fracturing), according to Wikipedia.

Bloomberg Philanthropies also gave $6 million in 2017 to create the New York University School of Law’s Environment and Energy Impact Center to provide lawyers to state attorneys general whose sole focus would be on environmental and climate change lawsuits and regulatory actions, according to a story authored by Jessica R. Towhey in Inside Sources…..
 

TIPRO Responds to Flaring Report Issued by RRC Commissioner Ryan Sitton: News Release

February 18, 2020

Austin, Texas – Today Texas Railroad Commissioner Ryan Sitton released a report highlighting data on flaring volumes from the oil and natural gas industry. The report examines the relationship between oil production and flaring and offers a new metric referred to as flaring intensity. As stated in the report, by measuring flaring intensity of nations, states and companies, and comparing them all to the global industry average,

Commissioner Sitton is now offering a benchmark on performance. His office plans to update and publish the report on a quarterly basis. The following statement can be attributed to Ed Longanecker, president of the Texas Independent Producers & Royalty Owners Association (TIPRO):….
 

Railroad Commissioners Act to Help Boost Energy Production in Texas: RRC

February 17, 2020

AUSTIN – Texas Railroad Commissioners this week adopted a key rule amendment to adapt oil and gas regulations to an evolving energy exploration landscape in the state.

Commissioners unanimously voted to amend RRC Rule 3.40 Assignment of Acreage to Pooled Development and Proration Units.

The rule restricted exploration in unconventional fracture treated (UFT) fields when oil and gas mineral ownership is divided at different depths below the surface. A UFT field is a field in which horizontal drilling and hydraulic fracturing must be used to recover oil and gas.

To take advantage of technological advances that can tap into once inaccessible hydrocarbon resources in UFT fields, Commissioners voted to allow assignment of acreage to multiple wells in these fields. This rule revision will further protect mineral owner interest and allow access to additional resources.

“This rule change is a win-win for industry and regulators, saving both agency staff and energy producers time and resources,” said Chairman Wayne Christian. “I am thankful for the hard work that went into modernizing these rules.”

“I appreciate the tremendous effort that Commission staff put into revising this rule,” said Commissioner Christi Craddick. “Working together with industry and stakeholders, these changes help to streamline our processes and increase production.”

“Our job as Commissioners is to ensure that the state’s rules keep up with advancing technology,” said Commissioner Ryan Sitton. “Amending Rule 40 will enable energy producers to responsibly extract more energy resources by recognizing that the way energy is produced has evolved over time. All Texans win in the form of lower energy prices with this change.”

The rule amendments adopted by Commissioners go into effect March 3, 2020.