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Energy

Houses passes bill to protect domestic oil production, protect Iñupiat community

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From T

Indigenous communities are advocating for economic development projects in the North Slope, explaining that more than 95% of their tax base comes from resource development infrastructure.

The U.S. House passed another a bill to advance domestic energy production, this time in response to cries for help from an indigenous community living in the Alaska North Slope.

The bill’s cosponsor, a Democrat from Alaska, did not vote for her own bill. It passed with the support of five Democrats, including two from Texas who are strong supporters of the U.S. oil and natural gas industry.

The U.S. House has advanced several bills and resolutions to support domestic U.S. oil and natural gas production, supported by Texas Democrats. They’ve done so after the Biden administration has taken more than 200 actions against the industry, The Center Square reported.

One includes the Department of the Interior restricting development on over 50% of the Arctic National Wildlife Refuge (ANWR), directly impacting the Iñupiat North Slope community.

The Alaska North Slope region includes a part of ANWR and National Petroleum Reserve-Alaska (NPRA). Both are home to the indigenous Iñupiat community who maintain that the Biden administration is trying to “silence indigenous voices in the Arctic.”

The plan to halt North Slope production was done through a federal agency rule change, a tactic the administration has used to change federal law bypassing Congress. The rule cancels seven oil and gas leases issued by the Trump administration in the name of “climate change.” Interior Secretary Deb Haaland said canceling the leases was “based on the best available science and in recognition of the Indigenous Knowledge of the original stewards of this area, to safeguard our public lands for future generations.”

The indigenous community strongly disagrees, saying they weren’t consulted before, during or after the rule change.

Nagruk Harcharek, president of the Voice of Arctic Iñupiat, a nonprofit that represents a collective elected Iñupiaq leadership, says the administration’s mandate “to ‘protect’ 13 million acres of our ancestral homelands was made without fulfilling legal consultative obligations to our regional tribal governments, without engaging our communities about the decision’s impact, and with an incomplete economic analysis that undercuts North Slope communities.”

He argues the administration has overlooked “the legitimate concerns of elected Indigenous leaders from Alaska’s North Slope. This is a continuation of the onslaught of being blindsided by the federal government about unilateral decisions affecting our homelands.”

Restricting NPR-A oil production is “yet another blow to our right to self-determination in our ancestral homelands, which we have stewarded for over 10,000 years. Not a single organization or elected leader on the North Slope, which fully encompasses the NPR-A, supports this proposed rule,” he said, adding that they asked for it to be rescinded.

In response, U.S. Reps. Mary Sattler Peltola, D-Alaska, and Pete Stauber, R-Minn., introduced HR 6285, “Alaska’s Right to Produce Act.” The U.S. House Committee on Natural Resources Subcommittee on Energy and Natural Resources held a hearing on the issue; members of the Iñupiat Community of the Arctic Slope and the Kaktovik Iñupiat Corporation testified.

Kaktovik Iñupiat Corporation president Charles Lampe said they “refuse to become conservation refugees on our own homelands and unapologetically stand behind the Alaska’s Right to Produce Act.”

The Kaktovik is the only community located in the ANWR. The North Slope Iñupiat have stewarded their ancestral homelands for thousands of years, predating the creation of the U.S. federal government, the Interior Department and the state of Alaska, they argue.

The indigenous communities are advocating for economic development projects in the North Slope, explaining that more than 95% of their tax base comes from resource development infrastructure. Tax revenue funds public school education, health clinics, water and sewage systems, wildlife management and research and other services that otherwise would not exist, they argue. Eliminating their tax base, will directly impact their lives and jeopardize their long-term economic security, they argue.

The House passed Alaska’s Right to Produce Act on Wednesday to reverse the rule change and establish the Coastal Plain oil and gas leasing program. It authorizes and directs federal agencies to administer oil and natural gas leasing on 13 million acres of public land in the North Slope.

The bill passed by a vote of 214-199 without the support of its Democratic cosponsor from Alaska, Peltola, who voted “present.”

Five Democrats voted for it: Sanford D. Bishop, Jr. of Georgia, Henry Cuellar and Vincente Gonzalez of Texas, Jared Golden of Maine and Marie Gluesenkamp Perez of Washington. One Republican voted against it, Rep. Brian Fitzpatrick of Pennsylvania.

After it passed, Harcharek said, “Since the Biden administration announced this decision in September, our voices, which overwhelmingly reject the federal government’s decisions, have been consistently drowned out and ignored. This administration has not followed its well-documented promises to work with Indigenous people when crafting policies affecting their lands and people. We are grateful to Congress for exercising its legislative authority to correct the federal government’s hypocrisy and advance Iñupiaq self-determination in our ancestral homelands.”

Kaktovik Mayor Nathan Gordon, Jr. said the administration “is regulating our homelands in a region they do not understand and without listening to the people who live here.” The new law is “a vital corrective measure that will prevent our community from being isolated and protect our Iñupiaq culture in the long term.”

The bill heads to the Democratic controlled Senate, where it is unlikely to pass.

Business

Two major banks leave UN Net Zero Banking Alliance in two weeks

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From The Center Square

Under Texas law, financial institutions that boycott the oil and natural gas industry are prohibited from entering into contracts with state governmental entities. State law also requires state entities to divest from financial companies that boycott the oil and natural gas industry by implementing ESG policies.

Not soon after the general election, and within two weeks of each other, two major financial institutions have left a United Nations Net Zero Banking Alliance (NZBA).

This is after they joined three years ago, pledging to require environmental social governance standards (ESG) across their platforms, products and systems.

According to the “bank-led and UN-convened” NZBA, global banks joined the alliance, pledging to align their lending, investment, and capital markets activities with a net-zero greenhouse gas emissions by 2050, NZBA explains.

Since April 2021, 145 banks in 44 countries with more than $73 trillion in assets have joined NZBA, tripling membership in three years.

“In April 2021 when NZBA launched, no bank had set a science-based sectoral 2030 target for its financed emissions using 1.5°C scenarios,” it says. “Today, over half of NZBA banks have set such targets.”

There are two less on the list.

Goldman Sachs was the first to withdraw from the alliance this month, ESG Today reported. Wells Fargo was the second, announcing its departure Friday.

The banks withdrew two years after 19 state attorneys general launched an investigation into them and four other institutions, Bank of America, Citigroup, JP Morgan Chase and Morgan Stanley, for alleged deceptive trade practices connected to ESG.

Four states led the investigation: Arizona, Kentucky, Missouri and Texas. Others involved include Arkansas, Indiana, Kansas, Louisiana, Mississippi, Montana, Nebraska, Oklahoma, Tennessee and Virginia. Five state investigations aren’t public for confidentiality reasons.

The investigation was the third launched by Texas AG Ken Paxton into deceptive trade practices connected to ESG, which he argues were designed to negatively impact the Texas oil and natural gas industry. The industry is the lifeblood of the Texas economy and major economic engine for the country and world, The Center Square has reported.

The Texas oil and natural gas industry accounts for nearly one-third of Texas’s GDP and funds more than 10% of the state’s budget.

It generates over 43% of the electricity in the U.S. and 51% in Texas, according to 2023 data from the Energy Information Administration.

It continues to break production records, emissions reduction records and job creation records, leading the nation in all three categories, The Center Square reported. Last year, the industry paid the largest amount in tax revenue in state history of more than $26.3 billion. This translated to $72 million a day to fund public schools, universities, roads, first responders and other services.

“The radical climate change movement has been waging an all-out war against American energy for years, and the last thing Americans need right now are corporate activists helping the left bankrupt our fossil fuel industry,” Paxton said in 2022 when launching Texas’ investigation. “If the largest banks in the world think they can get away with lying to consumers or taking any other illegal action designed to target a vital American industry like energy, they’re dead wrong. This investigation is just getting started, and we won’t stop until we get to the truth.”‘

Paxton praised Wells Fargo’s move to withdraw from “an anti-energy activist organization that requires its members to prioritize a radical climate agenda over consumer and investor interests.”

Under Texas law, financial institutions that boycott the oil and natural gas industry are prohibited from entering into contracts with state governmental entities. State law also requires state entities to divest from financial companies that boycott the oil and natural gas industry by implementing ESG policies. To date, 17 companies and 353 publicly traded investment funds are on Texas’ ESG divestment list.

After financial institutions withdraw from the NZBA, they are permitted to do business with Texas, Paxton said. He also urged other financial institutions to follow suit and “end ESG policies that are hostile to our critical oil and gas industries.”

Texas Comptroller Glenn Hegar has expressed skepticism about companies claiming to withdraw from ESG commitments noting there is often doublespeak in their announcements, The Center Square reported.

Notably, when leaving the alliance, a Goldman Sachs spokesperson said the company was still committed to the NZBA goals and has “the capabilities to achieve our goals and to support the sustainability objectives of our clients,” ESG Today reported. The company also said it was “very focused on the increasingly elevated sustainability standards and reporting requirements imposed by regulators around the world.”

“Goldman Sachs also confirmed that its goal to align its financing activities with net zero by 2050, and its interim sector-specific targets remained in place,” ESG Today reported.

Five Goldman Sachs funds are listed in Texas’ ESG divestment list.

The Comptroller’s office remains committed to “enforcing the laws of our state as passed by the Texas Legislature,” Hegar said. “Texas tax dollars should not be invested in a manner that undermines our state’s economy or threatens key Texas industries and jobs.”

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Daily Caller

LNG Farce Sums Up Four Years Of Ridiculous Biden Energy Policy

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From the Daily Caller News Foundation

By David Blackmon

That is what happens when “science” isn’t science at all and energy reality is ignored in favor of the prevailing narratives of the political left.

As Congress struggled with yet another chaotic episode of negotiations over another catastrophic continuing resolution, all I could think was how wonderful it would be for everyone if they just shut the government down and brought an end to the Biden administration and its incredibly braindead and destructive energy-policy farce a month early.

What a blessing it would be for the country if President Joe Biden’s Environmental Protection Agency (EPA) were forced to stop “throwing gold bars off the Titanic” 30 days ahead of schedule. What a merry Christmas we could have if we never had to hear silly talking points based on pseudoscience from the likes of Biden’s climate policy adviser John Podesta or Energy Secretary Jennifer Granholm or Biden himself (read, as always, from his ever-present TelePrompTer) again!

What a shame it has been that the rest of us have been forced to take such unserious people seriously for the last four years solely because they had assumed power over the rest of us. As Jerry Garcia and the Grateful Dead spent decades singing: “What a long, strange trip it’s been.”

Speaking of Granholm, she put the perfect coda to this administration’s seemingly endless series of policy scams this week by playing cynical political games with what was advertised as a serious study. It was ostensibly a study so vitally important that it mandated the suspension of permitting for one of the country’s great growth industries while we breathlessly awaited its publication for most of a year.

That, of course, was the Department of Energy’s (DOE) study related to the economic and environmental impacts of continued growth of the U.S. liquified natural gas (LNG) export industry. We were told in January by both Granholm and Biden that the need to conduct this study was so urgent, that it was entirely necessary to suspend permitting for new LNG export infrastructure until it was completed.

The grand plan was transparent: implement the “pause” based on a highly suspect LNG emissions draft study by researchers at Cornell University, and then publish an impactful DOE study that could be used by a President Kamala Harris to implement a permanent ban on new export facilities. It no doubt seemed foolproof at the Biden White House, but schemes like this never turn out to be anywhere near that.

First, the scientific basis for implementing the pause to begin with fell apart when the authors of the draft Cornell study were forced to radically lower their emissions estimates in the final product published in September.

And then, the DOE study findings turned out to be a mixed bag proving no real danger in allowing the industry to resume its growth path.

Faced with a completed study whose findings essentially amount to a big bag of nothing, Granholm decided she could not simply publish it and let it stand on its own merits. Instead, someone at DOE decided it would be a great idea to leak a three-page letter to the New York Times 24 hours before publication of the study in an obvious attempt to punch up the findings.

The problem with Granholm’s letter was, as the Wall Street Journal’s editorial board put it Thursday, “the study’s facts are at war with her conclusions.” After ticking off a list of ways in which Granholm’s letter exaggerates and misleads about the study’s actual findings, the Journal’s editorial added, “Our sources say the Biden National Security Council and career officials at Energy’s National Laboratories disagree with Ms. Granholm’s conclusions.”

There can be little doubt that this reality would have held little sway in a Kamala Harris presidency. Granholm’s and Podesta’s talking points would have almost certainly resulted in making the permitting “pause” a permanent feature of U.S. energy policy. That is what happens when “science” isn’t science at all and energy reality is ignored in favor of the prevailing narratives of the political left.

What a blessing it would have been to put an end to this form of policy madness a month ahead of time. January 20 surely cannot come soon enough.

David Blackmon is an energy writer and consultant based in Texas. He spent 40 years in the oil and gas business, where he specialized in public policy and communications.

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