CERA Week notes

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dan_s
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Joined: Fri Apr 23, 2010 8:22 am

CERA Week notes

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CERAWeek: Podesta permitting push, climate, Kerry LNG spat. E&E News. The White House is banking on the six-month-old Inflation Reduction Act to shift global investment away from China and into a new wave of U.S. clean energy projects, a top Biden official said Monday at one of the world’s most important energy conferences. “We, for too long, let our supply chains drift overseas, particularly to China,” John Podesta, senior adviser to President Joe Biden for clean energy innovation and implementation, told reporters. “They have a stranglehold on particularly processing of critical minerals. They have a huge hold upstream, particularly wafers in the solar world,” he said at the CERAWeek by S&P Global conference in Houston. “What we’re trying to do is reset that policy so that we have the security of supplies.” On Monday, Kerry also huddled with Sen. Dan Sullivan (R-Alaska) on the sidelines of the conference. The informal meeting followed a public spat last week on Capitol Hill over Kerry’s role in the liquefied natural gas market development. During a confirmation hearing for an EPA official, Sullivan accused Kerry — who was not present in the hearing room — of telling foreign governments not to buy U.S. LNG. In remarks to E&E News on Monday, Kerry flatly denied Sullivan’s accusation.

Baker Hughes plans for multiple years of growth: CERAWeek Update. Bloomberg. It’s the first day of CERAWeek by S&P Global in Houston, one of the biggest events on the calendar for the energy industry, with over 1,000 CEOs, policymakers and financiers due to speak. This year’s event is framed around the so-called trilemma facing global energy: ensuring security of supply amid war and geopolitical tensions, while also transitioning toward a zero-carbon system and keeping energy affordable. Updates from today’s industry presentations and announcements are available below.

CERAWEEK-OPEC, US energy executives discuss tight capacity at Houston huddle. Reuters. U.S. energy executives and top OPEC officials on Monday discussed concerns about a lack of spare oil production capacity at a private dinner on the sidelines of a Houston conference, an executive who attended said. The dinner with shale producers and OPEC officials continued a tradition that began around five years ago when they were fierce competitors. It has been held in most recent years during the CERAWeek energy conference in the U.S. oil industry capital. The main takeaway from their discussion was concern among those present that there was little spare capacity in the market, Devon Energy Chief Executive Officer Rick Muncrief told reporters as he left the restaurant. Among the other topics that came up were strong oil demand and what U.S. shale producers could do to meet it given what shareholders want, he said.
Dan Steffens
Energy Prospectus Group
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