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CalPERS’ Commitment to Infrastructure (Real Assets Annual Program Review, November 2014)

On November 17, 2014, the California Public Employees’ Retirement System (CalPERS), the largest U.S. public pension fund with approximately $300 billion in assets, conducted its annual real assets program review. CalPERS’...more

Unlocking Demand For Natural Gas Pipelines

The shale oil and gas revolution in the United States has radically changed the country’s energy outlook. Massive economically recoverable reserves discovered in places such as the Marcellus and Bakken shale formations...more

Will Foreign-Owned Mining Companies Build Africa’s Rail and Seaport Infrastructure?

Latham & Watkins partners Glen Ireland, Chair of the firm’s Mining & Metals Industry Group, and Clement Fondufe, Chair of the Africa Practice, look at the challenges facing foreign-owned mining companies and discuss how...more

PA Tax Law News -- December 2013: Fuel Taxes Increased to Solve Transportation Funding Shortfall

After years of effort by multiple administrations and after overcoming difficult political hurdles in the Pennsylvania House of Representatives, the Commonwealth has finally addressed its steadily worsening transportation...more

Bi-partisan Infrastructure Bill Introduced in U.S. Senate

On November 14, a bipartisan group of ten U.S. Senators, led by Mark Warner (D-VA) and Roy Blunt (R-MO), introduced legislation to create a new independent Infrastructure Financing Authority (IFA) to issue loans and loan...more

WACC: A New World Order?

The Australian Energy Regulator (AER) on Friday released its Draft rate of return guideline, August 2013 (AER Draft Guideline). The AER Draft Guideline sets out the methodologies, models and other material that the AER...more

Mexico Projects: Get Ready, Get Set . . .

Development opportunities in Mexico are expected to abound in the coming years with the support and sponsorship of the Mexican government. By all accounts, it appears to be full steam ahead for Mexico in the infrastructure...more

USDOT Issues Temporary Exemption from Buy America for Certain Utility Relocations

Following up on our previous post regarding the uncertainty surrounding the application of Buy America requirements to utility relocations, the United States Department of Transportation (USDOT) has recently released two...more

Expanded U.S. Sanctions on Iran Effective July 1, 2013

President Obama has issued a new Executive Order that goes into effect July 1, 2013. The Executive Order targets new areas of the Iranian economy for sanctions, including exchange transactions involving Iranian Rials and...more

California Heavy-Duty Vehicle Greenhouse Gas Emission Reduction Regulations

Lessors of tractors or trailers may be subject to California's regulations pertaining to the reduction of greenhouse gas emissions. California's regulations pertain to heavy-duty tractors and 53-foot or longer box-type...more

Can New Jersey Bank On the Infrastructure Bank?

The Northeast relies heavily on transportation for its day-to-day functions. Increasingly unpredictable climate changes, dense population, and rapidly aging infrastructure have made the ability to secure financial resources...more

EU defines scope of expanded Iran sanctions, including new natural gas, metals and vessels/ tankers bans

On 21 December 2012, the Council of the European Union (EU) adopted the EU-wide legislation clarifying important details of the expanded sanctions measures already agreed by the Council in broad terms on 15 October 2012.1...more

NY PSC Acts on Energy Highway Initiative

New York’s “Energy Highway” continues to move forward. On October 22, 2012, the Energy Highway Task Force presented Governor Andrew Cuomo with its New York Energy Highway Blueprint (Blueprint), a comprehensive plan to upgrade...more

Obama Signs Transportation Bill

After signing a one-week extension to prevent the original, continually extended 2009 transportation authorization bill from expiring on June 30, President Obama finally signed a new transportation bill into law on Friday,...more

The Canadian Oil Sands: A backgrounder: Market Opportunities

The growth in extraction and production has been matched by significant investment opportunities in upgrading facilities and transportation infra-structure. Transportation - Over 80 percent of bitumen produced in...more

Department of Energy Releases $40 Million Solicitation to Fund Pilot - and Demonstration-Scale Biorefineries

On June 15, 2012, the Department of Energy (DOE) Biomass Program issued a long-anticipated funding opportunity announcement for innovative pilot- and demonstration-scale advanced biorefineries. As discussed in a recent WSGR...more

Pennsylvania Announces $20 Million Grant Program to Convert Fleet Vehicles to Natural Gas

On June 4, 2012, the Pennsylvania Department of Environmental Protection announced a $20 million competitive grant program for companies and organizations to convert fleet vehicles to be fueled by natural gas. The grant...more

Italy issues new “Golden Share”

On March 9, 2012, the Italian Council of Ministers approved a Law Decree (the “Decree”) that changes Italy’s “Golden Share” powers in certain strategic sectors and repeals Article 2 of Legislative Decree No. 332 dated May 31,...more

EU imposes further sanctions against Syria (with more likely to come)

I. Introduction On 1 December 2011, the Council of the European Union (EU) considerably expanded its existing regime for economic sanctions against Syria when it adopted Council Decision 2011/782/CFSP which introduces or...more

Bad Debts are Deductible for Pennsylvania Gross Receipts Tax Purposes - Provided Proper Documentation is Available

The Pennsylvania Department of Revenue recently issued Corporation Tax Bulletin 2011-02. The Bulletin provides some general guidance on the accounting method that must be used for computing the gross receipt taxes that...more

Iran Sanctions Update

The European Union has on 26 July 2010 imposed tough new economic sanctions against Iran, going beyond the fourth round of sanctions approved by the UN Security Council last month. The move echoes the US' tightening of its...more

IFTA Compliance Tips

The International Fuel Tax Agreement (IFTA) audit procedures employed by the PA Department of Revenue when a motor carrier lacks proper mileage records or proof of fuel purchases almost guarantee a substantial assessment,...more

Federal Clean Energy Policy Summaries: Key Updates from the Past Few Weeks

Energy and Climate Legislation Senate 9/28/09 Bingaman Hearings May Open Door to Cap-And-Trade Alternatives Senator Jeff Bingaman (D-NM) held an Energy & Natural Resources Senate Committee hearing on climate...more

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