Energy and Environment Update - February 20, 2011

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In This Issue:

Energy and Climate Debate:

Early Saturday morning, the House voted (235-189) to cut $61 billion from current fiscal year 2010 spending levels (and approximately $100 billion below what the President requested for fiscal year 2011) for the federal government for the remainder of the fiscal year. No Democrats voted for the continuing resolution (H.R. 1), which now goes to the Senate for consideration.

Representatives spent much of last week debating the spending cuts, beginning with a proposal from House Republicans to reduce at least $100 billion in federal spending from the president’s 2011 budget request. Over 500 amendments were filed during an open process in which congressmen were allowed to offer unlimited amendments to the bill, and the House voted on nearly 70 amendments, rejecting more than 50 of them.

Congress:

Senate Democrats Unveil Agenda; Shaheen to Introduce Efficiency Legislation; Chu Testifies at Senate Energy Committee; Lugar Bill to Include Diverse Energy Standard; Bingaman to Retire; Loan Guarantee Information Sought; Committee Assignments; Legislation Introduced; and Upcoming Hearings.

Department of Agriculture:

GHG Measurements for Agriculture and Forestry.

Department of Energy:

$343 Million Loan Guarantee Awarded and $5 Million for GATE Centers.

Environmental Protection Agency:

Emissions Requirements Won’t Impact Reliability; GHG Inventory Published; Industry Groups Sue EPA Over E15; EPA to Release Ozone Policy Docs; EPA Solicits Regulatory Review Comments; Sectorwide Rules Provide Certainty; State Air Plan Revision Requirements Challenged; Diesel Engine Limits Too Restrictive; and Environmental Groups Urge Tough GHG Limits.

Federal Energy Regulatory Commission:

FERC Proposes Frequency Regulation.

Miscellaneous:

Pew Transportation Report Released; CA Biomass Plants Pay; Green Chemistry Regs for CA; UN Urges Green Militaries; TSCA Revisions Proposed; Sustainability Good for Bottom Line; Aggressive CA Policies Needed; Shareholder Resolutions Sought; European Transportation Emissions Limited; and SD Permit Includes GHG Limits.

Please see full article below for more information.

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Published In: Agriculture Updates, Elections & Politics Updates, Energy & Utilities Updates, Environmental Updates, Finance & Banking Updates

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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