Energy In-depth: Booneville firm to provide easement acquisition services for clean line project

Editor’s note: Each Friday, Talk Business & Politics provides “Energy In-depth,” a round-up of energy and regulatory news.
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BOONEVILLE FIRM TO PROVIDE EASEMENT ACQUISITION SERVICES FOR CLEAN LINE PROJECT
Parnell Consultants of Booneville announced a partnership Wednesday (Aug. 3) with Clean Line Energy Partners (Clean Line) to provide easement acquisition services for the Plains & Eastern Clean Line transmission project in Arkansas.

The Plains & Eastern Clean Line is the controversial $2 billion overhead direct current transmission line that officials say will deliver low-cost wind power from Oklahoma to Arkansas, Tennessee and other states in the Mid-South and Southeast. The project includes a delivery station to be located in Pope County that will provide enough wind energy to power more than 160,000 Arkansas homes each year.

API FILES LAWSUIT AGAINST EPA OVER EMISSION STANDARDS FOR OIL AND GAS SECTOR
The American Petroleum Institute (API) filed a lawsuit Tuesday (Aug. 2) with the D.C. Circuit Court of Appeals challenging the Environmental Protection Agency’s (EPA) final oil and natural gas sector rule calling for emission standards for new, reconstructed, and modified sources. Specifically, API is challenging the EPA’s failure to adhere to the specific limitations provided by the Clean Air Act and the way the agency can develop regulations.

“The industry continues to lead the way on emissions reductions because it is good for the environment and good for business,” said API Managing Counsel John Wagner. “Even as oil and natural gas production has risen dramatically, carbon emissions have fallen, thanks to industry leadership and investment in new technologies. Greater use of clean, affordable natural gas has pushed carbon emissions from power generation to their lowest level in more than 20 years.”

In addition to API, several industry groups and a coalition of 14 states have filed to sue the EPA, calling on the D.C. Circuit Court of Appeals to assess the EPA’s rule on the grounds that the agency has exceeded its statutory authority.

DECLINING ECONOMIC ACTIVITY AND OIL REVENUES IN RUSSIA ARE ADVERSELY AFFECTING ITS REGIONAL NEIGHBORS
The Russian economy, already weakened by the imposition of Ukraine-related sanctions by the United States and the European Union, has been further damaged by low crude oil prices since the end of 2014.

In 2015, Russia was the world’s second-largest producer of petroleum and natural gas, and the oil and natural gas sector accounted for approximately 8% of Russia’s gross domestic product (GDP), according to IHS Markit. However, in conjunction with both lower oil prices and international sanctions, Russia has recently experienced five consecutive quarters of decline in GDP, representing that country’s deepest economic downturn since 2008-09.

While consumers in many countries are benefiting from lower oil prices, declines in Russian economic activity are also having an adverse effect on economic growth in many neighboring countries by reducing remittances from migrant populations working in Russia. See the full EIA report here.