Wednesday, 10 February 2010

Energy Update October 10

Energy Update October 10
IN THE STATES

FL - Governor Rick Scott announced that GE Oil & Gas will open an advanced manufacturing facility in Jacksonville. GE Oil & Gas, which is a subsidiary of the Fortune 100 General Electric Company, projects that it will create at least 500 jobs in Duval County over the next three years. The Jacksonville facility will manufacture two types of pressure valves among other oil and gas industry products at first. According to one company official, the product line could expand in the future. The State and the City of Jacksonville offered a combined 15.4 million in financial incentives, contingent upon job creation, to GE Oil & Gas, which expects to begin operations this November. "Florida businesses have already created more than 640,000 private-sector jobs since December 2010," said Governor Scott. Why GE Oil plans will bring at least 500 employees to Cecil Commerce Center - "The Florida Times-Union"

NV - The Governor's Office of Energy (GOE), which oversees energy programs and projects in the State, recently approved a tax incentive package for American Capital Energy - Searchlight Solar, LLC, a solar energy company. The package, which is worth approximately 4.6 million, includes a three-year sales and use tax incentive and also a 20-year property tax incentive. According to the GOE, Nevada is projected to realize at least 50 million in new investment, or about an 11-to-1 return on investment. Once at maximum capacity, the 250-acre Searchlight Solar project, which is expected to create more than 125 construction jobs, will produce about 17.5 megawatts of electricity, or enough energy to power 5,600 homes. The Nevada Power Company will purchase the solar power for at least a 20-year period. "The Searchlight Solar facility is a result of Nevada's commitment to the development and exportation of renewable energy by removing barriers and developing better business models that benefit our ratepayers," said GOE Director Paul Thomsen. Nevada's solar future brightens thanks to Governor's Office of Energy incentive - "Nevada Business"

VA - Governor Terry McAuliffe recently released his Virginia Energy Plan. The Commonwealth's new energy plan, which is revised every four years, calls for greater development of and investment in renewable energy sources, nuclear technology, and offshore gas and oil drilling. The Governor's 461-page plan also recommends the funding of a study on the building of a new liquefied natural gas (LNG) fueling station and "a roll back on regulations" that make it difficult to establish small solar farms. The plan also discusses the need to reduce greenhouse gas emissions and addresses energy sector workforce issues. Governor McAuliffe, who will discuss his plan at an upcoming event co-hosted by the Virginia Chamber of Commerce and the League of Conservation Voters, said his plan "will lead our efforts to grow, strengthen, and diversify Virginia's economy." McAuliffe releases state energy plan - "The Richmond Times-Dispatch" and McAuliffe's energy plan sticks with "all of the above" - "The Daily Press"

FEDERAL AND REGIONAL

The Governors Biofuels Coalition sent a letter to Office of Management and Budget (OMB) Director Shaun Donovan, urging the Obama administration to ensure that no cuts are made to the Renewable Fuel Standards (RFS) ethanol mandate. The Environmental Protection Agency's (EPA) proposed 2014 RFS volume requirements, according to the Coalition, threaten thousands of jobs and several biodiesel development plants. The OMB is presently reviewing the EPA's proposal. The Governors also believe that the new RFS rule, if adopted, could discourage "investment in the newly emerging cellulosic ethanol industry." The Coalition, which was created in 1991, is currently chaired by Governor Pat Quinn of Illinois and Governor Terry Branstad of Iowa, and counts 33 States as members. Governors: Don't cut ethanol mandate - "The Washington Examiner"

The Federal Energy Regulatory Commission (FERC) recently issued a final environmental impact statement for Cheniere Energy's proposed liquefied natural gas (LNG) project in Corpus Christi. FERC, after issuing certain mitigation measures, said the proposed project will not significantly harm the environment, thereby almost assuring the project of final approval. The Corpus Christi facility, which will include gas pipelines, compressor stations, and storage tanks, is projected to be capable of producing about 13.5 million metric tons of LNG per year. "Implementation of the mitigation proposed by Cheniere and our recommended mitigation would ensure that impacts in the project area would be avoided or minimized and would not be significant," FERC said. Corpus Christi NG clears hurdle toward federal approval - "FuelFix"


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