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Just dropped · Trial Balloon · Ep. 194

What Just Happened?

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Trial Balloon · Ep. 194: What Just Happened?

Adversaries Could Shut Down U.S. Energy Grid

June 6, 2021 · 11:10 am ET · Leave a Comment

Energy Secretary Jennifer Granholm warned that the U.S. power grid is vulnerable to attacks and could be completely shut down by the nation’s adversaries, CNN reports.

Said Granholm: “There are thousands of attacks on all aspects of the energy sector and the private sector generally. It’s happening all the time. This is why the private sector and the public sector have to work together.”

Energy

Activists Land a Third Seat on ExxonMobil Board

June 3, 2021 · 6:00 pm ET · Leave a Comment

“An activist investor is likely to pick up a third seat on the board of ExxonMobil, giving it additional leverage to press the oil giant to address investor concerns about climate change,” the Wall Street Journal reports.

“Exxon said Wednesday that an updated vote count showed shareholders backed a third nominee of Engine No. 1, an upstart hedge fund that had already won two board seats at Exxon’s annual shareholder meeting last week.”

Green That Life: A fossil fuel industry under fire. Will it last?

Energy

A Really Bad Week for the Fossil Fuel Industry

June 3, 2021 · 12:00 pm ET · Leave a Comment

Sara Goddard has the details — including a new survey showing Democratic support for action on climate change and clean energy is reaching new highs.

Energy

Texas Energy Grid Was Within Minutes of Collapse

May 28, 2021 · 7:37 am ET · Leave a Comment

“The Texas electric grid came within five minutes of a complete collapse in mid-February,” the Wall Street Journal reports.

“If grid operators had completely lost control of the situation—they didn’t, although they came close—the spotty performance of the black start units could have left Texans without power for much longer than a few days. How long is impossible to say, though by the grid operators’ own estimate, a total collapse could have caused weeks or even months of outages.”

Energy

Gas Shortages Should Clear By End of Weekend

May 15, 2021 · 1:16 pm ET · Leave a Comment

Associated Press: “Energy Secretary Jennifer Granholm says the nation is ‘over the hump’ on gas shortages following a ransomware cyberattack that forced a shutdown of the nation’s largest gasoline pipeline. Problems peaked Thursday night, and service should return to normal in most areas by the end of the weekend, Granholm said Friday.”

Energy

Colonial Pipeline Paid $5 Million In Ransom

May 13, 2021 · 12:07 pm ET · Leave a Comment

“Colonial Pipeline Co. paid nearly $5 million to Eastern European hackers on Friday, contradicting reports earlier this week that the company had no intention of paying an extortion fee to help restore the country’s largest fuel pipeline,” Bloomberg reports.

“The company paid the hefty ransom in untraceable cryptocurrency within hours after the attack, underscoring the immense pressure faced by the Georgia-based operator to get gasoline and jet fuel flowing again to major cities along the Eastern Seaboard.”

Energy

Panic Buying Leading to Gasoline Shortages

May 12, 2021 · 8:59 am ET · Leave a Comment

Bloomberg: “From Virginia to Louisiana, convenience stores and corner gas stations are turning away customers as tanks tap out amid panic buying. An extended pipeline disruption could have far-reaching implications for East Coast states dependent on the pipeline, prompting bigger government interventions.”

The Hill: 71% of gas stations in Charlotte area out of fuel.

Energy

Final Approval Expected for Offshore Wind Farm

May 11, 2021 · 4:30 pm ET · Leave a Comment

New York Times: “The Biden administration on Tuesday will announce its final approval of the nation’s first commercial-scale offshore wind farm, a major step toward President Biden’s goal of expanding renewable energy production across the United States, according to two people familiar with the matter.

“The Vineyard Wind project calls for up to 84 turbines to be installed in the Atlantic Ocean about 12 nautical miles off the coast of Martha’s Vineyard, Mass. Together, they could generate about 800 megawatts of electricity, enough to power about 400,000 homes.”

Energy

U.S. Fuel Supplies Tighten

May 11, 2021 · 7:44 am ET · Leave a Comment

Reuters: “Supplies of gasoline tightened further in parts of the United States today as the shutdown of the nation’s biggest fuel pipeline by hackers entered its fifth day, raising concern about price spikes at the pumps heading into the summer driving season.”

Wired has a must-read profile of the hackers behind the pipeline attack.

Energy

Pipeline Shutdown Exposes Cyber Threat to Energy

May 10, 2021 · 6:53 am ET · Leave a Comment

“The ransomware attack that forced the closure of the largest U.S. fuel pipeline this weekend showed how cybercriminals pose a far-reaching threat to the aging, vulnerable infrastructure that keeps the nation’s energy moving,” the Wall Street Journal reports.

The Guardian reports the Biden administration has invoked emergency powers over the ransomware attack.

Energy

Coal Bottoms Out

May 3, 2021 · 12:00 pm ET · Leave a Comment

Bloomberg Businessweek: “In 2020, Americans used 447 million short tons (to distinguish from metric tons) of coal. That’s enough to fill 4 million railroad cars, which sounds like a lot. But it’s also the country’s lowest annual coal consumption since 1965, and even that barely hints at the historical territory coal may soon explore. A few more years at the downward pace of the past decade, and U.S. coal use will reach levels last seen in the 19th century.”

Energy

Texas Targets Renewables Despite Natural Gas Failures

April 19, 2021 · 12:00 pm ET · Leave a Comment

Texas Tribune: “Texas lawmakers have been advancing sweeping legislation to address some of the major issues stemming from February’s deadly winter storm and catastrophic power outages.”

“But some of the legislative moves are targeting renewable energy sources, like wind and solar, which experts and some lawmakers say seems more like a way to protect oil and gas interests than fix problems with the state’s beleaguered power grid.”

Energy

Nearly 200 Died In Texas Blackouts

April 1, 2021 · 4:02 pm ET · Leave a Comment

“The deaths of nearly 200 people are linked to February’s cold snap and blackouts, making the natural disaster one of the worst in Texas this past century,” the Houston Chronicle reports.

“The tally, which is nearly double the state’s official count, comes from an investigation of reports from medical examiners, justices of the peace and Department of State Health Services, as well as lawsuits and news stories.”

Energy

21 States Sue to Revive Keystone XL

March 18, 2021 · 4:00 pm ET · Leave a Comment

Associated Press: “Attorneys general from 21 states on Wednesday sued to overturn President Joe Biden’s cancellation of the contentious Keystone XL oil pipeline from Canada.”

“Led by Ken Paxton of Texas and Austin Knudsen of Montana, the states said Biden had overstepped his authority when he revoked the permit for the Keystone pipeline on his first day in office.”

Energy

Top Texas Regulator Resigns After Audio Released

March 17, 2021 · 8:32 am ET · Leave a Comment

“While many Texans last week were worried about sky-high electric bills from February’s winter storms, the state’s sole utility commissioner was privately reassuring out-of-state investors who profited from the crisis that he was working to keep their windfall safe,” the Texas Monthly reports.

The news came in a recording of a 48-minute call in which Texas Public Utility Commission chairman Arthur D’Andrea discussed the fallout from the February power crisis with investors.

The Houston Chronicle reports D’Andrea resigned last night after the audio was released.

Energy

Texas Opts Not to Reverse $16 Billion Electric Overcharge

March 5, 2021 · 1:04 pm ET · Leave a Comment

“The Public Utility Commission of Texas on Friday signaled it didn’t intend to reverse $16 billion in electric overcharges that an independent market monitor had flagged as stemming from the state’s weeklong blackouts,” the Wall Street Journal reports.

Said Commission Chairman Arthur D’Andrea: “It is impossible to unscramble this sort of egg.”

Energy

Oil Trade Group Poised to Endorse Carbon Pricing

March 2, 2021 · 12:00 pm ET · Leave a Comment

Wall Street Journal: “The oil industry’s top lobbying group is preparing to endorse setting a price on carbon emissions in what would be the strongest signal yet that oil and gas producers are ready to accept government efforts to confront climate change.”

Energy, Environment

North Dakota Blocks Wind Power to Save Coal Jobs

February 26, 2021 · 5:00 pm ET · Leave a Comment

Minnesota Public Radio: “North Dakota has lots of coal. It also has strong and consistent winds. It might be the perfect spot to showcase the long-awaited ‘energy transition’ from climate-warming fossil fuels to climate-saving renewables.”

“Yet that transition has hit a snag. Two counties in the state have enacted drastic restrictions on new wind projects in an attempt to save coal mining jobs, despite protests from landowners who’d like to rent their land to wind energy companies. It’s a sign of how difficult that transition can be for communities that depend on coal for jobs and tax revenue.”

Energy

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Taegan Goddard

Taegan Goddard

Taegan Goddard is the founder of Political Wire -- which for more than two decades has been one of the nation's most influential political news sites.

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