The Daily Energy

By Editors

The EPA gave the final response to the Deepwater Horizon disaster by banning BP from bidding on any further federal contracts for developing oil. The Agency slammed the company’s “lack of business integrity.” Meanwhile, the National Energy Company of Abu Dhabi has agreed to buy $1 billion of BP’s assets in the North Sea.

Pro-Iranian hackers have hacked the servers at the International Atomic Energy Commission and demanded publication on Israel’s nuclear bomb capabilities. Meanwhile, Iran vowed to continue its work on nuclear technology and observers say they are making progress.

The coalition government of Prime Minister John Cameron introduced its low-carbon energy plan yesterday, calling for increased efforts in saving energy and a continued push for nuclear power. The government is proposing to deregulate the electrical market, hoping to bring down prices and create further efficiencies. It will pay major users for using less power. The Labor opposition says the plan misses the opportunity to raise renewable requirements.

The Senate passed an amendment that rescues plans to require the military to develop biofuels. Democrats led the fight but the effort picked up Republicans support. Both the Navy and Air Force are pushing for biofuels in aircraft and ships, hoping to reduce foreign dependence But RedState says the military is not the place for green social engineering.

A member of Malaysian Prime Minister Najib Razak’s cabinet has flown to Canada to protest Ottawa’s decision to block Petroliam Nasional’s bid to purchase Progress Energy. The Malaysian company is state-owned but government officials say they don’t interfere in its operation. The Canadians are still dithering about whether to allow China’s CNOOC to acquire Nexen Energy and Nexen stock is falling as a result. Both Nexen and CNOOC tried to accelerate the process by resubmitting to the Committee on Foreign Investment in the United States for approval. Meanwhile, the Globe and Mail reports that Canada’s inability to sell its energy assets internationally is taking its toll on the treasuries of western Canadian provinces.

Finally, newly elected Michigan Governor Rick Snyder (above) has laid out his energy policy, saying that fracking for natural gas will be allowed but calling for a higher renewable energy standard as well. (Michigan voters rejected a proposal to mandate 25 percent renewables by 2025 in the recent election.)The Republican executive’s middle-of-the-road approach drew a mixed reaction from environmentalists, despite a proposal to build a bike trail from Belle Island in Detroit all the way to the Wisconsin border on the Upper Peninsula.