Climate science, policy, politics, and action
Panel 1
Panel 2
The purpose of this hearing is to assess the challenge of oil and gas sector methane leaks from a scientific, technological, and policymaking perspective. The hearing will discuss the current scientific consensus regarding the role of methane leaks as a driver of oil and gas sector methane emissions. The hearing will highlight recent advances in innovative leak detection and repair technologies, as well as the importance of deploying such technologies broadly throughout oil and gas sector operations to achieve large-scale reductions in methane emissions. Finally, the hearing will examine research gaps related to oil and gas sector methane emissions and opportunities for the Federal government to support scientific research activities pertaining to oil and gas sector methane leaks.
Committee staff conclude that oil and gas companies are failing to design, equip, and inform their Methane Leak Detection and Repair (LDAR) activities as necessary to achieve rapid and large-scale reductions in methane emissions from their operations. The sector’s approach does not reflect the latest scientific evidence on methane leaks. Oil and gas companies must change course quickly if the United States is to reach its methane reduction targets by the end of this decade. The Committee staff also learned that oil and gas companies have internal data showing that methane emission rates from the sector are likely significantly higher than official data reported to EPA would indicate. A very significant proportion of methane emissions appear to be caused by a small number of super-emitting leaks. One company experienced a single leak that may be equivalent to more than 80% of all the methane emissions it reported to EPA – according to EPA’s prescribed methodology – for all of its Permian oil and gas production activities in 2020.
Witnesses:
The purpose of this hearing is for Members of the Subcommittee to discuss the safety of our nation’s roadways, explore programs and policies included in the Infrastructure Investment and Jobs Act to improve roadway safety, and learn from key stakeholders about their role in implementing these programs and other roadway safety strategies.
Witnesses:
The purpose of this hearing is to receive testimony on the following bills:
Opening Remarks
Witness Panel 1
The United States and European allies have largely cut Russia out of the global economy following its full-scale invasion of Ukraine. However, given European reliance on Russian natural gas and oil, sweeping energy sanctions have lagged. The European Union spends nearly a billion euros a day on Russian energy, and several EU Member States are struggling to wean themselves off Russian resources in order to implement a full embargo.
This hearing will examine plans to create a Europe that is wholly free from Russian oil and gas. Witnesses will discuss the importance of a robust energy embargo to starving the Russian war machine; options to ensure that Ukraine’s energy needs are met; alternative sources of energy for Europe; and the perspective of Germany, which plays an outsize role as the most powerful economy in Europe and a primary consumer of Russian natural resources.
Witnesses:
Witnesses:
Chair: Jon Tester (D-Mont.)
Witnesses:
The Department of Defense $773 billion budget request includes $56.5 billion for air power platforms and systems; more than $40.8 billion for sea power, to include nine more battle force ships, and nearly $12.6 billion to modernize Army and Marine Corps fighting vehicles; more than $130.1 billion for research and development; and more than $3 billion to address the effects of climate change, bolstering our installation resiliency and adaptation to climate challenges.
The FY 2023 DoD Budget request of $773.0 billion is a $30.7 billion, or 4.1% increase, from the FY 2022 enacted amount.
Witness:
The proposed FY 2023 budget includes “a total of $44.9 billion in discretionary budget authority to tackle the climate crisis, $16.7 billion more than FY 2021 or an increase of nearly 60 percent.”
From May 24th-June 6th we will be traveling along the route of the Mountain Valley Pipeline. We seek to amplify the voices of frontline Appalachian communities and others in their fight for environmental justice and renewable energy. We will be working to challenge the environmental damages being done by all fossil fuels, and to cancel the Mountain Valley Pipeline (MVP) and the MVP Southgate extension, whose construction has already devastated parts of WV, VA and NC.
Updates on the Walk’s progress are being posted on Facebook and on Twitter with the hashtag #AppalachiaWalk.
Starting points:
If you are trying to find the Walk, call Steve at (828) 777-7816 or Ted at (973) 460-1458 or email [email protected].
All along the pipeline route we will inspect damages to water, air, animals, and the Earth, and the people who depend on them; and we will every morning have ceremonies honoring the heroes in our states who have died during these fights to protect our Appalachia.
Communities affected by the Mountain Valley Pipeline and other destructive/extractive industries are invited to participate in the event in whatever way is best or most advantageous to them. For example, they can join our walk or have the walk come to them.
We plan to use the two-week journey on foot and by vehicle to support frontline communities first and foremost by listening. As appropriate, walkers may be called upon to support local campaigns for economic, racial and climate justice by amplifying their voices in various media, standing alongside them at rallies and protests, participating in and hosting workshops, and honoring the heroes of the struggle who are no longer with us.
Walk organizers consist of dedicated environmental justice workers from West Virginia, Virginia, North Carolina and beyond, and members of seasoned organizations such as 7 Directions of Service, POWHR, Beyond Extreme Energy, Th!rd Act, NC Alliance to Protect the People and the Places We Live, Chesapeake Climate Action Network, and others.
Commodity Futures Trading Commission Chairman Rostin Behnam today announced the first-ever Voluntary Carbon Convening on June 2. The purpose of the meeting is to discuss issues related to the supply and demand for high quality carbon offsets, including product standardization and the data necessary to support the integrity of carbon offsets’ greenhouse gas emissions avoidance and reduction claims. Panelists will also discuss issues related to the market structure for trading carbon offsets and carbon derivatives as well as perspectives on the challenges and opportunities in these markets.
“As companies increasingly turn to the derivatives markets to manage risk and keep pace with global efforts to decarbonize, I look forward to the CFTC’s facilitating these discussions,” said Chairman Behnam in prepared remarks to the ISDA Annual General Meeting. “Our goal is to foster innovation in crafting solutions to the climate crisis while ensuring integrity and customer protection.”
The further goal of the convening is to gather information from a wide variety of market participants in the voluntary carbon markets to better understand the potential role of the official sector in these markets, particularly as we see the emergence of CFTC regulated derivatives referencing cash offset markets. The convening will include participants from carbon offset standard setting bodies, a carbon registry, private sector integrity initiatives, spot platforms, designated contract markets, intermediaries, end-users, public interest groups, and others.
The convening will be held in the Conference Center at CFTC’s headquarters at Three Lafayette Centre, 1155 21st Street NW, Washington, D.C. beginning at 9.00 a.m. for participants only. Participants will also have an option to participate virtually. In accordance with the agency’s implementation of COVID-19 related precautions, the general public will have access to the convening by webcast on the CFTC’s website or may also listen by telephone.
To access the live meeting feed, use the dial-in numbers below or stream at www.cftc.gov. A live feed can also be streamed through the CFTC’s YouTube channel. Call-in participants should be prepared to provide their first name, last name, and affiliation, if applicable. Materials presented at the meeting, if any, will be made available online.
Domestic Toll-Free:
1-669-254 5252 or 1-646-828-7666 or
1-669-216-1590 or 1-551-285-1373
International Access:
https://cftc-gov.zoomgov.com/u/amybg62Jw
Webinar ID:
Passcode:
161 174 6177
144701
9:00am ET
Welcome and Opening Remarks
9:15am ET
Keynote Speakers
09:30am ET
Panel 1: Carbon Offset Standards and Quality Initiatives:
The discussion will include an introduction to the carbon offsets markets; carbon offsets standards; and a private sector supply-side initiative.
Moderator: Kelley Kizzier, Fellow, Bezos Earth Fund
10:45am ET
Panel 2: State and Federal Regulatory Updates
The discussion will highlight the role of carbon offsets accepted in a domestic compliance market; provide an overview of recent regulatory initiatives which may directly or indirectly impact the markets for carbon offsets; and perspectives on the role of carbon offsets within a whole-of- government approach to mitigating climate change.
Moderator: Nathanial Keohane, President, Center for Climate and Energy Solutions
11:45am ET
Lunch Break
12:45pm ET
Panel 3: Carbon Offsets Trading and Infrastructure
The discussion will provide an overview of carbon offset spot markets; exchange-listed derivatives; registry infrastructure; and OTC intermediation.
Moderator: Eric Pitt, Consultant, Climate Finance, Ceres Accelerator for Sustainable Capital Markets
2:00pm ET
Panel 4: Market Participants
Recommendations for the CFTC – Part 1 The panel will discuss perspectives on carbon offset projects from industry and the public interest. The panel will discuss the challenges and opportunities of trading carbon offsets and/or carbon offset derivatives; documentation issues; and recommendations for the role of the CFTC in these markets.
Moderator: Janet Peace, Chief of Advisory Services, BlueSource
Part I:
3:00pm ET
Panel 4: Market Participants
Recommendations for the CFTC – Part 2
The panel will discuss perspectives on carbon offset projects from industry and the public interest. The panel will discuss the challenges and opportunities of trading carbon offsets and/or carbon offset derivatives; documentation issues; and recommendations for the role of the CFTC in these markets.
Moderator: Janet Peace, Chief of Advisory Services, BlueSource
Part II:
4:00pm ET
Closing Remarks
Chairman Rostin Behnam
4:15pm ET
Adjournment
