Grounded's Morning Energy: Aug. 28, 2012 - Business, Government Legal News from throughout WV

Grounded's Morning Energy: Aug. 28, 2012

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Some gas, but a lot about oil this morning:

Wharton: No Specific Plans for Gas Money Ohio County: "County officials previously noted they used the county's initial lease agreement payment from Chesapeake Energy to pay down debt owed to contractors who performed work at The Highlands."

In defense of Act 13 "As the question of the constitutionality of Act 13's zoning provisions moves to Pennsylvania's Supreme Court, leading Republicans in Harrisburg are hoping they can testify in the oil and gas drilling law's defense."

Long fight over fracking still divides Pa. town Dissent as drilling is set to resume in Dimock: "Residents who support or oppose shale-gas development complain that their neighbors are looking for a quick payday, either from gas-drilling royalties or a legal settlement."

FirstEnergy's renewable energy end run: editorial Ohio: "... a report by Exeter Associates … describes as ‘seriously flawed; FirstEnergy's decision to pay 15 times more for the (renewable energy) credits than its subsidiaries would have paid if they had just paid the fines."

Dipping Into US Oil Reserves: A Speculator's Bonanza "Tapping into strategic reserves would, as it did last year, result in only a very temporary reduction in gas prices."

Should Canada refine its own oilsands bitumen? "Enbridge's Northern Gateway and TransCanada's Keystone XL pipelines, which have been fighting for the approval of governments, regulatory agencies and the public, have renewed a debate over whether Canada should be refining the raw bitumen at home instead of exporting it to be refined farther afield."

Peak cheap oil is an incontrovertible fact "Barclays Capital expects a ‘monster' effect this quarter as the crude market tightens by 2.4m barrels a day, with little extra supply in sight."

Is Energy Independence Really in the Cards? Travis Hoium: "Based on current energy production and trends well established in the energy industry, I don't think North American energy independence is out of reach by 2020. In fact, I would be surprised if we didn't reach that goal." And, Huffington Post on the other side of that: Mitt's Meaningless Campaign for Energy Independence "Our goal should not be energy independence, but a reduction in the proportion of our GDP spent on energy."

Finance key as U.N. talks on climate deal resume "The U.S., Japan and the EU will come under pressure this week to pledge billions of dollars a year from 2013 to help the world's poorest nations fight climate change, as negotiators from more than 190 countries meet to advance talks on a new global climate pact."

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