Podcasts about Strategic Petroleum Reserve

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Best podcasts about Strategic Petroleum Reserve

Latest podcast episodes about Strategic Petroleum Reserve

Ron Paul Liberty Report
The “Strategic Petroleum Reserve” Boondoggle -- Abolish It!

Ron Paul Liberty Report

Play Episode Listen Later Nov 26, 2021 17:57


It's not the business of the U.S. federal government to "stockpile" anything. But as usual with government, the "emergency" and "fear" cards are used as excuses for it to stockpile oil. However, we know not only from theory, but from practical experience, that in any emergency, the very last people that you want allocating resources are people in the federal government.

River to River
Biden administration turns to oil reserves to lower gas prices

River to River

Play Episode Listen Later Nov 25, 2021


The federal government is taking the rare step of releasing oil from the nation's Strategic Petroleum Reserve in an effort to address rising gas prices ahead of the holiday season.

Trish Intel Podcast
Nov 24 - Wokeism is Destroying America!

Trish Intel Podcast

Play Episode Listen Later Nov 24, 2021 20:08


After learning that the man who ran over 6 people in Wisconsin at a Christmas parade was free on just $1000 bail, AOC and Rashida Talib are making the argument for lower bail and no federal prisons. Really. Why isn't the media holding them accountable?  Meanwhile, the President is trying to lower inflation (and, specifically, prices at the gas pumps) by tapping the Strategic Petroleum Reserve in a rare move. In less than a year, we managed to go from energy independent to OPEC dependent. Why? One word: wokeism. Get more from Trish at https://TrishIntel.com and shop her store at https://TrishRegan.store. Support the show: https://trishregan.store/ See omnystudio.com/listener for privacy information.

FreightCasts
The eye-popping numbers coming out of the used truck market EP95 Drilling Deep

FreightCasts

Play Episode Listen Later Nov 24, 2021 24:17


Chris Visser of JD Power has been tracking used truck prices for a long time. And as he will tell you, he's never seen a used truck market quite like this one. He joins Drilling Deep co-host John Kingston to discuss the wild swings in prices and what needs to happen for them to slow their upward march.Also on the podcast, Kingston discusses the release of oil from the Strategic Petroleum Reserve announced earlier this week. The supply may not seem like much but inventories are key.Follow Drilling Deep on Apple PodcastsFollow Drilling Deep on SpotifyMore FreightWaves Podcasts

21-WFMJ News Podcast
Will Biden's move bring down gas prices?

21-WFMJ News Podcast

Play Episode Listen Later Nov 24, 2021 32:33


Madison Tromler speaks with economist Omid Bagheri from Kent State University about the President's move to open up the Strategic Petroleum Reserve. Will this actually lower gas prices? By how much? And for how long? 

The Scalpel With Dr. Keith Rose
Ep.206 Thanksgiving 2021: Thankful and Vigilant

The Scalpel With Dr. Keith Rose

Play Episode Listen Later Nov 24, 2021 26:02


Ep.206 Thanksgiving 2021: Thankful and Vigilant   We at The Scalpel wish a Happy Thanksgiving for you and your family.   In this episode of The Scalpel, Dr. Rose is grateful and reflective. He also encourages us to be vigilant - to keep watch over our freedom and the tools we have available to us to keep that freedom.   https://www.fda.gov/about-fda/fda-basics/fact-sheet-fda-glance   The FDA budget for FY 2019 is $5.9 billion.   About 55 percent, or $3.2 billion, of FDA's budget is provided by federal budget authorization. The remaining 45 percent, or $2.7 billion, is paid for by industry user fees.   The FDA budget is equivalent to $9.95 per American per year.   The FDA budget includes 17,686 full time equivalents (FTEs).   https://childrenshealthdefense.org/defender/fda-nearly-half-funding-companies-it-regulates/   The Food and Drug Administration (FDA) has moved from an entirely taxpayer-funded entity to one increasingly funded by user fees paid by manufacturers that are being regulated. Today, close to 45% of its budget comes from these user fees that companies pay when they apply for approval of a medical device or drug.     https://youtu.be/OnId2rQYS6M   White House Energy Secretary Jennifer Granholm responds to a press conference question regarding the release of 50 million barrels of oil from the Strategic Petroleum Reserve   “...how many barrels of oil do U.S. consumers use every day?”   CONTACT THE SHOW Website: https://scalpeledge.com Email: KFR@scalpeledge.com Twitter: @TheScalpelEdge Instagram: @TheScalpelPodcast   #TheScalpel

The Breitbart News Daily Podcast
Happy Thanksgiving! (Unless You Drive a Car, or Live in a City, or Eat Food); Guest Jim Jordan on How to Drain the Swamp

The Breitbart News Daily Podcast

Play Episode Listen Later Nov 24, 2021 50:31


On today's podcast, Alex rips the media for intentionally leaving questions surrounding the Waukesha car ramming unanswered. President Biden has decided to release millions of barrels of oil from the strategic reserve in a move that in no way has anything to do with his plummeting poll numbers; Joe has dusted off an old Democrat bogeyman to blame for the crisis -- the oil companies (he insists his own green anti-drilling policies are irrelevant). Additionally, shoplifting is getting out of control in Democrat-run cities and NPR suggests you air-kiss your family this Thanksgiving and ask for permission to hug because of COVID. Rep. Jim Jordan from Ohio is our guest, talking about his new book "Do What You Said You Would Do"; we discuss why the swamp is so awful and what we must do to dismantle the Deep State.  Caller of the Day Mike in Wisconsin blames the Democrat Media Complex at the local and state level for the riots in Kenosha and lawlessness in Waukesha -- and he's correct.

The Washington Times Front Page
November 24, 2021

The Washington Times Front Page

Play Episode Listen Later Nov 24, 2021 3:58


On today's Front Page: President Biden has ordered the release of 50 million barrels of oil from the Strategic Petroleum Reserve, A new study finds Central American migrants are coming to the U.S. illegally not because of violence or natural disasters but because of jobs, and more.

First Light
First Light - Wednesday, November 24, 2021

First Light

Play Episode Listen Later Nov 24, 2021 26:07


Michael speaks with USA Today White House Reporter Michael Colins about President Biden authorizing the use of the Strategic Petroleum Reserve. He also speaks with Washington Post Pop Culture Reporter Sonia Rao about the Grammy nominations. Plus the latest in news, sports, and entertainment all on First Light! See omnystudio.com/listener for privacy information.

World Business Report
US taps Strategic Petroleum Reserve

World Business Report

Play Episode Listen Later Nov 24, 2021 26:19


US President Biden has been speaking about the state of economy. And, in a bid to bring down energy prices, the United States is to release fifty million barrels of oil from its strategic reserves. The action is being taken simultaneously with several other countries, and we assess the likelihood of success of the move at curbing inflation. Also in the programme, you'd imagine winning the lottery and spending the winnings would be an incredible feeling. But not for a nursery in Southern Mexico. Parents say they are being threatened by a gang following their $950,000 win - many have fled the area. Plus, we meet the so-called scambaiters who are taking revenge on telephone scammers. Rosie Okumura tells us why she tries to keep callers on the line whilst recording the calls and releasing them on social media. Monica Vaca is acting deputy director of the US Federal Trade Commission's bureau of consumer protection, and discusses what they are doing to try and tackle scam callers. And Mark Button, professor of security and fraud at the University of Portsmouth, reminds us that many scam callers are engaged in the activity under pressure from organised criminals.

The FOX News Rundown
Will President Biden Run In 2024?

The FOX News Rundown

Play Episode Listen Later Nov 24, 2021 28:01


This week, White House Press Secretary Jen Psaki confirmed that President Biden intends to run for reelection in 2024. There's been speculation by many about whether he would seek a second term due to his age. The President would be 82 if reelected for a second term, plus his recent poll numbers have declined due to rising inflation in the U.S. Howard Kurtz, host of "MediaBUZZ" on the FOX News Channel and the Media BUZZMeter podcast weighs in on the possibility of President Biden running, how it would be different from his previous presidential election and the obstacles he will and is currently facing.   With gas prices at their highest level since September of 2014, President Biden said that the Department of Energy would be releasing 50 million barrels of oil from the U.S. Strategic Petroleum Reserve. However, questions remain if this will bring relief to American families and businesses that are struggling with energy costs. FOX Business Network Contributor Phil Flynn joins to discuss what sort of short-term and long-term impact the move may have, as well as what it may finally take to lower gas prices in the long run.   Plus, commentary by FOX Nation host Tom Shillue

Reopening America
Biden Releasing 50 Million Barrels of Oil From Strategic Petroleum Reserve Hoping to Bring Down Gas Prices

Reopening America

Play Episode Listen Later Nov 24, 2021 9:29


President Biden is tapping the Strategic Petroleum Reserve to release 50 million barrel of oil in hopes that it will bring down the price of gas. This is an effort done in coordination with 6 other countries to bring down prices which is a big contributor to inflation. The only snag is that it still may take some time before we see the effects or if it works at all. Tim Puko, energy policy reporter at the WSJ, joins us for what to know. Learn more about your ad-choices at https://www.iheartpodcastnetwork.com

From Washington – FOX News Radio
Will President Biden Run In 2024?

From Washington – FOX News Radio

Play Episode Listen Later Nov 24, 2021 28:01


This week, White House Press Secretary Jen Psaki confirmed that President Biden intends to run for reelection in 2024. There's been speculation by many about whether he would seek a second term due to his age. The President would be 82 if reelected for a second term, plus his recent poll numbers have declined due to rising inflation in the U.S. Howard Kurtz, host of "MediaBUZZ" on the FOX News Channel and the Media BUZZMeter podcast weighs in on the possibility of President Biden running, how it would be different from his previous presidential election and the obstacles he will and is currently facing.   With gas prices at their highest level since September of 2014, President Biden said that the Department of Energy would be releasing 50 million barrels of oil from the U.S. Strategic Petroleum Reserve. However, questions remain if this will bring relief to American families and businesses that are struggling with energy costs. FOX Business Network Contributor Phil Flynn joins to discuss what sort of short-term and long-term impact the move may have, as well as what it may finally take to lower gas prices in the long run.   Plus, commentary by FOX Nation host Tom Shillue

The Daily Dive
Biden Releasing 50 Million Barrels of Oil From Strategic Petroleum Reserve Hoping to Bring Down Gas Prices

The Daily Dive

Play Episode Listen Later Nov 24, 2021 25:16


President Biden is tapping the Strategic Petroleum Reserve to release 50 million barrel of oil in hopes that it will bring down the price of gas. This is an effort done in coordination with 6 other countries to bring down prices which is a big contributor to inflation. The only snag is that it still may take some time before we see the effects or if it works at all. Tim Puko, energy policy reporter at the WSJ, joins us for what to know. Next, the Bay Area and Los Angeles have been hit with a spat of flash-mob style robberies targeting luxury retail stores, jewelry stores, and even marijuana dispensaries. In coordinated efforts large groups of people rush a store, grab as much as they can, and then retreat to cars waiting outside. It underscores the huge challenge that law enforcement has and many also point to Prop 47 which reduced some property crimes to misdemeanors. Rachel Swan, reporter at the SF Chronicle, joins us for more. Finally, the Democratic Party is going through an identity crisis. Recent polls and focus groups of voters who supported President Biden are hard pressed to know what they currently stand for. Even passing the infrastructure bill and the Build Back Better plan in the House isn't fixing the issue as voters don't feel Biden is getting it done. David Siders, national political reporter at Politico, joins us for how the Democratic brand is broken. Learn more about your ad-choices at https://www.iheartpodcastnetwork.com

Daily Signal News
How to 'Persevere with Power' in These Dark Times

Daily Signal News

Play Episode Listen Later Nov 24, 2021 20:18


Looking at the country today, it's easy to fall into despair. As the radical left pushes policies and ideas leading to the degradation of our nation, it's hard not to lose hope.But the Rev. Samuel Rodriguez, president of the National Hispanic Christian Leadership Conference, says there's a way to keep going in the face of encroaching darkness: Rely on your own faith and fortitude."Your battle is truly between destiny and drama," Rodriguez says. "And when your hunger for righteousness is greater than your fear of criticism, nothing can stop you. When your integrity is more important to you than your influence, nothing can stop you."Rodriguez joins "The Daily Signal Podcast" to discuss his new book "Persevere With Power" and to give our listeners the hope they may need to get through these troubled times.We also cover these stories:The Biden administration asks a federal court to reinstate its COVID-19 vaccine mandate for businesses and other organizations with 100 or more employees.President Joe Biden announces he will release 50 million barrels of oil from the U.S. Strategic Petroleum Reserve to counter rising gas prices before Christmastime.Officials remove a statue of America's third president, Thomas Jefferson, from New York City Hall. See acast.com/privacy for privacy and opt-out information.

The John Batchelor Show
S4 Ep1823: Strategic Petroleum Reserve's 50 Million Gallons Is 2.5 Days of Gasoline for America. Bud Weinstein, @SMUCox_MEI. @TheHill

The John Batchelor Show

Play Episode Listen Later Nov 24, 2021 11:00


Photo:   500 Feet from the 2.C., the Largest Oil Well in the U.S.A.  Strategic Petroleum Reserve's 50 Million Gallons Is 2.5 Days of Gasoline for America. Bud Weinstein, @SMUCox_MEI. @TheHill  https://thehill.com/policy/energy-environment/582754-biden-to-release-50-million-barrels-from-strategic-petroleum  Bernard “Bud” Weinstein  @SMUCox_MEI, McGuire Energy Institute, Southern Methodist University.  Pianist.              

Real Vision Presents...
U.S. to Tap into 50M Barrels of Reserve Oil to Tame Rising Gas Prices

Real Vision Presents...

Play Episode Listen Later Nov 24, 2021 40:32


DB-Nov 23,2021:The U.S. Department of Energy announced it will release 50 million barrels of crude oil from the Strategic Petroleum Reserve to battle gas prices and tame inflation. Gold and silver prices have also slipped lately – so it may be time to be bullish. Tony Greer joins us once more for TG Tuesdays to discuss oil and gold on today's Daily Briefing. Interviewed by Ash Bennington. Want to submit questions? Drop them right here on the Exchange: https://rvtv.io/3xiaYGc Learn more about your ad choices. Visit megaphone.fm/adchoices

PBS NewsHour - Segments
How tapping strategic oil reserve will affect U.S. gas prices, OPEC+

PBS NewsHour - Segments

Play Episode Listen Later Nov 23, 2021 8:43


President Joe Biden is tapping an emergency stockpile of oil to stem a rising tide of energy prices. His order Tuesday draws 50 million barrels of crude oil from the nation's Strategic Petroleum Reserve. William Brangham begins the report, and Judy Woodruff speaks to Bob McNally of Rapidan Energy Group for how The Organization of the Petroleum Exporting Countries could react and more. PBS NewsHour is supported by - https://www.pbs.org/newshour/about/funders

The John Steigerwald Show
The John Steigerwald Show - Tuesday November 23, 2021

The John Steigerwald Show

Play Episode Listen Later Nov 23, 2021 51:48


Joe's Got This            Today:   Quit whining about gas prices.  The President is releasing 50 million barrels from the Strategic Petroleum Reserve to keep cost down.  But is it just a drop in the bucket?  Then, James Taylor, President of Heartland Institute talks about Biden releasing oil reserves along with rising gas prices.  Finally, 2nd Amendment expert Amy Swearer from the Heritage Foundation says the idea that whites are privileged as it relates to claiming self-defense is absurd. See omnystudio.com/listener for privacy information.

KNX In Depth
KNX In Depth: Will tapping the Strategic Petroleum Reserve help you to pay less at the pump? -- Coordinated smash-and-grab robberies, or opportunistic looters? -- Changing the course of an asteroid -- Can artificial intelligence be taught to be ethical?

KNX In Depth

Play Episode Listen Later Nov 23, 2021 49:07


Will some of the oil being taken out of the nation's strategic reserve eventually find its way into your gas tank.......and will it lower prices at the pump? The answer to both might be "no" ... but we'll go In Depth on President Biden's move to help ease record-high gas prices. Smash and grab thieves masquerading as looters have hit again, this time at The Grove -- but what is driving the increasing trend of these big, chaotic robberies at high-end stores? And.........why are more Americans saying they're unlikely to ever have kids? With Black Friday rapidly approaching, the most important question might be will stores have the stuff you want? Or will supply chain headaches get in the way? So ... what if you bought absolutely nothing? We'll talk with the "Buy Nothing Project..."  At then ... one day we'll likely have to deal with an asteroid headed for Earth .... and tonight there will be a launch from Southern California ... to see if we could push one of those big rocks off course. Learn more about your ad choices. Visit podcastchoices.com/adchoices

World Business Report
UPDATE: US taps Strategic Petroleum Reserve

World Business Report

Play Episode Listen Later Nov 23, 2021 15:22


US President Biden has been speaking about the state of economy. And, in a bid to bring down energy prices, the United States is to release fifty million barrels of oil from its strategic reserves. The action is being taken simultaneously with several other countries, and we assess the likelihood of success of the move at curbing inflation. Also in the programme, you'd imagine winning the lottery and spending the winnings would be an incredible feeling. But not for a nursery in Southern Mexico. Parents say they are being threatened by a gang following their $950,000 win - many have fled the area.

KGET 17 News
17 News @ Noon 11/23/2021

KGET 17 News

Play Episode Listen Later Nov 23, 2021 9:17


Noon Top Stories:-The Department of Energy will release 50 million barrels of oil from the nation's Strategic Petroleum Reserve, the White House announced Tuesday, as the Biden administration seeks ways to control rising costs at the pump.-Houchin Blood banks are empty, looking for donations-All adults eligible for COVID-19 boosters

The Ricochet Audio Network Superfeed
Three Martini Lunch: Tlaib's Extremism Exposed, Biden's Desperate Energy Move, Grifters Galore

The Ricochet Audio Network Superfeed

Play Episode Listen Later Nov 23, 2021


Join Jim and Greg as they applaud Jonathan Swan of Axios for exposing Rep. Rashida Tlaib’s plan to free every federal inmate within a decade. They also blast President Biden for acting like tapping the Strategic Petroleum Reserve is going to make any significant difference in energy policy or energy prices. And they unload on […]

The Charlie Kirk Show
Biden Regime Drains Strategic Petroleum Reserve

The Charlie Kirk Show

Play Episode Listen Later Nov 23, 2021 37:48


Charlie documents the breaking news that Joe Biden is moving the release 50 million barrels of the nation's strategic petroleum reserve (SPR) to help ease rising gas prices that are gouging Americans at the pump and sparking increasing inflationary pressures throughout the economy. Charlie documents the history of the SPR, why this measure will have little effect on lowering prices, and how the Biden Regime systematically created this crisis in the first place. But what is the regimes real end game? Charlie plays the tape and explains how America's independence and freedom is directly tied not only to cheap and abundant energy, but to private ownership of minerals and resources unlike anywhere else in the world.  Support the show: http://www.charliekirk.com/support See omnystudio.com/listener for privacy information.

Springfield's Talk 104.1 On-Demand
Nick Reed PODCAST: 11.23.21 - White House Goes After Florida Gov. DeSantis

Springfield's Talk 104.1 On-Demand

Play Episode Listen Later Nov 23, 2021 38:22


Hour 3 -  Nick Reed talks about a variety of topics in the news, including: President Biden said the Department of Energy will release 50 million barrels of oil held in the U.S. Strategic Petroleum Reserve, as Americans pay more for gas now than they have in years. Jen Psaki claimed Monday that Walt Disney World halting its employee vaccine mandate showed Florida Gov. Ron DeSantis has taken "steps backward" fighting the COVID-19 pandemic. A Texas youth football team was booted from the league in the middle of the playoffs for "being too good."

KGET 17 News
17 News @ Sunrise 11/23/2021

KGET 17 News

Play Episode Listen Later Nov 23, 2021 13:37


Top Stories:-President Joe Biden will tap the Strategic Petroleum Reserve as part of a global effort to calm a rapid rise in gas prices-Overnight the smash and grab trend continued at a Nordstrom in Los Angeles-Our local health department is reminding the public about the CDC's move to approve booster shots for all adults

Astra Report | WNTN 1550 AM | Grecian Echoes
Daily Global News - TUE NOV 23rd - U.S. to release oil from reserves to lower gas prices

Astra Report | WNTN 1550 AM | Grecian Echoes

Play Episode Listen Later Nov 23, 2021 12:32


Listen to the Daily Global #News from Grecian Echoes and WNTN 1550 AM.  The U.S. will release 50 million barrels of crude from the Strategic Petroleum Reserve, the White House said.  With just a few days to go before Thanksgiving, Covid-19 cases are on the rise across the US.  The Biden administration is weighing sending military advisers and new equipment including weaponry to Ukraine.  

Marketplace Morning Report
A smoked turkey business in Texas rises from the ashes

Marketplace Morning Report

Play Episode Listen Later Nov 23, 2021 8:40


Flames and explosions forced the shutdown of Greenberg Smoked Turkeys in Tyler, Texas last year. The company sold hundreds of thousands of turkeys every holiday season. Now, one year later, business appears to be booming, according to owner Sam Greenberg. President Biden announced today that the U.S. is releasing crude from the Strategic Petroleum Reserve. We have more details on what this means.

Marketplace All-in-One
A smoked turkey business in Texas rises from the ashes

Marketplace All-in-One

Play Episode Listen Later Nov 23, 2021 8:40


Flames and explosions forced the shutdown of Greenberg Smoked Turkeys in Tyler, Texas last year. The company sold hundreds of thousands of turkeys every holiday season. Now, one year later, business appears to be booming, according to owner Sam Greenberg. President Biden announced today that the U.S. is releasing crude from the Strategic Petroleum Reserve. We have more details on what this means.

Financial Issues
President Biden To Release 50 Million Barrels Of Oil From Strategic Petroleum Reserve

Financial Issues

Play Episode Listen Later Nov 23, 2021 93:59


The 11th Hour with Brian Williams
Day 307: Alex Jones and Roger Stone subpoenaed by Jan 6 committee

The 11th Hour with Brian Williams

Play Episode Listen Later Nov 23, 2021 43:27


The two right wing personalities were two of five subpoenas issued by the committee today. Meanwhile, President Biden re-nominated Jerome Powell to helm the Federal Reserve. And he is considering dipping into the Strategic Petroleum Reserve to lower gas prices. Yamiche Alcindor, Philip Rucker, Joyce Vance, Robert Gibbs, Tim Miller and Dr. Kavita Patel join.

Real Vision Presents...
A Brave New World: Biden Reappoints Powell Amid a Coordinated Strategic Oil Reserves Release

Real Vision Presents...

Play Episode Listen Later Nov 22, 2021 38:09


DB-Nov 22,2021:President Biden nominates Fed Chairman Jerome Powell for a second term. The question on everyone's mind is, what does it mean for the economy? Could Biden's pick signal that the administration is opting for policy continuity? Powell faces a completely different economy from when he was sworn in, and he will have to pivot from previous policies as inflation is at 6.2%, its highest in 31 years. The U.S is also hurting from supply and labor imbalances. In the economy, oil prices rose on news that OPEC+ could raise oil production if large consuming countries release crude from their reserves. President Biden is expected to release oil from the nation's Strategic Petroleum Reserve. Gary Brode, founder of Deep Knowledge Investing, sits down with Maggie Lake to discuss how the economy will fare once more under Powell, and what higher oil prices mean for investors and consumers. Interviewed by Maggie Lake. Want to submit questions? Drop them right here on the Exchange: https://rvtv.io/3oSPjk9 Learn more about your ad choices. Visit megaphone.fm/adchoices

From Washington – FOX News Radio
FOX News Rundown EXTRA: What Can Be Done To Bring Energy Prices Down?

From Washington – FOX News Radio

Play Episode Listen Later Nov 20, 2021 15:47


Energy prices have become a major burden for both consumers and the Biden administration.  The soaring gas prices have even forced the President to recently urge OPEC to increase oil production.  Several lawmakers, including Senate Majority Leader Chuck Schumer, are encouraging the administration to tap into the Strategic Petroleum Reserve and reverse some of their policies they say have exacerbate the problem.  Earlier in the week, Republican Congressman John R. Curtis of Utah's 3rd Congressional District joined host Jessica Rosenthal to discuss the high energy prices Americans are facing and why he believes the Biden administration has been offering the wrong solutions.  The Congressman also explained why Republicans must have a seat at the table during discussions surrounding climate issues. The original interview was too long and we couldn't include all of it in our segment. On The FOX News Rundown EXTRA, you will hear our entire conversation with Rep. Curtis and hear not just his take on America's energy concerns, but also his views on America's political divisions and his thoughts on 2022's midterms. 

The FOX News Rundown
FOX News Rundown EXTRA: What Can Be Done To Bring Energy Prices Down?

The FOX News Rundown

Play Episode Listen Later Nov 20, 2021 15:47


Energy prices have become a major burden for both consumers and the Biden administration.  The soaring gas prices have even forced the President to recently urge OPEC to increase oil production.  Several lawmakers, including Senate Majority Leader Chuck Schumer, are encouraging the administration to tap into the Strategic Petroleum Reserve and reverse some of their policies they say have exacerbate the problem.  Earlier in the week, Republican Congressman John R. Curtis of Utah's 3rd Congressional District joined host Jessica Rosenthal to discuss the high energy prices Americans are facing and why he believes the Biden administration has been offering the wrong solutions.  The Congressman also explained why Republicans must have a seat at the table during discussions surrounding climate issues. The original interview was too long and we couldn't include all of it in our segment. On The FOX News Rundown EXTRA, you will hear our entire conversation with Rep. Curtis and hear not just his take on America's energy concerns, but also his views on America's political divisions and his thoughts on 2022's midterms. 

Lock N Load with Bill Frady podcast
GunOwners News Hour with Bill Frady Ep 171

Lock N Load with Bill Frady podcast

Play Episode Listen Later Nov 18, 2021 39:51


Free States Must Defend the Right to Self-Defense, The Unvaccinated: An Inconvenient Control Group in a Sinister Social Experiment, All He Had Was a Handgun, Something very peculiar is happening with our Strategic Petroleum Reserve.

The FOX News Rundown
What's Driving Our High Energy Prices?

The FOX News Rundown

Play Episode Listen Later Nov 18, 2021 27:53


Energy prices have become a major headache for the Biden administration, with the soaring gas prices forcing the President to urge OPEC to increase oil production. Several lawmakers are encouraging the administration to tap into the Strategic Petroleum Reserve. Republican Congressman John R. Curtis of Utah's 3rd Congressional District joins to discuss the high energy prices Americans are facing and why he believes the Biden administration has been offering the wrong solutions. He goes on to explain why Republicans must have a seat at the table during discussions surrounding energy and climate issues and his hope that the parties can come together on important issues.   The CDC is busy with much more than the COVID-19 pandemic. The agency is also tracking a serious drug problem in the U.S. For the first time ever the CDC  data shows that in a 12-month period more 100-thousand Americans have died due to drug overdoses -- an almost 29-percent increase from the year before. Authorities are also seeing an increase in lethal fentanyl laced drugs being distributed across the country. Many district attorneys in California including in Orange County, will now pursue murder charges against drug dealers, if someone dies as a result of using drugs linked to them. Former DC police detective, defense attorney and FOX News contributor, Ted Williams weighs in.   Plus, commentary by Guy Benson, host of The Guy Benson Show.

From Washington – FOX News Radio
What's Driving Our High Energy Prices?

From Washington – FOX News Radio

Play Episode Listen Later Nov 18, 2021 27:53


Energy prices have become a major headache for the Biden administration, with the soaring gas prices forcing the President to urge OPEC to increase oil production. Several lawmakers are encouraging the administration to tap into the Strategic Petroleum Reserve. Republican Congressman John R. Curtis of Utah's 3rd Congressional District joins to discuss the high energy prices Americans are facing and why he believes the Biden administration has been offering the wrong solutions. He goes on to explain why Republicans must have a seat at the table during discussions surrounding energy and climate issues and his hope that the parties can come together on important issues.   The CDC is busy with much more than the COVID-19 pandemic. The agency is also tracking a serious drug problem in the U.S. For the first time ever the CDC  data shows that in a 12-month period more 100-thousand Americans have died due to drug overdoses -- an almost 29-percent increase from the year before. Authorities are also seeing an increase in lethal fentanyl laced drugs being distributed across the country. Many district attorneys in California including in Orange County, will now pursue murder charges against drug dealers, if someone dies as a result of using drugs linked to them. Former DC police detective, defense attorney and FOX News contributor, Ted Williams weighs in.   Plus, commentary by Guy Benson, host of The Guy Benson Show.

CFR On the Record
Academic Webinar: Energy Policy and Efforts to Combat Climate Change

CFR On the Record

Play Episode Listen Later Nov 17, 2021


Jason Bordoff, cofounding dean, Columbia Climate School, founding director of the Center on Global Energy Policy, and professor of professional practice in international and public affairs at Columbia University, leads a conversation on energy policy and efforts to combat climate change.   FASKIANOS: Welcome to today's session of the CFR Fall 2021 Academic Webinar Series. I am Irina Faskianos, vice president of the National Program and Outreach here at CFR. Today's discussion is on the record. And the video and transcript will be available on our website, CFR.org/academic. As always, CFR takes no institutional positions on matters of policy. We are delighted to have with us today Jason Bordoff to talk about energy policy and efforts to combat climate change. Jason Bordoff is cofounding dean of the Columbia Climate School, founding director of the Center on Global Energy Policy, and professor of professional practice in international and public affairs at Columbia University. He previously served as special assistant to President Obama and senior director for energy and climate change on the National Security Council, and he has held senior policy positions on the White House's National Economic Council and Council on Environmental Quality. He is a columnist for Foreign Policy magazine and is often on TV and radio. So, we're really happy to have him with us today. So, Jason, thank you very much. We are just coming off the COP26 conference that took place in Glasgow that started on October 31, I believe, and concluded last Friday, November 12. Could you talk about what came out of the conference at a high level, if you think that the agreements that were reached went far enough or didn't go far enough, and what your policy recommendations are to really advance and fight the countdown that we have to the Earth warming? BORDOFF: Yeah. Thanks. Well, first, thanks to you, Irina, and thanks to CFR for the invitation to be with you all today. Really delighted to have the chance to talk about these important issues. I was there for much of the two-week period in Glasgow representing the Energy Center and the Climate School here at Columbia. I think it's kind of a glass half-full/glass half-empty outlook coming out of Glasgow. So I think the Glasgow conference was notable in several respects. We'll look back on it, I think, and some of the things we will remember are—some of the things we'll remember—(dog barking)—sorry—are the role of the private sector and private finance, I think, was much more prominent in Glasgow this year. I think there were commitments around some important things like methane, a very potent greenhouse gas, was much higher on the priority list in this U.N. climate meeting than in prior ones. You had pledges on deforestation and other things that are important. And then the final agreement did have some important elements to it, particularly around Article 6, how you design carbon markets around the world. But the glass half-empty outlook is still we are nowhere close to being on track for the kind of targets that countries and companies are committing to: net zero by 2050 or 1.5 degrees of warming. I think there were—there should be hope and optimism coming out of COP. The role of the youth—at Columbia, we were honored to organize a private roundtable for President Obama with youth climate activists. It's hard to spend time with young people in COP or on campus here at Columbia or anywhere else and not be inspired by how passionately they take these issues. So the activism you saw in the streets, the sense of urgency among everyone—activists, civil society, governments, the private sector—felt different, I think, at this COP than other COPs that I have attended or probably the ones I haven't attended. But there was also for some I saw kind of we're coming out of this and we're on track for below two degrees. Or, you know, Fatih Birol, the head of the International Energy Agency, tweeted that when you add up all the pledges we're on track for 1.8 degrees Celsius warming. He's talking about all of the pledges meaning every country who's promised to be net zero by 2050, 2060, 2070, and at least from my standpoint there's a good reason to take those with a grain of salt. They're not often backed up by concrete plans or ideas about how you would get anywhere close to achieving those goals. So it's good that we have elevated ambition, which is kind of one of the core outcomes of the COP in Glasgow. But it is also the case that when you elevate ambition and the reality doesn't change as fast or maybe faster than the ambition is changing, what you have is a growing gap between ambition and reality. And I think that's where we are today. Oil use is rising each and every year. Gas use is rising. Coal use is going up this year. I don't know if it's going to keep going up, but at a minimum it's going to plateau. It's not falling off a cliff. So the reality of the energy world today—which is 75 percent of emissions are energy—is not anything close to net zero by 2050. It is the case that progress is possible. So if you go back to before the Paris agreement, we were on track for something like maybe 3.7 degrees Celsius of warming. If you look at a current outlook, it's maybe 2.7, 2.8 (degrees), so just below three degrees. So progress is possible. That's good. If you look at the nationally determined contribution pledges—so the commitments countries made that are more near term, more accountability for them; the commitments they made to reduce emissions by 2030, their NDCs—we would be on track for about 2.4 degrees Celsius warming, assuming all those pledges are fulfilled. But history would suggest a reason to be a little skeptical about that. The U.S. has a pledge to get to a 50 to 52 percent reduction in emissions by 2030, and look at how things are working or not working in Washington and make your own judgment about how likely it is that we'll put in place the set of policies that would be required to get to that ambitious level of decarbonization by 2030. And I think the same healthy dose of skepticism is warranted when you look elsewhere in the world. But even if we achieve all of those, we're still falling short of below two degrees, nevertheless 1.5 (degrees). And so, again, I think the outcome from COP for me was optimism that progress is possible—we have made a lot of progress in the last ten years—but acute concern that we're nowhere close to being on track to take targets like 1.5 degrees Celsius or net zero by 2050 seriously. And we just need to be honest as a climate and energy community—and I live in both of those worlds; there's a lot of overlap between them, obviously—about how hard it is to achieve the goals we are talking about. Renewables have grown incredibly quickly. Optimistic headlines every day about what is happening in solar and wind. Costs have come down more than 90 percent. Battery costs have come down more than 90 percent in the last decade. But solar and wind create electricity, and electricity is 20 percent of global final energy consumption. The outlook for electric vehicles is much more promising today. Lots of companies like Ford and others are committing to be all-electric by a certain date ten or twenty years from now. Cars are 20 percent of global oil demand. About half of the emission reductions—cumulative emission reductions between now and 2050 will need to come from technologies that are not yet available at commercial scale and sectors of the economy that are really hard to decarbonize like steel and cement and ships and airplanes. We're not—we don't have all the tools we need to do those yet. And then, in Glasgow, the focus of a lot of what we did at Columbia was on—we did a lot of different things, but one of the key areas of focus was the challenge of thinking about decarbonization in emerging and developing economies. I don't think we talk about that enough. The issue of historical responsibility of loss and damage was more on the agenda this year, and I think you'll hear even more about it in the year ahead. The next COP is in Africa. There was growing tension between rich and poor countries at this COP. I think a starting point was what we see in the pandemic alone and how inequitable around the world the impacts of the pandemic are. Many people couldn't even travel to Glasgow from the Global South because they couldn't get vaccinated. We need, between now and 2050, estimates are—a ballpark—$100 trillion of additional investment in clean energy if we're going to get on track for 1.5 (degrees)/net zero by 2050. So the question that should obsess all of us who work in this space: Where will that money come from? Most of it's going to be private sector, not public. Most of it is going to be in developing and emerging economies. That is where the growth in energy is going to come from. Eight hundred million people have no access to energy at all. Nevertheless, if you model what energy access means, it's often defined as, you have enough to turn on lights or charge your cellphone. But when you talk about even a fraction of the standard of living we take for granted—driving a car, having a refrigerator, having an air conditioner—the numbers are massive. They're just huge, and the population of Africa's going to double to 2.2 billion by the year 2050. So these are really big numbers and we need to recognize how hard this is. But we should also recognize that it is possible. We have a lot of the tools we need. We need innovation in technology and we need stronger policy, whether that's a carbon price or standards for different sectors. And then, of course, we need private-sector actors to step up as well, and all of us. And we have these great commitments to achieve these goals with a lot of capital being put to work, and now we need to hold people accountable to make sure that they do that. So, again, I look back on the last two weeks or before, two weeks of COP, the gap between ambition and reality got bigger. Not necessarily a bad thing—ambition is a good thing—but now it's time to turn the ambition into action. We need governments to follow through on their pledges. Good news is we have a wide menu of options for reducing emissions. The bad news is there's not a lot of time at our current rate of emissions. And emissions are still going up each and every year. They're not even falling yet. Remember, what matters is the cumulative total, not the annual flow. At our current rate of emissions, the budget—carbon budget for staying below 1.5 (degrees) is used up in, around a decade or so, so there's not much time to get to work. But I'm really excited about what we're building with the first climate school in the country here at Columbia. When it comes to pushing—turning ambition into action, that requires research, it requires education, and it requires engaging with partners in civil society and the public sector and the private sector to help turn that research into action. And the people we're working with here every day on campus are the ones who are going to be the leaders that are going to hopefully do a better job—(laughs)—than we've done over the last few decades. So whatever you're doing at your educational institution—be it teaching or research or learning—we all have a role to play in the implementation of responsible, forward-thinking energy policy. I'm really excited to have the chance to talk with you all today. Look forward to your questions and to the conversation. Thank you again. FASKIANOS: Jason, that's fantastic. Thank you very much for that informative and sobering view. So let's turn to all of you now for your questions. So I'm going to go first to—I have one raised hand from Stephen Kass. Q: OK. Thank you. Jason, thank you for the very useful and concise summary. What specific kinds of energy programs do you think developing countries should now be pursuing? Should they be giving up coal entirely? Should they be importing natural gas? Should they be investing in renewables or nuclear? What recipe would you advise developing countries to pursue for their own energy needs? BORDOFF: It's going to need to be a lot of different things, so there's no single answer to that, of course. And by the way, I'll just say it would be super helpful if people don't mind just introducing yourself when you ask a question. That would be helpful to me, at least. I appreciate it. I think they need to do a lot of different things. I think I would start with low-hanging fruit, and renewable electricity is not the entire answer. The sun and wind are intermittent. Electricity can't do certain things yet, like power ships and airplanes. But the low cost of solar and wind, I think, does mean it's a good place to start, and then we need to think about those other sectors as well. I think a key thing there comes back to finance, and that's why we're spending so much time on it with our research agenda here. Access to financing and cost of capital are really important. Clean energy tends to be more capital-intensive and then, like solar and wind, more CAPEX, less OPEX over time. But attaining financing in poor countries is really difficult and expensive. Lack of experience with renewable energy, local banks are often reluctant to lend to those kinds of projects. And then foreign investors, where most of that capital is going to come from, view projects often in emerging markets and developing economies particularly as more risky. Local utilities may not be creditworthy. There's currency inflation risk in many developing countries, people worry about recouping their upfront investment if bills are paid in local currency. There's political risk, maybe corruption, inconsistently enforced regulations. And it can be harder to build clean energy infrastructure if you don't have other kinds of infrastructure, like ports, and roads, and bridges and a good electrical grid. So I would start there. And I think there's a role for those countries to scale up their clean energy sectors, but also for policymakers and multilateral development banks and governments elsewhere—there was a lot of focus in Glasgow on whether the developed countries would make good on their promise made in Copenhagen to send $100 billion a year in climate finance to developing countries. And they fell short of that. But even that is kind of a rounding error, compared to the one to two trillion (dollars) a year that the International Energy Agency estimates is needed. So there are many other things besides just writing a check that government, like in the U.S. or elsewhere, can do. The Development Finance Corporation, for example, can lend to banks in local and affordable rates, finance projects in local currency, expand the availability of loan guarantees. I've written before about how I think even what often gets called industrial policy, let's think about some sectors—in the same way China did with solar or batteries fifteen years ago. Are there sectors where governments might help to grow domestic industries and, by doing that, scale—bring down the cost of technologies that are expensive now, the premium for low-carbon or zero-carbon cement or steel. It's just—it's not reasonable to ask a developing country to build new cities, and new highways, and all the new construction they're going to do with zero-carbon steel and cement because it's just way too expensive. So how do you bring those costs down? If we think about investments, we can make through U.S. infrastructure or other spending to do that, that not only may help to grow some domestic industries and jobs here, that can be its own form of global leadership if we're driving those costs of those technologies down to make it cheaper for others to pick up. So I think that's one of the places I'd start. But there are a lot of other things we need to do too. FASKIANOS: Thank you. I'm going to take the next question—and let me just go back. Stephen Kass is an adjunct professor at NYU. So the next question is a written question from Wei Liang, who is an assistant professor of international policy studies at Middlebury Institute of International Studies at Monterey. And the question is: I wonder if you could briefly address the Green Climate Fund and individual countries' pledge on that. BORDOFF: Yeah, I mean, it touches a little bit on what I said a moment ago about the need for developed countries to provide climate finance to developing countries. And so I think that's—it's important that we take those obligations seriously, and that we, in advanced economies, step up and make those funds available. And but, again, we're talking—the amount we're still talking about is so small compared to the amounts that are needed to deal both with the impacts of climate change, and then also to curb climate change, to mitigate climate change. Because we know that developing countries are in the parts of the world that will often be most adversely impacted by climate impacts—droughts, and heat waves, and storms, and food security issues—from a standpoint of equity are the parts of the world that have done the least to cause this problem, responsible for very few emissions. If you look cumulatively at emissions since the start of the industrial age, about half—nearly half have come from the U.S. and EU combined. Two percent from the entire continent of Africa. So they are using very little energy today, haven't therefore contributed to the problems, and have the fewest resources, of course, to cope with the impacts, and also to develop in a cleaner way. Sometimes it's cheaper to develop in a cleaner way. Renewables are often today competitive with coal, even without subsidy. But there are many areas where that's not the case, and there is a cost. And we need to help make sure that, you know, we're thinking about what a just transition looks like. And that means many different things for different communities, whether you're a coal worker or an agricultural worker in California that may, you know, be working outside in worse and worse heat. But it also means thinking about the parts of the world that need assistance to make this transition. So I think we need to be taking that much more seriously. FASKIANOS: Next question is a raised hand from Tara Weil, who is an undergraduate student at Pomona College. Q: Hi. So, given that developed nations are the largest contributors to carbon emissions, as you've said, how can larger powers be convinced as to the importance of addressing global inequality with regards to climate change? And thank you so much, also, for giving this talk. BORDOFF: Yeah. Thank you for being here. I don't have a great answer to your question. I mean, the politics of foreign aid in general are not great, as we often hear in events at CFR. So I do think one—we need to continue to encourage, through political advocacy, civil society, and other ways, governments in advanced economies to think about all the tools they have at their disposal. I think the ones that are going to be—I'm reluctant to try to speak as a political commenter rather than a climate and energy commenter on what's going to work politically. But part of that is demonstrating what—it's not just generosity. It is also in one's self-interest to do these things. And just look at the pandemic, right? What would it look like for the U.S. to show greater leadership, or any country to show even greater leadership and help cope with the pandemic all around the world in parts of the world that are struggling to vaccinate their people? That is not only an act of generosity, but it is clearly one of self-interest too, because it's a pretty globalized economy and you're not going to be able to get a pandemic under control at home if it's not under control abroad. Of course, the same is true of the impacts of climate change. It doesn't matter where a ton of CO2 comes from. And we can decarbonize our own economy, but the U.S. is only 15 percent of annual emissions globally. So it's not going to make a huge difference unless everyone else does that as well. There is also the potential, I think, to—and we see this increasingly when you look at the discussion of the Biden infrastructure bill, how they talk about the U.S.-China relationship, which of course are the two most important countries from the standpoint of climate change. It is one of cooperation. That was one of the success stories in Glasgow, was a commitment to cooperate more. We'll see if we can actually do it, because it's a pretty difficult and tense U.S.-China relationship right now. So the question is, can you separate climate from all those other problems on human rights, and intellectual property, and everything else and then cooperate on climate? It's been hard, but there's a renewed commitment to try to do that. But also, a recognition that action in the clean energy space is not only about cooperation but it's also about economic competition. And you have seen more and more focus on both the Republican and Democratic sides of the aisle on thinking about the security of supply chains, and critical minerals, and the inputs in lithium and rare earth elements that go into many aspects of clean energy. To my point before about aspects of industrial policy that might help grow your own domestic economy, I think there are ways in which countries can take measures that help—that help their own economies and help workers and help create jobs, and that in the process are helping to drive forward more quickly the clean energy technologies we need, and bring down the cost of those technologies to make them more accessible and available in some of the less-developed countries. So I think trying to frame it less as do we keep funds at home, do we write a check abroad? But there are actually many steps you could do to create economic opportunities and are win-win. Without being pollyannish about it, I think there is some truth to some of those. And I think we can focus on those politically as well. FASKIANOS: Thank you. I'm going to take an international question from Luciana Alexandra Ghica, who is an associate professor for international cooperation at the University of Bucharest. What type of topics do you think we should address immediately in university programs that provide training in climate, development, global policies, or international public affairs, so that a new generation of leaders really pushes forward the agenda on climate change? BORDOFF: Yeah. Well, I'll say a quick word about what we're doing at Columbia, and maybe it's relevant to that question, because Columbia has made this historic commitment to build a climate school. There are many initiatives, and centers, and institutes. There was not only a handful of schools—law school, business school, medical school, engineering school. And it is the largest commitment a university can make to any particular topic, is something on the scale of a school with degree-granting authority and tenure-granting authority, and all the things that come with a school. And it's just the scale at a place like Columbia, and many other places, is just enormous. That's what we're doing on climate. We have created a climate school. And I'm honored President Bollinger asked me to help lead it. And we're going to build a faculty. We have our first inaugural class of masters' students, about ninety students that are going through the program right now, and we have a building in Manhattan for the climate school, and on and on. The idea—but the question is, what is climate, right? Because academia has been historically organized into traditional academic disciplines. So you have people who you hire through a tenured search, and they go to the engineering faculty and build their lab there. And there's law professors, and their business school professors, and on and on and on, social work. But for climate, you need all of those, right? They all kind of need to come together. And, like, interdisciplinary doesn't even sort of do justice to what it means to think about approaching this systemic—it's a systemic challenge. The system has to change. And so whatever solution you're talking about—if you want to get hydrogen to scale in the world, let's—you know, for certain sectors of the economy that may be hard to do with renewable energy, or in terms of renewable energy and, say, green hydrogen. You need engineering breakthroughs to bring down the cost of electrolyzers, or you need new business models, or you need financial institution frameworks that figure out how you're going to put the capital into these things. You need the policy incentives. How are you going to—you need permitting and regulation. How do we permit hydrogen infrastructure? It's barely been done before. There are concerns in the environmental justice community about some aspects of technologies like that or carbon capture that need to be taken seriously and addressed. There are geopolitical implications, potentially, to starting to build a global trade in ammonia or hydrogen, and what security concerns—energy security concerns might accompany those, the way we thought about oil or gas from Russia into Europe. I have an article coming out in the next issue of Foreign Affairs about the geopolitics of the energy transition. So we need disciplines that come together and look at a problem like that in all of those multifaceted dimensions, so we can figure out how to get from a lab to scale out in the world. And so when we think about the areas of concentration here, climate finance, climate justice, climate in society, climate in international security—I mean, a range of things that I think are really important to help people understand. And that's going to be a major focus of what we do at the climate school here. FASKIANOS: Fantastic. Let's go next to Sean Grossnickle, who has raised his hand. A graduate student at Fordham University. Q: Speak now? Hi, this is not Sean but Henry Schwalbenberg, also at Fordham, where I teach in our international political economy and development program. I went to a conference about a month ago in Rome. And there was a physicist from CERN. And he was a big advocate of something I'd never heard of, and this is this thorium for nuclear reactors. And he was going through all the pros, but I wanted a more balanced perspective on it. And I'm hoping that you might give me a little pros and cons of this thorium nuclear reactor technique. BORDOFF: Yeah. I will be honest and say that nuclear is not my area of focus. We have a pretty strong team here that works in nuclear, and I think is optimistic about the breakthroughs we're going to see in several potential areas of nuclear—advanced nuclear technology, that being one of them, or small modular reactors, and others. At a high level, I will say I do think if you're serious about the math of decarbonization and getting to net zero by 2050, it's hard to do without zero-carbon nuclear power. It's firm, baseload power. It runs all the time. Obviously, there are challenges with intermittency of solar and wind, although they can be addressed to some extent with energy story. Most of the analyses that are done show not necessarily in the U.S. but in other parts of the world significant growth in nuclear power. The International Energy Agency just modeled what it looks like to get to net zero by 2050, and this pathway that got a lot of attention for saying things like we would not be investing in new oil and gas supply. The world has to change a lot pretty quickly. And they have about a hundred new nuclear plants being built by 2030, so that's a pretty big number. So we're going to need all tools—(laughs)—that we have at our disposal. And unfortunately, I worry we may still fall short. So I think at a high level we need to think really hard about how to improve nuclear technology. The people who know that really well I think are optimistic about our ability to do that. And I will follow up on thorium in particular with my colleagues at Columbia, and happy to follow up with you offline about it. FASKIANOS: Great. I'm going to take a written question from Stephen Bird, who's an associate professor of political science at Clarkson University. He thanks you, and he wanted you to talk a little bit more about political will. The overall dollar amounts are clear. Much cheaper to address climate change than to ignore it. That said, countries are, clearly, lagging. Is it a case of countries just don't want to take action now because of issues of fairness or because of lack of domestic political support, i.e., citizens aren't convinced that they should pay costs now with payoffs that come later, and what might we do to improve that issue in terms of persuading or arguing for more political will? BORDOFF: Yeah. It's a question for, you know, a political scientist as much as an energy or climate expert, and I wish I had a better answer to it. I think it is—climate is one of the trickiest problems for so many reasons but one of those is there is no acute event now that you sort of respond to, hopefully, and pull everyone together. It's a set of things that, you know, of course, there would have been storms and droughts before but we know they're intensified and made worse. It's hard to rally public support. We often respond to a crisis kind of proverbial, you know, frog in the boiling water kind of thing. So that makes it hard. There are huge issues—we talked about a just transition a few minutes ago—there are huge issues with intergenerational equity when we talk about climate. There are, clearly, climate impacts and damages today but some of the worst will be in the future, including for people who may not be born yet, and we don't do a great job in our political environment about thinking about those and valuing them today and how you do that, and from an economic standpoint, of course, there are questions about discount rates you apply and everything else. I think, politically, one of the things that has mobilized stronger climate—support for climate action, so it is encouraging that if you look at polling on climate change, the level of urgency that the public in many countries, including the U.S., broadly, ascribe to acting on climate has gone up a lot. It's higher today than it was, you know, a decade or so ago. That's a result of people seeing the impacts and also advocacy campaigns and political campaigns. It is often tied to—it's like a win-win. Like, President Biden says when he thinks of climate he thinks of jobs, and so we're going to deal with climate and we're going to grow the economy faster and we're going to create jobs, and there is truth to that. It is also the case that there are costs. The cost of inaction are higher, but there are costs associated with the transition itself. So if you survey the American public, I think, climate, according to the latest YouGov/Economist poll I saw, you know, it was number two on the list of things they cared the most about. That's much higher than in the past. And then if you ask the American public are they willing to pay $0.25 a gallon more at the pump to act on climate, 75 percent say no. And you look at the challenges the Biden administration is having right now sort of thinking about a really strong set of measures to put in place to move the ball forward on climate, but acute concern today about where oil prices are and inflation and natural gas prices as we head into the winter. If the weather is cold then it's going to be really expensive for people to heat their homes in parts—some parts of the country like New England, maybe. So that's a reality, and I think we need to—it was interesting, in the roundtable we did with President Obama with climate activists, that was a message he had for them. You know, be impatient, be angry, keep the pressure on, but also be pragmatic. And by that he means, like, you know, try to see the world through the eyes of others and people who are worried about the cost of filling up at the pump, the cost of paying their heating bills. They're not—some of them may not be where you are yet. They may not have the same sense of urgency with acting on climate that many of us on this Zoom do and need to take those concerns seriously. So I think that's a real challenge, and it can be addressed with good policy, to some extent, right, if you think about the revenue raised from a carbon tax and how it could be redistributed in a way that reduce the regressive impacts. I've written about how, at a high level—I'll say one last point—if we get on track for an energy transition, which we're not on yet, right. (Laughs.) Oil and gas use are going up each and every year. But imagine we started to get on track where those were falling year after year. It's still going to take decades, and that process of transition is going to be really messy. It's going to be really volatile. We're going to have fits and starts in policy from Obama to Trump to Biden. We're going to make estimate—we're going to make bets on technologies and maybe get those technologies wrong or misunderstand the cost curves, the potential to shut down investment in certain forms of energy before the rest are ready to pick up the slack. If it's messy and volatile and bumpy, that's not only harmful economically and geopolitically, it will undermine public support for stronger climate action. So you see, like, in Washington they're selling off the Strategic Petroleum Reserve because we're moving to a world beyond oil and also we have all this domestic oil now with shale. We need more, not fewer, tools to mitigate volatility for the next several decades if we're serious about making this transition, and I think the same is true for thinking about sort of buffers you could build into geopolitics, foreign policy, and national security, because there will be—in a post-oil and gas world, you know, you may say, well, we're not going to worry as much about the Middle East or about, you know, Russia's leverage in Europe. But there will be new risks created and we can talk about what some of those might be, and we need new tools of foreign policy to mitigate those potential foreign policy risks. FASKIANOS: Thank you. I'm going to take the next question. Raised hand from Chloe Demrovsky, adjunct instructor at NYU. Q: Hey, can you hear me? BORDOFF: Yes. Thank you. FASKIANOS: Yes. Q: Hi. Chloe Demrovsky, adjunct at NYU and president and CEO of Disaster Recovery Institute International. Thanks for being with us, Jason. So my question is about the feasibility and your thoughts on artificially altered clouds or solar geoengineering. What are the ethical and geopolitical implications of, perhaps, using this to buy a little time for our energy transition? Thanks. BORDOFF: Yeah. A super interesting question, and I will say, again, I'm sort of—think of myself as an energy expert. So that is where I spend more time than thinking about tools like solar geoengineering. I guess, it seems there's, obviously, huge risks associated with something like that and we need to understand them. We need to do research. We need to figure out what those risks may be. There are global governance concerns. It's actually pretty cheap to do solar geoengineering. So what happens when some country or some billionaire decides they want to start spraying stuff into the atmosphere to cool the planet? And for those who don't know that, you know, solar—I mean, you think of after a volcano the planet cools a little bit because of all the particulates up in the atmosphere. When you model in an energy system model how much phasing out coal will reduce warming, you, obviously, have much less carbon dioxide emissions but that's offset slightly—not completely, of course—it's offset a little bit by the fact that you have less local air pollution, which is a good thing from air pollution. But air pollution has a slightly cooling effect, because you have these little particles floating around that reflect sunlight. So the idea is can we create that artificially and cool the planet, and you can imagine lots of reasons why that could go wrong when you're trying to figure out what—how much to put in there, what unintended consequences could be. You still have other impacts of carbon dioxide like ocean acidification. Maybe you go too far in one direction, that's like you're setting the thermostat. That's why one of the companies doing carbon removal is called Global Thermostat. You're kind of figuring out what temperature it should be. But I will say so it's an area that needs research and I think, given how far we are away from achieving goals like 1.5 and net-zero 2050, I guess what I would say is in the same way that when I worked in the Obama administration it was—I wouldn't say controversial, but there were some people who didn't want to talk about adaptation because it was kind of a more—there was a moral hazard problem there. It was, you know, less pressure to mitigate and reduce emissions if we thought adaptation was a solution. People worry about that from the standpoint of solar geoengineering. But the likelihood—I hope I'm wrong, but the likelihood that we roll the clock forward, you know, later this decade and we realize we've made progress but we're still pretty far short, and the impacts of climate change in the same way the IPCC 1.5 report said, you know what, 1.5 is going to be pretty bad, too, and that's even worse than we thought, the more we learn about climate the more reason there is to be concerned, not less concerned. It seems very plausible to me that we will kind of come to a growing consensus that we have to think about whether this technology can, as you said, buy us time. This is not something you do permanently. You need to get to net zero to stop global warming. But if you want to reduce the impacts of warming on the rate of Arctic sea ice melt and all the rest, can you buy time, extend the runway, by doing this for some number of decades. And I think—I don't have a strong view on the right answer to that. But I think it's something we, certainly, need to be thinking about researching and understanding what the consequences would be because we're going to have to figure out how to take more abrupt actions to close that gap between ambition and reality unless the reality starts to change much more quickly than is the case right now. FASKIANOS: Thank you. I saw a raised hand from Maya but she lowered it. So if you want to raise your hand again, please do so. And in the meantime, I'm going to take a written question from Jennifer Sklarew, who's an assistant professor of energy and sustainability at George Mason University. Was CCS/CCUS, which carbon capture and storage/carbon capture utilization and storage, to write out those acronyms, promoted as a climate change solution in Glasgow and was there a pushback against this technology option as both a climate change solution and a support mechanism for continued fossil fuel use? BORDOFF: There was some pushback but, I think, actually, more in the other direction. So I think there has been a growing recognition from many in the climate world that carbon capture technology, carbon removal technology, need to be part of the solution. I think there's almost no climate model at this point that shows how you would get to 1.5 degrees or net zero—1.5 degrees without huge amounts of negative emissions—carbon removal. Some of that can be nature based, but a lot of it will be—some of it will be technology based as well and focusing on what we care about, which is the emissions, is the most important thing. So and this is not, I don't think, the primary thing you're going to do. You want to do the things that are easiest and cheapest and present the fewest risks. So putting a lot of renewables into the grid, getting electrification into the vehicle fleet—there's a lot of things that you would do before that. But if you think about some of the sectors in the economy we talked about before that are hard to decarbonize like steel and cement, it may well be the case that carbon capture is part of the technology there. There was a big announcement yesterday from the NET Power Allam Cycle gas plant in Texas that they had finally come online with delivering net-zero power to the grid. It was sort of a milestone in that technology. So we need to advance this technology and figure out how we're going to—how we're going to get where we need to be. We need to hold that kind of technology accountable to make sure that it's actually meeting the standards we're talking about so that it actually is very low, if not zero, carbon. But if you look at, you know, most of the scenarios I'm aware of, whether it's—Princeton did the study “Net-Zero America,” how we get to net zero by 2050 in the U.S. The International Energy Agency, as I said, did it for net zero globally. There is a meaningful role for carbon capture, to some extent, in the power sector in these heavy industry sectors like steel and cement, and then making, say, hydrogen some of that will be blue hydrogen. Most of it, eventually, will be green, but there may be some role for blue hydrogen, which is—which is gas with carbon capture. So I think, if anything, there's been a growing understanding that we need all tools on deck right away and, again, I fear even with all the tools we may still fall short. FASKIANOS: Great. There's a written question from Laila Bichara, who's at SUNY Farmingdale, international business. There was a New York Times article, “Business Schools Respond to a Flood of Interest in ESG,” talking about the issue of the scarcity of skills in recent graduates to help with social impact, sustainable investments, climate finance, and social entrepreneurship. And she wanted to know if there are resources that you could point the group to in terms of foundation courses or certification that would provide all students with a basic foundation. BORDOFF: Yeah. That's a really good question and it's a growing area of focus and I think universities should be doing more in. The Tamer Center of Columbia Business School does a lot of work in ESG. We hosted a really interesting roundtable at the Center on Global Energy Policy yesterday on ESG and actually been doing a lot of work thinking about that in the context of state-owned enterprises and national oil companies, which we don't talk about enough. But they're a really, really big part of the problem we're talking about. We tend to focus more on these very well-known private sector companies or financial institutions in places like New York. So there—Bloomberg Philanthropies has done a huge amount in this space. I think there's some really good educational programs with some universities and business schools that have done a lot in the ESG space. But I think it's a need, to be frank. I mean, the fact that you're asking the question and I'm pointing to a few examples, but not a huge number, and it is something that universities need to educate themselves about but then is an opportunity for us to educate others. Maybe a revenue one, too, with executive education or something. But there's a lot of companies and financial institutions that want to understand this better. I worry that while there's a huge growing focus on climate, which is a good thing, in the financial community, the phrase ESG kind of means so many different things right now. It's this alphabet soup of regulations and standards and disclosure requirements, and some may make a difference and some may not and it's hard to figure out which ones matter, and for people who want to do the responsible thing what does that really mean. That's an area where research is needed. I mean, that's a role for what we do every day to think about if the SEC is going to regulate what makes a difference and what doesn't, if you're going to create green bonds. If you're going to call everything green in the finance community, what's real and what's not? What moves the needle? What doesn't? What are the returns for greener portfolios? How is that affecting the cost of capital for clean energy versus dirty energy? You know, on and on. I think those are important research questions for us to take on and then it's our job to help educate others as well. FASKIANOS: Great. So the next question I'm going to take from—oh, OK. Good. Maya Copeland (sp) has written her question. She's a political science major at Delaware State University. Do you believe developed nations like the U.S. have done a lot in reference to climate change or mostly talk? If you believe nations like the U.S. have dropped the ball in this aspect, what do you think it would take to get those powerhouses serious about environmental change? BORDOFF: I think advanced economies have done—many have done a lot. I mean, the European Union has taken climate seriously and has reduced emissions and has pretty strong measures in place with a carbon market, for example, with a pretty high carbon price right now. The politics of this issue are not quite as favorable in the U.S., but the U.S. has seen emissions decline more than most over the last decade and a half, in part because of policy measures that have, you know, advanced renewable energy and brought the cost of that down as well as cheaper natural gas displacing coal for a while. But at a broader level, you know, have we done enough? The answer is no one's done enough—(laughs)—which is why emissions are still going up every single year. So that—so the answer is no, we haven't done enough. Almost no country has done enough at home to be on a trajectory for net zero 2050. You saw the announcements from countries like India saying, we'll get to net zero by 2070, and, you know, people said, oh, well, that's terrible. They're not saying 2050. And implicit in that is sort of saying, well, if you want to get global to net zero by 2050 we're not all going to move at the same speed, right. Some countries have advanced with the benefit of hydrocarbons since the Industrial Age and some haven't. So, presumably, the pathways are going to look different, right. And, you know, that's not always how countries in the advanced—in the developing—in the developed world talk about it. The commitment from the Biden administration is net zero by 2050. So I would say there's been—there are some models to point to of countries that have taken this issue seriously but we're not doing enough and partly because the political will is not there and partly—I come back to what I said before—this problem is harder than people realize. So you say which countries are doing enough, like, point to some models, right, and somebody might point to Norway, which, you know, the share of new vehicles sold that are electric in Norway went from zero to, I think, it's 70 percent now. I mean, that's amazing. Seventy percent of new car sales are electric. And if you go back to the start of that trajectory, about a decade or decade and a half, oil demand is unchanged in Norway. So we can talk about why that is and it's because a lot—as I said earlier, a lot of oil is used for things other than cars, and it's increased for trucks and planes and petrochemicals. It takes time for the vehicle fleet to turn over. So when you start selling a bunch of electric cars, you know, average car is on the road for fifteen years so it takes a while before that—the vehicle stock turns over. So I saw that kind of mapped out on a chart recently, just two lines—one is electric vehicle sales going straight up and then the other is oil demand in a flat line. It's a reminder of how unforgiving the math of decarbonization is. The math of climate is really unforgiving, like, you know, the kind of harmful impacts we're going to see with even 1.5 degrees warming. But the math of energy and decarbonization is really unforgiving, too. It's—and we just need to be honest with ourselves about what it takes to get where we need to go. Because I think it's good to have optimism and ambition, but I worry there should be optimism but not happy talk. We should recognize that there's a lot of work to do and let's get to work doing it. FASKIANOS: Great. So there are several questions in the chat about China. I'm going to start off with Andrew Campbell, who's a student at George Mason University. Is LNG—liquefied natural gas—a bridge toward renewable energy still being considered? If not, how are India and China's expected growth and increase in coal use going to be addressed? And then there are a couple of other comments or questions about China. You know, what's your take on China as the biggest emitter and return somewhat to coal? Can we actually even make stated and adequate new goals? And, you know, given the relationship between U.S. and China, which is contentious, you know, what is the cooperation going to be between U.S. and China on climate? So there's a lot packed in there, but I know you can address it all. (Laughs.) BORDOFF: Yeah. I think the China question is really hard, as I said earlier, this kind of, like, competition and cooperation and we're going to try to do both, and I think there was a hope early on—Secretary Kerry said it—that climate could be segmented from the broader challenges in the U.S.-China relationship, and I think that has proven harder to do than people had hoped, in part, because, you know, you need both parties to want to do that. I think China has signaled it's not necessarily willing to segment cooperation on climate from lots of other issues. And then these things bleed together where, you know, there's measures being taken in Washington to restrict imports of solar panels from China, that there were concerns that were made with—in ways that have human rights abuses associated with them with forced labor or maybe have unfair trade practices in terms of subsidies. China is—you know, the leadership in China takes climate seriously. This is a country that recognizes, I think, climate change is real and that needs to be addressed. They have a set of national interests that matter a lot, obviously, to them in terms of economic growth, and the pathway to get there is challenging. So it's a country that's growing clean energy incredibly quickly, as we're seeing right now, in part because there's a(n) energy crunch throughout Europe and Asia. They are ramping up the use of coal quite a bit again, but also taking some pretty strong measures to advance clean energy and, over time, hopefully, move in a lower carbon direction for reasons both about concerns over climate but also local air pollution, which is much, much worse in many parts of China than it is here and that's a huge source of concern for the public there. So when it comes to things like coal they need to figure out how to address those air pollution problems. And then for reasons of economic competition, like I mentioned a minute ago. I mean, China dominates the global market for refining and processing of critical minerals for solar panels, and there are economic and national competitiveness and strategic reasons to do that. So all of those things motivate them to move in the direction of clean energy, but they need to be moving faster to phase down hydrocarbon energy for sure. And then you ask a really hard question about—not hard, but one of the most contentious questions is about the role of natural gas in the transition, and we can have a whole separate session about that. I think there is a view of many in the climate community and many in developing countries—in developed countries that there's not space left in the carbon budget for natural gas, and you saw the Biden administration recently declare through the Treasury Department that, except in very rare cases of the poorest of the poor like Sierra Leone or something, they would not finance natural gas projects through the multilateral development banks. The vice president of Nigeria, I think, responded—speaking of CFR—in Foreign Affairs by writing that this was not fair and you need to think about a viable pathway for a country like Nigeria to develop and it just—it doesn't work to get there that fast. There has to be a bridge. The role of gas looks very different in different parts of the world. It looks different in the U.S. than it does in an emerging or a developing economy. It looks different in the power sector, where there are a lot more alternatives like renewables than it does in heavy industry or how we heat our homes. It looks different for, say, in the Global South, where you're talking about people who are still using coal and charcoal and dung for cooking to think about solutions like liquefied petroleum gas. So all of those things are true, but we need to think about gas also with the carbon budget in mind. I mean, the math is just the math. (Laughs.) If you're going to build any gas infrastructure and not have it blow through the carbon budget, it's going to have to be retired before the end of its normal economic life and you need to think about how that might look in different parts of the world. So you need to be fair to people, to allow them to grow, but also recognize that the math of carbon, you know, is what it is. FASKIANOS: Great. I just want to credit those last—the China questions came from Lada Kochtcheeva at North Carolina State University and Joan Kaufman, who's director of Schwarzman Scholars based in China. We are really at the end of our time—we started a couple minutes late—and I just wanted to go back to—there are students on the call who are following with a professor on the webinar who wanted you just to comment on blue hydrogen, whether or not it is contributing or helping to reduce greenhouse gases. BORDOFF: I think the answer is it can. You just need to make sure that it actually does. So the question of—and by blue hydrogen we mean, you know, using gas with carbon capture to create hydrogen. It needs to have very low methane leakage rates. It needs to have very high capture rates, and we know that is technically possible. It doesn't mean it will be done that way. So if people are going to pursue blue hydrogen as part of the solution in the—particularly in the near term, you need to make sure that it's meeting those standards. I think in the long run my guess and, I think, most guesses would be that green hydrogen is going to make more sense. It's going to be cheaper. The cost is going to come down. And so if we have a significant part of the energy sector that is hydrogen and ammonia in, say, 2050, more of that's going to be green than blue. But there can be a role for blue if you make sure it's done the right way. You just have to actually make sure it's done the right way. FASKIANOS: Great. And, Jason, we are out of time, but I wanted to give you one last, you know, one-minute or thirty seconds, whatever you want, just to say some parting words on your work at the center or, you know, to leave the group with what they can do, again. So— BORDOFF: Well, I would just say thanks for the chance to be with you all and for the work that you're doing every day. You know, I think Glasgow was a moment when the world came together to elevate ambition and roll up our sleeves and say this is—this is the decisive decade. Like, we'll know ten years from now—(laughs)—if we got anywhere close to making it or not. And so it's time for everyone to kind of roll up their sleeves and say, what can we do? We're doing that, I think, at Columbia with the creation of this new climate school. We do that every day at the Center on Global Energy Policy. And so just in all of your institutions, you know, what does that mean for you? What does it mean for the institution? What does that mean for your own research and time and how you allocate it? How do we step up and say, what can we do in the biggest and boldest way we can? Because we need—we're creating a climate school because I think the view is—you know, a hundred years ago there were no schools of public health and now it's how would you deal with a pandemic without a school of public health? So I think our view is decades from now we'll look back and wonder how we ever thought it was possible to handle a problem as complex and urgent as climate change without universities devoting their greatest kind of resource to them. And the measure of success for universities has to be research and new knowledge creation. It has to be education. It has to be serving our own communities. For us, it's, you know, the community here in New York, Harlem. But also are we focusing the extraordinary resources and capacity and expertise of these great institutions to solve humanity's greatest problems? That has to be a motivating force, too, for much of—maybe not all of but a lot of what universities do. So I'd just ask all of us to go back and think about how we can do that in our own work every day. and we have to do it through partnerships. I think universities don't work together as well as they need to. But this is only going to work if we work together. FASKIANOS: Great way to end. Thank you very much, Jason Bordoff. We really appreciate it. We'll have to look for your article in Foreign Affairs magazine, which is published by CFR. So, we are excited that you continue to contribute to the magazine. You can follow Jason Bordoff on Twitter at @JasonBordoff. Very easy to remember. Our final academic webinar of the semester will be on Wednesday, December 1, at 1:00 p.m. (ET). Michelle Gavin, who is CFR's Ralph Bunche senior fellow for Africa policy studies, will talk about African politics and security issues. So in the meantime, follow us at @CFR_Academic. Come to CFR.org, ForeignAffairs.com, and ThinkGlobalHealth.org for research and analysis on global issues, and we look forward to continuing the conversation with you. Take care. BORDOFF: Thank you. (END)

Public News Service
PNS Daily Newscast - November 15, 2021

Public News Service

Play Episode Listen Later Nov 15, 2021 6:00


Coastal communities look for ways to keep the momentum going after U.N. Climate Change Summit; Biden is open to possibility of tapping U.S. Strategic Petroleum Reserve to ease spiraling gas prices.

Public News Service
PNS Daily Newscast - November 15, 2021

Public News Service

Play Episode Listen Later Nov 15, 2021 6:01


Coastal communities look for ways to keep the momentum going after U.N. Climate Change Summit; Biden is open to possibility of tapping U.S. Strategic Petroleum Reserve to ease spiraling gas prices.

Energy Week
178 - Aramco Raises Oil Prices | What can the Biden admin do to lower gasoline prices | Russia doesn't deliver on gas promises

Energy Week

Play Episode Listen Later Nov 8, 2021 46:47


New podcast sponsor: https://energyweekpodcast.phonesites.comSaudi Aramco Raises Oil Prices After OPEC+ Defies Bidenhttps://finance.yahoo.com/news/saudi-aramco-raises-oil-prices-184252526.html- Large jump in Aramco price of Arab light to Asia- Messaging from OPEC+ is that they managing the oil market effectively and going a good job at it- Angry protestors burning the OPEC flag?Biden noncommittal on a potential Strategic Petroleum Reserve releasehttps://www.cnn.com/2021/11/06/politics/biden-strategic-petroleum-reserve/index.htmlBiden could announce action on oil this week -U.S. Energy secretaryhttps://www.reuters.com/article/usa-oil-biden-idAFL1N2RZ0VD- What could Biden do?- SPR release? Would be transitory- Cut federal gasoline taxBiden admin considering shutting down another pipeline, drawing criticism and dire warnings as winter nearshttps://www.foxnews.com/politics/biden-admin-considering-shutting-down-michigan-pipeline- turns out Biden admin is considering ALL options not just shutting down the pipelienRussia Keeps Grip on Europe's Gas Market Despite Putin's Pledgehttps://www.bloombergquint.com/onweb/russia-keeps-grip-on-europe-s-gas-market-despite-putin-s-pledge- not surprising that Putin didn't keep his promiseU.S. Energy Prices Are Breaking a Historic Pattern. The Results Could Be Severe.https://www.barrons.com/articles/u-s-energy-prices-breaking-historic-pattern-51635879750- higher prices in the summer vs. lower prices in the winter- dislocation of historic patterns could mean problems with electricity prices regardless of how cold it isBiden Energy Sec Granholm says cost of heating homes this winter will 'be more expensive' than last yearhttps://www.foxnews.com/politics/biden-energy-sec-granholm-cost-of-heating-homes-more-expensiveCold wave sweeps 90 percent of regions across Chinahttps://www.globaltimes.cn/page/202111/1238366.shtmlChina's daily coal output hits annual high, easing power supply shortagehttps://www.globaltimes.cn/page/202111/1238258.shtml- China has early cold snap AND coal supplies reach highest levels in years, expected to reach 12 million tonnes soon.- Have enough for 20 days of use - landmark because means supplies no longer short- How much of this announcement is propaganda to convince EPA unveils plan on controls of greenhouse gases and VOCs from oil and gas upstreamhttps://www.ogj.com/general-interest/government/article/14213378/epa-unveils-plan-on-controls-of-greenhouse-gases-and-vocs-from-oil-and-gas-upstream- 577 page proposal- kicking the little companies while they are trying to expand drilling

Renewable Energy SmartPod
The Road Ahead for Green Hydrogen

Renewable Energy SmartPod

Play Episode Listen Later Aug 31, 2021 37:29


Janice Lin, the founder and president of the Green Hydrogen Coalition, joins the show to discuss how green hydrogen is poised to play a larger role in everyday energy generation and consumption. From US efforts like HyDeal LA (22:28) and the Western Green Hydrogen Initiative (24:12) to international endeavors like the European Hydrogen Backbone (14:50), Janice outlines how quickly the green hydrogen economy is accelerating.Janice also highlights how green hydrogen as an energy storage solution could reduce blackouts and she also poses a fantastic question (1949): We have a Strategic Petroleum Reserve ... why not a Strategic Renewable Energy Reserve?PODBRIEF: (33:26) What would happen if a Category 5 hurricane slammed into an offshore wind farm? Plus, a funny study about a wind farm to protect New Orleans from hurricanes. MORE RESOURCESGreen Hydrogen GuidebookDoE: Wind turbines in hurricanesStanford - Univ. of Delaware: Wind farms as a buffer for hurricanes Sign up today for our daily newsletter, the Renewable Energy SmartBriefMitsubishi Heavy Industries MHI - Move The World Forward.

RBN Energy Blogcast
I Want to Break Free - The Upcoming Release of Crude Oil from the Strategic Petroleum Reserve

RBN Energy Blogcast

Play Episode Listen Later Sep 9, 2020 14:49


Energy Cast
87 | Fuel FAQs | American Petroleum Institute

Energy Cast

Play Episode Listen Later Jun 22, 2020 39:45


We discuss OPEC, energy independence, and continual boom/bust cycles with API Chief Economist Dean Foreman. For pictures and additional info, visit http://www.energy-cast.com/87-api.html

Congressional Dish
CD213: CARES Act - The Trillions for COVID-19 Law

Congressional Dish

Play Episode Listen Later Apr 27, 2020 149:56


The U.S. Treasury has been legally robbed! In this episode, discover the secret provisions in the multi-trillion dollar CARES Act that no one is talking about (like the new process for over the counter drug approvals) and discover the reasons behind problems that everyone is talking about (like why Mom & Pops can't get a small business loan approved but Fogo de Chao can.) The good news is that the problems are so obvious that they are easily fixed... If Congress ever comes back from vacation.  Please Support Congressional Dish – Quick Links Click here to contribute monthly or a lump sum via PayPal Click here to support Congressional Dish for each episode via Patreon Send Zelle payments to: Donation@congressionaldish.com Send Venmo payments to: @Jennifer-Briney Send Cash App payments to: $CongressionalDish or Donation@congressionaldish.com Use your bank’s online bill pay function to mail contributions to: 5753 Hwy 85 North, Number 4576, Crestview, FL 32536 Please make checks payable to Congressional Dish Thank you for supporting truly independent media! Recommended Congressional Dish Episodes CD160: Equifax Breach CD199: Surprise Medical Bills CD201: WTF is the Federal Reserve? CD212: The COVID-19 Response Laws Bills H.R.748 - CARES Act Text: H.R.748 - CARES Act Roll Call: H.R.748 - CARES Act House passed by voice vote at 1:25pm on March 27th Transcript: House debate Tom Massie demanded a recorded vote but an insufficient number of members supported him and the demand for a recorded vote was refused Signed by Trump on March 27 CARES Act Outline DIVISION A - Keeping Workers Paid and Employed, Health Care System Enhancements, and Economic Stabilization TITLE I - Keeping American Workers Paid and Employed Act Sec. 1102: "Paycheck Protection Program" (Small Business Loans) The Federal Government will guarantee 100% of the loans made under this authority between February 15, 2020 and June 30, 2020. The loans are allowed to be used by businesses to pay for their employees salaries, tips, sick and vacation time, health care, retirement benefits, and state and local taxes. Sole proprietors and independent contractors are eligible. All payments are capped at a salary rate of $100,000/yr per individual. Payments are not eligible for employees who live outside the United States, even if they are US citizens. A “small business” is defined as a business with fewer than 500 employees per physical location. Usually, franchises in a large corporate chain would be except from receiving these loans, but that exemption is waived. Nonprofits and veterans organizations are eligible as well. The maximum loan amount is $10 million. No personal guarantee or collateral can be required to get the loans between February 15, 2020 and June 30, 2020. There are no penalties allowed for prepayment of the loans. The Federal government will collect no administration fees. Interest rates are capped at 4% Fees for banks: The government will pay the bankers processing fees of 5% for loans under $350,000, 3% for loans between $350,000 and $2 million, and 1% of loans over $2 million. Loan payments must be allowed to be deferred - so no required payments of principal, interest, or fees - for at least 6 months and up to one year. The loans are allowed to be sold on the secondary market, but if the investor doesn’t want to abide by the deferment requirements, the government can buy the loan. Banks are going to be exempted from some disclosure requirements for these loans. The law authorizes $349 billion for this program. Sec. 1106: The loans from Section 1102 are eligible for forgiveness - as in you don’t have to pay them back - if the loan money was used for payroll costs, interest-only on mortgage payments (it specifically excludes payments towards the principal on a mortgage loan), rent payments, and/or utility payments. The government will pay the bankers for amount of the loan forgiven plus interest, capped at the amount of the principal on the loan. The amount of loan forgiveness will be reduced if the business employees fewer people during the COVID-19 crisis than they did before. The amount of forgiveness will be reduced by the amount of salary that employees who make less than $100,000/yr have their pay reduced beyond a 25% cut. Businesses can get loan forgiveness for extra money given to tipped employees. Businesses who re-hire their employees or re-instate employees salary to their pre-crisis level by June 30, 2020 will be eligible to have their loans forgiven. The banks will decide who will have their loans forgiven and banks are prohibited from being punished if the documentation submitted to them is wrong until June 30, 2020. Sec. 1110: From January 31, 2020 through December 31, 2020, businesses with fewer than 500 employees, sole proprietorships, and independent contractors can request a $10,000 advance to pay for employee sick leave, payroll, increased costs for materials, rent, or mortgage payments. The business can be approved using a credit score or self certification of the ability to repay. The advance can be up to $10,000 and must be paid within 3 days. If the applicant is approved for a loan, the advance will be reduced from the loan forgiveness amount. If the applicant isn’t approved, the advance doesn’t have to be repaid. $10 billion is appropriated for the advances. Sec. 1112: The government will pay the principal, interest, and fees for six months on some existing loans that are guaranteed by the government by the Small Business Act. $17 billion is appropriated for these payments. Sec. 1113: Until March 27, 2021, small businesses that want to declare bankruptcy and reorganize under Chapter 11 must have debts under $7.5 million instead of $2,725,625 as is usually the case, which increases the number of small businesses that will be eligible. TITLE II - Assistance for American Workers, Families, and Businesses SUBTITLE A: Unemployment Insurance Provisions Sec. 2102: Pandemic Unemployment Assistance Who qualifies: People who would qualify under existing State laws People who self-certify that are able to work except that the person has been diagnosed with COVID-19, someone in their home has been diagnosed with COVID-19, they are caring for someone with COVID-19, has a child whose daycare or school is closed due to COVID-19, can’t get to work because of a COVID-19 quarantine, their work is closed due to COVID-19, or they are self employed. People who do not qualify are people who have the ability to telework with pay or people who are receiving paid sick leave or other paid leave benefits Effective period: Beginning on or after January 27, 2020 and ending on or before December 31, 2020 Limits: No one can get unemployment benefits for more than 39 weeks, but this can be extended by the Secretary of Labor if needed Sec. 2104: Unemployment Amounts: It’s the amount determined by your state’s unemployment law plus $600 per week if the state chooses to enter into an agreement with the Secretary of Labor. The Federal government will pay for 100% of the costs of the extra unemployment payments and the administration costs. It’s an unlimited appropriation and it’s valid until July 31, 2020. SUBTITLE B: Rebates and Other Individual Provisions Sec. 2201: Issues a means tested “advanced refund" of $1,200 per adult and $500 per child. You only get the full amount as an adult if you make $75,000 per adult or less. People who make more than $75,000 per adult will have their check amount reduced based on their income up to about $100,000. People who make more than that will get nothing. The payment will be delivered via direct deposit to anyone who has authorized the IRS to do so since January 1, 2018 while everyone else will have to wait for checks. If we accidentally get overpaid, the IRS can’t charge us interest on that payment. The payments will be made for the 2019 tax year if you have already done your taxes for last year. If you haven’t, it’ll be based on 2018. They will send a notification in the mail to us about our payments to our last known address, which will tell us the amount and if it’s going to be delivered via direct deposit or by check. Sec. 2202: Waives rules that penalize removing money from your retirement accounts if you take the money out between January 1, 2020 and December 31, 2020.. You can take out up $100,000 in “coronavirus-related distributions”. You are allowed to pay it back in full for 3 years starting on the day you took the money out. To qualify, you have to self certify that you are someone who had COVID-19, is caring for a spouse or dependent who had COVID-19, or someone who was financially screwed in some way due to being quarantined, having work hours reduced, or having to care for a child. Sec. 2203: Waives the requirements that people over the age of 72, or their dependents who inherited their retirement accounts, to withdraw some money from the retirement accounts every year. The waiver is valid even for people who were not adversely affected by COVID-19. Sec. 2204: Allows people - even those that don’t itemize their deductions - to deduct $300 in donations in 2020 for cash payments given to charities, a government organization, educational organizations, veterans organizations… There’s a long list. Applies to taxable years starting with 2020. Sec. 2205: For people who do itemize their deductions, the current limit of cash contributions than can be written off (which is a maximum of 60% of the taxpayer’s tax bill for the year) is suspended. You can deduct up to your entire tax bill, although maybe even more because carry-overs are allowed. For corporations, the usual limit of cash contributions that can be written off (10% of the corporation’s income) is increased to 25% of the corporation’s income. The corporate limit increase is valid only in 2020. Sec. 2206: Allows employers to pay for some of an employee’s student loan - principal and/or interest - tax free if the payment is made by January 1, 2021. SUBTITLE C - Business provisions Sec. 2301: Employers with more than 100 employees will be able to get a tax credit for half of the wages they pay to their employee’s who can’t work, with a limit of $10,000 per employee per quarter. Employer with fewer than 100 employees can get the tax credit for all their employees. Employers who qualify are ones that had to close due to COVID-19 or whose gross receipts are less than 50% of what they were the same quarter last year. Employers who take out the small business loans created by this law can’t get this credit too. They will lose this tax credit in the quarter after their gross receipts are more than 80% of what they were in same quarter the prior year. This is predicted to save companies $54.6 billion. Sec. 2302: Allows employers to defer payroll taxes, with half the amount required to be paid by December 31, 2021 and the other half due by December 31, 2022. Businesses that have had loans forgiven using the provisions in this law are not eligible. Sec. 2303: The IRS code has, for many years, allowed business losses to be carried over to following years, so that the companies tax liability will be lower in the years to come. This law changes that so business losses from 2018, 2019, 2020, and 2021 can be carried backwards to each of the five years before the loss while also allowing the existing option to carry the losses forward too. The law also removes the limit that said that this couldn’t be done to offset more than 80% of taxable income for 2018, 2019, or 2020, which means this can be used to zero out their taxable income for years since 2013. This means that companies will be able to get refunds on taxes they paid on taxes going as far back as 2013. In those years, corporate tax rates were higher, so reducing their income levels retroactively lets them get more money back from those higher tax years. There’s no requirement that the businesses that get this tax gift be in any way negatively affected by COVID-19. This is estimated to provide $25.5 billion to corporations Sec. 2304: Prior to the 2017 tax cut law, individual taxpayers could deduct unlimited business losses against other kinds of income. The 2017 tax law changed that so that losses could only be used to shelter the first $250,000 or $500,000 of a married couple’s nonbusiness income, such as capital gains from stock market investments. This law retroactively removes new limits imposed by the 2017 tax law going back to 2018 and until 2021. This will allow individuals to submit amended returns and get refunds that weren’t allowed in 2018 and 2019. In reality, this will allow wealthy investors to use losses generated by depreciation in real estate to minimize their taxes on profits from things like investments in the stock market. No harm from COVID-19 needs to be proven in order to use and benefit from this provision. This is the second largest tax giveaway in this law. This is projected to cost almost $170 billion. Sec. 2305: Allows corporations expecting a refund due to the repeal of the alternative minimum tax in 2017 to get that refund faster. Sec. 2306: Increases the amount corporations can deduct on the interest expenses it pays on its loans from 30% of the company’s “adjusted taxable income” to 50%. Companies can do this regardless of any affect COVID-19 had on their business. This is projected to cost $13.4 billion. Sec. 2307: A tax credit for real estate owners, this changes a provision in the 2017 tax law to allow real estate owners to write off the costs of improvements to the interiors of their properties in the first year instead of spreading them out over many years. This is backdated to the enactment of the tax law, which will allow real estate owners to get tax refunds. Sec. 2308: Waives the federal excise tax on any alcohol used in hand sanitizer for calendar year 2020. TITLE III - Supporting America’s Health Care System in the Fight Against the Coronavirus Part 1 - Addressing Supply Shortages Subpart A - Medical Product Supplies Sec. 3101: Orders a report from the National Academies of Sciences, Engineering, and Medicine on the security of the United States medical product supply chain, specifically by evaluating the dependance of the United States and our private sector on critical drugs and devices sources or manufactured outside of the United States. Sec. 3103: Manufacturers of certain types of masks and ventilators are granted immunity from lawsuits during public health emergencies. Subpart B - Mitigating Emergency Drug Shortages Sec. 3112: Requires the manufacturers of drugs critical to the public health to report interruptions to the supply of the drug when the cause of the interruption is an interruption in the supply of the active pharmaceutical ingredient. They must also create and implement risk management plans. Is not effective until mid-September 2020. Subpart C - Preventing Medical Device Shortages Sec. 3121: Requires manufacturers of medical devices that are critical to public health to report to the government during or in advance of a public health emergency any interruptions in the manufacture of the devices that could lead to a meaningful disruption in the supply of that device in the United States. Unless it’s not possible, the government must get this notification at least 6 months prior to the date that the interruption or discontinuance is expected. The government must then distribute the information to appropriate health care industry officials. The government can keep the information from the public if disclosing it increases the likelihood of over-purchase of the product. Part II - Access to Health Care For COVID-19 Patients Subpart A - Coverage of Testing and Preventive Services Sec. 3201: Amends the Families First Coronavirus Response Act (the 2nd COVID-19 Response Law) so that coverage is only for COVID-19 tests that are “approved, cleared, or authorized” or that the developer has requested or intends to request emergency use authorization, is developed in and authorized by a State, or another test that HHS determines appropriate in writing. This provision did not change the language (loophole) that requires visits be covered only if they “result in the ordering or administration of a COVID-19 test.” Sec. 3202: Health care providers must publish on a public internet website the prices for COVID-19 testing. If health insurers have a negotiated rate with a providers, they are allowed to pay that rate if it is lower than the published rate. If there is no negotiated rate, the insurance companies must pay the amount listed on their public website. Sec. 3203: The health insurance companies “shall” be required to cover, without cost sharing, “any qualifying coronavirus preventive service” (which is “a service or immunization that is intended to prevent or mitigate coronavirus disease 2019) within 15 days of it’s official recommendation by the United States Preventive Services Task Force or the Advisory Committee on Immunization Practices of the Centers for Disease Control and Prevention. Subpart B - Support for Health Care Providers Sec. 3211: Provides $1.32 billion in extra funding for community health centers that are testing for COVID-19 Sec. 3215: Gives legal immunity in State and Federal courts to medical professionals who volunteer and provide services during the COVID-19 public health emergency declared on January 31, 2020, but the immunity is only valid for actions that took place after March 27th (the date of enactment). The immunity is not valid if the health care professional acted with willful or gross negligence or if the health professional was intoxicated by drugs or alcohol. Subpart C - Miscellaneous Provisions Sec. 3222: Elderly people who are homebound due to social distancing requirements during the COVID-19 emergency will be able to get government food deliveries as if they were homebound due to illness, as the law usually requires. Part III - Innovation Sec. 3301: Allows contracts created by BARDA (the Biomedical Advanced Research and Development Authority) during a public health emergency to continue past the end date of the public health emergency. Sec. 3302: Requires - no option - the Secretary of Health and Human Services to expedite the development and review of new animal drugs if preliminary clinical evidence indicates that the new drug might prevent or treat an animal disease that could cause serious or life-threatening diseases in humans, if the expedited process is requested by the organization creating the animal drug. Part IV - Health Care Workforce Sec. 3401: Appropriates $23.7 million per year through 2025 for grants to health professions schools and other public and nonprofit health or educational organizations, but with most of the grants being funded at significantly lower rates than they were during the Obama years. For example, for loan repayments and fellowships, they provided $5 million/yr during 2010-2014; that’s decreased to $1.2 million for 2021-2025. For educational assistance for people from disadvantaged backgrounds, they provided $60 million/yr during 2010-2014; that’s decreased to $15 million for 2021-2025. For grants to public and nonprofit private hospitals and medical schools, they provided $125 million/yr during 2010-2014; that’s decreased to under $49 million for 2021-2025. For health education center programs, they provided $125 million/yr during 2010-2014; that’s decreased to under $41.2 million for 2021-2025. For public health training centers, they provided at least $43 million/yr for 2012-2015; that’s decreased to $17 million for 2021-2025. The only category that gets significantly greater funding is a pediatric specialty loan repayment program that requires the student to work for at least 2 years in pediatric medicine to get the money. The funding level was $50 million/yr from 2010-2013, the funding is authorized to be unlimited from 2021 through 2025. All of these are authorizations for appropriations, they don’t provide any additional money. Sec. 3403: Requires grants and contracts be awarded for a Geriatrics Workforce Enhancement Program, that would train health professionals in geriatrics. The law authorizes about $40 million, but doesn’t appropriate it. This is a problem because Congress frequently will authorize programs they have no intention of funding, and without the funding, they don’t really exist. Sec. 3404: Authorizes appropriations, but does not appropriate, for nursing eduction programs about $138 million/yr for fiscal years 2021 through 2025, which is a decrease from the funding of $338 million that was valid from 2011-2016. Also authorizes, but does not appropriate, $117 million/yr from 2021-2015 for nursing student loans. Subtitle B - Education Provisions Sec. 3503: Through 2021, the requirement that all colleges match Federal funding for student work-study programs) is waived except for private for-profit organizations. Sec. 3504: Colleges will be allowed to use some of their federal Supplemental Educational Opportunity Grant money for students facing “unexpected expenses and unmet financial need”. The student can be given up to the maximum Federal Pell Grant for that year (which is currently $6,345). Sec. 3505: Allows colleges to pay student their work-study wages up to the full amount they would have been paid had there not been an emergency. They can make the payments in one-time grants or as multiple payments. Sec. 3506: The semester that students with loans couldn’t finish because of COVID-19 will not be counted towards their lifetime limits on subsidized loan eligibility. Sec. 3507: The semester that students with loans couldn’t finish because of COVID-19 will not be counted towards their lifetime limits on Pell Grant eligibility. Sec. 3508: Colleges, including for-profit colleges, that have students with loans withdraw from their schools due to COVID-19 will not have to repay the money they received from that student. The students will not have to return the money either and their loan obligation will be cancelled. The schools are allowed to let the student return after a leave of absence. Sec. 3511: Gives the Secretary of Education the option, at the request of a State, local, or tribal government, to waive statutory and regulatory requirements except for civli rights laws. The waivers may also be granted to charter schools. The waivers will not be valid past the 2019-2020 school year. Sec. 3512: During the COVID-19 emergency, the Secretary of Education can make payments - including on principal and interest - on loans issued to historically black colleges and universities through the HBCU Capital Financing Loan program, but the payments will have to be repaid to the Department of Education no sooner than one year after the COVID-19 emergency ends. The law appropriates $62 million. Sec. 3513: The Secretary of Education is required to suspend all payments due for student loans until September 30, 2020. Interest is not allowed to accrue during the suspension time. Each month during the suspicion must be treated as if the payments were made for the purpose of loan forgiveness programs. During the suspension period, student loan collections actions including wage garnishment and tax refund reductions must stop. People with student loans are allowed to keep making payments towards their principal. Sec. 3518: Allows the Secretary of Education to change the requirements, including matching requirements, for grant money given to colleges for the year of the emergency and the following fiscal year. Sec. 3519: Allows the Secretary of Education to excuse teachers from obligations they made to receive grants. The Secretary of Education is required to waive requirements that teaching service be consecutive for loan forgiveness as long as the teach completes a total of 5 years of required teaching service. Subtitle C - Labor Provisions Sec. 3606: Allows employers who will get a credit for the sick and family leave they are providing their employees to get that credit in advance. Sec. 3608: Required payments to employee pension plans can be postponed until January 1, 2021, but they must be paid with interest. Sec. 3610: Allows any government agency to change their contracts to allow the government to pay for up to 40 hours per week of paid leave that a contractor provides to its employees until September 30, 2020. This only applies to contractors who can’t work because the facilities where they work are closed and who can’t do their work remotely. Subtitle D - Finance Committee Sec. 3701: High deductible health insurance plans that do not include deductibles for telehealth services will still be considered high deductible plans. Sec. 3702: Starting on January 1, 2020, menstrual care products are considered medical products, which allows people to purchase them with Health Savings Accounts. Sec. 3703: Allows people on Medicare to be covered for telehealth visits to doctors they have not seen before. Sec. 3705: During the COVID-19 emergency, dialysis patients who receive their treatments at home do not need to meet face to face with their doctors, which allows the visit to be conducted via telehealth. Sec. 3706: The Secretary of Health and Human Services can allow hospice physicians or nurse practitioners to conduct patient visits via telehealth during the COVID-19 emergency Sec. 3709: Stops the 2% Medicare sequestration from May 1, 2020 through December 31, 2020, but extends sequestration for an extra year (to 2030 instead of 2029) Sec. 3710: Medicare will pay an extra 20% for people diagnosed with COVID-19, using “diagnosis codes, condition codes, or other such means as may be necessary” during the emergency period declared by the Secretary of Health and Human Services. Sec. 3713: Beginning on the day that a COVID-19 vaccine is licensed, Medicare will not charge a deductible for the the vaccine or its administration. Sec. 3714: Allows people on Medicare to get 90 day supplies of their drugs in a single refill for the during of the COVID-19 emergency declared by the HHS Secretary. Sec. 3719: During the emergency period, the Secretary of HHS can loan hospitals an advance of up to 6 months of Medicare payments. The payments can be made periodically or in a lump sum for up to 100% of the their usual payments, 125% for critical access hospitals. Hospitals will have to be given 120 days before any payments are decreased to offset the loans and must be given at least 1 year from the date of their first loan receipt to pay back the balance in full. Subtitle E: Health and Human Services Extenders Part I - Medicare Provisions Sec. 3803: Restores the funding levels of recently gutted low income programs. $13 billion to state health insurance programs, $7.5 billion to area agencies on aging, and $5 billion for aging and disability resources centers, and $12 billion for the National Center for Benefits and Outreach Enrollment. Part II - Medicaid Provisions Sec. 3813: Delays $4 billion in payment cuts to hospitals written into the Affordable Care Act which were supposed to begin in 2014. Hospitals were expected to be treating fewer uninsured individuals when the cuts were written into law. Part III - Human Services and Other Health Programs Sec. 3821: Extends the “Sexual Risk Avoidance Education Program” (abstinence eduction) from its scheduled end of May 22, 2020 to November 30, 2020. The program gives grants to states that agree to promote abstinence-only sex ed. Requirements and funding levels Sec. 3822: Extends the “Personal Responsibility Education Program” from its scheduled end of May 22, 2020 to November 30, 2020. Requirements and funding Part IV - Public Health Provisions Sec. 3831: Adds $1.5 billion to the funding for Community Health Centers to bring the funding to equal the 2019 funding, and funds them at the same rate through November 30, 2020. Adds $241 million to the funding for the National Health Service Corps, whose funding was allowed to lapse in December 2019, restoring its funding to equal the 2019 funding. Adds $45 million to teaching health centers that operate graduate medical programs to bring the funding to equal the 2019 funding, and funds them at the same rate through November 30, 2020. Subtitle F - Over the Counter Drugs Part 1 - OTC Drug Review Sec. 3851: Creates a new process for FDA approval of over the counter drug applications. Allows the Secretary of Health and Human Services to issue administrative orders to approve changes and new uses of over the counter drugs instead of requiring drug companies to go through the standard review process that takes longer. Companies whose applications are approved will get 18 month exclusivity on their drugs. Sec. 3854: Allows sunscreen companies with products affected by a pending FDA order to request that the HHS Secretary instead use the new, faster, less complete administrative order process created by Section 3851 for over the counter drugs. They must make this request by mid September 2020. Administrative orders issued by the HHS Secretary will be “deemed to be a final order”. As part of this process, the company may request and the HHS Secretary must conduct a “confidential meeting” with the company to discuss what data they should submit to show that their ingredients are safe and effective. Part II - User Fees Sec. 3862: Beginning in fiscal year 2021, to fund the new processes for over the counter drug approvals created by Section 3851, facilities that manufacture over the counter drugs will be assessed an annual fee and there will be either a $500,000 or $100,000 fee for requests to change drug monographs using the process created by Section 3851. Companies will not have to pay the fee if they are requesting changes to enhance warnings or instructions on the labels. TITLE IV - Economic Stabilization and Assistance to Severely Distressed Sectors of the United States Economy Subtitle A - Coronavirus Economic Stabilization Act of 2020 Sec. 4002: Defines a “covered loss” as “losses directly or indirectly as a result of coronavirus, as determined by the Secretary”, with “the Secretary” being Treasury Secretary Steven Mnuchin. “Eligible business” is an air carrier or “a United States business that has not otherwise received adequate economic relief in the form of loans or loan guarantees provided under this Act” Sec. 4003: Gives the Secretary of the Treasury the authorization to “make loans, loan guarantees and other investments” to "eligible businesses”, States, and local governments up to a total of $500 billion dollars. $46 billion must be directed at the airline industry and $454 billion will be loans, loan guarantees, and “other investments” determined by the Board of Governors of the Federal Reserve. Sec. 4004: Limits the amount of money that an employee of a business that gets a Treasury Department loan to $3 million plus half of whatever they got over $3 million in 2019 for the length of the loan plus one year. Sec. 4005: Until March 1, 2022, the Secretary of Transportation will have the authority to require any airline that takes loan money to maintain their flight schedules, as the Secretary of Transportation determines is needed. Sec. 4007: Suspends a 7.5% Federal excise tax on airlines from March 27, 2020 through the end of the year. Sec. 4008: Amends the Dodd Frank Wall Street Reform law to allow the FDIC to provide insurance for all accounts of banks that don’t accrue interest until December 31, 2020. Sec. 4009: Between March 13, 2020 and either the end of the COVID-19 emergency or December 31, 2020, the Board of Governors of the Federal Reserve is exempt from requirements that they give the public a day’s notice before their meetings and that they make public the minutes of their behind closed doors meetings. They must only keep a record of their votes and reasons for their votes which might be released to the public later (there’s no requirement that they be released). Sec. 4011: Allows unlimited lending to “nonbank financial institutions” such as insurance companies, venture capitalists, currency exchanges, and pawn shops until the end of the emergency declared on March 13 or until December 31, 2020. Sec. 4012: Lowers the amount of actual money that community banks must have in their possession from 9% to 8%, and gives the banks with less than that a “reasonable grace period” to get the money. This is valid until the end of the emergency declared on March 13 or until December 31, 2020. Sec. 4013: Allows banks to avoid counting troubled loans as troubled on their balance sheets from March 1, 2020 through December 31, 2020 or 60 days after the emergency declared on March 13th ends. Sec. 4014: Exempts banks from relatively new reporting requirements on their credit losses from March 27, 2020 through the end of the emergency declared on March 13 or December 31, 2020. Sec. 4015: Allows the Treasury Department to use its Exchange Stabilization Fund (which had $93.7 billion in it as of February 2020) to get around needing Congressional appropriations to cover any losses the Federal Reserve may need to absorb through its lending programs that allow unusual collateral to be offered like money market funds, corporate bonds, and securities. Sec. 4017: Increases the President’s power to use the Defense Production Act by waiving the requirement for Congressional authorization for projects that cost more than $50 million for two years and waives the requirement that Congress needs 30 days advanced notice before a Defense Production Act project can start for 1 year. Sec. 4018: Creates an Inspector General within the Treasury Department who will be appointed by the President. Says that when the Inspector General requests information, the agencies “shall, to the extent practicable” give him the information or else they will be reported to Congress. Sec. 4019: Prohibits loans or payments originating from the Treasury and Federal Reserve authorized by Section 4003 from going to any company in which the President, Vice President, an executive department head, member of Congress or their spouses, children, or son/daughter in laws own over 20% of the voting stock. Sec. 4020: Creates a Congressional Oversight Commission whose job is to conduct oversight of the implementation of this law by the Treasury Department and Federal Reserve. The commission will have five members: 1 appointed by the Speaker of the House (Nancy Pelosi), 1 appointed by the House minority leader (Kevin McCarthy), 1 appointed by the Senate majority leader (Mitch McConnell), 1 appointed by the Senate minority leader (Chuck Schumer), and 1 Chairperson co-appointed by the Speaker and Majority Leader (Pelosi and McConnell). Sec. 4021: Companies that allow customers to adjust their payment schedules have to report that the customer is current on their payments unless their accounts are already delinquent. This is valid from January 31, 2020 through either the end of July 2020 or 4 months after the emergency declared on March 13th ends Sec. 4022: People with Federally backed mortgages who have been affected by COVID-19 “directly or indirectly” can request and must be granted for a pause in loan payments for a maximum of about a year, but you have to request it twice (again after the first 180 days). Interest and fees will still accrue but they can’t charge any extra interest, penalties, or fees. Customers have to provide no proof of hardship. Prohibits the banks that manage Federally backed loans from moving forward with any foreclosure processes until mid-May 2020 (60 days after March 18, 2020). Sec. 4023: People/companies that own multifamily housing with 5 or more units with Federally backed mortgages who have been affected by COVID-19 “directly or indirectly” can request and must be granted for a pause in loan payments. The forbearance (pause) can be for a total of 90 days as long as the building owner requests it three times with at least 15 days notice. People who get this pause are not allowed to evict their tenants or charge them any late fees during the mortgage payment pause. Sec. 4024: Starting on March 27, 2020 and ending in late July 2020, landlords can not begin eviction proceedings for non-payment of rent or charge fees or penalties for not paying rent. Sec. 4025: Prohibits the government from attaching a string to a loan or loan guarantee that requires the business to negotiate with unions over worker pay or conditions of employment. This is valid starting on the day the business is first issued the loan and ending a year after the loan is paid off. Sec. 4026: Within 72 hours of each transaction, the Treasury Secretary must publish on the Treasury Department website a description of the transaction, the date, and the “identity of the counterparty”, the amount of the loan/guarantee/investment, how the price was determined, the interest rate, conditions, and a copy of the final term sheet. The Treasury Secretary also has to report any contracts entered into for the administration of loans or guarantees within 24 hours after the contract is entered into. The Federal Reserve has to issue reports to Congress that will have to be made public on their website within 7 days of the report being delivered to Congress. Sec. 4027: Appropriates $500 billion Sec. 4029: The authorities given to the Treasury Secretary and Board of Governors of the Federal Reserve to make loans, loan guarantees, and “investments” in businesses and banks will expire on December 31, 2020. Subtitle B - Air Carrier Worker Support Sec. 4112: The Secretary of the Treasury “shall” give money to airlines and the contractors that work with them which “shall exclusively be used for the continuation of payment of employee wages, salaries, and benefits”. Passenger air carriers will get $25 billion, cargo airlines $4 billion, and contractors will get $3 billion. Sec. 4113: The employees will have to be paid whatever rate they were paid from April 1, 2019 through September 30, 2019. Steven Mnuchin will decide all terms and conditions, other than the ones set by section 4114, 4115, and 4116. The payments have to start to be made within 10 days of enactment. The Inspector General of the Treasury Department will have to audit the certifications made by the companies about employee salary and benefit rates. Sec. 4114: Airlines or contractors that take the money can’t furlough their workers or reduce their wages or benefits until September 30, 2020, they can’t buy stock in their company or parent company, or pay out dividends. The Secretary of Transportation is also given authorization until March 1, 2022 to require only airlines or contractors that take the money to continue service to anywhere that they served as of March 1, 2020. Sec. 4115: Prohibits the government from attaching a string to a loan or loan guarantee that requires the airline or contractor to negotiate with unions over worker pay or conditions of employment. This is valid starting on the day the business is first issued the loan and ending on September 30, 2020. Sec. 4116: From March 24, 2020 through March 24, 2022, any airline or contractor that takes the money has to agree that no employee who made more than $425,000 in 2019 will be paid more than what they were paid in 2019, or will receive more than double their 2019 pay as a severance package. Employees that were paid more than $3 million can’t be paid more than $3 million plus half of the amount they were paid over $3 million in 2019. This includes salary, bonuses, stock awards and “other financial benefits”. Sec. 4117: The Treasury Secretary is allowed, but not required, to accept stock and securities and other “financial instruments” from the airlines and contractors. Sec. 4120: Appropriates $32 billion. TITLE V - Coronavirus Relief Funds Sec. 5001: Appropriates $150 billion for State, tribal and local governments. Amounts will be determined by population but each state will get at least $1.25 billion. Washington D.C. is treated as a territory and all territories will split $3 billion. Tribal governments will split $8 billion. Steven Mnuchin will decide how the tribal government money will be divided. The Inspector General of the Treasury must investigate the receipt, disbursement, and use of funds. TITLE VI - Miscellaneous Provisions Sec. 6001: Allows the Postal Service to borrow $10 billion from the Treasury Department. Division B - Emergency Appropriations for Coronavirus Health Response and Agency Operations Bureau of Prisons Sec. 12003: The Secretary of Health and Human Services “shall appropriately consider” distributing personal protective equipment and test kits to the Bureau of Prisons for use by inmates and staff. Sec. 12005: Authorizes and appropriates $300 million that the Secretary of Commerce can use for direct payments to subsistence, commercial, and charter fishery businesses. Department of Energy Sec. 14002: Extends the authority for the Secretary of Energy to sell oil from the strategic petroleum reserve and gives the Department of Energy the authority to sell $900 million worth of oil from the Strategic Petroleum Reserve, $450 million in 2021 and 2022, on top of the $450 million they can sell in 2020. The Judiciary Sec. 15002: Allows for criminal proceedings to be conducted via video teleconferencing until 30 days after the national emergency declaration terminates. It will only be allowed with the consent of the defendant or juvenile after they talk to a lawyer. Election Security Grants Provides $400 million to prepare for the 2020 Federal election cycle, domestically or internationally. The money must be given by the Election Assistance Commission to the states within 30 days. There is no direction on how the money is divided among states. The states have to submit reports on how they use the money. Money not used by December 31, 2020 has to be returned to the Treasury. Pandemic Response Accountability Committee Sec. 15010: Creates a Pandemic Response Accountability Committee that will investigate and report on the use of COVID-19 funds through September 2025. The committee will be operated by two full time paid employees and the other members will be inspectors generals from at least 9 federal agencies. The committee will have enforceable subpoena power. The committee is allowed, but not required, to hold public hearings. The committee will have a public website that is required to provide their findings, data, some contracting information, division of COVID-19 funds by state and congressional district, agency plans for use of funds, all recommendations made to the agencies, etc. Department of Homeland Security Sec. 16004: Prohibits the Department of Homeland Security from transferring War on Terror funds for the COVID-19 efforts. Sec. 16006: The Secretary of Homeland Security must extend the REAL-ID deadline until at least September 30, 2021. Department of Health and Human Services Public Health and Social Services Emergency Fund Provides an additional $27 billion for “developing necessary countermeasures and vaccines, prioritizing platform-based technologies with US based manufacturing capabilities, the purchase of vaccines, therapeutics, diagnostics, and necessary medical supplies”. Products purchased by the Federal government must be purchased in accordance with regulations on fair and reasonable pricing, ensuring affordability in the commercial market is optional. The HHS Secretary can not take any action that would slow down the development of the products. $16 billion can be spent on purchasing items for the Strategic National Stockpile. Funds can be used to construct or renovate “US based next generation manufacturing facilities, other than facilities owned by the United States government” in addition to the authority to construct or renovate private facilities that manufacture vaccines, therapeutics, and diagnostics. Adds an additional $100 billion to reimburse health care providers - public, private, and for profit - for COVID-19 expenses. Sec. 18115: Every lab that performs or analyzes a COVID-19 test must report the result of each test to the Secretary of Health and Human Services until the end of the HHS Secretary’s public health declaration with respect of COVID-19. State Department Sec. 21012: Provides $3 billion for the International Development Association (World Bank), $7.3 billion for the African Development Bank, and authorizes the Treasury “to make loans in an amount not to exceed the dollar equivalent 28,202,470,000 of Special Drawing Rights (which is approximately $38.5 billion as of April 21, 2020) OTC Drugs Bill Information Article: H.R.3443 - Over-the-Counter Monograph Safety, Innovation, and Reform Act of 2019, Congress.gov Article: S.2740 - Over-the-Counter Monograph Safety, Innovation, and Reform Act of 2019, Congress.gov Article: Roll Call Vote 116th Congress - 1st Session On Passage of the Bill (S. 2740), United States Senate, December 10, 2019 Bill Profile: H.R.3443: Clients Lobbying on H.R.3443: Over-the-Counter Monograph Safety, Innovation, and Reform Act of 2019, OpenSecrets.org Bill Profile: H.R.3443: Lobbyists lobbying on H.R.3443: Over-the-Counter Monograph Safety, Innovation, and Reform Act of 2019, OpenSecrets.org Sen. Johnny Isakson - Georgia: Top Industries 1995 - 2020, OpenSecrets.org Sen. Lamar Alexander - Tennessee: Top Industries 1995 - 2020, OpenSecrets.org Articles/Documents Update: Message from Jennifer Roberts, CEO of Chase Business Banking Chase Banking, April 23, 2020 Article: Hard-hit restaurants, gyms and other businesses are battling insurers over the coronavirus, sparking a new Washington lobbying war By Tom Hamburger and Tony Romm, The Washington Post, April 22, 2020 Article: Pelosi says Shall will stay on oversight commission after failure to disclose stock sales by Jeremy Herb and Lauren Fox, CNN, April 22, 2020.  Article: Vaccine Chief Says He Was Removed After Questioning Drug Trump Promoted The New York Times, April 22, 2020 Article: Highlights of the Nearly $500B Coronavirus Relief Bill The New York Times, April 21, 2020 Article: Publicly traded firms get $365M in small-business loans By REESE DUNKLIN, JUSTIN PRITCHARD, JUSTIN MYERS and KRYSTA FAURIA, Associated Press, April 21, 2020 Article: Restaurants’ bailout problem: Unemployment pays more By IAN KULLGREN, Politico, April 20, 2020 Article: Medical Staffing Companies Cut Doctors’ Pay While Spending Millions on Political Ads By Isaac Arnsdorf, ProPublica, April 20, 2020 Article: The coronavirus could force more doctors to sell — or shutter By Bob Herman, Axios, April 20, 2020 Article: Chase and other banks shuffled Paycheck Protection Program small business applications, lawsuit says By Dalvin Brown, USA Today, April 20, 2020 Article: Shake Shack returning $10 million government loan meant for small businesses By Stephanie Ruhle and Alex Johnson, NBC News, April 20, 2020 Article: WTI crude price goes negative for the first time in history By Cameron Wallace, World Oil, April 20, 2020 Article: In Race for Small-Business Loans, Winning Hinged on Where Firms Bank By Ruth Simon and Peter Rudegeair, The Wall Street Journal, April 20, 2020 Article: Zoom's Security Woes Were No Secret to Business Partners Like Dropbox By Natasha Singer and Nicole Perlroth, The New York Times, April 20, 2020 Article: A raw deal By Judd Legum, Popular Information, April 20, 2020 Article: The Trickle-Up Bailout By Matt Taibbi, Taibbi, April 17, 2020 Article: Donna Shalala Selection Makes a Mockery of Bailout Oversight Panel by David Dayen, The American Prospect, April 18, 2020.  Press Release: Pelosi Appoints Congresswoman Donna Shalala to Congressional Oversight Commission of the CARES Act, April 17, 2020.  Article: Ruth’s Chris Steak House Gets $20 Million From Coronavirus Aid Program By Charity L. Scott, The Wall Street Journal, April 17, 2020 Article: The COVID-19 Bailout That’s Left Every Hospital Unhappy In Its Own Way By Rachana Pradhan and Lauren Weber, Kaiser Health News, April 16, 2020 Article: I’m Overseeing the Coronavirus Relief Bill. The Strings Aren’t Attached. By Bharat Ramamurti, The New York Times, April 16, 2020 Article: House lawmakers indefinitely postpone return to Washington By Mike Lillis and Scott Wong, The Hill, April 16, 2020 Article: Paycheck Protection Program out of money: Thousands of small businesses shut out By Stephen Gandel, CBS News, April 16, 2020 Article: Here Are the Contracts Showing How $4.5 Trillion in Stimulus Was Outsourced to Wall Street By Pam Martens and Russ Martens, Wall Street on Parade, April 16, 2020 Article: Most Patients Undergoing Ground And Air Ambulance Transportation Receive Sizable Out-Of-Network Bills By Karan R. Chhabra, Keegan McGuire, Kyle H. Sheetz, John W. Scott, Ushapoorna Nuliyalu, and Andrew M. Ryan, HealthAffairs, April 15, 2020 Article: Renters Are Being Forced From Their Homes Despite Eviction Moratoriums Meant to Protect Them By Alana Semuels, Time, April 15, 2020 Article: One Person is Overseeing Congress's Bailout Loans. He Wants Answers. by Alan Rappeport, New York Times, April 15, 2020.  Article: Policy Memo: Federal Reserve Lending Facilities for Private Companies and Securitizations Americans for Financial Reform, April 15, 2020 Article: Hedge Fund Managers Claiming Bailouts as Small Businesses By Katherine Burton and Joshua Fineman, Bloomberg, April 14, 2020 Article: Rural hospitals shut out of stimulus loans face financial crisis By Rachel Roubein, Politico, April 14, 2020 Article: Tax change in coronavirus package overwhelmingly benefits millionaires, congressional body finds By Jeff Stein, The Washington Post, April 14, 2020 Article: WHITEHOUSE, DOGGETT RELEASE NEW ANALYSIS SHOWING GOP TAX PROVISIONS IN CARES ACT OVERWHELMINGLY BENEFIT MILLION-DOLLAR-PLUS EARNERS Sheldon Whitehouse, U.S. Senator for Rhode Island, April 14, 2020 Article: Your Coronavirus Check Is Coming. Your Bank Can Grab It. By David Dayen, American Prospect, April 14, 2020 Article: Tax change in coronavirus package overwhelmingly benefits millionaires, congressional body finds By Jeff Stein, The Washington Post, April 14, 2020 Article: How Some Rich Americans Are Getting Stimulus ‘Checks’ Averaging $1.7 Million By Shahar Ziv, Forbes, April 14, 2020 Article: Stimulus Oversight Panel Has One Person Trying to Watch $2.2 Trillion Alone By Joshua Green, Bloomberg, April 14, 2020 Article: Coronavirus antibody testing must be covered free of charge, feds say By Stefan Becket, CBS News, April 13, 2020 Article: Unsanitized: Meet The Corporate Bailout’s First Policeman By David Dayen, American Prospect, April 13, 2020 Article: Who's getting these hundreds of billions in government aid? For now, the public may be in the dark By Peter Whoriskey and Heather Long, The Washington Post, April 13, 2020 Article: CARES Act Package Ushers in Changes to OTC Drug Review Process Duane Morris, April 13, 2020 Article: Commission calls for review of election security standards By Tom Temin, Federal News Network, April 13, 2020 Article: Medical Staffing Companies Owned by Rich Investors Cut Doctor Pay and Now Want Bailout Money By Isaac Arnsdorf, ProPublica, April 10, 2020 Article: Furor Erupts: Billions Going To Hospitals Based On Medicare Billings, Not COVID-19 By Jay Hancock and Phil Galewitz and Elizabeth Lucas, Kaiser Health News, April 10, 2020 Article: Providers Begin Receiving $30B in Emergency Funding from HHS, Plus Newly Suspended State Regs Home Care Association of New York State Blog, April 10, 2020 Article: The Colleges Getting The Most Money From The Stimulus Bill By Wesley Whistle, Forbes, April 10, 2020 Article: It is Not All About the Coronavirus: The CARES Act Brings Long-Awaited Over-the-Counter (OTC) Monograph Reform By Genevieve Razick and Carolina Wirth, Arnall Golden Gregory LLP, JDSUPRA, April 10, 2020 Article: Unsanitized: Federal Reserve Rescue Is the Best Rescue By David Dayen, The American Prospect, April 10, 2020 Article: The Fed’s ‘Main Street’ Mistake Wall Street Journal, April 9, 2020 Article: Exclusive: These for-profit colleges could reap up to $1 billion in federal bailout money By Matt Smith, Market Watch, April 9, 2020 Article: Fed's balance sheet swells to record $6.13 trillion By Jonnelle Marte and Ann Saphir, Reuters, April 9, 2020 Article: 'Extremely Alarming': Coronavirus Stimulus Law Allows the Federal Reserve to Hold Secret Meetings on Corporate Bailouts By Jake Johnson, Common Dreams, April 9, 2020 Article: Congress Must Have Skipped the First Three Seasons of Trump Reality Show By Eleanor Eagan, The American Prospect, April 9, 2020 Alert: U.S. CARES ACT ENABLES LONG-AWAITED OTC DRUG REGULATORY MODERNIZATION: KEY HIGHLIGHTS By Brian Burgess and Julie Tibbets, Goodwin, April 8, 2020 Article: Coronavirus: CMS approves nearly $34 billion in accelerated/advance payments to healthcare providers By Keith A. Reynolds, Medical Economics, April 8, 2020 Article: Trump removes inspector general who was to oversee $2 trillion stimulus spending By Ellen Nakashima, The Washington Post, April 7, 2020 Article: Welfare for Wall Street By Nomi Prins, The Nation, April 7, 2020 Article: Congress fixed tax code “retail glitch” and gave real estate a tax windfall By Rich Bockmann and Kevin Sun, The Real Deal, April 7, 2020 Article: Trump removes inspector general who was to oversee $trillion stimulus spending By Ellen Nakashima, The Washington Post, April 7, 2020 Article: Big Restaurant, Hotel Chains Won Exemption to Get Small Business Loans By Bob Davis and Heather Haddon, The Wall Street Journal, April 6, 2020 Article: CARES Act Contains Significant New Over-The-Counter (OTC) Drug Provisions by Charles Andres, Wilson Sonsini, April 6, 2020 Article: Trump’s Aggressive Advocacy of Malaria Drug for Treating Coronavirus Divides Medical Community By Peter Baker, Katie Rogers, David Enrich and Maggie Haberman, The New York Times, April 6, 2020 Article: Private Flights Getting Cheaper Thanks to Stimulus Tax Relief By Katherine Chiglinsky and Tom Metcalf, Bloomberg, April 6, 2020 Article: 2020 CARES Act—FAQs for Nonprofit Organizations and Donors By James P. Joseph Bridget M. Weiss Dana O. Campos, Arnold & Porter, April 6, 2020 Article: What does the CARES Act mean for net operating losses and non-corporate business losses? By Douglas Charnas and Paul Leonard, JDSUPRA, April 3, 2020 Article: Trump announces intent to nominate White House lawyer Brian Miller as inspector general for $2 trillion coronavirus law by Jeff Stein, The Washington Post, April 3, 2020 Letter: Addressed to Secretary of Department of Health and Human Services, Alex Azar By Alexander Sammon, American College of Emergency Physicians, April 3, 2020 Article: Unsanitized: Why Banks Don’t Want to Help Small Businesses By David Dayen, The American Prospect, April 3, 2020 Article: Unsanitized: Aid Package Status Update By David Dayen, The American Prospect, April 2, 2020 Article: It’s Steve Mnuchin’s Economy Now By Alexander Sammon, American Prospect, April 1, 2020 Article: US aims to lease space in emergency oil stockpile, after buying plan canceled, sources say Reuters, April 1, 2020 Article: Trump may rent Strategic Petroleum Reserve storage to U.S. drillers By ARI NATTER, JENNIFER A. DLOUHY AND STEPHEN CUNNINGHAM, World Oil, April 1, 2020 Article: Temporary Waiver of Required Minimum Distribution Rules By Jean McDevitt Bullens, Baker Newman Noyes, April 1, 2020 Article: Unsanitized: It’s the First of the Month By David Dayen, The American Prospect, April 1, 2020 Article: Citigroup CEO Michael Corbat says bank is 'working around the clock' on small business relief program By Hugh Son, The CNBC, April 1, 2020 Article: Tax Savings Opportunities from the CARES Act By John Werlhof, CLA, March 31, 2020 Article: The Relief Package Ushers In Trump's Planned Economy By Matt Stoller, Wired, March 31, 2020 Article: Federal COVID-19 Economic Relief and Its Impact on the Energy Sector: An Overview Energy Alert, Akin Gump Strauss Hauer & Feld LLP, March 31, 2020 Article: Boeing Will Take Aid, Won’t Give Equity Banking Exchange, March 31, 2020 Article: Bailing Out the Bailout By Matt Taibbi, RollingStone, March 31, 2020 Article: US Banks Welcome $2trn Stimulus Package By David White and Zachary Kribs, Kidney News Online, March 30, 2020 Article: CARES Act to Improve Options for People on Home Dialysis By David White and Zachary Kribs, Kidney News Online, March 30, 2020 Statement: FDA on Signing of the COVID-19 Emergency Relief Bill, Including Landmark Over-the-Counter Drug Reform and User Fee Legislation Commissioner of Food and Drugs - Food and Drug Administration - Stephen M. Hahn M.D., U.S. Food & Drug Administration, March 30, 2020 Article: Key Provisions in the CARES Act for Health Care Providers By Health Law Practice - von Briesen & Roper, s.c., The National Law Review, March 30, 2020 Article: CARES On Campus: Stimulus Program & Higher Education By Anne Cartwright and Julie Miceli, JDSUPRA, March 30, 2020 Article: Inside the CARES Act: Changes to the Bankruptcy Code Under the CARES Act By Melissa Anne Peña, The National Law Review, March 29, 2020 Article: Lawmakers Pack Federal Stimulus Bill With Pet Provisions By Brody Mullins and Ted Mann, The Wall Street Journal, March 28, 2020 Press Release: Trump Suggests He Can Gag Inspector General for Stimulus Bailout Program By Charlie Savage, The New York Times, March 27, 2020 Press Release: Statement by the President The White House, March 27, 2020 Article: Unsanitized: The Federal Reserve Loads the Cannon By David Dayen, The American Prospect, March 27, 2020 Article: Inside the talks on the largest U.S. bailout: frantic negotiations, partisan tensions and a Trump tweet By Seung Min Kim, Mike DeBonis, Erica Werner and Paul Kane, The Washington Post, March 27, 2020 Article: Over-the-Counter (OTC) Drug Monograph Process U.S. Food & Drug Administration, March 27, 2020 Article: The Health Care Industry and the CARES Act: Insight and Next Steps Akin Gump Strauss Hauer & Feld LLP, March 27, 2020 Article: Bank Regulatory Provisions in the CARES Act By Robert Klinger, Bryan Cave Leighton Paisner, JDSUPRA, March 27, 2020 Article: Fed Releases Details of BlackRock Deal for Virus Response By Matthew Goldstein, The New York Times, March 27, 2020 Article: Stimulus Bill Allows Federal Reserve to Conduct Meetings in Secret; Gives Fed $454 Billion Slush Fund for Wall Street Bailouts By Pam Martens and Russ Martens, CounterPunch, March 27, 2020 Document: Terms of Assignment for BlackRock on Behalf of the Federal Reserve Bank of New York Regarding Secondary Market Corporate Credit Facility New York Fed, March 27, 2020 Press Release: Acting Secretary Chad Wolf Statement on the REAL ID Enforcement Deadline Homeland Security, March 26, 2020 Article: How the Fed’s Magic Money Machine Will Turn $454 Billion Into $4 Trillion By Jeanna Smialek, The New York Times, March 26, 2020 Article: Unsanitized: The Essential Imbalance of the 2020 Bailout By David Dayen, American Prospect, March 26, 2020 Article: Bonanza for Rich Real Estate Investors, Tucked Into Stimulus Package By Jesse Drucker, The New York Times, March 26, 2020 Article: Funding to refill U.S. Strategic Petroleum Reserve cut from stimulus plan By STEPHEN CUNNINGHAM, ARI NATTER AND JENNIFER A. DLOUHY, World Oil, March 25, 2020 Article: Stop the $6 Trillion Coronavirus Corporate Coup! By Matt Stoller, BIG by Matt Stoller, March 25, 2020 Article: Unsanitized: Bailouts, A Tradition Unlike Any Other By David Dayen, American Prospect, March 25, 2020 Article: Fed taps BlackRock to run emergency programs By Dawn Lim, Market Watch, March 25, 2020 Article: Avoid Taxes, Receive Federal Bailouts By Alexander Sammon, American Prospect, March 25, 2020 Document: INVESTMENT MANAGEMENT AGREEMENT New York Fed, March 25, 2020 Article: Fine Print of Stimulus Bill Contains Special Deals for Industries By Eric Lipton and Kenneth P. Vogel, The New York Times, March 25, 2020 Article: Congress to bail out firms that avoided taxes, safety regulations and spent billions boosting their stock By Jonathan O'Connell, The Washington Post, March 25, 2020 Article: 'Completely Dangerous and Unacceptable,' Ocasio-Cortez Says of Impending Senate Recess in Midst of Coronavirus Crisis By Eoin Higgins, Common Dreams, March 25, 2020 Article: Senate leaving DC until April 20 after coronavirus stimulus vote By Jordain Carney, The Hill, March 25, 2020 Article: Senate stimulus bill extends funding for abstinence education By Tyler Olson, Fox News, March 25, 2020 Article: Oil purchase to fill strategic reserve dropped from stimulus By Benjamin J. Hulac, Roll Call, March 25, 2020 Article: U.S. Fed hires BlackRock to help execute mortgage-backed securities purchases By Pete Schroeder and Michelle Price, Reuters, March 24, 2020 Article: What is the Exchange Stabilization Fund? And how is it being used in the coronavirus (COVID-19) crisis? By Sage Belz and David Wessel, Brookings, March 24, 2020 Press Release: Federal Reserve announces extensive new measures to support the economy Board of Governors of the Federal Reserve System, March 23, 2020 Article: COVID-19 Update: Federal Reserve Launches TALF (Again) By Scott A. Cammarn and Mark Chorazak, The National Law Review, March 23, 2020 Article: Trump's coronavirus eviction freeze won't keep a roof over our heads, advocates say By Tim Fitzsimons, NBC News, March 21, 2020 Article: Addressed to Speaker Pelosi, Leader McConnell, Leader McCarthy, and Leader Schumer By Ben Lane, America's Health Insurance Plans, BlueCross BlueShield Association, March 19, 2020 Article: Fannie Mae, Freddie Mac, HUD suspending all foreclosures and evictions By Ben Lane, Housing Wire, March 18, 2020 Press Release: Federal Reserve Board announces establishment of a Commercial Paper Funding Facility (CPFF) to support the flow of credit to households and businesses Board of Governors of the Federal Reserve System, March 17, 2020 Article: Federal Reserve cuts rates to zero and launches massive $700 billion quantitative easing program By Steve Liesman, CNBC, March 15, 2020 Article: How the drug industry got its way on the coronavirus By Sarah Karlin-Smith, Politico, March 5, 2020 Article: How Much Of Boeing’s Revenues Comes From The U.S. Government? By Trefis Team, Great Speculations, Forbes, January 2, 2020 Article: Funding Legislation Delays $4B in Medicaid DSH Payment Cuts By Jacqueline LaPointe, Revcycle Intelligence, December 20, 2019 Article: Southwest Airlines reaches confidential settlement with Boeing for some of its 737 Max losses By Lori Aratani, The Washington Post, December 13, 2019 Article: Boeing 737 Max Factory Was Plagued With Problems, Whistle-Blower Says By David Gelles, The New York Times, December 9, 2019 Article: How Much Income Puts You in the Top 1%, 5%, 10%? By Julia Kagan, Investopedia, November 21, 2019 Article: Senator Seeks Last Win In Over-the-Counter Drug Bill (Corrected) By Alex Roff, Bloomberg Law, October 31, 2019 Article: Boeing’s 737 Woes Aren’t Hurting Its Pursuit of Military Contracts, Exec Says BY Marcus Weisgerber, Defense One, October 15, 2019 Article: What Percentage of Americans Owns Stock? By Lydia Saad, Gallup, September 13, 2019 Article: FDA Chief of Staff Calls OTC Monograph Reform a Top Priority By Michael Mezher, Regulatory Affairs Professionals Society, May 21, 2019 Article: These 30 companies, including Boeing, get the most money from the federal government By Samuel Stebbins and Michael B. Sauter, USA Today, March 29, 2019 Article: Boeing Was ‘Go, Go, Go’ to Beat Airbus With the 737 Max By David Gelles, Natalie Kitroeff, Jack Nicas and Rebecca R. Ruiz, The New York Times, March 23, 2019 Article: Agencies reporting proposal for the implementation of Current Expected Credit Losses (CECL) Deloitte, January 22, 2019 Article: FDA Opens the Door for a Broader Range of Over-the-Counter (OTC) Drugs by Charles Andres, Wilson Sonsini, August 2, 2018 Article: Jared Kushner Paid No Income Tax for years By Jesse Drucker and Emily Flitter, The New York Times, October 13, 2018 Guidance for Industry: Innovative Approaches for Nonprescription Drug Products U.S. Department of Health and Human Services, Food and Drug Administration, Center for Drug Evaluation and Research (CDER), July 2018 Article: HISTORICALLY BLACK COLLEGES AND UNIVERSITIES: Action Needed to Improve Participation in Education's HBCU Capital Financing Program Office of Public Affairs, GAO, July 26, 2018 Article: 10 Things You Didn't Know About Alex Azar By Katelyn Newman, U.S. News, January 29, 2018 Article: The Richest 10% of Americans Now Own 84% of All Stocks Rob Wile, Money, December 19, 2017 Article: Why the newest sunscreens still haven't hit the U.S. market By Brady Dennis, The Washington Post, May 11, 2015 Article: Washington’s Skin Canc

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Oil and Gas This Week Podcast
Oil Plunges After IEA Says Demand is in Free Fall | Energy Department withdraws tender to fill Strategic Petroleum Reserve | The US Fracturing Market Is Sinking, But How Low Will It Go | Is This The Beginning Of The End For Texas Oil |

Oil and Gas This Week Podcast

Play Episode Listen Later Apr 1, 2020 26:10


Welcome back to another episode! This Week, Mark and Jake hit the following:       Oil Plunges After IEA Says Demand is in Free Fall  Energy Department withdraws tender to fill Strategic Petroleum Reserve  The US Fracturing Market Is Sinking, But How Low Will It Go  Is This The Beginning Of The End For […] The post Oil Plunges After IEA Says Demand is in Free Fall | Energy Department withdraws tender to fill Strategic Petroleum Reserve | The US Fracturing Market Is Sinking, But How Low Will It Go | Is This The Beginning Of The End For Texas Oil | Russia Says Oil Isn’t on Agenda for G-20 Call | Chevron Hits the Brakes on Permian, Cuts $8 Billion Across Company | Oxy Adds to Cuts and Icahn Wins Board Appointments – OGTW199 appeared first on Oil and Gas This Week Podcast.

Capitol Crude: The US Oil Policy Podcast
Will Trump's plan to fill the SPR be enough of a lifeline for US producers?

Capitol Crude: The US Oil Policy Podcast

Play Episode Listen Later Mar 19, 2020 11:29


US Energy Secretary Dan Brouillette joined Capitol Crude hours after his department announced it was seeking an initial 30 million barrels of US crude oil to store in the country's emergency stockpile. This is part of President Donald Trump's pledge to fill the Strategic Petroleum Reserve "right...

POLITICO Energy
Why restocking the petroleum reserve won't help the oil industry.

POLITICO Energy

Play Episode Listen Later Mar 18, 2020 9:43


POLITICO’s Ben Lefebvre, Eric Wolff and Zack Colman discuss whether the President’s pledge to restock the Strategic Petroleum Reserve would help the struggling oil sector. Plus, Democrats want to include climate change policy in the emergency stimulus package. Kelsey Tamborrino is a Politico Energy reporter. Irene Noguchi is the executive producer of Politico's audio department. Jenny Ament is the senior producer of Politico's audio department. Carlos Prieto is a Politico podcast producer.

Rory Sauter
The Rory Sauter Show - Episode 248

Rory Sauter

Play Episode Listen Later Mar 18, 2020


Today's Show : U.S. Congressional Candidate From California, Buzz Patterson calls in, U.S. Congressional Candidate From Massachusetts, John Paul Moran calls in, U.S. Congressional Candidate From Nevada, Leo Dunson calls in, Popular Talk Show Host, Martin Bruce calls in, Retired Police Chief and Homicide Detective, Michael Valsi calls in, U.S. Congress Candidate From Arizona, Josh Barnett calls in, U.S. Congressional Candidate From Tennessee, Todd McKinley calls in, Radio Show Host, Jim Price calls in, President Trump Praises Federal Reserve for Slashing Rates to Near-Zero, President Trump Considering Pardon for Michael Flynn, President Trump Orders Department of Energy to Replenish U.S. Strategic Petroleum Reserve in Coronavirus Era, President Trump: President Obama Made CDC Testing Worse, President Trump Declares National Emergency over Coronavirus , President Trump: Domestic Travel Ban Within U.S. a ‘Possibility' to Fight Coronavirus, Italy: Coronavirus Death Toll Exceeds 2,100, 11.5M Jobless/Underemployed Americans Available for Full-Time Work, Broadway Shows in New York Canceled for a Month Amid Coronavirus Pandemic, Fmr Coronavirus Patient: ‘The Hysteria Has Just Gotten Out of Control', Andrew Gillum Involved in Crystal Meth Incident, Coronavirus: Trump Waives Interest on Federal Student Loans, White House: Donald Trump Tests Negative for Corona Virus, Amazon Prohibits Man from Selling over 17K Bottles of Hand Sanitizer, WSJ/NBC Poll: Trump Approval Unchanged in Coronavirus Outbreak, U.S. Southern Border Flooded with Nationals from Coronavirus Countries, Las Vegas MGM to Temporarily Close All Casinos/Hotels Due to Coronavirus, Coronavirus: WH Drafting Order to Establish Medical Supply Chains in U.S., ISIS Travel Warning: Terrorists Should Stay Out of Europe During Coronavirus Outbreak, & Mainstream Media is the ‘enemy of the people'.

Futures Radio Show
Energy Policy Impacting Oil Prices — Joe McMonigle

Futures Radio Show

Play Episode Listen Later Oct 29, 2018


Guest: Joe McMonigle Senior Energy Policy Analyst at Hedgeye Record Date:  10/22/18 Listen on —> iTunes Listen on —> SoundCloud Topics: Policies Impacting Crude Prices Iran Sanctions Waivers from Iran Sanctions Strategic Petroleum Reserve President Trump & $80 Oil December OPEC Meeting Rapid Fire: Q. Who has influenced your life the most and why? A. Spencer Abraham […]

Capitol Crude: The US Oil Policy Podcast
Speculation continues as US Strategic Petroleum Reserve faces uncertain future

Capitol Crude: The US Oil Policy Podcast

Play Episode Listen Later Oct 29, 2018 17:25


Foreign governments cannot believe how much the US spends to store government-owned gasoline. The Department of Energy no longer plans to establish a dedicated marine terminal to ship out its emergency crude. And despite record-breaking US oil output, there is still a need for millions of barrels...

Futures Radio Show
Energy Policy Impacting Oil Prices — Joe McMonigle

Futures Radio Show

Play Episode Listen Later Oct 29, 2018 47:25


Guest: Joe McMonigle Senior Energy Policy Analyst at Hedgeye Record Date:  10/22/18 Listen on —> iTunes Listen on —> SoundCloud Topics: Policies Impacting Crude Prices Iran Sanctions Waivers from Iran Sanctions Strategic Petroleum Reserve President Trump & $80 Oil December OPEC Meeting Rapid Fire: Q. Who has influenced your life the most and why? A. Spencer Abraham […]

Capitol Crude: The US Oil Policy Podcast
Debate continues over the future of the US Strategic Petroleum Reserve as US oil output breaks records

Capitol Crude: The US Oil Policy Podcast

Play Episode Listen Later Sep 17, 2018 5:34


On this week’s Platts Capitol Crude we look at a plan by Congress to lease unused space in the US Strategic Petroleum Reserve to private companies and foreign governments. We talk to Congressman Joe Barton, a Texas Republican, former chairman of the House Energy and Commerce Committee and...

Congressional Dish
CD171: 2,232 Pages

Congressional Dish

Play Episode Listen Later Apr 14, 2018 120:56


In a special crossover episode of The David Pakman Show on YouTube, hear the infuriating story of how the 2,232 page “omnibus” government funding bill became law , discover a provision snuck into law that further erodes privacy rights, learn why only some stoners and legit medical marijuana patients are protected by the omnibus, and hear about some strange provisions that appear to give free reign to the intelligence agencies for the next six months. Please Support Congressional Dish Click here to contribute using credit card, debit card, PayPal, or Bitcoin Click here to support Congressional Dish for each episode via Patreon Mail Contributions to: 5753 Hwy 85 North #4576 Crestview, FL 32536 Thank you for supporting truly independent media! Recommended Listening The David Pakman Show: Budget Disaster: When Congress Can't Do It's Job - Jen guest hosting for David OR listen on Libsyn Additional Reading Article: How will the CLOUD Act work? by Lauren C. Williams, FCW, April 5, 2018. Article: Members literally don't have enough time to read some bills before a vote is held. This change would require they do by Jesse Rifkin, GovTrack Insider, March 29, 2018. Article: Two more wildfire seasons will pass before deal to fix federal funding kicks in by Kate Irby, McClatchy DC, March 27, 2018. Article: Sen. James Risch's decades-old grudge briefly derailed the big spending bill by Mike DeBonis, The Washington Post, March 23, 2018. Article: Trump signs $1.3 trillion spending bill despite veto threat on Twitter by John Wagner and Mike DeBonis, The Washington Post, March 23, 2018. Article: As the CLOUD Act sneaks into the omnibus, big tech butts heads with privacy advocates by Taylor Hatmaker, Tech Crunch, March 22, 2018. Press Release: Goodlatte statement on inclusion of CLOUD Act in Omnibus, House Judiciary Committee, March 22, 2018. Article: READ: House releases 2,232-page spending bill by The Hill Staff, The Hill, March 21, 2018. Article: Congresional negotiators reach deal on $1.3 trillion spending bill ahead of Friday government shutdown deadline by Mike DeBonis and Erica Werner, The Washington Post, March 21, 2018. Article: Microsoft's supreme court case has big implications for data by Louise Matsakis, Wired, February 27, 2018. Article: Military injuries and deaths off the battlefield are increasing by Erika I. Ritchie, Military.com, October 15, 2017. Article: Mattis: Unclear if budget cuts play role in military crashes by Lolita C. Baldor, Military.com, September 19, 2017. Article: Five Marines in critical condition after AAV catches fire by Hope Hodge Seck, Military.com, September 13, 2017. Article: Legal battle haunts MOX project 10 years later by Michael Smith, Aiken Standard, August 2, 2017. Article: Project Maven to deploy computer algorithms to war zone by year's end by Cheryl Pellerin, Department of Defense, July 21, 2017. Article: Israeli air force deploys operational Arrow-3 missile defense by Barbara Opall-Rome, Defense News, January 18, 2017. Article: Pentagon's black budget tops $56 billion by Noah Shachtman, Wired, February 1, 2010. Issue: Into the black, The Atlantic, September 2002 Bill Outline H.R. 1625: Consolidated Appropriations Act, 2018   DIVISION B - Commerce, Justice, Science, and Related Agencies Commerce, Justice, Science, and Related Agencies Explanatory Statement Sec. 521: Money appropriated by this Act for intelligence activities are "deemed to be specifically authorized by Congress "during fiscal year 2018 until the enactment of the Intelligence Authorization Act for fiscal year 2018". Sec. 537: "None of the funds made available under this Act to the Department of Justice may be used, with respect to any of the States of Alabama, Alaska, Arizona, Arkansas, California, Colorado, Connecticut, Delaware, Florida, Georgia, Hawaii, Illinois, Indiana, Iowa, Kentucky, Louisiana, Maine, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Montana, Nevada, New Hampshire, New Jersey, New Mexico, New York, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, Tennessee, Texas, Utah, Vermont, Virginia, Washington, West Virginia, Wisconsin, and Wyoming, or with respect to the District of Columbia, Guam, or Puerto Rico, to prevent any of them from implementing their own laws that authorize the use, distribution, possession, or cultivation of medical marijuana." DIVISION C - Department of Defense Sec. 8018: Prohibits the Department of Defense from disposing of M-1 Carbine rifles, M-1 Garand rifles, M-14 rifles, .22 caliber rifles, .30 caliber rifles, or M-1911 pistols or to destroy ammunition that is allowed to be commercially sold. Sec. 8071: Over $705 million will be spent on missile defense for Israel, with requirements that $420 million of that be shared with U.S. war equipment manufacturers, including at least $120 million to be shared with Boeing for the Arrow 3 Upper Tier system. Sec. 8073: Money appropriated by this Act for intelligence activities are "deemed to be specifically authorized by the Congress" during fiscal year 2018 until the enactment of the Intelligence Authorization Act for Fiscal Year 2018. Sec. 8107: Allows local military commanders - if the Defense Secretary creates regulations allowing it - to provide payments to people for damage, injuries, and deaths caused by the Armed Forces. Sec. 8115:: Prohibits the Defense Department from initiating or expanding support to foreign forces, irregular forces, groups, or individuals without informing Congress 15 days in advance, but the Defense Secretary can waive this and tell Congress within 72 hours. Sec. 8119: Military and civilian employees of the Defense Department can't use their Government Travel Charge Card on gambling or strippers. AFGHANISTAN SECURITY FORCES FUND - $4.666 billion will be provided to the "security forces of Afghanistan, including the provision of equipment, supplies, services, training, facility and infrastructure repair, renovation, construction, and funding." COUNTER-ISIS TRAIN AND EQUIP FUND - $1.769 billion will be provided for "assistance, including training; equipment; logistics support, supplies, and services; stipends; infrastructure repair and renovation; and sustainment, to foreign security forces, irregular forces, groups, or individuals participating, or preparing to participate in activities to counter the Islamic State of Iraq and Syria, and their affiliated or associated groups" - The money can also be used to "enhance the border security of nations adjacent to conflict areas including Jordan, Lebanon, Egypt, and Tunisia." Sec. 9007: Prohibits the US Government from creating any permanent military bases in Iraq or Afghanistan or from exercising "United States control over any oil resource of Iraq." Sec. 9011: Allows $500 million to be given to Jordan "to support the armed forces of Jordan and to enhance security along its borders." Sec. 9013: Provides $200 million for the Ukraine Security Assistance Initiative to "provide assistance , including training; equipment; lethal weapons of a defensive nature; logistics support, supplies and services; sustainment; and intelligence support to the military and national security forces of Ukraine, and for replacement of any weapons or defensive articles provided to the Government of Ukraine from the inventory of the United States" Sec. 9022: Allows the money in the Afghanistan Security Forces fund to be used to provide training, equipment, and "other assistance" that is legally prohibited because the "Secretary of Defense has credible information that he unit has committed a gross violation of human rights." . This is allowed as long as the Defense Secretary notifies Congress within 30 days. Defense Explanatory Statement Provides over $131 million ($100 million more than requested ) for Project Maven Classified appropriations total $46,659,168,000, which is $2.3 billion more than requested. DIVISION D - Energy and Water Development and Related Agencies Sec. 108: Prohibits permits from being required for the release of dredged or mill material from farming, ranching, construction and maintenance of dikes, dams, levees, and "transportation structures", construction or maintenance of farm or stock ponds or irrigation ditches, construction of farm roads or forest roads, or for temporary roads for moving mining equipment. Sec. 302:: Money appropriated for intelligence "by this or any other Act" are "deemed to be specifically authorized by the Congress" for ["intelligence or intelligence-related activity](http://uscode.house.gov/view.xhtml?req=(title:50%20section:3094%20edition:prelim) for the rest of fiscal year 2018 (until September 30, 2018) or until the enactment of the Intelligence Authorization Act for fiscal year 2018. Sec. 306: Prohibits the Secretary of Energy from creating any new regional petroleum reserve unless the "reserve is explicitly requested in advance in an annual budget submission and approved by the Congress in an appropriations Act." Sec. 309: Allows money to be used for the construction of the 99-D-143 Mixed Oxide Fuel Fabrication Facility in South Carolina. Sec. 311: Allows the Secretary of Energy to sell oil from the Strategic Petroleum Reserve if the President determines that a regional supply shortage exists and there will be severe increase in the price of oil. Energy and Water Development and Related Agencies Explanatory Statement Funding Levels by Energy Type Geothermal Energy: $80 million Wind Energy: $92 million Water Power: $105 million Solar Energy: $241 million Total Renewable Energy = $2.3 billion (Trump administration requested only $636 million) Fossil Fuel Energy Unconventional fossil fuels: $40 million Natural Gas: $50 million Coal: $481 million Fossil Fuels: $726 million Nuclear Energy: Over $1.2 billion DIVISION F - Department of Homeland Security Department of Homeland Security Explanatory Statement Sec. 506: Money appropriated by this Act for intelligence activities are "deemed to be specifically authorized by the Congress" during fiscal year 2018 until the enactment of the Intelligence Authorization Act for Fiscal Year 2018. DIVISION G - Department of the Interior, Environment, and Related Agencies Sec. 113: Allows the Secretary of the Interior to remove wild horses and burros from public land and transfer them to other governmental agencies to be used a work animals. Sec. 120: Prohibits the Secretary of the Interior from protecting the sage grouse using the Endangered Species Act Sec. 121: Enacts several provisions and full bills into law, including a bill that renames the White Clouds Wilderness in Idaho after Cecil D. Andrus. Sec. 416: Prohibits money from this or "any other Act" from being used to implement any regulation requiring permits for livestock producers to emit carbon dioxide, nitrous oxide, water vapor, or methane. Sec. 417: Prohibits money from being used to implement any regulation requiring mandatory reporting of greenhouse gas emissions from manure management systems. Sec. 418: Prohibits money from being used to regulate the lead content of ammunition or fishing tackle. Sec. 432: Prohibits permits from being required for the release of dredged or mill material from farming, ranching, construction and maintenance of dikes, dams, levees, and "transportation structures", construction or maintenance of farm or stock ponds or irrigation ditches, construction of farm roads or forest roads, or for temporary roads for moving mining equipment (this provision was also in Division D) Department of the Interior, Environment, and Related Agencies Explanatory Statement DIVISION R - TARGET Act Sec. 3: Adds human trafficking to the definition of “transnational organized crime” in order to allow the State Department to pay snitches. - Current law allows the State Department to appropriate "such amounts as many be necessary" - Payments are capped at $25 million except as personally authorized by the Secretary of State. The cap is $50 million for information leading to the capture of a leader of a foreign terrorist organization. - Payments under $100,000 do not need approval from the Secretary of State. - The decisions made by the Secretary of States are final and can not be reviewed by the courts. - The original law from 1984 allowed payments capped at $500,000. Payments over $100,000 had to be approved by the President. DIVISION S - Other Matters Title V: Stop School Violence Act Sec. 502: Provides grants to States, local governments, and Indian tribes to train school personnel and students to prevent school violence, develop and operate systems for anonymous reporting of threats (including apps, hotlines, and websites), placement of metal detectors, locks and lighting, and new technologies and "any other measure" that "may provide significant improvement in security". Authorizes $75 million in funding for 2018 and $100 million per year from 2019-2028. Title VI: Fix NICS ACT Other Matters Explanatory Statement DIVISION V - Cloud Act Sec 103: Requires that providers of electronic communication services "preserve, backup, or disclose the contents of a wire or electronic communication" regardless of if that information is stored inside or outside of the United States. - Service providers can challenge the orders in court if they think the target is not a United States person and does not live in the United States and that the disclosure would break the law of a foreign government. Sec. 104: It will be legal for electronic communication providers "to intercept or disclose the contents of a wire or electronic communication in response to an order from a foreign government". - Electronic communications providers can not be sued in court for complying with these information requests. Sec. 105: In order for information sharing to occur between the US Government and a foreign government, the countries must enter into an "Executive Agreement" - The Executive Agreement will be valid if the Attorney General submits a written certification to Congress that the country has, among other qualifications, "robust substantial and procedural protections for privacy and civil liberties" and is a party to the Convention on Cybercrime. - Determinations made by the Attorney General are not subject to judicial review. - The Executive Arrangement can not take effect until after 180 days after Congress is notified. - Congress can enact a joint resolution of disapproval to stop it. - An order issued by a foreign government has to identify a specific person, account, address, or personal device and the order must be for a fixed, limited duration. Orders by foreign governments are subject to review by our courts. Resources Bill Overview: H.R. 1625 - Consolidated Appropriations Act, 2018 Bill History: Consolidated Appropriations Act, 2018, Congress.gov Bill Summary: Omnibus 2018 Summary by GOP Staffers Bill Summary: H.R. 1625, Targeted Rewards for the Global Eradication of Human Trafficking Act, Congressional Budget Office, May 10, 2017 Amendment: Senate amendment to H.R. 1625 Video: Sen. Bob Corker is Sleepy, H.R. 1625 Senate Committee Hearing, March 22, 2018. Hearing: Rules Committee Hearing Senate amendment to H.R. 1625, March 21, 2018. OR watch on Youtube Video: Intelligence Blank Check, US Select Committee on Intelligence, Jan 22, 2018 Sales Info: Sales & Services, Civilian Marksmanship Program, 2017. Budget Info: Budget Justification for Military Construction, FY 2018. Budget Info: Link Plumeria funding from 2015 Public Law: 115-31 115th Congress, May 5, 2017 Cover Art Design by Only Child Imaginations Music Presented in This Episode Intro & Exit: Tired of Being Lied To by David Ippolito (found on Music Alley by mevio)

new york science california current oklahoma indiana wired indian colorado north arkansas state louisiana military utah congress money oregon energy illinois texas president hawaii electronic donald trump syria convention alaska iraq united states vermont washington tennessee government states act arizona alabama maine north carolina pennsylvania massachusetts west virginia mississippi idaho delaware maryland new mexico rhode island connecticut afghanistan south carolina new jersey montana ukraine ohio iowa wisconsin michigan nevada boeing missouri environment service new hampshire secretary congressional budget office puerto rico washington post defense minnesota pages columbia wyoming interior atlantic kentucky intelligence guam cybercrime arrow lebanon north dakota ritchie summary coal sleepy paypal payments islamic state solar energy sec techcrunch armed forces hwy natural gas bob corker orders baldor mox adds public law music alley fy fossil fuels wind energy john wagner omnibus tunisia requires attorney general us government state department michael smith fcw fiscal year defense secretary determinations defense department homeland security department congressional dish article two andrus house judiciary committee defense news louise matsakis strategic petroleum reserve garand mike debonis erica werner aav cloud act consolidated appropriations act prohibits article trump cover art design carbine civilian marksmanship program water power authorizes enacts david ippolito military construction hope hodge seck mcclatchy dc crestview
Congressional Dish
CD169: Fiscal Recklessness

Congressional Dish

Play Episode Listen Later Mar 10, 2018 145:43


Another shutdown, another dingleberry-filled temporary funding law! In this episode, learn about the new law that reopened the government after the 6 hour shutdown by providing funding until March 23 and be one of the few people in the country who will know about the random goodies that hitchhiked their way into law. Miranda Hannah joins Jen for the thank yous. Please Support Congressional Dish Click here to contribute using credit card, debit card, PayPal, or Bitcoin Click here to support Congressional Dish for each episode via Patreon Mail Contributions to: 5753 Hwy 85 North #4576 Crestview, FL 32536 Thank you for supporting truly independent media! Recommended Congressional Dish Episodes CD147: Controlling Puerto Rico CD128: Crisis in Puerto Rico Additional Reading Article: Get ready: Here comes another bs* budget commission by Stan Collender, Forbes, March 4, 2018. Report: Let Pentagon carry over FY18 budget boost so money isn't wasted, key lawmaker says by Joe Goud, Defense News, February 22, 2018. Report: Key health care provisions of bipartisan Budget Act of 2018 by Baker Donelson Bearman Caldwell & Berkowitz PC, Lexology, February 22, 2018. Article: Can updated tax credits bring carbon capture into the mainstream? by Emma Foehringer Merchant, Green Tech Media, February 22, 2018. Article: The shutdown clock is still ticking and that causes chaos throughout the government by Deirdre Shesgreen, USA Today, February 19, 2018. Report: Congress passes legislation to help foster children weather opioid epidemic by Lizzy Francis, Fatherly, February 13, 2018. Report: USA extends nuclear tax credit deadline, World Nuclear News, February 12, 2018. Report: House passes stopgap spending bill to end government shutdown by Lindsey McPherson, Roll Call, February 9, 2018. Report: The health 202: Republicans kill Obamacare's controversial "death panel" by Paige Winfield Cunningham, The Washington Post, February 9, 2018. Article: Why this tax bill may accidentally give huge leverage to the Freedom Caucus next year by Catherine Rampell, The Washington Post, December 20, 2017. Report: CMS announces big expansion to Medicare Advantage value-based insurance design model by Leslie Small, Fierce Healthcare, November 22, 2017. Report: House votes to repeal ObamaCare's Medicare cost-cutting board by Nathaniel Weixel, The Hill, November 2, 2017. Article: The pros and cons of switching to a Medicare Advantage Plan by John Bulliner, Medicare.com, January 24, 2017. Article: A single senator is blocking reform of the foster care system by Ryan Grim, Huffpost, December 6, 2016. Article: A sweeping reform of the foster care system is within reach but hanging by a thread by Ryan Grim, Jason Cherkis, and Laura Barron-Lopez, Huffington Post, December 2, 2016. Article: Congress to consider scaling down group homes for troubled children by Joaquin Sapien, ProPublica, May 20, 2015. Additional Viewing Hearing: A way back home: Preserving families and reducing the need for foster care, US Senate Committee on Finance, August 4, 2015. Hearing: No place to grow up: How to safely reduce reliance on foster care group homes, US Senate Committee on Finance, May 19, 2015. Bill Outline H.R. 1892: Bipartisan Budget Act of 2018   Division A: Honoring Hometown Heroes Act Sec. 10102: Allows the flag to be flown at half staff when a first responder dies at work. Division B: Supplemental Appropriations, Tax Relief, and Medicaid Changes Relating to Certain Disasters and further extension of continuing appropriations Title I: Gives $2.36 billion to the Department of Agriculture, available until the end of 2019, to pay for "expenses related to crops, trees, bushes, and vine losses" caused by Hurricanes Harvey, Irma, Maria, and other hurricanes and wildfires that took place in 2017. Companies who have crop insurance can have 85% of their losses covered by our tax money Companies who didn't buy crop insurance can have up to 65% of their losses covered by our money Title I: Gives $14 million to Puerto Rico's food program but says the money is for infrastructure grants for infrastructure damaged by Hurricanes Irma and Maria Sec. 20101: Changes the law to allow livestock producers to collect payments for cows they sold at reduced prices, instead of just dead ones, and eliminates the $20 million cap on total payouts for livestock producers. Sec. 20201: Orders the Secretary of Commerce to issue a waiver within 120 days of the provisions of the Marine Mammal Protection Act which prohibit the capture of marine mammals for three infrastructure projects designed to reduce land loss in Louisiana. It says the waiver for the projects "will remain in effect for the duration of the construction, operations and maintenance of the projects. No rule-making, permit, determination, or other condition or limitation shall be required when issuing a waiver pursuant to this section." Title IV: Gives $15 billion to the Army Corps of Engineers to repair damages caused by natural disasters $10 billion has to be spend in areas impacted by Hurricanes Harvey, Irma, and Maria Repairs made in Puerto Rico and the US Virgin Islands "shall be conducted at full Federal expense" Title V: Provides $1.652 billion for the "Disaster Loans Program Account" but $618 million of that can be spend on "administrative expenses to carry out the disaster loan program" Title VI: Adds $23.5 billion to FEMA's "Disaster Relief Fund" Sec. 20604: Adds religious institutions to the definition of a "Private Nonprofit Facility", which makes them eligible to receive tax money for disaster aid services. Sec. 20605: Says the Federal government will pay 90% of the costs for 2017 wildfire disasters. Title XI: Provides $1.374 billion for the Federal highway "Emergency Relief Program", with the Federal government paying 100% of the costs for Puerto Rico Title XI: Provides $28 billion in disaster relief for housing and infrastructure. $11 billion must be spent on areas hit by Hurricane Maria $2 billion of that will be spent on upgrades to electrical power systems Sec. 20102: Allows victims of wildfires in CA to borrow up to $100,000 from their own retirement accounts and pay it back within 3 years. Sec. 20103: Allows companies that had to close due to wildfires to get a credit for up to 40% of their employees' wages, up to $6,000 each. Sec. 20104: Suspends limitations on charitable contributions made before December 31, 2018 for relief efforts in the California wildfire disaster area Sec. 20301: Provides an extra $3.6 billion for Puerto Rico and $106 million for the US Virgin Islands for Medicaid Puerto Rico can get $1.2 billion more if Puerto Rico implements a new process for transmitting data to the Transformed Medicaid Statistical Information System (T-MSIS) and if it creates a Medicaid fraud control unit Subdivision 3: Extends 2017 government funding levels until March 23, 2018. Funds the census Forces the sale of $350 million worth of oil from the Strategic Petroleum Reserve Division C: Budgetary and other matters Sec. 30101: Sets the budget limits for 2018 and 2019 2018 $629 billion for defense $579 billion for non-defense 2019 $647 billion for defense $597 billion for non-defense Sec. 30102: Zeroes out the balances on the PAYGO budget scorecard. Sec. 30204: Requires the Secretary of Energy to sell 30 million barrels of oil from the Strategic Petroleum Reserve every year from 2022-2025 and 35 million per year in 2026 and 2027. Lowers the amount of oil we must have in reserves from 450 million barrels to 350 million barrels Sec. 30301: Suspends the debt ceiling entirely until March 1, 2019. Division D: Revenue Measures Subtitle A, Subtitle B, and Subtitle C: Extend 31 tax credits Sec. 40402: Extends until 2021 but then phases out tax credits for residential solar electricity, solar water heaters, small wind energy turbines, and geothermal heat pumps. Sec. 40411: Extends until 2022 and then phases out a 30% credit for fiber-optic solar, fuel cell, and small wind energy property, eliminating the credits entirely by 2024. Sec. 40501: Extends and expands tax credits for nuclear power facilities Sec. 41119: Extends an existing tax credit for carbon sequestration technology for 6 years and changes it so that more money is rewarded for each ton of carbon captured and eliminates a cap on how many tons were eligible for credits (it was 75 million tons). Division E: Health and Human Services Extenders Title I: Extends the authorization for the Children's Health Insurance Program through 2027 and adds $48 million per year for 2023-2027 for enrollment assistance. Title II: Extends Medicare programs Sec. 50302: Authorizes voluntary telehealth appointments for people receiving at-home dialysis treatments for end state renal disease, as long as they see a doctor in-person every 3 months. Sec. 50321: Expands a test program, which began in 2015 with 7 States, to all States. The program allows privately administered Medicare Advantage plans flexibility to design custom insurance plans for people with certain chronic diseases. Sec. 50322: Starting in 2020, privately administered Medicare Advantage plans will be able to offer extra benefits for people with chronic health conditions and uniformity requirements will be waived for those plans. Sec. 50323: Starting in 2020, privately administered Medicare Advantage plans can include "telehealth benefits" Sec. 50341: Starting sometime in 2019, some Medicare administrators will be allowed to offer incentives up to $20 to encourage seniors to encourage them to come to appointments with their primary care doctors. The money collected will not be considered taxable income. The Secretary of Health and Human Services can cancel this program at any time for any reason. Sec. 50412: Increased criminal and civil fines for Federal health care program fraud Sec. 50502: Updates the abstinence education program and increases funding from $50 million to $75 million in 2018 and 2019 Sec. 50711: Creates a program funding State efforts to provide mental health care, substance abuse treatment, and parenting counseling to parents in order to prevent their children from being placed in foster care. Sec. 50712: Allows foster care payments to be given to licensed residential treatment facilities if the facility welcomes the child to live with its parent as long as the facility provides parenting classes and family counseling. Sec. 50745: Requires States to require every child-care institution to run fingerprint-based checks of national crime information databases on any adult working in their facility. Sec. 50901: Funds Community Health Centers with $3.8 billion for 2018 and $4 billion for 2019 Sec. 52001: Repeals the Independent Payment Advisory Board Title XII: Offsets Sec. 53103: Requires Medicaid to count lottery winnings as income when determining Medicaid eligibility Sec. 53105: Rescinds $985 million from the Medicaid Improvement Fund, which is meant to improve oversight of Medicaid contracts and contractors. Sec. 53107: Reduces pay for outpatient physical and occupational therapists for care their assistant's provide to 85 percent of the rate that would have otherwise been paid. Sec. 53114: Increases the percentage that people who make over $500,000 per year pay for Medicare premiums from 80% to 85%. Sec. 53115: Empty's the Medicare Improvement Fund by eliminating all $220 million. Sec. 53116: Accelerates the closing of the prescription drug "donut hole" for seniors by moving up a decrease in out of pocket prescription costs to 25% by one year - it's now 2019 - and by increasing the percentage that drug manufacturers must discount their drugs from 50% to 70%. Sec. 53119: Cuts $1.35 billion from the Prevention and Public Health Fund over the next 10 years. Division G: Budgetary Effects Exempts the entire law from the PAYGO scorecard and the Senate PAYGO scorecards. Resources Bill Overview: H.J.Res. 45 Pay As You Go Act of 2010 Bill Summary: Pay-As-You-Go Act of 2010 Bill Scorecard: Pay-As-You-Go Act Scorecard August 4, 2017 Budget Notice: 2017 Statutory Pay-As-You-Go Act Annual Report Committee on Finance Report: An Examination of Foster Care in the United States and the Use of Privatization Government Debt Info: The Debt to the Penny and Who Holds It Government Debt Info: Interest Expense on the Debt Outstanding Louisiana State Government: Coastal Protection and Restoration Authority Infrastructure Projects Visual Resources 20 Years of Congress Budget Prograstination in One Chart Sound Clip Sources Senate Remarks: Senator Paul on Budget Cap Increases in Two-Year Budget, C-SPAN, February 8, 2018. Senator Rand Paul: The bill is nearly 700 pages. It was given to us at midnight last night, and I would venture to say no one has read the bill. No one can thoroughly digest a 700-page bill overnight, and I do think that it does things that we really, really ought to talk about and how we should pay for them. Senator Rand Paul: So the reason I’m here tonight is to put people on the spot. I want people to feel uncomfortable. I want them to have to answer people at home who said, how come you were against President Obama’s deficits, and then how come you’re for Republican deficits? Isn’t that the very definition of intellectual dishonesty? If you were against President Obama’s deficits and now you’re for the Republican deficits, isn’t that the very definition of hypocrisy? People need to be made aware. Your senators need to answer people from home, and they need to answer this debate. We should have a full-throated debate. Senator Rand Paul: You realize that this is the secret of Washington. The dirty little secret is the Republicans are loudly clamoring for more military spending, but they can’t get it unless they give the Democrats welfare spending, so they raise all the spending. It’s a compromise in the wrong direction. We should be compromising in the direction of going toward spending only what comes in. And yet this goes on and on and on. Senator Rand Paul: For the umpteenth time, Congress is going to exceed their budget caps. We had something passed back in 2010. It was called PAYGO. It was supposed to say, if you’re going to pay new money, you had to go find an offset somewhere else. You could only pay as you go. It was sort of like a family would think about it. If you’re going to spend some more money, you either got to raise your income or you’ve got to save some money. You know how many times we’ve evaded it since 2010? Thirty-some-odd times. Senator Rand Paul: So the bill’s going to exceed the budget caps by $296 billion. And that’s not counting the money they don’t count, all right? So these people are really, really clever. Imagine them running their fingers together and saying, how can we hide stuff from the American people? How can we evade the spending caps so we can be even more irresponsible than we appear? So, 296 is the official number; about $300 billion over two years that will be in excess of the budget caps. But there’s another $160 billion that’s stuck into something called an overseas contingency fund. The budget caps don’t apply there. So we’re $300 billion for two years over the budget caps; then we’re another 160 billion over the caps—they just don’t count it. They act as if it doesn’t matter; we’re just not going to count it. Senator Rand Paul: The spending bill’s 700 pages, and there will be no amendments. The debate, although it’s somewhat inside baseball that we’re having here, is over me having a 15-minute debate, and they say, woe is me; if you get one, everybody’ll want an amendment. Well, guess what? That would be called debate. That would be called an open process. That would be called concern for your country—enough to take a few minutes. And they’re like, but it’s Thursday, and we like to be on vacation on Fridays. And so they clamor. But we’ve been sitting around all day. It’s not like we’ve had 100 amendments today, we’re all worn out, we can’t do one more. We’re going to have zero amendments—zero, goose egg, no amendments. Senator Rand Paul: So over the past 40 years, four times have we actually done the right thing—passed 12 individual appropriation bills, bundled them together, have a budget, and try to do the right thing. You know, there’s no guarantee that everybody’ll be wise in their spending, but it’s got to be better; it can’t be worse. What do we do instead? It’s called a continuing resolution. We glom all the bills together in one bill, like we’ve done tonight—Republicans and Democrats clasping hands—and nobody’s going to look at it. Nobody’s going to reform the spending. As a consequence, wasteful spending is riddled throughout your government. Only four times in 40 years have we done the appropriation process the way we’re supposed to. Senator Rand Paul: The last thing I’ll get to is something called the debt ceiling. The debt ceiling is something that has been a limitation on how much we spend, and we have to vote on it, and it’s an unpleasant vote. And so they try to either do it for a long period of time or try to stretch it beyond elections. So this bill, the 700-page bill that no one read, that will continue all the spending and will not reform your government and is irresponsible—the one we will pass later tonight—that 700-page bill also allows the debt ceiling to go up. Historically, we would let the debt ceiling—our borrowing limit—we would let it go up a dollar amount. We’d say, well, we’ve got to borrow money, and it looks like we’re going to need a trillion dollars. But you know the way they do it now? It’s like everything else around here: We bend, break the rules, and then somehow there’s a little bit of deviousness to it. The debt ceiling will go up in an unspecified amount. So as much as you can borrow between now and November, go for it. So there is no limitation. The debt ceiling becomes not a limitation at all. Senator Rand Paul: And the media doesn’t even get it. The media does you such a disservice. They can’t even understand what’s going on sometimes. They’re like, bipartisanship has broken out. Hallelujah! Republicans and Democrats are getting along. And in reality, they should be telling you, look for your wallet; check your pants to make sure they haven’t taken your wallet, because when both parties are happy and both parties are getting together and doing stuff, guess what? They were usually looting the Treasury. And that’s what this bill does. It’s going to loot the Treasury. It spends money we don’t have. We will have a trillion-dollar deficit this year. Press Briefing: Presidential Remarks on Federal Spending, C-Span, June 9, 2009.   Community Suggestions Video: The Political Vigilante: Graham Learns About MMT Part 1  Video: The Political Vigilante: Graham Learns About MMT Part 2 See more community suggestions HERE.   Cover Art Design by Only Child Imaginations Music Presented in This Episode Intro & Exit: Tired of Being Lied To by David Ippolito (found on Music Alley by mevio)

Capitol Crude: The US Oil Policy Podcast
Gruenspecht: EIA looks the US' oil future, even if 'there are no facts about the future'

Capitol Crude: The US Oil Policy Podcast

Play Episode Listen Later Sep 5, 2017 14:53


The US Energy Information Administration is losing its top career official, and senior oil editors Meghan Gordon and Brian Scheid spoke with Howard Gruenspecht before he departed. Gruenspecht, the acting administrator since January and deputy administrator since 2003, is departing for the MIT...

The Jacki Daily Show
Should US Continue to Hoard Oil in the Strategic Petroleum Reserve? -Driverless Cars

The Jacki Daily Show

Play Episode Listen Later Aug 22, 2016 74:26


Katie Mehnert of Pink Petro and Charles McConnell, Executive Director of Rice University's Energy and Environment Initiative, join Jacki to discuss the online class Rice University is offering to students world wide.

Capitol Crude: The US Oil Policy Podcast
How to preserve the reserve: The US' SPR in the era of a global oil glut

Capitol Crude: The US Oil Policy Podcast

Play Episode Listen Later Jun 20, 2016 10:19


On this week’s Capitol Crude, Brian Scheid and Herman Wang take you along on a recent tour of the Strategic Petroleum Reserve. With pipes corroding and tank floors failing, the US Department of Energy says the world’s largest stockpile of crude oil may be nearing the end of its service...

Congressional Dish
CD127: The Fast Act (The Transportation Funding Law)

Congressional Dish

Play Episode Listen Later Jun 12, 2016 123:20


Transportation: We all need it, and Congress funded it. In this episode, we take a detailed look into the FAST Act, which funds our national transportation network for the next five years. Please support Congressional Dish: Click here to contribute with PayPal or Bitcoin; click the PayPal "Make it Monthly" checkbox to create a monthly subscription Click here to support Congressional Dish for each episode via Patreon Mail Contributions to: 5753 Hwy 85 North #4576 Crestview, FL 32536 Thank you for supporting truly independent media! H.R. 22: FAST Act ("Fixing America's Surface Transportation Act) Bill Highlights Division A - Surface Transportation Title I - Federal-Aid Highways Funding level Highways will get an average of 41 billion per year. Private Freight Grants: $500 million can go to private rail freight companies to upgrade rail infrastructure; the Federal share of these projects is capped at 60%. Acceleration of Projects Creates a pilot program that will allow States to conduct environmental reviews, using their own State laws, instead of using the National Environmental Policy Act (NEPA). Capped at 5 States The State can only be approved if the Secretary of Transportation determines the laws of the State are at least as stringent as the Federal requirements. No lawsuits will be allowed, challenging the permit approval, after 2 years. The program will sunset in 12 years Miscellaneous The Department of Transportation will identify national corridors for installation of electric car charging stations and hydrogen, propane, and natural gas refueling stations by the end of 2016. The goal is to have the charging and refueling stations deployed by September 30, 2020. Allows the Department of Transportation to move swallows from under bridges that need fixing until the Interior Department issues final rules. The Secretary of the Interior can suspend the authorization to move the swallows. Title III - Public Transportation Funding level The Mass Transit Account will provide and caps expenditures at an average of $9.7 billion per year. $199 million for positive train control installation, which can be used to pay for up to 80% of the cost. Buy American Requires American steel, iron, or manufactured goods to be purchased, when possible. Title IV - Highway Traffic Safety Provides grants to States in return for their establishment of laws that prohibit texting and driving. Prohibits Federal grant money from funding for State & local programs for checking for motorcycle helmet usage or checkpoints for motorcycle monitoring. Impaired Driving Provides grants to States for implementation of drunk driving laws. Orders a study and report to Congress on marijuana-impaired driving by the end of 2016. Title V - Motor Carrier Safety Drug Test Expansion Allows companies to conduct preemployment and random tests of commercial drivers for alcohol and controlled substances using hair testing as an alternative to urine testing. Allows for religious exemptions Title VI - Innovation Highway User Fees Grants will be provided to States that create user-fee programs for funding the Highway Trust Fund. The goal is to test the design and public acceptance of two or more user fee systems. Private vendors can be used to operate the fee collection systems. The fees collected will not be considered "tolls" Public Access to Research A database of all Department of Transportation research projects will be available on a public website and updated once per year. Title VII - Hazardous Materials Transportation Special permits Speeds up the decision time for special permits for transporting hazardous material by 60 days The decisions will be available to the public "Wetlines" Requires the Secretary of Transportation to kill a proposed rule that would have prohibited the transportation of flammable liquids in the pipes underneath tankers Transportation of flammable liquids by rail Within a year, the Secretary of Transportation has to create regulations to require railroads to report accurate, real-time information about hazardous liquids being transported to the local fusion centers, who will share the information with State and local first responders. Tank cars that do not meet Federal standards can still be used to transport oil and ethanol until 2018 or May 2025, depending on the type of tank car. The Secretary of Transportation can extend the deadlines for up to 2 years The Secretary of Transportation will have 180 days to create regulations to make sure that tank cars modified to meet Federal standards be equipped with insulating blankets that have been approved by the Secretary. Title XI - Rail Funding Levels Amtrak, which owns the tracks and passenger cars operating in the Northeast, will get an average of $519 million per year. For Amtrak operations in the rest of the country, where private freight companies own our tracks, Amtrak will receive an average of $1 billion per year. Food and Beverage Reform Amtrak will have 90 days to develop a plan to eliminate the operating loss associated with offering food and beverages on Amtrak trains in a way that doesn't eliminate any Amtrak employee positions Amtrak will be cut off from Federal funds to cover food and beverage related operating losses in December 2021. Pets on Trains Amtrak will have one year to launch a pilot program allowing dogs and cats on trains Gulf Coast Rail A working group will be created and have nine months to develop a recommendation for the best option for restoring intercity rail passenger transportation between New Orleans, LA and Orlando, FL. Privatizing long distance routes The Secretary of Transportation will have to create a pilot program by mid-2017 that will allow non-Amtrak companies to operate up to 3 long distance passenger rail routes. The non-Amtrak operator will have control of the route for four years and it can be renewed once for an additional four year period. The operator will be given an operating subsidy for up to 90% of what the government is giving Amtrak. The non-Amtrak operator can be the private company that owns the tracks, another private company that has an agreement with the track owners or the States. The non-Amtrak operator will be given access to Amtrak's reservation system, stations, and operations facilities and will be required to give hiring preferences to the Amtrak employees laid off because of the transfer. Cameras on Trains By the end of 2017, the Secretary of Transportation must create regulations requiring inward and outward facing cameras in the control cabs on all passenger trains Liability Cap Amtrak can not be held liable for more than $295 million for the fatal accident that occurred on May 12, 2015. Title XXIV - Motor Vehicle Safety Recall Information The Secretary of Transportation will have until the end of 2017 to create a public website for easily accessible information on vehicle safety recalls. Information about recalls will have to be sent to consumers electronically in addition to first class mail. There will be a two year pilot program testing the idea of States informing customers of recalls when they register their vehicles. Doubles the amount of time consumers get to have their recalled tires replaced from 60 days to 180 days. Rental Car Safety Rental car companies with more than 35 cars can sell, lease, or rent out cars only after they have fixed whatever was recalled. They can continue to rent out the cars until the solution is available, if it is not immediately available at the time they are notified. Motor Safety Violation Penalties Increases the penalties from $5,000 per violation to $21,000 per violation, capped at $105 million. Driver Privacy Information from a car's event data recorder can only be accessed by someone other than the owner or lessee if it's authorized by a court, is provided willingly by the owner/lessee, is needed for emergency response purposes, or is for traffic safety research and the personally identifiable information is hidden. Tires The Secretary of Transportation will create regulations for tire fuel efficiency minimum performance standards, taking steps to ensure that wet traction functionality is not effected. Creates a publicly searchable electronic database for tire recall information Whistleblowers If a whistleblower gives credible and unique information about a safety problem to the Secretary of Transportation that results in sanctions, the whistleblower can get between 10 and 30 percent of the award. Title XXXII - Offsets Passport Denials for Tax Delinquencies If a person has a seriously delinquent tax debt over $50,000, the Secretary of State must deny new passports and can revoke, or limit existing passports. Privatize Tax Collection Forces the Treasury Secretary to issue at least one contract for tax collection services by April 2016. Customs Fees Increases a list of customs fees every year with inflation. Federal Reserve Funds Limits the amount of money that can be held by the Federal Reserve banks to $10 billion and transfers the remainder to the general fund of the Treasury. Adjusts dividends for Federal Reserve stockholders to the lower of the rate of the 10 year Treasury notes or 6 percent Strategic Petroleum Reserve Requires the Secretary of Energy to sell at least 66 million barrels of oil from the Strategic Petroleum Reserve and deposit the money into the general fund of the Treasury. The amount sold may be increased at the discretion of the Energy Secretary until the revenue totals $6.2 billion. Crop Insurance Profits Repeals a part of the Bipartisan Budget Act that caps the returns for crop insurance providers at 8.9% Oil & Gas Royalties Eliminates interest payments that oil and gas companies could accrue on overpayments. PAYGO Scorecard The effects of this law on the budget will not be counted Title LI - Taxpayer protection provisions and increased accountability Export-Import Bank Reauthorizes the Export-Import bank until September 30, 2019 and reduces the amount of loans, guarantees, and insurance the Export-Import bank can have outstanding to $135 billion (from $140 billion). Requires the Export-Import bank to hold 5% of it's funds in reserve to protect against losses. Requires independent audits of the Export-Import bank's portfolio Creates a pilot program that allows the Export-Import Bank to enter into contracts to "share risks". The amount of liability allowed to be transferred is capped at a total of $10 billion. Title LV - Other Matters Environmental Law Waivers In an emergency during which there is a sudden increase in energy demand - which includes during a war that the United States is involved in - "any party" that follows an order to generate electricity can not be sued for violating "any Federal, State, or local environmental law or regulation". The order that allows immunity for breaking environmental laws will expire in 90 days, but the order can be renewed as the Federal Energy Regulatory Commission "determines necessary to meet the emergency and serve the public interest." If the emergency order is set aside by a court, the immunity remains. Strategic Transformer Reserve The Secretary of Energy will have one year to create a plan to store spare large power transformers and substations that are critical infrastructure or support military installations. Title LXXI - Improving Access to Capital for Emerging Growth Companies Makes it easier and faster for a company that makes under $1 billion per year to offer stock to the public. Title LXXII - Disclosure Modernization and Simplification Reduces paperwork for companies that make under $1 billion per year and want to offer stock to the public. Title LXXIII - Bullion and Collectible Coin Production Efficiency and Cost Savings Removes the requirement that collectable coins be 10% copper Title LXXIV - SBIC Advisors Relief Investment advisors who solely advise small business investment companies will be able to be excluded from registration requirements even if they are managing assets over $150 million (current limit for exemption from registration requirements). Title LXXV - Eliminate Privacy Notice Confusion Banks will not have to mail privacy notices to their customers if they haven't changed their policies since the last disclosure was sent. Title LXXVI - Reforming Access for Investments in Startup Enterprises Allows privately held shares to be sold to "accredited investors" without registering the securities with the Securities and Exchange Commission. Title LXXXII - Capital Access for Small Community Financial Institutions Allows privately insured credit unions to become members of Federal Home Loan Banks if they are FDIC eligible or are certified by the State If the State doesn't get to it in under 6 months, the application is deemed approved. Title LXXXIII - Small Bank Exam Cycle Reform Doubles the size of a bank that counts as a "small bank" from banks that have less than $500 million to banks that have less than $1 billion for the purpose of allowing those banks to have on-site examinations by regulators every 18 months instead of every year. Sound Clip Sources Hearing: House Rules Committee Meeting on Highway Bill Amendments-Part 1, November 3, 2015. Hearing: House Rules Committee Meeting on Highway Bill Amendments, Part 2, November 3, 2015. Hearing: Federal Railroad Administration Confirmation Hearing, Senate Commerce, Science, and Transportation Committee, September 17, 2015 Hearing: Positive Train Control, House Transportation Subcommittee on Railroads, Pipelines, and Hazardous Materials, June 24, 2015. Hearing: Amtrak Derailment, House Transportation and Infrastructer Committee, June 2, 2015. Recommended Congressional Dish Episodes Congressional Dish Episode 99: April Takes a Turn By Jennifer Briney, June 27, 2015 Congressional Dish Episode 73: Amtrak, By Jennifer Briney, June 24, 2014 Congressional Dish Episode 62: The Farm Bill By Jennifer Briney, February 8, 2014. Reports Federal Public Transportation Program: In Brief By William J. Mallett, December 28, 2015. Congressional Budget Office: H.R. 22, the FAST Act, December 2, 2015. Additional Reading Article: Rental companies now have to repair recalled cars By Chris Isidore, CNN Money, June 1, 2016. Article: NTSB: Philly Amtrak crash engineer’s fault By Bill Cummings, CtPost, May 17, 2016. Article: With RAISE Act, Congress Paves Way For Private Secondary Markets By Shriram Bhashyam, TechCrunch, December 20, 2015. Article: Highway Bill Restores Crop Insurance Funding Cut in Budget Deal, Insurance Journal, December 4, 2015. Article: Fewer Taxpayer Giveaways Would Cut The Fat, Not ‘Cripple’ Crop Insurance By Shannon Van Hoesen, Environmental Working Group, December 3, 2015. Article: FAST Act (H.R. 22): Surface Transportation Conference Report Released By Robert S. Kirk, December 2, 2015. Article: $305B highway bill taps Fed, oil reserves By Keith Lang, The Hill, December 1, 2015. Article: Congress votes to delay rail safety mandate by 3 to 5 years, fund transportation programs By Joan Lowy, U.S. News and World Report, October 28, 2015. Article: Ag Committee Leaders Stand United Against Reopening Farm Bill to New Crop Insurance Cuts By Meghan Cline, United States Senate Committee on Agriculture, Nutrition, and Forestry, October 27, 2015. Article: 'Devastating' crop insurance cut sends lawmakers scrambling By Philip Brasher, Agri-Pulse, October 27, 2015. Article: Rail-safety deadline extension hitched to must-pass bill on transit funding By Ashley Halsey III and Michael Laris, The Washington Post, October 27, 2015. Article: Deadline for train safety technology undercut by industry lobbying By Ashley Halsey III and Michael Laris, The Washington Post, October 25, 2015. Article: Stop pretending you know what the Export-Import Bank is By Simone Pathe, PBS, September 15, 2014. Article: REUTERS SUMMIT-U.S. Ex-Im bank would back Airbus sales -Hochberg By Alwyn Scott and Tim Hepher, Reuters, September 10, 2014. Article: CARGO TANK TRUCKS: Improved Incident Data and Regulatory Analysis Would Better Inform Decisions about Safety Risks By Susan A. Fleming, U.S. Government Accountability Office, September 11, 2013. Article: How the cult of shareholder value wrecked American business By Steven Pearlstein, The Washington Post, September 9, 2013. Article: NTTC Asks LaHood to Halt Rulemaking On Wetlines Procedures, Tanker Design By Timothy Cama, Transport Topics, October 10, 2011. Article: Hazardous Materials: Safety Requirements for External Product Piping on Cargo Tanks Transporting Flammable Liquids By Pipeline and Hazardous Materials Safety Administration, January 27, 2011. Additional Information U.S. Department of Homeland Security Budget-in-Brief Fiscal Year 2016 U.S. Department of Transportation Federal Aviation Administration Budget Estimates, Fiscal Year 2016 Metra Website: Positive Train Control Joint Explanatory Statement explaining the FAST Act OpenSecrets: Profile of National Tank Truck Carriers Inc OpenSecrets: Top Contributors to Chairman of the House Transportation Committee, Bill Shuster OpenSecrets: Top Contributing Industries for Chairman of the House Transportation Committee, Bill Shuster OpenSecrets: Career Profile for Rep. Steve Stivers of Ohio's 15th district Website: Federal Energy Regulatory Commission Website: Export-Import Bank of the United States Website: Risk Management Agency/U.S. Department of Agriculture: Crop Insurance Providers List for 2016 Website: Department of Transportation Fact Sheet Website: United States Department of Transportation, Bureau of Transportation Statistics: Transportation Fatalities by Mode YouTube: 9/11 hijackers at Dulles Airport, October 3, 2008. Music Presented in This Episode Intro & Exit: Tired of Being Lied To by David Ippolito (found on Music Alley by mevio) Cover Art Design by Only Child Imaginations

Congressional Dish
CD110: Government Funding Crisis of 2015

Congressional Dish

Play Episode Listen Later Dec 6, 2015 75:05


Government shutdown ahead! On December 11th, the government is scheduled to run out of money. In this episode, hear the story of how we ended up on the brink of a shutdown (again) and what you can expect in the next few weeks (hint: A huge must-sign bill that includes lots of corporate favors). We also take a look at the Bipartisan Budget Act of 2015, signed into law in November, which raised the debt ceiling and set the overall budget amount for the giant government funding bill to come. Please support Congressional Dish: Click here to contribute with PayPal or Bitcoin; click the PayPal "Make it Monthly" checkbox to create a monthly subscription Click here to support Congressional Dish for each episode via Patreon Mail Contributions to: 5753 Hwy 85 North #4576 Crestview, FL 32536 Thank you for supporting truly independent media! Bipartisan Budget Act Outline H.R. 1314: The Bipartisan Budget Act of 2015 Budget Enforcement Cancelled the sequester for 2016 and 2017 Spending levels 2016: $548 billion for security, $518 billion for non-security 2017: $551 billion for security, $518 billion for non-security War spending levels ("Overseas Contingency Operations") 2016 & 2017 $59 billion for "National Defense" $15 billion for "International Affairs" Agriculture Caps the rate of return for private insurance providers at 8.9% of the premium through 2026. For context, please listen to CD062: The Farm Bill Commerce Allows robo-calls to cell phones for collecting US government debts Strategic Petroleum Reserve Orders the sale of oil from the Strategic Petroleum Reserve. 5 million barrels a year through 2022 8 million barrels in 2022 10 million barrels a year from 2023 through 2025 Pensions Increases pension fund premiums that employers must pay starting in 2017. Health Care Reduces 2016 premiums for Medicare Part B by adding a $3 surcharge for future years. Charges drug manufacturers a rebate if they increase their prices for generic drugs more than the rate of inflation. Starting on January 1, 2017, Medicare will pay the same rate for services provided in a hospital and services provided outside the hospital. Facilities that were billing as hosptitals before the enactment of this law are exempt. Repeals the automatic enrollment of employees in employer provided health insurance plans. Judicial Increases penalties for health care providers accused of fraud in the Medicare and Medicaid system. Permanently cancels $1.5 billion in the Crime Victims Fund Eliminated $746 million in civil forfeiture money from the Justice Department piggy bank. Social Security Expands "disability investigation units" with partner with local law enforcement to ensure they exist in all 50 states and all territories. Increases penalties for social security fraud Eliminates the "file and suspend" option for social security benefits Temporary extension of public debt limit Suspends the debt ceiling until March 16, 2017. Spectrum Pipeline Creates a plan for auctioning federal wireless spectrum to telecommunications corporations by January 2022. Revenue provisions related to tax compliance Changes the IRS audit rules for large corporations, hedge funds, and private equity funds. Audio Sources Hearing: Rules Committee Hearing Senate amendment to H.R. 1314, House Rules Committee, October 27, 2015. Additional Reading Article: Congress avoids government shutdown by Ted Barrett and Deirdre Walsh, CNN, September 30, 2015. Article: Budget Pact Raids Victims Fund by Devlin Barrett, The Wall Street Journal, November 1, 2016. Article: Federal budget clears crop insurance hurdle by Wes Wolfe, The Free Press, November 3, 2015. Article: Bipartisan Budget Act of 2015 changes audit rules for private equity and hedge funds by Karl Fryzel and Michael Conroy, Lock Lord LLP, November 3, 2015. Article: Budget Deal Gives Debt Collectors Authority to 'Robocall' Cellphones by John Schoen, CNBC, November 5, 2015. Article: Budget deal raises stakes for false claims, civil monetary penalties by Lisa Schencker, Modern Healthcare, November 9, 2015. Article: Social Security, Medicare changes are coming with new budget law by Robert Powell, USA Today, November 28, 2015. Article: Pelosi spurns Ryan's opening bid, mulls counteroffer by Jake Sherman and John Bresnahan, Politico, December 2, 2015. Sources Report: Estimate of the Budgetary Effects of H.R. 1314, the Bipartisan Budget Act of 2015, Congressional Budget Office, October 28, 2015. Report: How the Bipartisan Budget Act of 2015 Changes Social Security Claiming Strategies Social Security Solutions, November 5, 2015. Report: What's in Store for Medicare's Part B Premiums and Deductible in 2016, and Why? by Juliette Cubanski and Tricia Neuman, The Henry J. Kaiser Family Foundation, November 11, 2015. Newsletter: Congress Takes Step Toward Site-Neutral Medicare Payments in Bipartisan Budget Act of 2015, McDermott, Will & Emery, October 29, 2105. Webpage: Budget Functions Webpage: American Crossroads/Crossroads GPS by Zachary Paiker, FactCheck,org, February 7, 2014. Webpage: Priorties USA/Priorties USA Action by Rachel Finkel, FactCheck.org, March 3, 2014. Webpage: Telecom Services & Equipment: Long-Term Contribution Trends, Opensecrets.org Jen's Podcast Appearance Lions of Liberty Podcast: December 7, 2015 episode Music Presented in This Episode Intro & Exit: Tired of Being Lied To by David Ippolito (found on Music Alley by mevio) Cover Art Design by Only Child Imaginations

Capitol Crude: The US Oil Policy Podcast
Ready your buzzers to answer the US oil policy news quiz

Capitol Crude: The US Oil Policy Podcast

Play Episode Listen Later Nov 16, 2015 8:56


This week, Capitol Crude becomes Capitol Crude Conundrum, America's favorite US oil policy game show. Platts senior editors Brian Scheid and Herman Wang welcome special guests, like Brent from West Texas, and take on some of the latest issues in the American oil industry.From the Keystone XL...

The T. Boone Pickens Channel
Episode 10: Dr. Arthur Herman of the Hudson Institute

The T. Boone Pickens Channel

Play Episode Listen Later Sep 10, 2015 25:23


T. Boone Pickens and the Hudson Institute's Dr. Arthur Herman talk about the enormous impact hydraulic fracturing and horizontal drilling have had on OPEC and the world economy in general. They also explore how fracking is affecting Russia’s economy and Putin’s view of the United States. The conversation includes discussion of the Keystone Pipeline and the Strategic Petroleum Reserve. Follow @arthurlherman and @boonepickens on Twitter.

Capitol Crude: The US Oil Policy Podcast
Looking forward to the next year of US crude oil news

Capitol Crude: The US Oil Policy Podcast

Play Episode Listen Later Jul 27, 2015 10:18


Which anniversary includes the traditional gifting of a barrel of crude oil? On the 50th episode of Capitol Crude, Platts senior oil reporters Brian Scheid and Herman Wang look back at their year in podcasting and revisit some of the hottest oil topics to see what's changed and what's new. What...

Capitol Crude: The US Oil Policy Podcast
Call now and we'll double your offer: Selling oil from the SPR

Capitol Crude: The US Oil Policy Podcast

Play Episode Listen Later Jun 8, 2015 10:09


Is a new plan by Congress to sell 64 million barrels of crude from the US Strategic Petroleum Reserve like a get-rich-quick scheme that's just too good to be true? Platts senior editors Brian Scheid and Herman Wang look at whether this plan could lead to an actual profit or just a convenient way to...

Capitol Crude: The US Oil Policy Podcast
Does the US really need all the oil stashed in the Strategic Petroleum Reserve?

Capitol Crude: The US Oil Policy Podcast

Play Episode Listen Later Oct 27, 2014 6:16


On this week’s Capitol Crude podcast, Platts senior editors Herman Wang and Brian Scheid ask if the hundreds of millions of barrels of crude oil stashed away by the US government may indicate a hoarding problem. The Strategic Petroleum Reserve, hidden away in Louisiana and Texas, was born of...

WorldAffairs
Alex Prud'homme: Hydrofracking: Risks and Rewards

WorldAffairs

Play Episode Listen Later Oct 29, 2013 60:19


The meaning of North American energy independence and how to achieve it has been a hot topic of debate for years.  The oil crisis of 1973 brought into focus the stark reality that the US was reliant on other nations for access to oil. Determined to prevent similar incidents, the Strategic Petroleum Reserve was created in 1975 and today the US has the capacity to hold up to 727 million barrels of emergency fuel. Though it sounds like an immense amount of oil, it equates only to an estimated 36 days of use. So the search for an alternative, safe, clean and affordable domestic source of energy has continued. Scientists had known for years about natural gas trapped in a dense layer of sedimentary rock—known as shale—buried a mile or more underground all over the country. The problem with shale gas was it was too difficult to access; a problem solved by 'hydrofracking', commonly referred to as, 'fracking'.  A little over a decade ago scientists created a process to inject water under high pressure into shale, breaking it and releasing trapped gas and oil. This simple idea of injecting water into the ground effectively lit the fuse that has caused an American energy explosion. Shale gas is cleaner than coal and oil. Fracking has created jobs, lowered emissions, kick-started industry and for the first time in decades created an energy surplus in the US.  However, fracking comes with its own environmental costs.Inspired by his previous book, "The Ripple Effect: the Fate of Freshwater in the Twenty-First Century", author and journalist Alex Prud'homme began researching the impact fracking has on the quantity and quality of fresh drinking water. The result is a guide that weighs the evidence both for and against fracking. Prud'homme will give an unbiased presentation of the present state of hydrofracking to bring clarity to a debate that, in his words, "has been exacerbated by an absence of hard data and an excess of hyperbole on both sides".Speaker Alex Prud'homme is a journalist and he is the author of "Hydrofracking: What Everyone Needs to Know".For more information about this event, visit: http://www.worldaffairs.org/events/2013/hydrofracking.html

BrainStuff
What is the Strategic Petroleum Reserve?

BrainStuff

Play Episode Listen Later Jan 7, 2013 3:54


The Strategic Petroleum Reserve is the world's largest emergency oil stockpile. But why do we have it? Where do we keep it? Find out why the United States created this reserve and where the oil is stored in this episode. Learn more about your ad-choices at https://news.iheart.com/podcast-advertisers

Cato Daily Podcast
Strategic Petroleum Reserve

Cato Daily Podcast

Play Episode Listen Later Sep 25, 2008 11:15


See acast.com/privacy for privacy and opt-out information.

Cato Event Podcast
Strategic Petroleum Reserve: Reform or Elimination?

Cato Event Podcast

Play Episode Listen Later Sep 12, 2008 47:37


Whenever gasoline prices are on the rise, so is the political interest in the Strategic Petroleum Reserve, the largest single stockpile of crude oil in the world. Some argue that part of its approximately 700 million barrels should be released into the market to help relieve high prices at the pump. Others argue that the Reserve should be carefully husbanded for use in a future crisis. Jerry Taylor, author of “The Case against the Strategic Petroleum Reserve,” questions the very need for the SPR and calls not for release, but for total liquidation. Economist Steve Hanke argues that, if we’re going to have an SPR, it should be reformed so that it can play a constructive role in crude oil markets. See acast.com/privacy for privacy and opt-out information.