-A Houston Chronicle report notes the heightened intensity of cost concern discussions at this year’s IHS CERAWeek energy summit. Chevron’s CEO said earlier this week higher labor costs are built into oil prices and Total’s chief stated bluntly his company “cannot continue to swallow this huge inflation.” Meanwhile, an IHS official quoted in the story says such talk amounts to browbeating of service companies by operators.
-Amid fears that Russian aggression could result in energy supply disruptions in Europe, Gazprom has threatened to cut off the Ukraine’s gas supply over unpaid bills. The Russian firm said, however, that gas deliveries to Europe through the Ukraine are stable.
-Just a few days after House Speaker John Boehner bemoaned the government’s “achingly slow” process for approving LNG export permits, Sen. Ed Markey launched a bill that would draw it out even more. Via Reuters, Markey’s bill would require the DOE to consider the impact of LNG exports on consumers, the economy and foreign policy.
-New Jersey-based power company Public Service Enterprise Group (PSEG) will spend $12 billion over the next five years, primarily to improve transmission reliability. PSEG CEO Ralph Izzo said the company has five major projects underway, with an additional 345-kilovolt line expected to be in service by 2018.
-Meanwhile, railroad congestion due to cold weather is forcing some coal-fired power plants to idle units as stockpiles are depleted.
