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2021 is already poised to offer substantial growth in the area of carbon capture and sequestration (“CCS”). On January 21, Elon Musk announced on Twitter that he will donate $100 million to the “best” carbon capture technology, chosen through a competition whose details and judging criteria are yet to be announced. Further, on February 1…

Yesterday, the United States Supreme Court heard oral arguments in the climate change lawsuit filed by the City of Baltimore in 2018 against energy companies. This case is one of a number of cases brought by states, cities, and other municipalities against energy companies alleging that the companies contributed to climate change. By granting certiorari and hearing oral arguments, the Supreme Court has agreed to review the Fourth Circuit Court of Appeals’ decision remanding the suit to state court after rejecting the energy companies’ contention that they were acting as federal officers pursuant to historical contracts with the federal government.
Continue Reading It’s Heating Up: United States Supreme Court Hears Arguments on Proper Jurisdiction for Climate-Change Lawsuit

On October 26, 2020, the U.S. Small Business Administration (“SBA”) published a notice seeking comment on two Loan Necessity Questionnaires (Form 3509 for “for-profit” entity borrowers and Form 3510 for “non-profit” entity borrowers) that are to be submitted by borrowers who have received Paycheck Protection Program (“PPP”) loans and are seeking forgiveness of those loans pursuant to section 1106 of the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”).
Continue Reading SBA and IRS Create Further Uncertainty with the Federal Income Tax Deductibility of Certain Expenditures Paid for with Funds from a PPP Loan

Governor John Bel Edwards has identified offshore wind energy as a feature component of his recently announced renewable energy initiative for the Gulf of Mexico. The Governor announced the initiative at the inaugural meeting of his Climate Initiative Task Force.
Continue Reading Governor Edwards Indicates that Offshore Wind is on the Horizon in the Gulf of Mexico

Several major oil and gas producers around the world are working with the Rocky Mountain Institute to develop a digital platform to assist in tracking and reducing emissions. Shell, ExxonMobil and Chevron are among the industry leaders piloting this new digital platform, which will enable emissions data to be obtained from a number of different sources, as well as industry reports. The digital platform being utilized is called the Climate Action Engine (CAE).
Continue Reading Drilling for our Future: Technological Advances Leading the Industry

Recent jurisprudential and legislative developments have significantly altered the Louisiana state tax penalty regime.  First, the Louisiana Supreme Court on November 4, 2020 denied the Louisiana Department of Revenue’s writ application in Smith International, Inc. v. Kimberly Robinson, Secretary, Louisiana Department of Revenue [1], rendering the earlier decision by the Louisiana First Circuit Court of Appeal final.  Now, the penalties imposed by Acts 2015, No. 128, eff. July 1, 2015 cannot be applied to tax periods prior to July 1, 2015.  In addition, the late payment penalty in La. R.S. 47:1602(A) is no longer applicable to amounts later assessed on taxpayers who timely filed their returns and remitted the amount of tax shown as due on their tax returns.  Taxpayers under audit should object to the Department of Revenue asserting these penalties in audit workpapers.
Continue Reading Recent Changes to Louisiana Tax Penalty Regime

With recent increased investments in wind power, the development of floating offshore wind farms presents the potential to access areas previously unavailable. On floating offshore wind farms,  a wind turbine is attached to a floating structure which is tethered to the sea floor, as opposed to the turbine being a fixed foundation in the sea. This allows the wind turbines to operate in deeper waters.[1]
Continue Reading Floating Foundations: The Future of Offshore Wind

Earlier this month, Gulf Coast Sequestration (“GCS”), a limited liability company based in Lake Charles, announced its plans to build and operate a carbon capture and sequestration (“CCS”) project that will create a repository 10,000 feet underground for the permanent storage of more than 80 million tons of carbon. Once completed, the GCS facility is expected to be the largest CCS project in the United States and one of the largest in the world, according to its press release.
Continue Reading Advancement of CCS in Louisiana

In the midst of a chaotic year and a tense campaign season, issues such as COVID-19, race relations, and healthcare seem to be at the forefront of Americans’ minds as they head to the polls on November 3.  But the oil and gas industry stands to be impacted regardless of the election outcome in November, and those impacts will have wide-reaching effects on the U.S. economy, its energy independence, and its diplomatic relations.  The 2020 Presidential candidates, Republican Donald Trump and Democrat Joe Biden, have divergent positions on U.S. oil and gas production, with the former pledging continued expansion of domestic oil and gas drilling and production, and the latter pledging to transition the U.S. away from its reliance on fossil fuels.
Continue Reading Presidential Election 2020: Considerations for the Oil & Gas Industry

In the midst of a chaotic year and a tense campaign season, issues such as COVID-19, race relations, and healthcare seem to be at the forefront of Americans’ minds as they head to the polls on November 3.  But the oil and gas industry stands to be impacted regardless of the election outcome in November, and those impacts will have wide-reaching effects on the U.S. economy, its energy independence, and its diplomatic relations.  The 2020 Presidential candidates, Republican Donald Trump and Democrat Joe Biden, have divergent positions on U.S. oil and gas production, with the former pledging continued expansion of domestic oil and gas drilling and production, and the latter pledging to transition the U.S. away from its reliance on fossil fuels.
Continue Reading Presidential Election 2020: Considerations for the Oil & Gas Industry