Energy Reforms News

On January 14, 2022 the European Parliament’s Rapporteur, MEP Peter Liese, published his draft report on a proposal to revise the Emissions Trading System (ETS) Directive¹ which forms part of the ‘Fit for 55’ package of climate and energy reforms published on July 14, 2021. The draft report includes a number of ambitious amendments to emissions trading for the maritime sector – the Maritime ETS – which, if agreed, will put more pressure on the maritime industry to switch to cleaner fuels sooner than originally planned.

The U.S. House of Representatives passed a wide-ranging bill on energy reforms on Thursday that includes a measure to repeal the 40-year-old oil export ban, but the legislation did not get enough votes to overturn a potential veto by President Barack Obama. The North American Energy Security and Infrastructure Act passed 249 to 174, but did not get the 290 votes needed to overcome a veto. The bill would also speed the permitting of liquefied natural gas (LNG) exports and improve the aging power grid. The White House said late last month that Obama would veto the bill as it would reduce the government's ability to consider LNG projects. That veto threat came before the lawmakers added an amendment to repeal the oil export ban, which Obama also opposes.