While Congress Fiddles, Private Sector Plans

By December 12, 2007General

The back and forth on H.R. 6, the anti-energy bill, continues in the Senate, with the 15 percent renewable fuels mandate on utilities now, apparently, being taken off the table, perhaps. There’s still $21.5 billion in tax increases on energy production in the legislation, so to speak of progress would be an exagerration.

Meanwhile, the private sector steps up to the plate. We linked to stories about Shell and Motiva’s Port Arthur Refinery expansion yesterday. Today, plans for an LNG terminal announced by Exxon Mobil.

12/11/2007 11:03:22 PM Tuesday evening, Irving, Texas-based oil giant Exxon Mobil Corp. (XOM) said it is to seek regulatory approval to build a floating LNG receiving terminal, named BlueOcean Energy, anchored about 20 miles off the New Jersey coast. The terminal would cater to the natural gas needs of five million customers in New Jersey and New York, while creating a gateway to global supplies. Pursuant to all approvals and time required for engineering and construction, BlueOcean Energy terminal is expected to begin service around the middle of the next decade. BlueOcean Energy is at the start of a lengthy and rigorous permitting process involving state and federal agencies, as well as the general public.

The offshore location — made possible by technological advances in platforms and ships — should ameliorate the NIMBY-ism that now dominates discussions of any new energy facility. Should…

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