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Trump rolled that back to 1.5 pc per year and added another year to the rules. Biden’s plan requires 10pc emissions reductions in 2023 and 5pc every year after that through 2026. Trump’s standards ended with the fleet averaging about 29 miles per gallon (mpg) in real-world driving. The Biden rule should be close to the Obama mileage requirement, about 37mpg. Consumer Reports calculates that the new standards will deliver only 75pc of the emissions cuts from the original Obama standards because of delays caused by Trump and loopholes. Will…

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The Oil and Gas Regulatory Authority (Ogra) has urged the public representatives and government to come up with policy guidelines for competition-based development and expansion of national grid and new residential gas connection in view of the expiry of monopoly of the two gas companies — Sui Northern Gas Pipelines Limited and Sui Southern Gas Company Limited. “Please be advised that exclusivity of the gas companies to operate in franchise areas is no longer valid and hence new development schemes are to be awarded on a competitive basis,” Ogra wrote…

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France’s top administrative court has fined the government a record sum for failing to reduce air pollution to acceptable levels. The Council of State on Wednesday slapped its highest fine ever, 10 million euros, on President Emmanuel Macron’s government, warning it would do so again within months if the authorities fail to act quickly to combat smog. Announcing the record fine, the Council of State, France’s top administrative tribunal, said measures decided by the government were insufficient to improve air quality. Last year, the council ruled that the government had…

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What would it take to maximize returns from the ongoing deregulation and run the overall gas sector on a sustainable basis? In order to maximize returns from private sector involvement and ensure sustainability of the overall natural gas sector, it is important to first adopt a holistic approach to resolve the deep-rooted structural and operational challenges. Underpricing of the fuel is a major challenge, and unless the subsidy structure is rationalized and ultimately done away with, the financial viability of the natural gas sector would be difficult. As observed in…

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As the petroleum sector circular debt stands at a whopping Rs1.6 trillion or 3.35 percent of GDP, the government has another plan to create fiscal breathing space for the entities gasping for cash, according to official documents. With petroleum sector circular debt hovering over Rs1.6 trillion including Rs1.1 trillion principal plus Rs500 billion late payment surcharge, Ministry of Energy has started to deliberate upon a new plan to reduce liquidity problem of the companies trapped in the vicious debt cycle, according to official correspondence on reforms pertaining to various strategic…

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