American Oil and Gas Reporter - January 2021 - 12

IndustryDigest
U.S. Comptroller Issues
Fair Access Proposal
WASHINGTON-The federal Office
of the Comptroller has released a
proposed rule it says is intended to
ensure fair access to banking services
provided by national banks, federal
savings associations, and federal
branches and agencies of foreign bank
organizations.
The proposed Fair Access to
Financial Services rule was published
in the Nov. 25 Federal Register. OCC
says it would codify agency guidance
stating that banks should provide
access to services, capital and credit
based on the risk assessment of
individual customers, rather than broadbased decisions affecting whole
categories or classes of customers.
According to the OCC, the proposal
implements language in Title III of the
2010 Dodd-Frank Wall Street Reform
and Consumer Protection Act that
charges the OCC with " assuring the
safety and soundness of, and
compliance with laws and regulations,
fair access to financial services, and fair
treatment of customers. "
Under the Fair Access proposal,
OCC says, a bank may not deny a
customer service to disadvantage, limit
or prevent the customer from entering
or competing in a market or business
segment, or to benefit another person or
business activity.
The Independent Petroleum
Association of America points out that
the proposed rule specifically cites
" decisions by several of the nation's
largest banks to stop lending to new oil
and gas projects in the Arctic. "
Several producing-state lawmakers,
including U.S. Senator Ted Cruz, R-Tx.,
and the entire Alaska congressional
delegation have praised the proposed rule.
However, free market groups counter
that the knife cuts both ways and the
proposal flies in the face of limited
government.
The proposed rule also mentions
difficulties obtaining financing incurred
by family-planning organizations, and
published reports quote Competitive
Enterprise Institute Senior Fellow John
Berlau saying, " If banks deny funding
to everything from socialist websites to
alternative energy . . . it could be used
as a cudgel to force lending and other
forms of financing to those groups. " ❒
12 THE AMERICAN OIL & GAS REPORTER

Five More LNG Export
Authorizations Get Extensions From DOE
WASHINGTON-The U.S.
Department of Energy on Dec. 31
extended the terms of five long-term
liquefied natural gas export
authorizations through 2050, following
several LNG export term extensions
issued since October pursuant to an
export term policy statement DOE
finalized in July.
According to DOE, the move
extends terms for the Southern LNG
export facility operating in Georgia, the
Cameron LNG export facility operating
in Louisiana, the Annova LNG project
proposed in Texas, and Eagle LNG's
two small-scale facilities in Florida,
including the Maxville facility currently
in operation.
The issuances extend each project's
long-term LNG export authorization to
non-free trade agreement countries
through Dec. 31, 2050.
Including the term extension
applications granted on Dec. 31, longterm LNG export authorizations with
export terms through 2050 are now held
by 18 U.S. LNG export projects, as well
as the Costa Azul project in Mexico. ❒

PAW Applauds BLM's OK
Of Converse County, Wy.,
EIS Record Of Decision
CASPER, WY.-When the U.S.
Bureau of Land Management
announced on Dec. 23 that the
Converse County, Wy., environmental
impact statement record decision had
been signed, the Petroleum Association
of Wyoming hailed the news as an early
Christmas gift to the state.
PAW points out that BLM
determined the project can go forward
following nearly a decade of review that
has resulted in thousands of pages of
documentation.
According to BLM, the EIS
evaluates an oil and gas development
proposal submitted by Occidental
Petroleum Corp., Chesapeake Energy
Corp., Devon Energy, EOG Resources
Inc. and Northwoods Energy. The
operator group proposes to drill 5,000
oil and gas wells in an area covering 1.5
million acres over 10 years.

" Given the extensive review that has
gone into this decision over the past
eight years, we welcome BLM's
decision to approve the Converse
County EIS, " PAW President Pete
Obermueller says. " This record of
decision is proof natural gas and oil
development can happen in balance
with the need to protect our natural
resources and wildlife. As the current
pandemic subsides and global demand
for petroleum products returns, today's
decision will position Wyoming to
capitalize-bringing jobs to East-Central
Wyoming and much needed revenues
into state coffers. " ❒

Penalties Get Stiffer For
Infrastructure Sabotage
Under Ohio-Passed Bill
COLUMBUS, OH.-Buckeye State
lawmakers passed a bill on Dec. 22 that,
pending a signature from Governor
Mike DeWine, would heighten the
penalties for tampering with critical
infrastructure, including oil and natural
gas pipelines.
According to the Ohio Legislature's
website, S 33 was sponsored by Senator
Frank Hoagland, R-Mingo Junction.
The modifications it makes to Ohio law
regarding those convicted of willfully
damaging or interfering with the
operations of critical infrastructure
include:
· Allowing the owner or operator of
the infrastructure to pursue civil action
to recover compensatory damages, as
well as reasonable legal expenses;
· Making it possible to hold a
person or organization vicariously liable
if they facilitated the damage or
compensated someone for doing so; and
· Attaching a third-degree felony to
such activity, which entails fines as
large as $10,000 and prison sentences as
long as three years.
The legislation also enables plaintiffs
to recover civil damages regardless of
whether defendants have been charged
with or convicted of any criminal
offense. Along with pipelines, other oil
and gas facilities specifically mentioned
in the bill include refineries, compressor
stations, city gates and metering stations.
The bill also encompasses all facilities
involved in gathering, storing,
processing, transmitting, or distributing
oil, natural gas and natural gas liquids. ❒



American Oil and Gas Reporter - January 2021

Table of Contents for the Digital Edition of American Oil and Gas Reporter - January 2021

Contents
American Oil and Gas Reporter - January 2021 - Intro
American Oil and Gas Reporter - January 2021 - Cover1
American Oil and Gas Reporter - January 2021 - Cover2
American Oil and Gas Reporter - January 2021 - Contents
American Oil and Gas Reporter - January 2021 - 4
American Oil and Gas Reporter - January 2021 - 5
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American Oil and Gas Reporter - January 2021 - Cover3
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