Best of the Blogs, Energy: Spectra Energy's Proposal for Manhattan Pipeline Approved by Fed

By Kathleen Culliton  MAY 22, 2012 3:15 PM

Plus, House Armed Services Committee ends military biofuel program.


This column highlights the most interesting and useful business and financial commentary on energy from around the Web every Tuesday.

DNA Info
Link: Meatpacking District Natural Gas Pipeline Approved by Feds
"A Texas-based energy company planning to build a natural gas pipeline that would snake under the Meatpacking District got a big boost Monday, when the federal agency that regulates interstate energy projects unanimously backed the project. The Federal Energy Regulatory Commission ruled that designs by Spectra Energy Corp. (SE) to build a nearly 20-mile, $857 million pipeline stretching from Linden, NJ to under Gansevoort Street will be safe, the agency wrote in an order published online."  (Also read 5 Wellheads of Profit in Domestic Energy.)

Fuel Fix
Link:  Amid Heat from Critics, Chesapeake Standing by Growth Plan 
"Chesapeake Energy Corp. (CHK) doubled down Tuesday on a plan that has drawn criticism from shareholders over its aggressive approach to expand during a major cashflow crunch. The nation’s second-largest natural gas producer after Exxon Mobil Corp (XOM), in an investor presentation posted on its website Tuesday, said it has 'withstood an unprecedented negative media campaign' over the last five weeks, which has prompted 1.2 billion shares of company’s stock to trade hands, nearly double the amount of its shares outstanding." (For related content, see The Upward Convergence of Natural Gas Will Remain Difficult to Play.)
Auto Blog Green
Link: House Committee Votes to End Military Biofuel Programs
"A Republican-led group within the House Armed Services Committee recently voted to ban the US Department of Defense from paying more for biofuels used for military vehicles than regular fuels, putting at risk hundreds of millions of dollars worth programs approved during the past few years for the purpose of cutting foreign-oil dependency, according to Talking Points Memo."
Market Watch
Link: Heliae Breaks Ground on Commercial Demonstration Facility for Algae Production
"Heliae, an Arizona-based algae technology company, broke ground today on a commercial demonstration facility that will showcase the scalability and economics of its proprietary algae technology platform.... By enabling the scaled production of algae, Heliae's technology will allow its partners to access the billion dollar markets of functional foods, animal feeds, fuels, chemicals, pharmaceutical, and cosmetics. These dynamic markets are all demanding sustainable alternatives and algae can fulfill this need." (Also read  Who Are the Top 5 People Influencing Renewable Energy in the US?)

The Hill
Link: Consumer Group: Drivers Support 54.5 MPG Fuel Standard
"The Obama administration's proposed fuel economy standard of 54.5 miles per gallon is popular with drivers, a consumer group said Tuesday. Some Republicans have questioned the development of the proposal, which calls for increasing fuel standards for vehicles after model year 2017 until a fleet-wide average standard of 54.5 miles per gallon is reached by 2025. They argue that the rules were developed in secret and will limit consumers' choices in automobile purchases."
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