Fossil Fuel Renaissance: How the Trump Administration Is Impacting
the Energy Industry Globally and Domestically
AGENDA
ACC Annual Meeting 2017
Session #103: Fossil Fuel Renaissance: How the Trump Administration Is Impacting the Energy Industry Globally and Domestically
Day and Time: Monday, October 16 from 10:00 a.m. – 11:30 a.m. ET.
Moderator: Susan Lafferty Panelists: Darrin Pfannenstiel; Karl Gressinger; Josh Kaplan
Theme of session: What does energy policy look like 10 months into the Trump administration, and where is it heading. Trump’s energy policy takes a more friendly approach towards traditional fossil fuels such as oil and coal. But is it actually causing a resurgence in the coal industry? Are consumers and businesses abandoning their electric and alternative-fuel vehicles, and reverting back to the use of diesel and gasoline cars and trucks? Can Trump’s policy change the direction of current law and regulation away from renewable fuels and clean power? And how is Trump’s energy policy affecting global markets that set the price for crude oil and other commodities? How is the US's participation in the Paris Agreement affected?
10:00 am Introduction – panel overview by Susan Lafferty
· Opening comments
o Welcome
§ Thank you to ACC and organizers and to companies/firms taking lead role on energy side.
§ Address any administrative matters
o Theme and areas of discussion
§ The election of Trump a year ago, and his taking office 10 months ago, has generally been viewed as being pro-traditional fossil fuels such as oil and, of course, coal. Very early on, Trump approved the Dakota Access Pipeline and then made moves to clear the way for the Keystone XL Pipeline. There have been actions too on the Clean Power Plan, methane rules, and a review of fuel efficiency goals for vehicles.
§ At the same time, there were a lot of concerns over the impact of a Trump administration on climate change issues, including renewable fuel, and in the wake of the Paris withdraw. Many fear that just when it seems that the debate had shifted to whether the impact of climate change can be arrested and what the global society should do about it, we are back to debating whether there is human-caused (or perhaps, fossil fuel-caused) climate change in the first instance and therefore are there measures that could slow or alter climate change.
§ In this session, we are going to review where we see energy policy under Trump and we will pull out our crystal balls to consider where we are going. Of course, we will also discuss how these issues are affecting our daily roles as lawyers.
10:05 am Domestic Impact: Darrin Pfannenstiel; Sr. Vice President and Associate General Counsel, STREAM
· Efforts by state legislators and regulators
o The role of state renewable portfolio standards (RPS) policy in the energy industry;
§ State efforts to address environmental protections and climate change policy
· Job growth impact; and
· Environmental impact.
§ Role of the consumer/citizen.
o The impact of deregulated energy as an ancillary means to address energy policy through innovation and consumer choice.
10:18 am Domestic Impact: Susan Lafferty
· Fossil fuels v. renewables
o Will EPA’s RFS program be repealed, reformed, or amended? What will happen during a “reset” effort at EPA?
o What are the implications of California adopting the recent cap-and-trade law on the LCFS? What is the status of other state initiatives?
· Opportunities
o Use regulatory reform to streamline or clarify regulations.
§ For example, out-dated gasoline and ULSD rules.
o Revisit issues with regulators; where there is legal rational supporting a certain approach, but policy concerns of previous administrations led to a “no”, there could be opportunities to revisit the issue.
o Promote U.S. jobs and activity.
10:30 am Domestic and International: Karl Gressinger; Managing Counsel, Commercial, Andeavor
· Despite U.S. announcing withdrawal from Paris climate accord, many U.S. states, countries and global companies are maintaining/growing their initiatives with the goal of meeting global clean fuel standards and developing cleaner forms of energy.
10:42 am Domestic and International: Josh Kaplan; Lead Counsel, Statoil US Holdings, Inc.
· Despite U.S. announcing withdrawal from Paris climate accord, many U.S. states, countries and global companies are maintaining/growing their initiatives with the goal of meeting global clean fuel standards and developing cleaner forms of energy.
o Companies such as Statoil, Total, BP and Shell have invested billions of USD in solar, wind and battery projects either currently in production or slated to come online in the near future.
o Combination of global greenhouse gas standards and corporate conscience.
o Significant revenue opportunities and tax incentives.
o Volvo commitment to have all cars with electric component by 2019.
o Tesla battery farm.
o Market growth/cost competitiveness.
10:54 am Panel discussion (Lafferty moderator) – approximately 2-4 minutes each
· How will Hurricane Harvey impact energy going into the fall and winter?
o Will there be long-term changes in response?
o Will the concentration of the energy sector in Texas and Louisiana be seen as a national security issue? Should it be?
· How have climate change and sustainability considerations affected your sector?
o Upstream, midstream, power, renewables?
· How will issues with Russia and Venezuela impact U.S. refiners and prices at the pump?
· Will tax credits for renewables come back?
o What are prospects for tax reform and how will energy companies be impacted?
o What is on your companies’ wish list?
· How are trade cases such as the biodiesel antidumping case against Argentina and Malaysia impacting energy?
o Will there be a trade war under Trump?
· What are updates with Mexico or Canada?
· California has been the bellwether state for various programs affecting renewables. What are the key programs under consideration or in effect in CA and how likely are they to spread to other states?
· What issues are keeping you up at night as in-house attorneys?
o What issues should be keeping up your outside counsel?
· Crystal ball
o What will Congress do to support energy in 2018 and after the next congressional election?
§ Are we due a comprehensive energy bill?
o What will Trump do to support energy in the next 3 years?
· Questions from the audience
11:25 am Final comments from the panel
1September 11, 2017