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Inflation Reduction Act
Proposed Regulations on Immediate Expensing Provide Greater Clarity for the Energy Industry
On August 3, 2018, the IRS and Treasury Department released proposed regulations (the Proposed Regulations) that interpret and clarify the new bonus depreciation regime under the Tax Cuts and Jobs Act (TCJA). As discussed here in greater detail, the TCJA...
As LNG Permitting Delays Continue, PHMSA to Assist FERC
The liquified natural gas (LNG) export boom has strained the resources and technical expertise of the two federal agencies that oversee LNG facility siting, design, construction, and operation: FERC, (the Federal Energy Regulatory Commission) and PHMSA (the Pipeline and Hazardous...
Navigating the Feds: The Risks and Rewards of Federal Contracting & Subcontracting in Cybersecurity
In August 2018, Angela Styles, Bob Wagman and Phil Bezanson gave a presentation at the Cyber Texas conference in San Antonio that analyzed the risks and rewards of federal contracting and subcontracting in Cybersecurity.
This Time is Different: What You Need to Know Now About the New Rule 15c2-12 Events
On August 20, the Securities and Exchange Commission added two events to the existing fourteen events under Rule 15c2-12, 1 which requires certain notice filings with the Municipal Securities Rulemaking Board’s EMMA system within ten business days of occurrence. The...
Steel and Aluminum Tariffs: Time to Dust Off the Price Adjustment Clause?
The continued and controversial imposition of tariffs has not only resulted in global economic and political fallout but has also adversely affected contractual relationships for suppliers, manufacturers, contractors and project owners far downstream from the government. Whether you are the...
What It Takes to Violate Campaign Finance Law
A lot has happened this week in Washington and New York regarding the ins and outs of campaign finance law and international lobbying disclosure. Lucky for you, our co-hosts have a depth of experience with these processes and are here...
Mexico Upstream Update
Assessing the Effects of the Election Result for Mexico’s Upstream Industry: Change in Government Raises Potential for Shift in the Direction of Oil and Gas Sector Participants in Mexico’s oil and gas industry are continuing to assess the implications for...
SEC Adopts Amendments to Rule 15c2-12
On August 20, 2018, the U.S. Securities and Exchange Commission (“SEC”) announced it adopted amendments to Rule 15c2-12 of the Securities Exchange Act (“Rule 15c2-12”). Rule 15c2-12 requires brokers, dealers, and municipal securities dealers that are acting as underwriters in...
FY 2019 Sequestration Reduction Rate for Direct Pay Tax Credit Bonds Set at 6.2 Percent
According to the IRS website , the sequester reduction rate applied to payments made to issuers of direct pay tax credit bonds in fiscal year 2019 will be 6.2 percent . This percentage will apply to all subsidy payments scheduled...
CEQ, FERC and the Courts: New Approaches to NEPA?
NEPA is again making major headlines, with more to come. CEQ’s advanced notice of rulemaking has opened the door to potentially significant changes to the venerable NEPA regulations. FERC’s notice seeking comments on revising its Certificate Policy Statement for interstate...
Does the Prevention doctrine thwart contractually allocated Concurrent Delay risk? The English Court of Appeal says not
Energy sector participants will be familiar with the law of physics that states energy is neither created nor destroyed but can be converted from one form into another. Fossil fuels in the ground contain chemical energy and air currents in...
Too Close to Call: Monitoring the Midterms
This week, our hosts dive deep into this week's August election results and what they tell us about the political climate for November's Midterms. Download and listen on: Stitcher iTunes Soundcloud Google Play
IMPLIED TERMS: Fairness in hindsight is insufficient
The Court of Appeal’s judgment in Bou-Simon v BGC Brokers LLP [2018] EWCA Civ 1525 reaffirms the law on implied terms. The Court also offered some interesting non-binding views on the circumstances in which words deleted from a draft contract...
Proposed Revision to Class Location Requirements When Population Increases
The Pipeline and Hazardous Materials Safety Administration (PHMSA) has published an Advanced Notice of Proposed Rulemaking (ANPRM) requesting comments on existing requirements for gas transmission pipelines following population growth. This notice is the result of previous Agency requests for comment...
Big Changes on the Horizon for the Committee on Foreign Investment in the United States (CFIUS)
Last week, the Senate followed the House of Representatives in passing the John McCain National Defense Authorization Act for Fiscal Year 2019 (the “NDAA”), which President Trump is expected to sign into law very soon. The NDAA was amended late...