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Navigating Texas Regulations During Hurricane Harvey: TCEQ Executive Director's Regulatory Guidance and Governor Abbott's Disaster Proclamation Provide Potential Relief
A series of decisions between the Governor's office and the Executive Director of the Texas Commission on Environmental Quality ("TCEQ") has resulted in the suspension of a number of state environmental rules relating to a broad range of areas impacted...
The Lobby Shop: See You in September
Josh Zive chats with Scott Segal in this week's Friday Five episode of The Lobby Shop about Congress's September to-do list, Charlottesville and classifying domestic terrorism as a federal crime, Secretary Pruitt's EPA, what's on the minds of energy companies...
New Commission Approves City Power Manipulation Settlement
Yesterday, the Federal Energy Regulatory Commission (FERC) issued an order approving a settlement agreement between FERC’s Office of Enforcement and City Power Marketing, LLC, and its owner, K. Stephen Tsingas (together, City Power). The order resolves the Commission’s claims that...
Federal Reserve Proposes to Clarify and Reduce Supervisory Expectations on Boards of Directors
On August 9, 2017, the Board of Governors of the Federal Reserve (the "Federal Reserve") published proposed guidance on certain supervisory expectations for Boards of Directors of banks and holding companies. The proposal consists of three parts, and arose out...
Executive Order Aims to Improve Environmental Review of Infrastructure Projects
On August 15, 2017, President Trump signed an executive order (EO) entitled “Establishing Discipline and Accountability in the Environmental Review and Permitting Process for Infrastructure Projects.” As part of the Administration’s goal to improve domestic infrastructure, the purpose of the...
5th Circuit U.S. Court of Appeals Reverses PHMSA
The 5th Circuit issued a lengthy opinion on August 14, 2017, reversing most of the violations of a PHMSA enforcement action that began in November 2013 in conjunction with investigation of a failure on the Pegasus Pipeline. In that matter...
USFWS Postpones Endangered Species Listing Determination for Texas Hornshell Mussel
On August 10, 2017, the United States Fish and Wildlife Service (USFWS or Service) issued a Federal Register notice indicating its intent to delay by six months its determination whether to list the Texas hornshell mussel as an endangered species...
The Lobby Shop: And Now Their Watch Has Ended: Reflections from PRG's Summer Interns
Josh Zive interviews PRG's summer interns on their penultimate day in DC about their experiences, the unique opportunities this city offers, and words of wisdom for anyone considering a DC-area internship. (Also, for the second week in a row, we...
U.S. Futures Exchanges Disciplinary Actions Report - July 2017
NYMEX NYMEX 15-0305-BC Position Limits Violation of Rule 562 – Position Limit Violations On August 9, 2016, a Probable Cause Committee (“PCC”) panel charged a non-member entity with violating NYMEX Rule 562, based on allegations that on November 23, 2015...
GAO Report Critical of PHMSA Inspection Priorities
The Government Accountability Office (GAO) issued a report on August 4, 2017, titled “ Pipeline Safety – Additional Actions Could Improve Federal Use of Data on Pipeline Materials and Corrosion .” The 55 page Report, prepared in response to a...
Financial Transmission Rights Guidelines – Mexico
On July 28, 2017, the Mexican Ministry of Energy (Secretaria de Energia or SENER) published the final guidelines for the Financial Transmission Rights (“FTR”) Auctions (the “Guidelines”), which will govern the auction process for Mexico’s newly created FTR market. The...
FY 2018 Sequestration Reduction Percentage for Direct Pay Tax Credit Bonds Set at 6.6 Percent
According to an update released by The IRS Office of Tax Exempt Bonds, the sequester reduction percentage applied to the payments made to issuers of direct pay bonds in fiscal year 2018 will be 6.6 percent . This percentage will...
FERC Staff Issues New Guidelines on Cultural Resources
On July 31, 2017, the Federal Energy Regulatory Commission (“FERC”) staff issued new Guidelines for Reporting on Cultural Resources Investigations for Natural Gas Projects. The new guidelines include changes of potential interest and significance to developers (“project sponsors”). In addition...
The Lobby Shop: Friday Five with Khalessi
Josh Zive talks with Dee Martin about the top five topics of the last week: what happens during Congress's August break, newly confirmed FBI Director Chris Wray, updated leadership within the White House, sanction legislation for Russia and Venezuela, and...
Can Foreign Partners Now Exit Partnerships Tax Free?
In Grecian Magnesite Mining v. Commissioner 1 (“ Grecian Magnesite ”) the Tax Court held that a non-U.S. partner's gain from the redemption of its partnership interest was neither U.S. source income nor income effectively connected with a U.S. trade...