From ballot measures to statehouses, what do the results of the US midterm elections mean for oil, gas and power markets? Kate Winston and Maya Weber report On November 6, US voters shied away from key statewide environmental initiatives that would have imposed near-term costs on oil, gas and traditional utility interests. But they backed candidates, including nine new Democratic governors, with aggressive renewable energy and environmental goals. Advocates may now look to states fully under Democratic control – such as Nevada, New Mexico and Colorado – to take quick action on clean energy, since divided government at the federal level lowers prospects for this in Washington. The defeated Click here for more details about the results Several green ballot initiatives offered critical test cases, and their defeat could discourage other states from pursuing similar measures. Washington’s carbon fee and Colorado’s drilling setback were seen as bookending what is politically possible at the moment. Washington Initiative 1631 would have been the first carbon fee in the US. If passed, it would have set a carbon fee of $15/mt starting in 2020 and boosted costs for oil refineries, gas-fired power plants and other large users of fossil fuels. Colorado Proposition 112… continue reading
Continue reading Insight: US voters give boost to clean energy policies but stop short of carbon tax. This article appeared first on CTRM Center.
Source: CTRM Center