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According to the official measurement of the China Earthquake Networks Center, a magnitude 3.4 earthquake occurred at 11:56 on February 20 in Alxa Left Banner, Alxa League, Inner Mongolia (39.50 degrees north latitude, 106.61 degrees east longitude), with a focal depth of 15 kilometers.According to the Wall Street Journal, European Central Bank President Christine Lagarde stated that her base case expectation is to complete her term at the ECB. The World Economic Forum is "one of many options" after the ECB.February 20th - According to the Hengqin Border Inspection Station of the Zhuhai Border Inspection General Station, during the first five days of the Spring Festival holiday from February 15th to 19th, over 477,000 people and over 49,000 vehicles passed through the Hengqin Port, representing year-on-year increases of 30.3% and 47.7% respectively. The ports operations are showing a robust and active flow of both people and vehicles, demonstrating the strong vitality of the integrated development of Hengqin and Macao.On February 20th, the German magazine *Der Spiegel*, citing sources, reported that former Ukrainian Army Commander-in-Chief and Ukrainian Ambassador to the UK, Valery Zaluzhny, approved the destruction of the Nord Stream 1 and Nord Stream 2 gas pipelines. The report stated, "This action was ultimately decided by then-Commander-in-Chief Zaluzhny." According to reports, this Ukrainian official made the decision without the permission of Ukrainian President Zelenskyy. In other words, the Zelenskyy government was unaware of the sabotage operation at the time. It is understood that the CIA was aware of the Nord Stream pipeline bombing plan beforehand. Reports indicate that in 2022, CIA personnel and Ukrainian officials met in Kyiv, where Ukrainian experts explained the idea of destroying the gas pipelines to the Americans.On February 20th, Goldman Sachs predicted that gold prices will gradually climb, reaching $5,400 per ounce by the end of 2026, with diversification providing upside potential. At the same time, Goldman Sachs expects central bank gold purchases to accelerate again in 2026, at the pace seen in 2025. Their core view is that central bank demand, coupled with increased holdings by private investors (primarily in response to Fed rate cuts), will support a steady rise in gold prices. Goldman Sachs points out that if private sector diversification efforts (especially call option structures) increase, the market will face significant upside risks. Furthermore, while the medium-term trend remains upward, significant volatility is possible.

U.S. Tries to Prevent Methane Flaring And Leakage on Public Lands

Skylar Williams

Nov 29, 2022 11:53

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The administration of President Joe Biden issued recommendations on Monday to decrease methane leaks from oil and gas production on public lands, the most recent attempt by the federal government to cut emissions of the potent greenhouse gas.


The strategy accompanies the new regulations proposed by the United States government for the industry on private property. It would set monthly restrictions on flaring and require oil and gas firms to develop methane leak detection techniques for operations on federal lands, where around 10 percent of U.S. oil and natural gas production takes place, primarily in Western states.


According to the U.S. Bureau of Land Management, the limits will minimize gas waste and raise tax revenue.


In a statement, BLM Director Tracy Stone-Manning said, "This proposed rule is a straightforward, environmentally responsible approach to addressing the harm caused by wasted natural gas."


The major component of natural gas, methane, has a tendency to escape from drilling sites and pipelines. Over a 20-year period, it is roughly 80 times more efficient than carbon dioxide at trapping heat.


The Interior Department reported that production-related venting and flaring on public lands has increased considerably over the past few decades.


Flaring, or the purposeful burning of gas produced as an oil byproduct, generates carbon dioxide, whereas venting emits unburned methane. When oil drillers lack the pipes necessary to bring gas to market, or when gas prices are too low to justify transporting it, the gas is frequently flared or vented.


Under the proposed law, each application for a drilling permit would be required to provide a plan detailing how it will prevent methane waste. If the BLM judges the plan inadequate, it may refuse the permit application.


The Environmental Protection Agency, which has been formulating its own guidelines, should be in charge of federal methane management, according to a group representing the oil and gas industry.


According to Mallori Miller, vice president of government relations for the Independent Petroleum Association of America, there are several reasons to vent and flare gas, including safety concerns and connection challenges, and the issue is not as basic as this law portrays. When possible, it is always in a producer's best advantage to capture and sell a product on the market.


The new limits are the consequence of years of litigation over methane regulations enacted by the Obama administration. BLM said that its regulation focussed on waste prevention, a domain in which it has clear legal authority.


The adoption of the restrictions would cost oil and gas companies around $122 million per year, but they will recoup $55 million per year in gas. The BLM predicts that royalties on this gas will increase by $39 million per year.


The deputy director of the Center for Western Priorities, Aaron Weiss, remarked in an email, "There is no excuse for oil and gas companies to waste a publicly owned resource, much less a strong greenhouse gas like methane."

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