Energy Roundup: EPA Deems CO2 Hazardous, Pope Pursues Solar, and More

EPA proposal on greenhouse gases could trigger regulation – The Environmental Protection Agency issued its proposal on greenhouse gases today, and as expected the agency has determined that CO2 — and five other gases including methane and hydrofluorocarbons – is bad for humans and contributes to global warming. The proposal may push lawmakers to begin drafting legislation or it could signal the agency’s intention of tackling the issue through government mandates. [Source: EPA, The Grist]

Pope to harness sun’s power in Europe’s biggest solar plant — Vatican City, the world’s smallest state, plans to build the biggest solar plant in Europe for 500 million euros or $660 million. Pope Benedict XVI’s solar endeavor lies in stark contrast to Italian Prime Minister Silvio Berlusconi’s resistance in curbing emissions within Italy.  [Source: Bloomberg]

Petrobras shopping for new rigs at expansion plans continue – Brazil’s Petroleo Brasileiro, or Petrobras, is on the hunt for new rigs with bidding expected to begin in a couple of months, as part of its lofty $174.4 billion five-year investment plan. Brazil’s state-controlled energy giant needs 28 more rigs over the next five years to meet its goals. [Source: Rigzone]

Chesapeake cutting natural production as prices continue slide – Falling natural gas prices have forced Chesapeake Energy to curb its production by another 200 million cubic feet. Chesapeake has cut 13 percent of its gross natural gas production capacity since March and joins a growing list of producers to cut back because of softening prices including Devon Energy. [Source: Dallas Morning News]

Biofuels report calls for improved infrastructure, aggressive policies – Biofuels infrastructure must be improved and the U.S. government needs develop more aggressive policies and encourage the production and purchase of more flex fuel vehicles for the country to meet its mandates for ethanol and other renewable fuels, according to a new report from the National Commission on Energy Policy. The task force also concluded that higher blends of ethanol would be necessary. [Source: National Commission on Energy Policy, Green Inc.]