February 3, 2015
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Victory at Sea
Policy Integrity’s multi-year effort to improve the government’s natural resource valuation methods has begun to pay off, as the newly proposed offshore oil and gas leasing program incorporates some of our suggestions on “option value” for the first time. Since 2009, we have advocated that the government make use of this common financial concept, which places value on delaying irreversible decisions until more information is available. Likely effects of this change include higher minimum bids for offshore lease sales and delayed leasing of sensitive areas. However, the Department of the Interior’s draft plan still fails to quantify option value. Policy Integrity will continue to push for major improvements in the final plan, and press other federal agencies to incorporate option value into their decisionmaking.
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High Stakes in the High Court
The Supreme Court will soon decide the fate of policies on climate change, health insurance subsidies, and other critical issues that test the limits of federal government regulation. On January 28th, Policy Integrity hosted a forum to discuss the factors that will likely determine how the Court rules on these issues. Panelists included Sean Donahue and Peter Keisler, past adversaries in the Supreme Court who regularly represent opposing sides in federal environmental cases; and Caitlin Halligan, former Solicitor General of the State of New York, who has argued numerous cases involving a broad set of federal regulatory programs. The event, moderated by Richard Revesz, was part of NYU Law’s Milbank Tweed Forum series. It can be viewed here.
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In the News: Methane Regulations
The EPA recently announced that it will directly regulate methane emissions from the oil and gas sector. Our recent policy brief discussed the importance of these regulations, and after the announcement our policy director Jayni Hein authored an article in The Hill arguing that the regulations are a good start, but more is needed. “This a commonsense action that reduces a very potent greenhouse gas while directing valuable natural gas back into the supply chain,” Hein wrote. Hein also shared her insights on federal methane policy in multiple news stories about the announcement.
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On the Docket: Defending the Clean Power Plan
In the coming months, we plan to help defend the legality of President Obama’s signature climate initiative—the EPA’s Clean Power Plan—by authoring amicus briefs responding to major federal appellate challenges to the rule. In April, the D.C. Circuit will hear the first set of cases challenging the as-yet unfinalized rule. We recently filed our brief for one of these cases, West Virginia v. EPA, arguing that for 25 years under administrations of both parties, the EPA has consistently interpreted the Clean Air Act in ways that would support the agency’s ability to issue a flexible pollution regulation like the Clean Power Plan. Oral argument will take place on April 16.
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Staff Spotlight: Senior Attorney Denise Grab
Denise Grab recently became Senior Attorney at Policy Integrity. She originally joined the institute as a legal fellow in 2012, and has contributed to many of our briefs and public comments on climate and energy regulation and natural resource valuation. Previously, she worked as a litigation associate in the San Francisco office of Bingham McCutchen LLP, and clerked for the Honorable A. Howard Matz of the United States District Court for the Central District of California. “I am thrilled to take on this new role, where I can continue advancing Policy Integrity’s efforts to support strong, economically sound environmental policies through research and advocacy before both agencies and courts,” said Grab.