DOE spends $30 million on residential energy efficiency research, BP sells $7 Billion in assets to the Apache Corporation, & an update on the Ethanol debate.
In an effort to speed up the research being done on residential energy efficiency strategies, the Department of Energy yesterday awarded a total of $30 million dollars in grant money to 15 research and deployment partnerships . The different groups will focus on overcoming the barriers of making high-efficiency homes within reach for all Americans. The 15 research groups will each receive between $500,000 and $2.5 million depending on their performance. Those receiving the awards include the Building America Retrofit Alliance, the Building Science Corporation and the National Association of Home Builders Research Center Industry Partnership for High Performing Homes.
To help them pay for the rising cost of the oil spill, BP has announced that they will be selling all of their oil and gas operations, acreage and infrastructure in the Permian Basin of West Texas and New Mexico and Egypt’s Western Desert to the Apache Corporation. Apache, who is paying $7 Billion for purchase will also be acquiring BP’s upstream natural gas business in western Alberta and British Columbia. This purchase will add 2.4 million net areas to Apache’s developing portfolio.
As the US debates the role of ethanol based fuels. a new study by Bruce Babcock, director of the Center for Agricultural and Rural Development shows that that allowing the blender credit and tariff for ethanol fuels to expire will not be as bad as people think. Babock’s projected calculations show that U.S. ethanol production would increase to some 14.5 billion gallons by 2014 without the tax credit and import tariff; Babock also argues that the US could protect itself from constant price volatility if it opened the U.S. market. You can learn more about Babcock’s findings at card.iastate.edu.
Tags: Apache Corporation, BP spill, Bruce Babcock, Building America Retrofit Alliance, Building Science Corporation, Center for Agricultural and Rural Development, daily energy news, daily energy report, department of energy, energy efficiency research, energy news, energy report, ethanol based fuels, National Association of Home Builders Research Center Industry Partnership for High Performing Homes