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EPA Issues Class VI Well Permits to ExxonMobil for Carbon Capture and Storage Project in Texas

LCG, October 21, 2025--The U.S. Environmental Protection Agency (EPA) today issued three final Underground Injection Control (UIC) Class VI permits to ExxonMobil for their Rose Carbon Capture and Storage (CCS) Project located in Jefferson County, Texas. Under the Safe Drinking Water Act, these permits allow ExxonMobil to convert three existing test wells permitted by the state to carbon dioxide (CO2) storage injection wells for long-term storage.

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Holtec Receives New Nuclear Fuel at Palisades for Planned Restart

LCG, October 20, 2025--Holtec International announced today that the Palisades Nuclear Power Plant site in Michigan has received new nuclear fuel – 68 assemblies in total – that achieves a major milestone on the path to restarting the plant. The 800-MW facility was shutdown and decommissioned in 2022 due primarily for economic reasons; however, Holtec is progressing towards restarting the original unit by the end of this year, pending all necessary federal regulatory reviews and approvals. Achieving a successful restart of a shutdown nuclear unit will be a historic first for the nuclear industry.

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Industry News

Investment Banks Entering into More Energy Trading

LCG, June 3, 2004--Electricity, oil and natural gas are appearing on the balance sheets of an increasing number of New York-based investment banks, as they try to help clients overcome weakened credit ratings as well as profit from volatility in the prices of those commodities.

According to the Wall Street Journal, Citigroup Inc. has added oil specialists to its ranks, while Goldman Sachs Group Inc. and Morgan Stanley have signed contracts that they are backing up with acquisitions of fuels and electricity. They are trading on the commodities, and making markets for industries with large fuel consumption, such as airlines, as well as for speculative traders such as hedge funds.

TXU Corp. has entered into a joint venture with Credit Suisse First Boston, which has a stronger credit rating, to trade natural gas and electric power. Such partnerships may increase in number as investment banks seek to enter businesses different from their traditional roles, and energy companies recover from their aggressive capital outlays to build power plants a few years ago.
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