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Capital Report


October 2016 Issue

DOE Selects Eight R&D Projects on
Geothermal Energy, Carbon Storage

The U.S. Department of Energy (DOE) has selected eight new research and development projects to receive a total of $11.5 million in federal funding under DOE’s Subsurface Technology and Engineering Research, Development, and Demonstration Crosscut initiative. The new projects are focused on furthering geothermal energy and carbon storage technologies and will be funded by the Office of Energy Efficiency and Renewable Energy’s Geothermal Technologies Office (GTO) and the Office of Fossil Energy’s (FE) Carbon Storage program. The objectives are to deploy and validate prototype carbon storage monitoring, verification and accounting (MVA) technologies in an operational field environment and to identify and validate new subsurface signals to characterize and image the subsurface, advancing the state of knowledge in geothermal exploration. The projects include “Validation of MVA Tools for Offshore Carbon Capture and Sequestration: Novel Ultrahigh-Resolution 3D Marine Seismic Technology Integrated with Coring and Geochemistry”.

Ocean Champions Endorses Six
More Congressional Candidates

Ocean Champions, which works to build political power for the oceans by helping to elect pro-ocean candidates to the U.S. Congress, announced their continued endorsement of six more candidates from Arizona, Oregon and Washington: Raul Grijalva (D-Ariz.), Suzanne Bonamici (D-Ore.), Peter DeFazio (D-Ore.), Suzan DelBene (D-Wash.), Denny Heck (D-Wash.) and Derek Kilmer (D-Wash.).

Grijalva is the leading Democrat on the House Natural Resources Committee. Bonamici and DeFazio both have strong track records championing legislation that protects U.S. natural resources. DelBene, Heck and Kilmer see the direct link between a healthy ocean and a healthy economy, Ocean Champions said.

Obama Designates Maine
Katahdin Woods, Waters National Monument

Trout Unlimited (TU) is lauding U.S. President Barack Obama’s designation of the Katahdin Woods and Waters National Monument in Maine as a permanent protection for priceless native fish habitat. The monument area and the adjacent Baxter State Park combine to form a world-class trout resource conservation area. Lying within the Katahdin Woods and Waters National Monument are Heritage brook trout ponds and extensive wild rivers and streams that support untold wild brook trout numbers and contain vast amounts of rearing habitat for endangered Atlantic salmon.

Chris Wood, TU’s president and CEO, said the monument is a fitting way to celebrate the 100th anniversary of the National Park Service.

Hillary Clinton Responds to
Letter from Ocean Leaders

In reply to a letter sent by 115 ocean leaders to the leading U.S. presidential candidates, Hillary Clinton has released a two-page response on what she will do to protect the coast and ocean. This marks the first time in the presidential campaign when a candidate has fully addressed the daunting issues confronting the nation’s public seas.

Clinton’s letter lays out a range of solutions that she says she will act on if elected, including growing the “blue economy”, supporting coastal adaptation to climate change, ending international pirate fishing, expanding sustainable and transparent U.S. fishing and seafood practices and ratifying the UN Law of the Sea Convention.

The ocean leaders who signed the letter to which Clinton responded include CEOs of seafood companies and other businesses, directors of major science labs, aquariums and diver organizations, ocean explorers, authors, artists, ocean conservationists, members of Congress and former heads of the Environmental Protection Agency and NOAA.

US, India Strengthen Military
Ties to Counter China

The U.S. and India have signed a military logistics agreement governing the use of each other’s land, air and naval bases for repair and resupply, Reuters reported. This is a step toward building defense ties to counter China’s maritime assertiveness. The agreement paves the way for easier support between the Indian and U.S. navies in joint operations and exercises. The logistics agreement does not allow for basing of U.S. troops in India.

US, China Commit
To Paris Climate Agreement

U.S. President Barack Obama and China President Xi Jinping formally committed the world’s two largest economies to the Paris climate agreement, The New York Times reported. To bring the agreement into effect, countries accounting for 55 percent of the world’s emissions must present formal ratification documents. China and the U.S. generate near ly 40 percent of global emissions. China has promised carbon emissions will reach a plateau or decline around 2030, but has not presented a specific target for reductions like those Obama pledged for the U.S. (between 26 and 28 percent of 2005 levels by 2025). This leaves China with room to continue burning fossil fuels to power its economy.

BOEM to Provide Federal Sand For North Carolina Shore Management
The U.S. Bureau of Ocean Energy Management (BOEM) has signed an agreement with Dare County, North Carolina, to provide up to 4.825 million cubic yards of sand from federal waters as part of a shoreline management project for the towns of Duck, Kitty Hawk and Kill Devil Hills. The shore protection project, using sand from the seafloor of the federal Outer Continental Shelf (OCS), will renourish approximately 8 mi. of beach, which is more than half of the 15 mi. of oceanfront shoreline adjacent to the three towns. Dredging is expected to begin in the spring of 2017.

The project will help protect vulnerable public infrastructure, including N.C. Highway 12 and U.S. Highway 158, which are critical evacuation routes. Additionally, it will reduce flooding of roads and homes behind the shoreface, which will help first responders react during emergency situations. Finally, the project will protect public and private development, including the beaches that are vital to the local economy.


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