Chevron Corp. has announced the sale of its stakes in several oil sands and shale assets to Canadian Natural Resources Ltd., marking a $6.5 billion all-cash transaction. This deal includes Chevron’s 20% interest in the Athabasca Oil Sands Project and a 70% holding in the Duvernay shale, both situated in Alberta, Canada. The deal, effective…
As artificial intelligence (AI) continues to transform various industries, a comparison gains traction: considering AI as a resource akin to oil or minerals. This comparison illuminates the idea that AI capitalizes on human knowledge, similar to how industries exploit natural resources. This analogy underscores the concept of implementing a tax policy to secure the benefits…
The city of Joliet, Illinois, is set to transition its drinking water source to Lake Michigan by 2030. This initiative comes as the aquifer currently supplying water to the city is expected to run dry by the end of the decade, a consequence of climate change and declining groundwater levels. By sourcing water from Lake…
Latham & Watkins is expanding its capabilities in the energy sector by appointing Scott Cockerham, who previously served as the US co-head of A&O Shearman’s energy, infrastructure, and natural resources practice. Bloomberg Law reports that Cockerham, after a brief 13-month tenure at A&O Shearman, will join Latham as a partner within its transactional tax practice…
Hogan Lovells’ departure from Australia comes less than a decade after entering the market with ambitions to capitalize on the country’s thriving sectors, including energy, natural resources, financial institutions, and infrastructure. This exit highlights the challenges faced by global firms in securing sufficient big deals in the Australian market. The firm is also closing its…
Dechert LLP is gearing up for a costs battle with the UK’s Serious Fraud Office (SFO) after the regulator’s appeal in the Eurasian Natural Resources Corporation (ENRC) case failed. According to a report from Law.com, a person familiar with the case stated that the SFO will likely seek a significant contribution from Dechert for any…
New Zealand’s government officially announced on Monday its intention to reverse the ban on offshore oil and gas exploration by enacting new legislation within the year. This pivot aims to bolster investor confidence and provide a more robust framework for the nation’s oil and gas sector. The proposed legislative changes mainly focus on amending the…
Kyle Bass, the hedge fund manager known for his prescient financial bets, is increasingly channeling his investment focus towards real estate properties that are intimately linked with scarce natural resources. According to a recent report by Bloomberg Law, Bass is dedicating considerable time and capital to acquiring properties whose value is enhanced by their associated…
The recent Supreme Court decision in Loper Bright v. Raimondo is poised to significantly impact the Federal Emergency Management Agency’s (FEMA) funding decisions, marking the end of the deference era established under Chevron U.S.A., Inc. v. Natural Resources Defense Council, Inc.. This shift allows for greater judicial review of FEMA’s regulatory interpretations and decision-making processes….
Womble Bond Dickinson has announced the addition of Benjamin Busboom as an environmental partner in their Denver office. Busboom will be part of the corporate and securities practice group. His expertise spans a range of areas crucial to the energy transition, including environmental, energy, and natural resources matters. Specifically, he has a well-established track record…
France Protest Over Irrigation Reservoirs Turns Violent in La Rochelle The French region of La Rochelle witnessed clashes between protesters and police on Saturday, amidst demonstrations against new irrigation reservoirs being built. The protests, attended by around 2,000 people, turned turbulent when police intervened, responding with tear gas as some protesters threw objects. Both police…
The International Court of Justice (ICJ) ruled on Wednesday that Israel’s settlement and occupation activity in the West Bank breach international law. This decision followed a request from the UN General Assembly for an advisory opinion on Israel’s practices in the occupied territories. The ICJ concluded that Israel’s policies violated several international agreements, including the…
Alexandre-Philippe Avard, a former Dentons Canada lawyer, is rejoining the firm as a partner in the litigation and dispute resolution group in Montreal after spending five years in-house at Hydro-Québec. Avard is a skilled litigator with expertise in energy, natural resources, mining, and Indigenous law. He originally joined Dentons in 2012 as an associate and…
In a recent ceremony held in Saskatchewan, Canada Crown-Indigenous Relations Minister Gary Anandasangaree formally apologized to the Dakota and Lakota First Nations for the federal government’s previous denial of their constitutional recognition and protection. This apology represents Canada’s formal acknowledgment of these First Nations as “Aboriginal peoples of Canada” under Section 35 of the Constitution…
House Democrats on the House Natural Resources Committee recently addressed a letter to the U.S. Department of the Interior, demanding further information regarding allegations that eight oil companies have engaged in collusion with the Organization of Petroleum Exporting Companies (OPEC) to artificially inflate gas prices. This move underscores the ongoing scrutiny and regulatory challenges faced…
China’s government released a report on Monday that claims a grounded Philippines warship at Second Thomas Shoal caused extensive damage to the shoal’s coral reef ecosystem. China claims a significant portion of the exclusive economic zone of the Philippines, including the Second Thomas Shoal. The report, authored by China’s Ministry of Natural Resources, claims that…
On June 28, the modern administrative state came to an end as the U.S. Supreme Court overruled its 1984 decision in Chevron U.S.A. Inc. v. Natural Resources Defense Council Inc.. This landmark decision had established the principle of judicial deference to administrative agencies’ interpretations of ambiguous statutes – a framework that significantly shaped regulatory practices…
Employer Attacks on NLRB Rulings Employers are increasingly examining the potential impacts of the US Supreme Court’s recent decision on judicial review of agency actions, particularly as they consider augmenting their challenges to National Labor Relations Board (NLRB) rulings. Historically, the Court displayed deference to the NLRB’s interpretation of federal labor laws, establishing its stance…
The U.S. Supreme Court’s recent decision to overturn the Chevron doctrine has significant implications for the authority of regulatory agencies like the Food and Drug Administration (FDA). In its June 28 opinion in Loper Bright Enters. v. Raimondo, the Court ended the decades-old principle established by Chevron v. Natural Resources Defense Council, which had allowed…
Federal agencies tasked with enforcing labor and employment laws are gearing up for significant changes in their regulatory and litigation strategies due to the recent dismantling of the Chevron doctrine by the U.S. Supreme Court. The landmark decision in the case of Chevron v. Natural Resources Defense Council previously required courts to defer to agencies’…
The US Supreme Court has ruled that courts must exercise independent judgment in assessing an agency’s statutory authority, effectively overturning the precedent set by Chevron U.S.A. v. Natural Resources Defense Council. This landmark ruling came from the case Loper Bright Enterprises v. Raimondo, which revolved around the National Marine Fisheries Service’s (NMFS) requirement for petitioners…
The U.S. Supreme Court issued several significant rulings that promise to reshape key aspects of administrative law and civil liberties. On June 28, 2024, Chief Justice John Roberts delivered a critical opinion in Loper Bright Enterprises v. Raimondo and Relentless v. Department of Commerce. The court decided to overturn the long-standing Chevron v. Natural Resources…
The US Supreme Court recently overturned a 40-year-old legal doctrine, significantly impacting the rule-making power of executive branch agencies. The ruling centered around the “Chevron doctrine,” or Chevron deference, which originated from a 1984 Supreme Court decision. This doctrine had been a key tool for Democratic administrations in enacting regulations across various sectors, including environmental,…
The US Supreme Court’s recent decision to overturn the landmark Chevron doctrine marks a significant shift in the landscape of agency rulemaking and legal challenges. The 6-3 ruling dismantles the precedent established in the 1984 case Chevron v. Natural Resources Defense Council, which had granted agencies the leeway to interpret ambiguous statutes, provided their interpretations…
In a notable judicial development, the Supreme Court has overturned its previously established Chevron deference, a doctrine originating from the 1984 decision in Chevron v. Natural Resources Defense Council. This doctrine mandated courts to defer to federal agencies’ interpretation of ambiguous laws, provided those interpretations were reasonable. The latest ruling, which was decided by a…