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U.S. energy regulator's future shaky as Senator Manchin refuses hearing

By Timothy Gardner WASHINGTON (Reuters) -U.S. Senator Joe Manchin, a conservative Democrat from coal-rich West Virginia, indicated he would not hold a confirmation hearing to...
U.S. energy regulator's future shaky as Senator Manchin refuses hearing © Reuters.
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By Timothy Gardner

WASHINGTON (Reuters) -U.S. Senator Joe Manchin, a conservative Democrat from coal-rich West Virginia, indicated he would not hold a confirmation hearing to consider President Joe Biden's re-nomination of top energy regulator Rich Glick, potentially dooming Glick's chances.

Glick, chairman of the Federal Energy Regulatory Commission (FERC), needs to be approved by the full Senate for another term.

Manchin took umbrage with comments by Biden days before the midterm elections about shutting coal-fired power plants. "We're going to be shutting these plants down all across America," Biden said on Nov. 4.

"The Chairman was not comfortable holding a hearing," Sam Runyon, a spokesperson for Manchin said in a release. Runyon did not respond to a question about whether Manchin, the chairman of the Senate Energy Committee, was refusing to hold a hearing because of Biden's coal comments.

A White House official said: "We understand that the Committee needs more time, and we hope to move forward as we continue to work collaboratively with both the Committee and Chairman Manchin."

Manchin's stance on not having a hearing for Glick was reported by Bloomberg Law.

Manchin, the founder and partial owner of a private coal brokerage, Enersystems, has been reluctant to rein in fossil fuels. His support for Biden's Inflation Reduction Act legislation came only after the legislation's climate measures were trimmed.

He blasted FERC earlier this year over proposed scrutiny of greenhouse gas emissions from natural gas pipelines and liquefied natural gas terminals. The agency has since walked back the proposal.

While the hearing could still be rescheduled, time is running short before the end of the current Congress. Glick's term ends when the current Congress adjourns on Jan. 2 or before, and he cannot hold the chairmanship or a seat on the five-member panel after that unless reconfirmed by the full Senate.

The razor-thin Democratic control of the Senate is in question after the Nov. 8 elections and it would be unlikely for a Republican-controlled Congress to approve Glick. Even if the Senate remained at 50-50, with Vice President Kamala Harris having the tie-breaking vote, a "no" vote from Manchin could doom Glick's chairmanship. A FERC with only two Republicans and two Democrats could deadlock the panel's energy policy decisions.

FERC did not immediately respond to a request for comment.

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01-05-2024 10:45:17 (UTC+7)

EUR/USD

1.0658

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EUR/USD

1.0658

-0.0008 (-0.07%)

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GBP/USD

1.2475

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USD/JPY

157.91

+0.12 (+0.07%)

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Moving Avg:

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AUD/USD

0.6469

-0.0003 (-0.05%)

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USD/CAD

1.3780

+0.0003 (+0.03%)

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EUR/JPY

168.32

+0.10 (+0.06%)

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EUR/CHF

0.9808

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Gold Futures

2,295.80

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Silver Futures

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Copper Futures

4.5305

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Crude Oil WTI Futures

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DAX

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Hang Seng

17,763.03

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US Small Cap 2000

1,973.05

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IBEX 35

10,854.40

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49.155

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Bayer AG NA

27.35

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266.60

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Adidas AG

226.40

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Deutsche Lufthansa AG

6.714

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Moving Avg:

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Siemens AG Class N

175.90

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Deutsche Bank AG

15.010

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Summary

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Moving Avg:

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Indicators:

Buy (6)

Sell (2)

    EUR/USD 1.0658 ↑ Sell  
    GBP/USD 1.2475 ↑ Sell  
    USD/JPY 157.91 ↑ Buy  
    AUD/USD 0.6469 Neutral  
    USD/CAD 1.3780 ↑ Buy  
    EUR/JPY 168.32 ↑ Buy  
    EUR/CHF 0.9808 Neutral  
    Gold 2,295.80 ↑ Sell  
    Silver 26.677 ↑ Sell  
    Copper 4.5305 ↑ Buy  
    Crude Oil WTI 81.14 ↑ Sell  
    Brent Oil 85.62 ↑ Sell  
    Natural Gas 1.946 ↑ Sell  
    US Coffee C 213.73 ↑ Sell  
    Euro Stoxx 50 4,920.55 ↑ Sell  
    S&P 500 5,035.69 ↑ Sell  
    DAX 17,921.95 ↑ Sell  
    FTSE 100 8,144.13 Sell  
    Hang Seng 17,763.03 ↑ Sell  
    Small Cap 2000 1,973.05 ↑ Sell  
    IBEX 35 10,854.40 Neutral  
    BASF 49.155 ↑ Sell  
    Bayer 27.35 ↑ Sell  
    Allianz 266.60 ↑ Sell  
    Adidas 226.40 ↑ Sell  
    Lufthansa 6.714 Neutral  
    Siemens AG 175.90 ↑ Sell  
    Deutsche Bank AG 15.010 Neutral  
Mua/Bán 1 chỉ SJC
# So hôm qua # Chênh TG
SJC Eximbank8,300/ 8,500
(8,300/ 8,500) # 1,298
SJC 1L, 10L, 1KG8,300/ 8,520
(0/ 0) # 1,510
SJC 1c, 2c, 5c7,380/ 7,550
(0/ 0) # 540
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(0/ 0) # 550
SJC 99,99%7,370/ 7,470
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(0/ 0) # 386
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