Reed Smith LLP recently issued the following announcement.
Present circumstances including COVID-19 and the lack of private capital do not permit the Fossil Fuel Industry to take advantage of the very favorable regulatory environment and DOE support.
Speakers: Dwight A. Howes Robert P. Simons
Event Type: Webinar, CLE / CPD
16 April 2020, 3:00 PM EDT
End Date/Time:
16 April 2020, 4:00 PM EDT
Registration Link:
Future of Fossil Fuels, Part II: Contingency Planning in the Distressed Energy Market
In part I of our program Assistant Secretary of the Department of Energy, Steven Winberg provided a positive outlook for the Fossil Fuel Industry due to the support of the DOE though various initiatives and programs. However, even prior to COVID-19 ‘s impact many coal, oil and gas operations were in financial distress. Unfortunately, present circumstances including COVID-19 and the lack of private capital do not permit the Industry to take advantage of the very favorable regulatory environment and DOE support. Therefore, many in the Industry must either find ways to weather the storm, restructure or face liquidation.
To this end, Part II will discuss:
Review of Part I: A Positive Outlook For the Future of Fossil Fuels
Continued Impact of COVID 19 and the Cares Act: using the "slow the spread period" for contingency planning and business restructuring.
Will the oil industry return to “normal” after COVID-19?
Impact of liquidations on tax payers and the environment.
Agreement defaults and defenses such as force majeure.
Pre and post-bankruptcy considerations.
Need for Energy Policy to include potential use of executive emergency powers to protect energy independence and the future of fossil fuels.
Original source can be found here.