Dominion Energy strikes deal to turn cow manure into energy
Dominion Energy has entered into a $200 million pact with a renewable energy producer and the Dairy Farmers of American Inc. to extract natural gas from cow manure, the Wall Street Journal reports. The utility will fund construction of organic-waste processing facilities, connect the facilities to natural gas distribution pipelines, and sell the gas.
The WSJ reports that the gas extracted from cow manure, called biogas, is in high demand among consumers, businesses, and local governments that want to lower their emissions. Although producing biogas is more expensive than producing natural gas from shale, it can generate carbon offset credits for buyers, making biogas profitable for energy companies.
Goldman Sachs says it will not finance new oil projects in the Arctic
This week, Goldman Sachs announced it would not finance new oil drilling or exploration projects in the Arctic, the Sierra Club announced. It’s the first time a US bank has made such a commitment. The move comes after the bank revised their environmental policy. The commitment also includes a ban on financing for new thermal coalmines around the world.
The bank made the shift citing “potential impacts to critical natural habitats for endangered species” as well as the negative effects drilling can have on Indigenous communities. Previous to Goldman Sachs announcement, US banks have been some of the top financiers of fossil fuel projects.