Commuters, beware_ the nuclear security summit starts today _ bloomberg government

Today’s Agenda

The Nuclear Security Summit kicks off today, bringing with it plenty of downtown gridlock. A portion of New York Avenue will be closed, as well as the Mount Vernon Metro station — so expect congestion, detours, and bus delays.

President Obama welcomes more than 50 world leaders to discuss their nuclear security commitments, while hundreds of energy executives will be meeting on the sidelines for their own industry summit. Yesterday, the nuclear industry released a joint statement pledging to secure radiological materials and improve cybersecurity in all facilities. Bloomberg BNA’s Rebecca Kern has a deep dive on those security commitments and what they mean for the international delegations gathering in Washington today and Friday.

Meantime, U. K. Prime Minister David Cameron today will announce a joint U. K.-U. S. exercise testing the commercial nuclear sector’s ability to withstand cyber-attacks. It builds on a previous exercise focused on banking.

A petition asking Obama to halt all drilling and mining on public lands hit 100,000+ signatures — the threshold for getting an official response from the White House. It’s the latest milestone in the “Keep it in the Ground” campaign that’s disrupted a series of oil and gas auctions recently. While there’s no telling when or how the administration will respond, we’re guessing that any response will prompt related questions to Democratic presidential front-runner Hillary Clinton — giving her the opportunity to move even further to the left of Obama on energy. Editor’s Note

The First Word Energy Newsletter will not publish tomorrow, April 1. We’ll be back on Monday with your Energy Week Ahead and the latest installment of Laura Curtis’s Regs to Watch. Contact Us

Send us your comments and tips. Shoot us an e-mail: Mark Drajem is the editor ( mdrajem@bloomberg. net or @drajem), Catherine Traywick ( ctraywick@bloomberg. net or @ctraywick) and Laura Curtis ( lcurtis7@bloomberg. net or @LouKCurtis) cover Congress and regulation. Chart of the Day

A new EIA report finds that oil and gas well costs have gone down by as much as 30 percent since 2012. That’s partly due to technological improvements increasing drilling efficicency — but it’s also due partly to a decline in drilling activity. Outside the Beltway

Calif. Pension Fund Asked to Drop Exxon Mobil Holdings Two California congressmen are asking the state’s nearly $300 billion pension fund, the largest of its kind in the U. S., to follow in the footsteps of the Rockefeller family and divest from Exxon Mobil Corp. The California Public Employees’ Retirement System (CalPERS) has already been directed by a new state law to shed millions of dollars worth of investments in companies that produce coal for energy generation in light of the industry’s ailing finances and contribution to climate change.

BNSF Chairman Tells Energy Conference Oil Prices Costing Rail Jobs: Billings Gazette Matthew Rose, chairman of Burlington Northern Santa Fe, said during the Montana Energy conference that about 4,600 railroad employees are furloughed nationwide, about 10 percent of the workforce. These are roughly the same levels as in 2007 and 2008, he said. At the same conference, officials from pollution-control technology producer LP Amina presented a new take on clean-coal technology that they argued could extend the life of Montana’s Colstrip coal-fired plants, while reducing carbon emissions. The company got its start in China, and now has offices in the U. S. Oil, Gas and Coal

Market Wrap: Oil declined as rising U. S. crude stockpiles kept supplies at the highest level in more than eight decades. West Texas Intermediate for May delivery fell as much as 58 cents to $37.74 a barrel on the New York Mercantile Exchange and was at $37.82 at 8:20 a. m. London time. Natural gas futures for May delivery on the Nymex fell as much as 0.6% to $1.985/mmBtu, and were trading at $1.988 at 2:29am London time.

Major Companies Join Voluntary EPA Program to Cut Methane Duke Energy Corp., DTE Energy Co. and Vectren Corp., are among 41 companies that have joined a voluntary EPA program to slash their methane emissions.

Oklahoma, Alabama Back Exxon Mobil in NY-Led Climate Probe Oklahoma and Alabama accused a 17-member coalition of U. S. states and territories investigating whether Exxon Mobil Corp. and other energy companies misled investors and the public about how climate change might affect their businesses of trying to silence critics. “Reasonable minds can disagree about the science behind global warming, and disagree they do,” Oklahoma Attorney General Scott Pruitt and Alabama Attorney General Luther Strange said in a statement Wednesday.

Bowie ‘Sanguine’ About Closing Deal for Peabody Coal Mines Bowie Resource Partners’ chairman said that the company “remains sanguine” about closing its purchase of three coal mines from Peabody Energy Corp. and is working with lenders to arrange financing for the deal that’s crucial to helping Peabody stave off bankruptcy. Bowie had agreed to buy Peabody’s El Segundo and Lee Ranch mines in New Mexico and its Twentymile Mine in Colorado for $358 million in cash and the assumption of $105 million in related liabilities.

Infrared Camera Use Growing in Oil and Gas Sector The infrared cameras that the oil and gas industry use to make invisible hydrocarbon emissions visible are on the brink of becoming more widespread as regulators promote their use under proposed rules and settlements. They can’t detect how much or what kind of emissions—such as the potent greenhouse gas methane or ozone-forming volatile organic compounds—are pouring from oil storage tanks, pipelines or industrial facilities, but they can draw attention to potential violations and hazards by making a plume obvious. Electricity and Renewables

TerraForm Power President and CEO Brian Wuebbels Steps Down The board has formed an office of the chairman to lead TerraForm Power on an interim basis. The office of the chairman will be led by Peter Blackmore, an independent director and chairman of the clean energy company.

The $2.6 Billion Buying Binge That Felled Solar Giant SunEdison Just nine months ago, SunEdison was Wall Street’s favorite clean-energy company. It sopped up every dollar it could come by to finance a breathtaking buying binge of wind and solar farms, and in the process became the world’s largest renewable-energy company. Today, SunEdison is teetering on the verge of bankruptcy protection, its stock below $1. The company’s fall is largely its own doing, the almost inevitable result of an ascent that was built on financial engineering and cheap debt.

FERC to Probe Possible Discriminatory Fees for Midwest Grid The fee for power suppliers to connect to the Midwest grid “may be unduly discriminatory because it does not treat all interconnection customers comparably,” FERC said in an order issued Tuesday.

Massachusetts Power Generator Admits to Market Misconduct: FERC Berkshire Power Co. and contractor Power Plant Management Services admitted to violating anti-manipulation and New England grid rules, FERC said in an order and consent agreement Wednesday.