Overnight Energy & Environment: Atlantic drilling back on the auction block

OBAMA FLOATS OFFSHORE DRILLING PLAN: Parts of the Atlantic could be open to drilling for the first time in nearly 40 years under a new five-year lease plan released by the administration on Tuesday. President Obama moved to open up areas off the coast of Virginia, Georgia, North and South Carolina, and three portions off the coast of Alaska in Arctic waters. Simultaneously, the administration designated 9.8 million acres of the Arctic off limits to development, maintaining a balancing act between industry and environmentalists. On one hand Obama has greens pleased with new protections for a wilderness refuge in Alaska, on the other he has possibly satisfied industry just enough. Still, Republicans in Alaska don't appear to be happy with any of the outcomes and the president's move to give a little and take a little may simply provoke the party that now controls both chambers during the final years of his presidency. Read more here. KEYSTONE UPDATE: As of deadline, the Senate continued to debate amendments to legislation to approve the $8 billion oil sands project. Sen. Lisa Murkowski (R-Alaska) said she hoped to find a way forward soon and wanted to have votes on amendments Tuesday evening but as debate continued the possibility appeared slim. Over 240 amendments have been filed to the bill. Amendments that may see a vote soon include ones on prohibiting Environmental Protection Agency law enforcement agents from carrying guns, liquefied natural gas exports, a sense of the Senate resolution on Arctic adaptation, and offshore oil revenue. HOUSE ACTS ON LNG: The House will vote Wednesday on a bill aimed at expediting approvals to export liquefied natural gas (LNG) to countries without United States free-trade agreements. Sponsored by Rep. Bill Johnson (R-Ohio) would set a 30-day limit on the Energy Department’s review to determine whether exports are in the national interest. Rest of Wednesday's agenda... The Christian Science Monitor will host a conversation with Energy Information Administrator Adam Sieminski at 9 a.m. on the outlook for the global energy market after the oil price tumble. The Center for Strategic and International Studies will hold a talk on the energy market impacts of low oil prices. The American Council on Renewable Energy will host a webinar on renewable energy, and energy and cyber security on the electric grid. AROUND THE WEB: Coal miner Peabody Energy Corp. lost $787 million in 2014, 50 percent more than it did in 2013, the St. Louis Post-Dispatch reports. The drinking water plant in Lewisburg, W.Va., is operating again following a diesel spill into the water supply over the weekend, West Virginia MetroNews reports. Rio de Janeiro has no "plan B" for sailing events for the 2016 Olympics after the country admitted that it cannot fully clean up the sewage and trash in the water that will host the events, the Associated Press reports. IN CASE YOU MISSED IT: Check out Tuesday's stories... - Court battle set for Obama climate rule - Dems slam Obama's Atlantic drilling proposal - Obama opens Atlantic to new drilling - McConnell asks Dems to cooperate on Keystone - Bill would legalize industrial hemp - EPA chief heads to Vatican to talk climate - Obama to open Atlantic to drilling - india air took 6 hours off Obama's life Please send tips and comments to Laura Barron-Lopez, laurab@thehill.com, and Timothy Cama, tcama@thehill.com. Follow us on Twitter: @thehill @lbarronlopez @Timothy_Cama Feb. 4 Briefing - Securing the Grid: Preparing for Cyber & Physical Threats Are America's critical systems too vulnerable? On Wednesday, Feb. 4, Sen. James Risch (R-ID), Rep. Ed Whitfield (R-KY-01) and other leaders on securing the U.S. power grid against cyber and physical threats. Register here: http://www.congressplus.com/events/index.cfm?action=Registration_Form&eventcode=UmjCvS&bypass=true Sponsored by: ABB