Michael Dreibelbis

Los Angeles
  • 355 South Grand Avenue, Suite 100
  • Los Angeles, CA 90071-1560
  • USA

Michael Dreibelbis is counsel in the Los Angeles office. Mr. Dreibelbis represents clients in the oil & gas, industrial, utility, private equity, financial, and real estate sectors on a variety of transactions and regulatory matters involving environmental commodities, low-carbon project development, and carbon neutrality.

For more than a decade, Mr. Dreibelbis has advised clients on matters in the low-carbon energy space. After initially establishing a practice in California’s emerging cap-and-trade program for carbon emissions, Mr. Dreibelbis’ work has expanded to include environmental commodities transactions across a range of programs and industries, including the voluntary carbon market, RINs, the California Low Carbon Fuel Standard (LCFS), Renewable Portfolio Standards (RPS) and Renewable Energy Credits, and carbon capture and sequestration (CCS), as well as physical commodities transactions in related markets. Mr. Dreibelbis has also advised on low-carbon and renewable project development, including all aspects of development of a dairy methane capture biogas-to-energy project and several transactions involving solar and wind energy projects.

Mr. Dreibelbis has also advised clients within regulatory proceedings, programs, and enforcement matters involving several California agencies, including CalGEM, the California Public Utilities Commission, and the California Air Resources Board. The scope of representation has included advocacy within notice-and-comment rulemaking, counseling on compliance, and representation in the context of ratemaking and enforcement proceedings.  Mr. Dreibelbis has also advised clients on environmental issues within dozens of M&A and financing transactions.

Mr. Dreibelbis recently rejoined Latham after several years as associate general counsel at a publicly traded land development company in California, where he advised on matters related to net-zero project and infrastructure development, carbon credit transactions, and other matters.

Mr. Dreibelbis’ experience includes advising:

  • The Newhall Land and Farming Company, a subsidiary of Five Point Holdings, LLC, in an unprecedented project to reduce or mitigate to zero all greenhouse gas emissions for a large planned community in California, including the development of a dairy methane biogas-to-energy project and other emissions reduction projects
  • Fuel suppliers in the development, certification, and accreditation of fuel supply pathways to bring low-carbon fuel to market 
  • Numerous oil & gas companies and other regulated entities, in advocating a number of market design changes to the California cap-and-trade program and negotiating US and international carbon offset transactions
  • Chevron, in developing and implementing a carbon offset procurement program
  • Multiple companies on various enforcement actions by the California Air Resources Board, including with respect to allowance auction participation, carbon emissions reporting, carbon offset registration and invalidation, and others
  • SoCalGas in connection with the Aliso Canyon Storage Facility methane leak and renewable natural gas
  • Southern California Edison, in connection with a ratemaking proceeding before the California Public Utilities Commission
  • Chemlogics, a producer of specialty chemicals and polymers for the energy sector (including the fracking industry), in the sale to Solvay SA
  • US Power Generating Company (USPG), an owner and operator of fuel oil and natural gas based electric power generation facilities in New York, in the sale to Tenaska Capital Management
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