Oil Price The United States and Australia agreed this weekend on a clean energy manufacturing pact with a focus on the energy transition and emissions reduction. The so-called Climate, Critical Minerals, and Clean Energy Transformation Compact establishes climate and clean energy as a central pillar of the Australia-United States Alliance, the White House said, reporting the signing of the pact
Nasdaq HOUSTON – Exxon Mobil Corp XOM.N has pushed back against investors pressing the largest U.S. oil producer to report on the risks to its business from restrictions on greenhouse gas emissions and potential environmental disasters. In a reply on Wednesday to proxy advisor Glass Lewis, Exxon said the prospect of the world achieving net-zero carbon dioxide emissions by 2050 is
Oil Price The U.S. government has unveiled tighter rules on electric vehicle (EV) tax credits to curb the nation’s reliance on China’s EV battery supply chains. As part of President Joe Biden’s push to make 50% of U.S. new vehicle sales EVs or plug-in hybrids by 2030, the new sourcing requirements will reduce or eliminate credits on some zero-emission models. The
Oil Price Last month, energy consultancy Wood Mackenzie came out with a warning: the world was running out of oil, but not just any oil. It was running out of oil that can be extracted with a low carbon footprint. The report shined the spotlight on an issue that tends to get overlooked in the daily discourse on climate change and the fossil
CNBC The network of transmission lines that carry electricity across the U.S. is old and not set up to meet the anticipated demand for clean energy sources like wind and solar. Currently, electricity generation results in 32% of carbon dioxide emissions in the United States, mostly from burning fossil fuels like oil, coal, and natural gas. Those fuels are transported
World Oil (Bloomberg) – Alaska’s senators sharply condemned any potential Biden administration move to authorize ConocoPhillips’ $8 billion Willow oil project with restrictions so onerous it wouldn’t be viable, warning that would be seen as a rejection — and an unacceptable blow to residents across the nation’s largest state. “They damn well better not kill the project,” Republican Lisa Murkowski
Oil Price During President Biden’s 2023 State of the Union Address, he relayed an anecdote that I believe explains his stance toward the oil and gas industry. At first, he stayed on script with his prepared remarks, claiming: “You may have noticed that Big Oil just reported record profits. Last year, they made $200 billion in the midst of a global
Oil Price Constant accusations of knowing the effects of their products on the environment and lawsuits have become constant companions of oil companies in the last few years. The successes that activists have had—such as Friends of the Earth’s court win that obliged Shell to cut its emissions by 45 percent—have been celebrated loudly and globally. Naturally, Big Oil tends
BOE Report Are you familiar with Sam Bankman-Fried, the crypto-whiz kid that started crypto-exchange FTX, the 30-year-old worth $30 billion, some were hailing as the new Warren Buffett? His empire is now a pile of rubble, and against all legal advice he’s been delightfully verbose about the epic failure. Here’s a text exchange with a reporter, grammar verbatim: Q: you were really
Oil Price Earlier this month, Vanguard, the world’s largest asset manager, quit a net-zero banking alliance saying it wanted more independence and more clarity about its ESG commitments to investors. Then, a week later, HSBC, the UK-based, developing world-focused lender, announced it would suspend direct financing and advisory services to new oil and gas projects, bowing under the pressure of shareholders and environmental
CNBC BP said it is investing 20 million Australian dollars ($13.53 million) in Australian renewable company 5B, which specializes in solar technology. The energy major said the investment in 5B — made via its subsidiary BP Ventures — wrapped up a Series B funding round of 55 million Australian dollars that had been co-led by Artesian and the AES
Reuters The Biden administration said on Monday it has approved conditional funding of up to $1.1 billion to prevent the closure of the Diablo Canyon nuclear power plant near Santa Barbara as part of the national effort to fight climate change. The Pacific Gas & Electric plant, which was set to fully shut in 2025, applied for funding in the initial phase
