Energy
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Iran peace deal comes just before supply crunch threatens oil markets
Oil executives have been warning for the past couple of weeks that inventories are reaching severely low levels. If the peace deal is signed and the Strait of Hormuz opened, it could take months before inventories are replenished.
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Oil markets respond with lower prices as Trump promises 'permanently' toll-free Strait of Hormuz
During the conflict, prices reached highs of over $100 per barrel in mid-May and have been mostly falling ever since. Over the weekend, they fell over $3 per barrel on news of a possible peace deal.
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Biden anti-fossil fuel Interior secretary runs to become governor of No. 2 oil-producing state
Deb Haaland easily won the Democratic gubernatorial primary in New Mexico, and she could win the general election. Throughout her career, Haaland has been a staunch opponent of oil and gas production, yet the Land of Enchantment is the second largest producer of oil and gas in the U.S.
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Tesla reports $1.1 billion net income in the first quarter of 2024, remains committed to EVs
Total automotive revenues were down 13% over the same quarter last year, and total revenues were down 9% in the same period.
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EPA sending Missouri $156M for low-interest, forgivable loans for solar energy
The competitive process was created through the Inflation Reduction Act in 2022, a 10-year program costing between $780 billion and $1.2 trillion, according to estimates by the U.S. Department of the Treasury.
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Democrats snub invitation to participate in hearing on the impact of Biden’s energy policies
“We firmly believe that fossil fuels drive immense benefits for our company, consumers, the American economy, and ultimately, the world. We do not apologize for it,” Ron Gusek, president of Liberty Energy, told the committee.
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Americans consumed record amounts of natural gas in 2023
The increase was entirely due to rising consumption in the production of electricity. Retired coal-fired power plants are being replaced with natural gas-fired generation, which is shifting that sector toward increased gas use.
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Biden announces $7 billion for solar and 20,000 taxpayer-funded jobs to fight climate change
Modeled after the New Deal-era Civilian Conservation Corps. The initiative, according to the White House, will put more than 20,000 Americans to work in taxpayer-funded positions to advance Biden's climate agenda.
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Texas oil and gas industry shatters job records in March
More than 195,500 people were working in Texas' upstream sector in March, according to the most recent Texas Workforce Commission data.
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New York cancels three offshore wind farms after developer scales down size of turbines
The three projects would have delivered 4 gigawatts of offshore wind to help President Joe Biden meet his goal of 30 gigawatts of offshore wind capacity by 2030.
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Rising fuel prices could impact road trip plans for Washingtonians
Several factors account for the Evergreen State’s painful price at the pump, including refineries switching to a more expensive blend of fuel in the spring and summer months and the rising price of crude oil.
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Critics blast Biden administration’s new ‘conservation leases,’ which they say are illegal
Conservation leases, which have been rebranded as "restoration leases" work just like oil and gas or cattle grazing leases, except the “use” of the land would be to conserve it, which typically means erasing or eliminating impact on the untouched landscape.
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Arizona lawmaker joins others in warning of proposed California locomotive rule
The Republican lawmaker warned that it could also have serious supply chain implications.