The Environmental Protection Agency’s (EPA) biofuel program is doing more harm than good by killing endangered species, according to a federal lawsuit against the Biden administration. The lawsuit (pdf), filed in mid-July at the D.C. Circuit Court of Appeals by the Center for Biological Diversity (CBD), challenges the EPA’s fuel-volume requirements for corn ethanol and other…
Oil Prices Steady as Rate Hikes Expected, Supply Tight
LONDON—Oil prices were steady on Monday as traders expected more rate hikes from U.S. and European central banks, but tightening supply and hopes for Chinese stimulus underpinned Brent at well above $80 a barrel. Brent crude futures rose 4 cents, to $81.11 a barrel by 0644 GMT. U.S. West Texas Intermediate (WTI) crude was at…
Weak PMIs, Spain Election Uncertainty Dent Sentiment
July 24, 2023
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London—World stocks slipped on Monday, with weak business activity data and an inconclusive election result in Spain weighing on sentiment in Europe ahead of a central bank-packed week for markets. German business activity contracted in July, increasing the likelihood of a recession in the second half of the year, the German Flash Composite Purchasing Managers’…
House Republicans Call on Senate to Pass Energy Bill and Revive American Mining
July 23, 2023
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Regulatory and judicial reforms adopted by the House in HR 1, the Lower Energy Costs Act, and being proposed in other bills, are urgently needed to unshackle America’s mining industry before the nation faces significant economic and national security challenges, Republicans warned during a Congressional field hearing on critical mineral development in Goodyear, Arizona, on…
Former Dow CEO Backs Nuclear for Australia
July 23, 2023
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The former CEO of Dow Chemical has backed Australia’s adoption of nuclear power. Andrew Liveris, now president of the Organising Committee for the 2032 Games, said the Australian government needed to seriously consider small modular reactors (SMRs). “I definitely am in the school of thinking that when you think about the technologies to get us…
IN-DEPTH: ‘Bidenomics’ Spends Up to $7 million to Create Each $50,000 ‘Green’ Job, Study Finds
July 21, 2023
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Despite the claims of Bidenomics acolytes that it will “rebuild the middle class,” a new study states that the hundreds of billions in federal subsidies for electric vehicle (EV) production are wasteful corporate giveaways, to the tune of up to $7 million per job created. “Taxpayers are going to forego tens of billions of dollars…
Oil Edges Higher, Buoyed by Tighter Supplies, China Stimulus
LONDON—Oil prices rose on Friday, buoyed by evidence of tightening supplies and economic stimulus in slow-recovering China. Brent futures were up 94 cents at $80.58 a barrel by 0955 GMT—rising as high as $1 earlier—while U.S. West Texas Intermediate (WTI) crude also climbed 94 cents to $76.59 a barrel. The supply deficit that had been…
Global Shares Subdued After US Tech Earnings Disappoint
July 21, 2023
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LONDON, SYDNEY—Global stocks edged lower on Friday after disappointing tech earnings sapped risk appetite, while the dollar soared against the yen. The MSCI World index of global shares, which has risen more than 16 percent this year, dipped 0.3 percent. Europe’s STOXX 600 was flat and Germany’s tech-heavy Dax slipped 0.3 percent. Following steep post-earnings…
Biden Admin Announces First Offshore Wind Sale in Gulf of Mexico
July 21, 2023
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The Biden administration on Thursday announced it will hold an offshore wind energy auction in the Gulf of Mexico in August, the first such sale in the area. The three leases are located off the Texas and Louisiana coasts. These areas have the potential to generate approximately 3.7 gigawatts (GW) and power almost 1.3 million…
Vulnerabilities in Solar Panels Could Be Exposed by Chinese Hackers: Senator
July 21, 2023
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The rush to net zero could leave gaping holes for Chinese-backed hackers to disrupt Australia’s energy grid, warns Senator James Paterson. Solar power is a key pillar in the march towards reducing emissions with Australia estimated to need 2.7 billion solar panels to reach net zero by 2050, according to estimates from the University of…
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