The Northern Territory (NT) is looking to replace its current mining royalty scheme with one that is more competitive following a report that found it to be a deterrent to investment. Currently, the territory is looking at changing its profits-based scheme to one that is based on the underlying value of the extracted assets. The…
Northern Territory Considers Replacing ‘Uncompetitive’ Mining Royalties Scheme
Republicans Aim at EPA’s Possible Approval of California Ban on Gas-Powered Car Sales by 2035
June 22, 2023
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A bill from House Republicans is targeting the Environmental Protection Agency’s ability to issue Clean Air Act waivers for California that could lead to major restrictions or even bans on gas-powered vehicles. Those waivers are a live issue. Last month, the California Air Resources Board asked the Biden administration for one so it can ban…
It’s the Methane, Stupid: Washington Rhetoric on Climate Misses the Biggest Target
June 22, 2023
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Commentary There are two aspects of the climate policies coming out of Washington and various state capitals that trouble me. The first is that officials set ostensivsely arbitrary and ambitious deadlines with little evidence they can be achieved. I’m always stunned that politicians can march before the microphones and boldly state that “by 2030, we will…
EPA Criticized Over ‘Disappointing’ Ethanol Mandates in New Renewable Fuel Standards
The Environmental Protection Agency (EPA) on June 21 unveiled its Renewable Fuel Standard, increasing the amount of biofuels that American refiners must blend into the nation’s fuel supplies from 2023 to 2025, but keeping in place lower mandates for homegrown corn-based ethanol. Under the new fuel standards, biofuel blending volumes are set at 20.94 billion gallons in 2023,…
Oil Dips With Interest Rates and Inventories in Focus
June 22, 2023
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LONDON—Oil futures dipped slightly on Thursday, with trader expectations of further interest rate hikes countered by potentially bullish U.S. oil inventory data after preliminary figures showed a fall in stocks. Brent futures eased by 47 cents, or 0.6 percent, to $76.65 a barrel at 0840 GMT and U.S. West Texas Intermediate (WTI) crude futures were…
Shares Ease, Dollar Steady in Central-Bank Heavy Day
June 22, 2023
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LONDON/SINGAPORE—Global shares eased on Thursday after Federal Reserve Chair Jerome Powell indicated U.S. rates had further room to rise, while the dollar held steady against the pound ahead of the Bank of England’s decision on monetary policy later on. The MSCI All-World index was down 0.1 percent, heading for a fifth straight day of declines,…
House Digs Deeper Into Chinese-Owned Battery Company’s Rescinded Grant From Biden DOE
June 22, 2023
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House Republicans have voiced worries about the Biden administration’s energy-related spending, questioning a Department of Energy (DOE) official about how a Chinese-owned battery manufacturer was on pace to get hundreds of millions in taxpayer money before the Biden administration yanked the money away last month. That company, Microvast, somehow qualified for a $200 million grant…
Thousands of Residents in Oklahoma and Louisiana Remain Without Power Following Weekend Storms
June 21, 2023
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TULSA, Okla.—Thousands of residents in Oklahoma and Louisiana remained without electricity Wednesday as work crews continued to repair power lines damaged by weekend storms. In Tulsa, Oklahoma, less than 92,000 customers remained without power after three tornadoes northeast of the city caused extensive damage Sunday, including downed trees and hundreds of snapped utility poles. The…
House Judiciary Committee Probes Durham Over FBI Trump Presidential Campaign Investigation
Analyzing the FBI’s alleged mishandling of the investigation into former President Donald Trump’s 2016 campaign, the House Judiciary Committee hears from special counsel John Durham. Find out what Republicans point to as solid evidence of political bias at the bureau, and how Democrats are pushing back. Two representatives are bringing articles of impeachment—one against President…
UK Returns to Coal Power After Solar Panels Fail in Hot Weather
June 21, 2023
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The United Kingdom has resorted to restarting a coal-fired power plant to meet demand for air conditioning after the nation was hit by a major heatwave. Temperatures in Britain hit 86 degrees Fahrenheit two weekends ago for the first time this year, pushing up demand for power as households and businesses faced unusually brutal heat….
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