Over the past several years, China’s powerful grip on rare earth elements has motivated action by Congress and multiple presidents. Millions in government funding went to an American rare earth and critical mineral refinery and a rare earth separation plant. Just last week, Reps. Guy Reschenthaler (R-Penn.) and Eric Swalwell (D-Calif.) reintroduced a bill that…
IN-DEPTH: America Fails to Grasp China’s Rare Earth Dominance, Analysis Finds
May 1, 2023
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Threats to Fuel Supply Could Cripple Australia: Australian Defence Minister
Economic coercion from China could cut off Australia’s fuel supplies, crippling the vast country’s food and transport sectors, according to Deputy Prime Minister Richard Marles. Marles, who is also Australia’s defence minister, said that Australia’s exposure to economic coercion is even greater than the risk of invasion, and the potential of such coercion going forward is…
California Approves Rule Banning Diesel Trucks by 2036
April 29, 2023
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The California Air Resources Board (CARB) approved new regulations and voted to ban the sale of diesel big rig trucks by 2036 and require all trucks to be zero-emissions by 2042, the company announced Friday. The Advanced Clean Fleets rule is added to a list of California’s zero-emissions regulations in an effort to become more environmentally friendly…
IN-DEPTH: States Fight ESG Industry, Despite Costs and Long Odds
April 29, 2023
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As conservative states push back against the progressive agenda of Wall Street banks and asset managers, some analysts are warning that “anti-ESG” states will pay a price for taking on Wall Street and the ESG industry. North Carolina State Treasurer Dale Folwell has enacted several measures, including calling on Larry Fink, CEO of BlackRock, the…
Federal Agency Issues Emergency Waiver for E15 Gasoline to Boost Fuel Supply
The U.S. Environmental Protection Agency on Friday issued an emergency nationwide waiver that allows for the sale of gasoline with higher concentrations of ethanol during the summer driving season. It’s the second year in a row that the EPA issued such an emergency rule allowing the sale of E15 gasoline, which has an ethanol content of 15…
Texas Passes Bill to Make Electric Vehicles Owner Pay $200 Annual Fees
A new Texas bill that would impose a $400 registration fee for a new electric vehicle and a $200 annual renewal fee has cleared the state legislature with zero opposition vote. The bill, known as Senate Bill 505, on Thursday swept through the Texas House with unanimous approval. It had already unanimously passed the Senate…
Energy Security at Risk as UK Set to Miss Net Zero Green Electricity Target, Say MPs
Britain’s energy security is at risk as the country is on track to fail to meet its targets to generate all of its electricity without burning gas by the middle of next decade, MPs have warned. In its “Net Zero Strategy” published in October 2021, the UK government set an ambition for all electricity generation…
Exxon Delivers Record 1st-Quarter Profit on Higher Output
HOUSTON—Exxon Mobil Corp. on Friday reported a record first-quarter profit that was more than double a year ago and topped Wall Street estimates as rising oil and gas output overcame a pullback in energy prices from high levels. Oil companies are riding a wave of strong demand and cost-cutting tied to efforts to counter COVID-19…
Chevron Tops Estimates With 1st Quarter Profit Gain Despite Slide in Oil Prices
HOUSTON—Oil major Chevron Corp. beat market expectations on Friday as profit nudged higher in the first quarter, with earnings from refining compensating for slides in energy prices as well as oil and gas production. Net profit climbed 5 percent to $6.57 billion or $3.46 per share. Results beat consensus by 4 percent, according to Refinitiv…
Oil Heads for Another Monthly Decline as Weak US Data Weighs
April 28, 2023
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LONDON—Oil prices were heading for another monthly decline on Friday after disappointing U.S. economic data and uncertainty over further interest rate hikes weighed on the demand outlook. Brent crude futures for June were up 42 cents, or 0.5 percent, at $78.79 a barrel by 0946 GMT while the more actively traded July contract was down…
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