LONDON—A stagnant German economy and sliding yen overshadowed buoyant tech earnings to send shares lower on Friday, with investors betting that next week’s batch of central bank meetings will point towards a levelling off in interest rates. Oil headed for a second week of declines after data on Thursday showing the U.S. economy slowing more…
German Gloom Dampens Stocks as Fed, ECB Meetings Beckon
April 28, 2023
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AGL Retires Liddell Power Station to Build Renewable Energy Hub
Another major coal-fired power station in Australia has been shut down after 52 years of service as its owner steps up the transition to renewable energy. On April 28, AGL, Australia’s largest energy producer and retailer, officially turned off the engine of Liddell’s remaining generators, marking the end of the 1,500-megawatt power station that once…
Extinction Rebellion Climbs Melbourne Arts Spire Over Climate Change
A climate action protestor has scaled the spire of the Arts Centre Melbourne to unfurl a banner protesting climate change. On April 28, the Extinction Rebellion protestors unfurled a large banner across the spire reading, “Occupy for Climate 2023.” The group is known for its high-profile protests—sometimes involving malicious damage—aimed at disrupting the economic activity…
California Electric Vehicle Sales Skyrocket Beyond 2025 Goal
April 27, 2023
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California has surpassed its goal of selling 1.5 million electric vehicles (EVs), long before its predicted 2025 year mark, according to a report from nonprofit organization Veloz. David Hochschild, chair of the California Energy Commission (CEC) and Veloz public policy board, says this milestone is accelerating electric transportation to spread across the state and the United States. “For…
Oil Prices Stabilize After Hefty Losses
April 27, 2023
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LONDON—Oil prices were steady on Thursday after a price drop the previous day reversed the supportive impact of a surprise OPEC production cut announced this month. Brent crude was trading at $77.72 a barrel, up 3 cents, or 0.04 percent, by 1033 GMT, while U.S. West Texas Intermediate crude rose 1 cent or 0.01 percent…
Stock Market Today: Global Shares up Ahead of US GDP Update
April 27, 2023
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TOKYO—Global shares were mostly higher Thursday ahead of the release of data that are expected to show the world’s biggest economy slowing in the first quarter of the year. Shares rose in Paris, Frankfurt, Tokyo, Hong Kong, and Shanghai but fell in London and Sydney. U.S. futures and oil prices were higher. The U.S. economy…
House Panel Debates Whether Biden-Era Energy Policies Benefit China
April 26, 2023
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China’s gains and losses from energy policies during Joe Biden’s presidency were a contested topic during an April 26 hearing of the House Energy & Commerce Committee’s Environment, Manufacturing, and Critical Materials Subcommittee. “Until we increase U.S. capacity for critical mineral extraction and refining, increasing our reliance on renewable energy and EVs [electric vehicles] will…
House Advances Measure to Undo Biden’s Tariff Shield for Chinese Solar Panels
April 26, 2023
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The House Rules Committee on April 26 voted for a bill to undo the Biden administration’s emergency move shielding some Chinese-made solar panels from tariffs, drawing closer to a vote in the full House and a threatened veto from President Joe Biden. House Joint Resolution 39 passed 9 to 4. “We need more, not less,…
Green Energy Transition Will Keep Inflation High, Norway’s Oil Fund Chief Warns
April 26, 2023
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Climate change will keep inflation stubbornly high and result in low investment returns for an extended period, said Nicolai Tangen, the head of Norway’s $1.3 trillion oil fund. Tangen told the Financial Times on April 25 that “inflation is going to be tough to get down,” alluding to a multitude of factors, such as rising…
IN-DEPTH: Manchin Vows to Stop Biden’s ‘Radical Climate Agenda’
April 26, 2023
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Sen. Joe Manchin (D-W.Va.) on Tuesday accused the Biden administration of ignoring domestic energy security provisions in the Inflation Reduction Act (IRA) and pledged to do everything in his power to push back against the administration’s “radical climate agenda.” “The Biden administration is breaking its word to the American public by ignoring the text of…
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