Opposition leader Peter Dutton is warning Australian families could be in for soaring power bills if the federal government continues with its proposal to limit gas supply in the Australian energy market. “One of the most important debates in our country, as I say, is energy policy,” Dutton said in Melbourne on April 4. “We’ve supported…
Biden Vetoes Joint Resolution Against His Water Rule
April 6, 2023
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President Joe Biden has vetoed a joint resolution from the House and Senate that would have repealed his Waters of the United States (WOTUS) rule, delivering what could be a fatal blow to that specific challenge to his environmental agenda. The expected veto was issued on the afternoon of April 6. “I just vetoed a…
Macron in China Urges ‘Shared Responsibility for Peace’
April 6, 2023
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BEIJING—French President Emmanuel Macron said Wednesday he wants to “engage China toward a shared responsibility for peace” in Ukraine when he meets Chinese leader Xi Jinping this week. French officials said earlier that Macron planned to urge Xi in talks Thursday to use Beijing’s influence with Russian President Vladimir Putin, but didn’t expect a big…
Santos CEO Derides Greens Influence on Energy Policy
Santos chief executive Kevin Gallagher has criticised the Australian government for pursuing energy policies that aren’t “sensible or prudent,” saying the uncertainty is scaring away investment and concerning the country’s Asian partners. Gallagher lamented that Australia did not have a bipartisan energy policy and “power has been handed to the Greens essentially, and they just…
Swedish Prosecutor Says May Be Difficult to Determine Who Blew Up Nord Stream Pipelines
STOCKHOLM—It will likely be difficult to determine who blew up the Nord Stream pipelines connecting Russia and Germany in the Baltic Sea last year, Sweden’s prosecution authority, which is investigating the incident, said on Thursday. The Sept. 26 explosions at the pipelines connecting Russia and Germany occurred in the economic zones of Sweden and Denmark….
Oil Heads for 3rd Weekly Gain After Shock OPEC+ Cuts
April 6, 2023
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LONDON—Oil remained on track for weekly gains on Thursday, with further production cuts targeted by OPEC+ and a drop in U.S. oil inventories overshadowing fears over global economic growth. Brent and U.S. crude have both gained more than 6 percent this week, heading for a third weekly gain after the Organization of the Petroleum Exporting…
World Stocks Dither, Bond Yields Fall as Recession Worries Weigh
April 6, 2023
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LONDON/TOKYO—Global stocks drifted on Thursday, following skittish trade in the Asian session, as traders awaited crucial U.S. jobs data that may add to mounting evidence of a U.S. slowdown and the likelihood of a global recession. The broad MSCI index of world stocks dipped 0.1 percent, putting it on track for its first weekly decline…
Australia’s Largest Solar Farm Completes Construction, Prepares for Full Operation
A huge solar farm in Queensland, which boasts over one million solar panels, is in the final steps of preparation before coming online. On April 5, Queensland Premier Annastacia Palaszczuk visited the Western Downs Green Power Hub to see the project complete its construction phase. While the last solar panels have been installed, the 400-megawatt…
Biden Administration Downplays Effect of Surprise OPEC+ Production Cuts
The Biden administration downplayed the effect of the surprise decision by OPEC+ to continue production cuts, insisting that the situation is different than last year. This response contrasts the administration’s stance in October of last year when President Joe Biden threatened consequences for Saudi Arabia after the OPEC+ cut. The administration’s current response was outlined…
Treasury Department and IRS Issue Guidance for Bonus Tax Credit for Fossil Fuel Communities
April 5, 2023
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The Biden administration issued final guidance on the bonus tax credit for American communities dependent on fossil fuels. The new rules, issued by the Department of the Treasury and the Internal Revenue Service on April 4, will allow “green” energy companies to secure additional tax credits when investing in local communities economically tied to oil and coal extraction….
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