Republicans warned the toughest-ever standards for power plant emissions may imperil Americans’ power. “We’re starting down a path to severe grid reliability challenges throughout the country,” said Rep. Bill Johnson (R-Ohio) during the June 6 hearing. He highlighted a recent report from the nation’s largest electric grid operator, PJM Interconnection, warning of the potential for…
Republicans Warn of Blackouts Under Toughest-Ever ‘Green’ Power Plant Standards
June 6, 2023
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Crude Oil Prices to Rise in 2023, 2024 Amid Tighter Supplies: EIA
Crude oil prices will be higher in 2023 and 2024 as global supplies become tighter, the U.S. Energy Information Administration (EIA) predicted in its latest Short-Term Energy Outlook (STEO). The EIA forecasts that the average spot price for Brent, the international benchmark for global oil prices, will be $79.54 per barrel this year, up 1.1…
Republicans Considering Legislation to Counter ‘Lawfare’ Abuse
June 6, 2023
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Lawfare abuses orchestrated by left-wing activists and sympathetic government officials that enact harmful policies and enrich activist groups need to be curbed, a congressional panel heard on June 6. The former Trump administration curbed such abuses but the Biden administration revoked the Trump policy and as a result, energy development has been shut down on…
Labour Will Create Jobs in Nuclear, Renewables, Says Starmer Amid Union Concerns
Workers are at the heart of Labour’s mission to decarbonise Britain’s economy, party leader Sir Keir Starmer said, vowing to avoid the mistakes of the mass closure of coal mines in the UK. Speaking at the GMB union’s Congress in Brighton on Tuesday, Starmer promised decent pay, safer work, and better infrastructure, as “new nuclear,…
Oil Falls as Economic Fears Overshadow Saudi Output Cut
June 6, 2023
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LONDON—Oil prices tumbled more than $1 a barrel on Tuesday, after a strong rally in the previous session as worries about the global economic growth outweighed Saudi Arabia’s pledge to deepen output cuts. Brent crude futures were down $1.33, or 1.73 percent, to $75.38 a barrel by 0923 GMT. U.S. West Texas Intermediate crude fell…
World Stocks Tread Water as Traders Eye Fed Pause Prospects
June 6, 2023
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LONDON—European stocks started Tuesday mixed, as soft U.S. economic data reinforced expectations the Federal Reserve may skip an interest rate hike when it meets next week. The pan-European STOXX 600 index was up 0.1 percent to 460.40 at 0830 GMT. In the previous session, the index dropped as data pointing to tepid U.S. business activity…
No End to Price Shocks: Think Tank Warns Against Closing Australia’s Largest Power Station
June 6, 2023
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The New South Wales (NSW) Labor government must do everything it can to stop the closure of the Eraring Power Station, with one think tank warning its shutdown could trigger major energy shortages and price hikes. Eraring’s seemingly inevitable closure will follow that of Liddell Power Station, Australia’s second-largest power plant, which supplied power to…
Lawsuit Filed Against Australia’s Environment Minister for Not Considering ‘Climate Risk’
June 5, 2023
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A legal challenge has been lodged against Australia’s environment minister, Tanya Plibersek, claiming she did not adequately consider climate risks when approving two new coal mining projects. The action, filed in the Federal Court of Australia, seeks a judicial review of the minister’s decision, arguing there were legal errors because Plibersek did not consider the…
Labour Leader Reassures Oil and Gas Needed for ‘Many Years to Come’
Oil and gas will be necessary for “many, many years” to come, Labour Leader Sir Keir Starmer has said following criticism from trade unions that his energy plans will hit jobs. Two major trade unions have expressed concerns after media reports suggested that Labour would promise to halt new oil and gas production in the…
Oil Rises on Saudi Plan to Deepen Output Cuts From July
LONDON—Oil prices rose by more than $1 a barrel on Monday after top crude exporter Saudi Arabia pledged to cut production by a further 1 million barrels per day (bpd) from July to counter macroeconomic headwinds that have depressed markets. Brent crude futures were up $1.72, or 2.3 percent, at $77.85 a barrel by 0900…
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