LONDON—Oil prices were stable on Thursday as the market weighed the prospect of tight supply against possible recession in the United States, the world’s largest oil consumer. Brent crude fell 7 cents, or 0.08 percent, to $87.26 a barrel by 0935 GMT. U.S. West Texas Intermediate (WTI) was unchanged at $83.26. Both benchmarks had risen…
Oil Stable as Market Weighs Tight Supply Against US Recession Risk
April 13, 2023
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Stocks and Gold Cheer US Inflation Picture, While Dollar Slides
April 13, 2023
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LONDON—Global shares rose on Thursday, while the dollar held near two-month lows after U.S. inflation data suggested the Federal Reserve may soon be finished raising interest rates, which in turn kept gold above $2,000 an ounce. The euro hit a 2–1/2 month high at $1.103. Investors are positive on Europe, where blue-chip stocks hit a…
California’s Last Nuclear Power Plant Diablo Faces Closure Against Lawsuit
April 12, 2023
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An environmental group on Tuesday sued to block Pacific Gas & Electric (PG&E) from seeking to extend the federal operating licenses for California’s last active nuclear power plant. A complaint filed in the San Francisco Superior Court by advocacy group “Friends of the Earth” asks the court to prohibit the utility from sidestepping its 2016…
Biden EPA’s New Vehicle Emissions Standards Sparks Backlash From Auto Industry, Republicans
April 12, 2023
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The Environmental Protection Agency’s proposed emissions standards for automobiles and trucks are raising eyebrows in the auto industry and Washington alike. “EPA’s proposed emissions plan is aggressive by any measure. By that I mean it sets automotive electrification goals in the next few years that are … very high,” John Bozzella, president and CEO of…
Biden EPA’s New Vehicle Emissions Standards Spark Backlash From Auto Industry, Republicans
April 12, 2023
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Business & MarketsCompaniescongressDemocratseconomic policieseconomyelectric vehicleemissionsenergyEnvironmentEPAExecutive BranchPolicies & ImpactsPoliticsRepublicansScienceScience NewsSocial IssuesTechUSUS News
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The Environmental Protection Agency’s proposed emissions standards for automobiles and trucks are raising eyebrows in the auto industry and Washington alike. “EPA’s proposed emissions plan is aggressive by any measure. By that I mean it sets automotive electrification goals in the next few years that are … very high,” John Bozzella, president and CEO of…
Banks Spend Billions on Climate, Racial Equity
April 12, 2023
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In this year’s annual reports to shareholders, America’s largest banks proclaimed their allegiance to climate activism, racial equity, and other progressive causes, spending billions in shareholders’ money to support this agenda. Similar in vein to BlackRock CEO Larry Fink’s annual letter, which often pushed other CEOs to get in line with initiatives like renewable energy,…
Oil Steadies as Market Awaits Key US Inflation Data
April 12, 2023
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Oil prices steadied Wednesday as the market waited for U.S. inflation data later in the day that will likely influence the Federal Reserve’s policy on interest rate hikes. Brent crude gained 14 cents, or 0.2 percent, to $85.75 a barrel by 0917 GMT, while U.S. West Texas Intermediate rose 10 cents, or 0.1 percent, to…
Global Shares Trend Higher With Focus on Inflation Data
April 12, 2023
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TOKYO—Global shares were mostly higher Wednesday, as investors watched for key inflation data likely to influence the Federal Reserve’s stance on interest rates. France’s CAC 40 added 0.4 percent in early trading to 7,420.32. Germany’s DAX edged up 0.4 percent to 15,709.27. Britain’s FTSE 100 surged 0.5 percent to 7,825.05. The future for the Dow…
Germany Shutting Down Its Last 3 Nuclear Plants
April 11, 2023
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Germany will be shutting down its remaining three nuclear power plants this weekend, with the government hoping that renewable energy will be able to compensate for the loss of nuclear power. The plants are scheduled to be shut down on Saturday, April 15. Two of the plants, Neckarwestheim 2 and Isar 2, are located in…
Oil Rises on China Stimulus Expectations, Weaker Dollar
April 11, 2023
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LONDON—Oil prices rose on Tuesday on expectations of potential economic stimulus by China, healthy demand in the rest of Asia, and a drop in U.S. crude stockpiles. Brent crude futures rose 63 cents, or 0.8 percent, to $84.81 a barrel at 0840 GMT, while U.S. West Texas Intermediate futures gained 68 cents, or 0.9 percent,…
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