The Australian Labor government is getting very close to legislating its climate safeguard mechanism after reaching an agreement with the Greens party. On March 27, the Greens announced that it would support the safeguard mechanism after securing “significant changes” to the legislation, which Labor wanted to push through the parliament this week. The mechanism is…
Greens Deal Paves Way to Legislate Climate Safeguard Mechanism
March 27, 2023
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White House Vows to Veto House Republican’s Pro-Fossil Fuel Energy Package
The White House is threatening to veto the House Republicans’ pro-fossil-fuel legislative package that defies President Joe Biden’s progressive climate-focused agenda. The 175-page bill, known as the Lower Energy Costs Act and given the symbolic priority of H.R. 1, is heading to a vote later this week. The package includes measures that would, among many…
‘Wind Power Fails on Every Count’: Oxford Scientist Explains the Math
Wind power has been historically and scientifically unreliable, claims an Oxford University mathematician and physicist, with his calculations revealing the government to be pursuing a “bluster of windfarm politics” while discarding numerical evidence. After the decision to cut down on fossil fuels was made at the 2015 United Nations Climate Change Conference in Paris, the “instinctive…
More Than 94,000 Prepayment Meters Forcibly Installed in UK Homes Last Year
Energy suppliers forcibly installed more than 94,000 prepayment meters in UK homes last year without customer consent, the government has revealed. As part of the government’s clampdown on “mistreatment of vulnerable customers,” Energy Security Secretary Grant Shapps on Monday named the suppliers that are the “most overzealous” in the use of these meters. According to…
Wall Street, Banks Rise After SVB Sale to First-Citizens
March 27, 2023
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U.S. futures shot higher early Monday, with bank stocks mostly gaining after the Federal Deposit Insurance Corp. said it had agreed to the sale of troubled Silicon Valley Bank to North Carolina-based First-Citizens Bank & Trust Co. Futures for the Dow Jones Industrial Average and S&P 500 each climbed 0.8 percent early Monday. The FDIC…
Oil Gains Some Ground as Investors Assess Banks, Russia
March 27, 2023
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LONDON—Oil prices rose on Monday as investors assessed efforts by authorities to rein in concerns over the global banking system while Russian President Vladimir Putin’s plans to place tactical nuclear weapons in Belarus ratcheted up tensions in Europe. Brent crude futures were up 30 cents, or 0.4 percent, to $75.29 a barrel at 0900 GMT….
Resistance to Offshore Wind Is Growing on US Coasts
March 26, 2023
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A growing chorus of interest groups is calling for a pause in offshore wind activities to allow further assessment of the sector’s impacts on the marine ecosystem. Congressman Jeff Van Drew of New Jersey, a Republican, introduced a congressional resolution on March 21 to halt work on east-coast offshore wind projects until investigations into its…
Federal Agency Announces New Rules for Air Conditioners Amid Controversy Around Gas Stoves
March 24, 2023
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The Department of Energy (DOE) on Thursday said it has finalized rules on window air conditioners and air cleaners that it says will make the common household items more efficient, coming as the federal government has signaled it would further regulate gas stoves. The agency said it has “finalized new energy efficiency standards for room…
Utility Shuts Down Minnesota Nuclear Plant Over Radioactive Leak
A utility company said it will shut down its nuclear power plant in Minnesota after it found a radioactive substance that’s being leaked into nearby groundwater. Xcel Energy confirmed Thursday it will start the shutdown of the Monticello power plant on Friday to perform repairs to “permanently resolve a leak of water containing tritium at the…
Oil Falls as US Holds Off Refilling Strategic Reserve
March 24, 2023
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Oil prices extended losses on Friday on worries about a potential oversupply after U.S. Energy Secretary Jennifer Granholm said refilling the country’s Strategic Petroleum Reserve (SPR) may take several years. Brent crude fell 34 cents, or 0.45 percent, to $75.57 a barrel by 0412 GMT, while U.S. West Texas Intermediate crude futures slipped 32 cents,…
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