Democrats and Republicans are quick to talk up a bipartisan infrastructure deal. Yet neither party wants to take the political risk of paying for it when all options are toxic — including the obvious choice of raising the national gas tax. Increasing the gas tax is so politically fraught that it hasn’t been touched in …
LONDON (Reuters) – Iranian oil exports will slide in May as the United States tightens the screws on Tehran’s main source of income, industry sources said, deepening global supply losses caused by U.S. sanctions on Venezuela and OPEC-led cuts. The United States reimposed sanctions on Iran in November after pulling out of a 2015 nuclear …
Oil investors are losing faith in the crude rally, more moved by the US drilling boom than geopolitical tensions, according to Bloomberg. Money managers slashed optimistic wagers on US oil prices for the first time since February, while boosting wagers on a decline by 14%, data released on Friday show. That pushed overall sentiment to …
Russia pumped more crude last month than agreed under the Opec+ deal, lagging behind Energy Minister Alexander Novak’s pledge to comply with the pact. Russia produced 45.97mn tonnes of crude in April, according to prelimi- nary data from the Energy Ministry’s CDU-TEK unit. This equals 11.233mn bpd, or 185,000 barrels lower than the October daily …
By Clyde Russell LAUNCESTON, Australia, May 1 (Reuters) – Australia’s iron ore exports rebounded in April after being hit by a cyclone the prior month, but the surge in shipments wasn’t enough to offset declining volumes from Brazil in the wake of January’s tailings dam disaster. Australian exports were about 69.1 million tonnes in April, …
US Steel Corp’s plan to invest more than $1bn at two of its Pennsylvania plants helps alleviate two key complaints against the once-dominant company: it had under-invested until recently in its facilities and done too little to mitigate its emissions. A new “sustainable” casting and rolling facility will be built at the Edgar Thomson Plant …
Reuters Tesla Inc on Friday was set to raise up to $2.7 billion in a record-setting capital raising for the electric carmaker, as investors scooped up a mix of new stock and convertible notes that will recharge the company’s cash-depleted balance sheet. The company said in a filing that it had raised its offer to …
Global production of batteries for electric cars is concentrated in Asia, with Chinese, Japanese and South Korean firms dominating the sector and building factories in Europe to conserve their supremacy. However Europe is looking to strike back, with France and Germany saying on Thursday they would form an alliance to develop next-generation batteries in a …
Bloomberg/ London Iran’s oil minister warned that Opec is in danger of collapse as some nations seek to undermine their fellow members, an apparent reference to Saudi Arabia’s pledge to fill the supply gap created by US sanctions on Iranian exports. “Iran is a member of Opec for its interests and any threat from member …
Oil major Royal Dutch Shell Plc has asked the UK government for taxpayer subsidies for the development of underground carbon
dioxide storage, the Sunday Times reported. The support for carbon capture and storage projects would be lower than incentives
previously granted to renewable technologies, the paper cited Maarten Wetselaar (pictured), head of integrated gas and new
energies, as saying. Energy Minister Claire Perry announced a £35mn ($45mn) pledge in November to support carbon capture
technologies in the UK, the Sunday Times said last week.
