Biden administration leans on Tesla for guidance in renewable fuel policy reform

June 23 (Reuters) – US President Joe Biden rarely mentions electric car maker Tesla Inc (TSLA.O) in public. But privately his administration has leaned on the company to help craft a new policy to allow electric vehicles (EVs) to benefit from the nation’s lucrative renewable fuel subsides, according to emails reviewed by Reuters. The Biden … Read more

Fed to lift rates by 75 basis points in July, 50 bps in September – Reuters poll

The Federal Reserve building is seen before the Federal Reserve board is expected to signal plans to raise interest rates in March as it focuses on fighting inflation in Washington, US, January 26, 2022. REUTERS/Joshua Roberts/File Photo Register now for FREE unlimited access to Reuters.com Register BENGALURU, June 22 (Reuters) – The Federal Reserve will … Read more

Oil prices fall as recession fears trump tight supply

An aerial view shows oil tanks of Transneft oil pipeline operator at the crude oil terminal Kozmino on the shore of Nakhodka Bay near the port city of Nakhodka, Russia June 13, 2022. Picture taken with a drone. REUTERS/Tatiana Meel Register now for FREE unlimited access to Reuters.com Register LONDON, June 20 (Reuters) – Oil … Read more

Biden demands oil companies explain lack of gasoline as prices rise

Gas prices over the $6.00 mark are advertised at a 76 Station in Santa Monica, California, US, May 26, 2022. REUTERS/Lucy Nicholson Register now for FREE unlimited access to Reuters.com Register WASHINGTON, June 15 (Reuters) – US President Joe Biden on Wednesday demanded oil companies explain why they aren’t putting more gasoline on the market, … Read more

US gasoline average price tops $5 per gallon in historic first

June 11 (Reuters) – The price of US gasoline averaged more than $5 a gallon for the first time on Saturday, data from the AAA showed, extending a surge in fuel costs that is driving rising inflation. The national average price for regular unleaded gas rose to $5.004 a gallon on June 11 from $4.986 … Read more

Facing record inflation, Biden aims at Exxon, other oil companies

US President Joe Biden speaks during the opening plenary session at the Ninth Summit of the Americas in Los Angeles, California, US, June 9, 2022. REUTERS/Daniel Becerril Register now for FREE unlimited access to Reuters.com Register LOS ANGELES, June 10 (Reuters) – US President Joe Biden on Friday accused the US oil industry, and ExxonMobil … Read more

Draft Indonesia renewable bills proposes coal-based fuels as ‘new energy’

A heavy machinery unload coal from barges into trucks to be distributed, at the Karya Citra Nusantara port in North Jakarta, Indonesia, January 13, 2022. Picture taken with a drone. REUTERS/Willy Kurniawan Register now for FREE unlimited access to Reuters.com Register JAKARTA, June 8 (Reuters) – Environmental experts on Wednesday slammed an Indonesian parliamentary proposal … Read more

Column: La Nina may further disrupt commodity markets via hurricanes

Mangled irrigation systems lay across farmland in central Nebraska after high winds swept across the US Great Plains and upper Midwest, Litchfield, Nebraska, US, in this still image obtained from a social media video. KEVIN FULTON/via REUTERS Register now for FREE unlimited access to Reuters.com Register NAPERVILLE, Ill., June 7 (Reuters) – As if commodity … Read more

Yellen says inflation to stay high, Biden likely to up forecast

WASHINGTON, June 7 (Reuters) – US Treasury Secretary Janet Yellen told senators on Tuesday that she expected inflation to remain high and the Biden administration would likely increase the 4.7% inflation for forecast this year in its budget proposal. During a Senate Finance Committee hearing, Yellen said that the United States was dealing with “unacceptable … Read more

Texas power use to hit record as temperatures soar

Overhead power lines are seen during record-breaking temperatures in Houston, Texas, US, February 17, 2021. REUTERS/Adrees Latif Register now for FREE unlimited access to Reuters.com Register June 6 (Reuters) – Power demand in Texas is set to break its all-time record this week, testing the resilience of the grid after generation issues this year and … Read more