Bloomberg News reports that HF Sinclair has sued the EPA over delays in a decision on biofuel exemption.
Bloomberg News reported that HF Sinclair was suing the U.S. Environment Protection 'Agency, citing a suit filed by the refiner, for 'continuing...to delay a...decision on exemptions from biofuel blending requirements. The 'American Fuel and Petrochemical Manufacturers', who represent U.S. refiners, took a similar approach. They argued that mandates would increase compliance costs and fuel prices. The EPA stated that it would not comment on pending litigation or ongoing litigation. The controversy comes as Congress fights to pass the year-round sale of E15 gasoline with a higher ethanol content.
Bloomberg News reports that HF Sinclair has sued the EPA over delays in a decision on biofuel exemption.
HF Sinclair has filed a lawsuit against the?U.S. Bloomberg News reported?on Friday that the Environmental Protection Agency continues to?delay a decision regarding exemptions from mandates for?biofuel blends?. The American Fuel and Petrochemical Manufacturers (which represents U.S. refining companies) took a similar position, arguing that mandates would increase fuel prices and compliance costs. The mandates were finalized late in March and require oil refiners either to mix billions of gallons ethanol or?other biofuels with the nation's fuel supply, or purchase?credits called renewable identification numbers (RINs).
MORNING BID AMERICAS - Chips and Ships
Hello Morning Bid readers! It's hard to escape semiconductors and the strait. Asian stocks fell this week, despite the fact that tech giants such as Taiwan's TSMC had reported record numbers. These ructions could 'indicate concerns over the durability of hyperscalers massive AI capex expenditures - and therefore chipmakers' eyeball-popping profits' but the volatility in Asia is likely to also reflect the unwinding leveraged positions. Brent crude oil prices were hovering at $85 per barrel on Friday morning, well below their wartime peak of $118. Investors seem to be betting on the idea that tensions will subside soon - an?gamble which may not payoff.
US lawmakers want to crack down on imports of solar panels that they claim are evading duties
According to a letter obtained by the, a bipartisan group in the U.S. Congress urged on Thursday that Trump's administration crackdown on imports of partially finished solar cells. They claim these are being used to avoid trade duties and to improperly claim "federal manufacturing" tax credits. The long-running U.S. campaign to stop what solar panel manufacturers claim are efforts to avoid tariffs has led to the debate over blue wafers. About 80% of the global solar supply is supplied by Chinese companies, many of which have moved their manufacturing overseas to cater to the U.S.
Trump's clean energy policies are linked to $83 Billion in cancelled or delayed projects
According to a report released on Tuesday by the labor and environmental group BlueGreen Alliance, Trump administration policies have led to the cancellation of or delays of $83 billion worth of investment across hundreds of projects. The report was released as U.S. Senators and labor leaders prepare to meet on Tuesday, to discuss the clean-energy workforce. The analysis revealed that during Donald Trump's second term, 223 manufacturing projects and clean energy projects worth $82.9 billion and 111 765 jobs were stalled or canceled. The analysis attributed this to Trump's signature tax and spending package which repealed Biden-era incentive programs or curtailed them…
Colombia president-elect taps Miguel Gomez as finance minister
Gomez said that Abelardo De La Espriella (the president-elect of Colombia) had appointed him as finance minister. Gomez is a conservative of '65 years old. He will be tasked with pushing through ambitious economic reforms in a polarized Congress where no party has a majority, and the left dominates. This is to pass tax, budget, and spending reduction reforms. He was previously a 'congressman', the head of the state-owned Bancoldex bank, the Fasecolda insurance association, and the Asocoflores flower industry. Gomez’s appointment will be closely monitored by the financial markets.
Mexico's Sheinbaum promises no protection to the ex-Pemex boss after his wife posts an alleged abuse video
On 'Monday, Claudia Sheinbaum, Mexican president, vowed that she wouldn't protect anyone after it appeared in a video that the former head of state energy company Pemex Victor Rodriguez violently abused his wife. The video, posted on YouTube by a woman who identified herself as Maria Felicia Jimenez (Rodriguez's wife), appears to have been captured by a home security system in a family room. It has a date stamp of March 15, 2026. Rodriguez was still the head of Pemex when the video was recorded. He announced his resignation on May 14, in a video that was recorded with Sheinbaum.
Mexico's Sheinbaum promises no protection to the ex-Pemex boss after his wife posts an alleged abuse video
Claudia Sheinbaum, Mexican president, said on Monday she would not 'protect anyone after it was revealed that a video had been released showing the violent abuse of his wife by Victor Rodriguez, former head state energy company, Pemex. The video was posted on YouTube by a woman who identified herself as Maria Felicia Jimenez. She is Rodriguez's spouse. It appears that the video was recorded by a surveillance system at home in a living-room and dates March 15, 2026. At the time, Rodriguez was still the head of Pemex. He announced his resignation on May 14…
Report: US wind and solar investments could be threatened by $121 billion in stalled permits
A report released on Monday found that Trump administration policies have slowed permits for renewable energy project, putting $121 billion in investment at risk. Wood Mackenzie, a research firm in energy, found that President Donald Trump was torn between his desire to accelerate energy infrastructure for artificial intelligence and his opposition to the renewable energy. The report stated that it examined early-stage projects worth $121 billion which?faced investment risks due delays. The federal government is now more concerned about a total of 92 gigawatts of renewable energy projects, which would be enough to power approximately 69 million households.
EUROPE GAS - European prices flat as market monitors US - Iran peace talks
The market was waiting for further developments in the Strait of Hormuz. ICE data shows that the benchmark Dutch 'front-month contract' at?the TTF Hub was flat?at EUR40.90 / megawatt hour (MWh), or $13.63/mmBtu by 0829 GMT. The British June contract rose 0.30 pence to 97.48 cents per therm. "We expect TTF to trade sideways today due to a lack of new geopolitical events and a stable outlook", said LSEG Analyst?YuriyOnyshkiv. He added that the supply remains stable, as both Norwegian pipeline flows, and LNG imports, are expected to hold at high levels. Meanwhile, demand is predicted to remain unchanged over the next few months.
The White House of Trump asks Congress for approval to sell E15 year-round
The White House of President Donald Trump asked Congress to pass a bill on Wednesday allowing gasoline with higher ethanol levels all year round. This would revive a long-sought goal of the biofuels sector. Trump has supported year-round gasoline sales that are blended with 15% of ethanol for some time, but this is the first official push from his White House to implement the policy. It also signals a willingness by the White House to take on U.S. refiners who have opposed the measure because they were concerned it would increase costs and complicate the fuel distribution.
Peso softens in Colombia as a right-wing lawyer is set to become the next president
Colombian stocks rose sharply on Monday, after the right-wing lawyer Abelardo De La Espriella narrowly won the Sunday presidential election. However, both the peso and international bonds were softening in early trading. De La Espriella was a political outsider who led leftist Senator Ivan Cepeda, by less than 1 percent, after running a campaign on promises to shrink the state's size, increase the tax base, reduce corporate taxes, and restart oil exploration. De La Espriella received 49.66%, while Cepeda was behind by about 250,000 votes, with 48.7%. This is according to the initial results from the national register. U.S.
Colombian assets will add to recent gains, as a right-wing attorney is poised to become the next president
The Colombian peso is expected to rise on Monday, and local stocks are likely to continue their gains from Friday as right-wing lawyer Abelardo De La Espriella leads the initial count for Colombia's presidential runoff. De La Espriella was leading Ivan Cepeda, a leftist senator, by less than 1 percent after he campaigned on promises to shrink the size of state, expand the tax base and cut corporate taxes. De La Espriella received 49.66%, Cepeda 48.7%. This is according to the initial results from the national registry. Investors increased…
North Korea's state media touts the'miracles of industrial production' when output exceeds target
North Korea's industrial production reached 105% of its planned 'targets' in the 100 days following the ruling party's congress in February. This was due to technological innovation and worker mobilisation. North Korea presented a five-year economic plan to its Ninth Party Congress, focusing on the basic industries, electricity and living standards. KCNA credited "the strength and patriotism of the nation, as well as self-reliance based upon science and 'technology" for gains in sectors such coal, cement, and power. North 'Korean Leader Kim Jong Un has set science and technilogy as a key formula to?increase production?
The response to the auction of oil drilling rights at Alaska Wildlife Refuge is tepid
Officials from the U.S. Department?of the?Interior said that only $3.7million was bid for five parcels of land in Friday's auction by Trump's administration. The auction included 58 tracts on 689,000 acres (278.828 hectares), in a wildlife refuge known for its pristine habitat, which is home to species such as polar bears, caribou, and migratory bird species. Nine bids were made on five tracts totaling 70,000 acres. The only bidders were Hex Energy LLC and Alaska Industrial Development and Export Authority. The largest individual win was $1.7 million, on Trac No. Hex Energy's 112 was the highest winning tract.
Trump Administration to auction off oil drilling rights in Alaska Wildlife Refuge
The Trump Administration will sell oil and gas leases in Alaska's Arctic National Wildlife Refuge on Friday. This is a "remote, pristine habitat" for polar bears, caribou, and migratory bird species. The auction is a test of the industry's appetite for drilling in Alaska. It is a high-risk endeavor that involves decades of hard work and billions of dollar investments. Oil and gas drillers were offered 60 tracts of the refuge by the U.S. Bureau of Land Management. Bids were due by June 3 and will be read and opened via livestream at 10:00 am (1800 GMT) on Friday.
Investors in renewable energy mobilize to bid on Brazil's battery auction but warn against risks
The government announced on Wednesday that major international investors in renewable energy are lined up to bid for the first battery auction. This will give the storage units the resources they need to buy power from Brazil's struggling renewable generators. In recent years, solar and wind energy projects have suffered losses of hundreds of millions of dollar because the excess power was not used. After two years of promises and much preparation by companies, the auction to purchase batteries for the country’s power sector was added to the schedule of the government for December.
Chile's Codelco copper giant names Jorge Gomez as new CEO
On Wednesday, Chile's state copper giant Codelco announced Jorge Gomez to be its new CEO as the company continues?to deal with fallout from a saga over inflated production figures. Codelco filed a document with the CMF, Chile's financial regulator, to confirm that Gomez would take over as CEO on July 13, citing sources. Gomez, who has been the CEO of Collahuasi Copper Mine, one of?the world's largest copper mines, since 2012, will replace Ruben Alvarado. Alvarado was scheduled to speak before Congress on Wednesday, but he cancelled his appearance. Gomez was a senior executive at?Codelco, responsible for?mines located in central Chile.
Sources claim that Jorge Gomez will be named as the new CEO of Chile's Codelco.
Sources with knowledge of the situation have confirmed that Codelco, the embattled Chilean state copper giant, is set to appoint Jorge Gomez as its new CEO this Wednesday. The 'company will continue to deal with the fallout from a scandal over inflated production numbers. Gomez has been the head of one of the largest copper mines in the world, Collahuasi, since 2012. He will replace the current CEO Ruben Alvarado. Alvarado was scheduled to appear before Congress on Wednesday but cancelled, according to legislative sources. Before joining Collahuasi in 2008, Gomez was a senior executive at Codelco and in charge of the mines located in central Chile.
Sources claim that Jorge Gomez will be named as the new CEO of Chile's Codelco.
Sources with knowledge of the situation said that Codelco, Chile's state copper giant, is set to appoint Jorge Gomez to its new CEO position on Wednesday as it continues to deal fallout from a scandal involving inflated production numbers. Gomez, who has been the CEO of 'the Collahuasi Copper Mine, one of world's largest copper mines, since 2012, will replace Ruben Alvarado. Alvarado was'set to speak at the Congress on Wednesday, but cancelled his appearance. Gomez was a top executive at Codelco, responsible for mines in Central Chile, for 18 months before joining Collahuasi. The move is part of the far-right president Jose Antonio Kast’s reshaping Codelco.
