Berlin is urged to act quickly by corporate bosses on the weak economy
German business leaders called for Berlin to quickly form a new Government on Monday, warning that Europe's largest economy cannot afford to waste time while companies are suffering from high costs and red tape, as well as increased competition from abroad. The CDU/CSU won the Sunday national elections, clearing the way for a new coalition government with the Social Democrats.
Berlin must act quickly to fix the economy
German business leaders called for Berlin to form a new cabinet quickly on Monday, warning that Europe's largest economy cannot afford to waste time while companies are suffering from high costs, bureaucracy and increasing competition from abroad. The CDU/CSU won the Sunday national elections, clearing the way for a new coalition government with the Social Democrats.
German business leaders react to the election results
The conservative CDU/CSU group won the most votes at Sunday's election. They could form a coalition with the Social Democrats, easing market concerns that Europe's largest economy would be run by a three-way alliance. "We do not need to discuss the issues anymore, they are already well-known. We need action now." We must act now because the rest of world isn't waiting. And the pressure on Germany to be competitive is immense.
German business leaders react to the election results
The conservative CDU/CSU group won the most votes at Sunday's election. They could form a coalition with the Social Democrats, easing market concerns that Europe's largest economy would be run by a three-way alliance. "Germany needs to quickly regain its competiveness." Energy policy is crucial. It is essential to expand gas-fired plants, strengthen wind energy and modernize electricity grids, as well as ensure a reliable supply of raw materials.
German business leaders react to the election results
The conservative CDU/CSU group won the most votes at Sunday's election. They could form a coalition with the Social Democrats, easing market concerns that Europe's largest economy would be run by a three-way alliance. "Germany needs to quickly regain its competiveness." Energy policy is crucial. It is essential to expand gas-fired plants, strengthen wind energy and modernize electricity grids, as well as ensure a reliable supply of raw materials.
Senate confirms Chris Wright, a fracking executive, as Trump's Energy Secretary
The U.S. Senate confirmed Chris Wright as President Donald Trump's Energy Secretary on Monday. Wright is a fracking executive. Seven Democrats and an Independent who caucuses alongside Democrats crossed the aisle. Wright, 60 years old, has been the CEO of Liberty Energy, since 2011. He announced that he would step down as soon as the confirmation was received.
US Democratic lawmakers ask Trump about his blockage of federal grants for clean energy
U.S. Democratic legislators Friday sent letters asking two federal agencies to explain why federal funds were frozen on clean energy investments and federal funds that would lower energy costs for American customers. The agencies had violated federal law, the lawmakers said. Senate Democrats asked the newly confirmed Environmental Protection Agency administrator…
Senate Democrats question EPA's blocking of federal grants committed
Senate Democrats asked the newly confirmed Environmental Protection Agency administrator Lee Zeldin on Friday to explain why his agency frozen federal funds already committed to grantees. They claimed the agency had violated federal law. Democrats in the Senate Environment and Public Works Committee asked Zeldin to explain why the agency had "clawed-back" funds already committed…
If elected, German opposition leader promises to build 50 gas-fired energy plants
The t-online newspaper reported that the opposition leader Friedrich Merz has pledged to build 50 gas-fired plants if the conservatives win in the snap elections on February 23. In November, Germany's gas-fired electricity output jumped a record 79% from the previous month as utilities scrambled for a way to compensate for a second consecutive month of wind farm output that was significantly below normal.
Senate Democrats ask Republicans to delay the hearing on Trump's Energy Secretary nominee
Democratic members of the U.S. Senate Energy Committee asked the Republican chairman of the panel to postpone Tuesday's confirmation hearing of Donald Trump's nominee to head the Department of Energy. They cited a delay in the paperwork. The hearing for Chris Wright will be held on Wednesday. Wright intends to step down from his position as Liberty Energy's CEO and Chairman once he has been confirmed as Energy Secretary.
US House panel finds BlackRock and other asset managers reluctant to join climate initiative
According to a report published on Friday by the Republican-led U.S. Congress committee, top asset managers in the United States were concerned that signing up for an industry climate initiative would make them look like they worked too closely together and attract regulatory scrutiny. This is the latest report released by the U.S. House Judiciary Committee’s…
US House panel finds BlackRock and other asset managers hesitant to join climate initiative
According to a report published Friday by a Republican led U.S. Congressional Committee, top asset managers in the United States are concerned that signing up for an industry climate initiative will make them look like they're working together too closely and attract regulatory scrutiny. This is the latest report released by the majority of the Republican panel…
Chris Wright, CEO of the oil industry, is appointed Energy Secretary by Trump
Donald Trump, the President-elect, announced on Saturday that Chris Wright, an oil and gas executive who is a staunch supporter of fossil fuels, will be his choice to lead the Department of Energy. Wright is the founder of Liberty Energy in Denver, a firm that provides oilfield services. He will likely support Trump's plans to increase oil and gas production and seek ways to increase electricity generation…
German chemical lobby VCI reduces its 2024 forecast amid political turmoil
The German chemicals industry association VCI lowered their annual forecasts on Wednesday, citing the economic stagnation in Germany and political turmoil. The association, which represents 1,900 companies within Germany's third largest industrial sector, is expecting production volumes, including pharmaceuticals, to increase by just 2% in this year. This is a significant drop from the 3,5% growth it predicted for nearly six months.
What are the differences between Trump and Harris' energy policies?
Both Donald Trump, a Republican, and Kamala Harrias are Democrats. They both want to increase production while keeping prices low for consumers. The main difference is that Harris wants to favor clean energy technologies that are crucial in fighting climate change. Trump, on the other hand, would roll back green regulations which hinder oil and coal drilling.
US Steelworkers Union looks at clean energy to replace lost jobs at oil refineries
A union official stated that the United Steelworkers union will rely on clean energy projects in order to boost membership growth and offset losses at oil refineries and petrochemical facilities, even if Donald Trump is elected president on November 5. The USW, a union that represents 30,000 workers at crude oil refineries and petrochemical plants in North America…
Austrian election puts Russian gas habits and a sputtering economic in focus
After the general elections on Sunday, the government in Austria that comes to power will be under increasing pressure to diversify their energy supply and move away from dependence upon Russian gas. This is happening at a time when Austria's economy is in reverse. A majority is not expected from any party. Opinion polls show that the far-right Freedom Party (FPO), which is friendly to Russia, has a slight lead.
Yellen warns that the end of US clean energy tax credit would increase consumer costs
U.S. Treasury secretary Janet Yellen will warn on Thursday that any attempt to rollback the Biden administration’s clean energy tax credit would increase costs for families and threaten new investments in U.S. Manufacturing that are creating jobs. In excerpts from remarks that she will deliver on a visit to Raleigh, North Carolina Yellen said that across the nation…
US Prepares Renewal of Chevron's Venezuela License Without Broader Terms
The U.S. Treasury Department is getting ready to renew in the coming days Chevron Corp's license to operate in Venezuela, but likely without the greatly expanded terms the U.S. oil major sought, four people close to the talks said.The last U.S. energy producer in Venezuela asked President Joe Biden's government in March for a license that would allow it a greater say in its joint ventures with Venezuela's state-run PDVSA…
NOIA: U.S. Offshore Drilling Ban Would Crush Jobs, Govt Revenues
A U.S. ban on new offshore drilling in the Gulf of Mexico, which presidential hopeful Joe Biden promised to enact if elected, would lead to hundreds of thousands of job losses and billions in lost government revenue over 20 years, an offshore drilling industry group said on Tuesday.The report by the Washington-based National Ocean Industries Association comes…
