California Approves Fuel Tax Hike
California lawmakers on Thursday approved legislation to increase gasoline taxes and other transportation-related fees for the first time in decades, to fund an ambitious $52 billion plan to repair the state's sagging infrastructure. The legislation heads to the desk of Democratic Governor Jerry Brown…
As Trump Targets Energy Rules, Oil Companies Downplay their Impact
President Donald Trump’s White House has said his plans to slash environmental regulations will trigger a new energy boom and help the United States drill its way to independence from foreign oil. But the top U.S. oil and gas companies have been telling their shareholders that regulations have little impact on their business…
Russia says Ready to Talk to Trump About Nuclear Arms, Syria
Russian Foreign Minister Sergei Lavrov said on Tuesday that Moscow was ready to talk to U.S. President-elect Donald Trump's new administration about nuclear weapons and Syria, saying the two countries could together solve many of the world's problems. Lavrov, speaking days before Trump's inauguration…
Tillerson's Nomination has U.S. Lawmakers Uneasy
President-elect Donald Trump announced Exxon Mobil Corp Chief Executive Officer Rex Tillerson as his choice for U.S. secretary of state on Tuesday, despite concerns from lawmakers in both political parties over the oilman's ties to Russia. Tillerson's experience in diplomacy stems from making deals with foreign countries for Exxon…
Trump Picks Rick Perry for Top US Energy Job
President-elect Donald Trump on Wednesday named former Texas Governor Rick Perry to head the U.S. Department of Energy, handing the job to a climate change skeptic with close ties to the oil industry who once proposed abolishing the department. The choice adds to a list of drilling proponents who have been tapped for top jobs in Trump's administration…
Commodities' Outlook: Will Trump Reality Match Rhetoric?
Beyond the short-term volatility as investors become used to the idea of President Donald Trump, the main risk for global commodities is how much of the campaign rhetoric translates into policy reality when the Republican victor moves into the White House. The problem global commodity markets are currently grappling with is that the new U.S.
Trump Victory Bad News for Dakota Pipeline Protestors
The surprising victory by Native American and environmental groups in September to delay the Dakota Access Pipeline may turn out to be short-lived, after Donald Trump's unexpected win in the U.S. presidential election. Trump backs measures to speed energy industry development and upgrade the country's oil and gas infrastructure.
Trump Win Boosts Coal, Hits Renewable Stocks
The prospect of an abrupt shift in U.S. climate policy under President-elect Donald Trump lifted the shares of U.S. mining equipment giant Caterpillar Inc, North American railroads and other companies tied to fossil fuels, and slammed shares of renewable energy firms. Trump has called climate change a hoax…
Trump's Energy Policies Not Yet Defined: Kemp
Donald Trump's victory in the U.S. presidential election will trigger a race among journalists, analysts and traders to explain what it means for energy policy and markets. But the president-elect does not yet have clearly formed policies on most energy issues so the implications will…
Vestas Sees US Slowdown in 2017
Q3 EBIT almost doubles, exceeds analyst expectations vastly. The world's biggest wind turbine maker Vestas warned on Tuesday that it expected a slowdown in its key U.S. market next year, overshadowing robust third-quarter results and an upgrade to its 2016 sales forecast. The Danish company and its peers are benefiting from a new focus on renewables…
Oil Steady as U.S. Voters Head to Polls
Clinton seen by investors as offering greater stability. China crude imports weaken, but still up on year. Oil prices held steady on Tuesday, ahead of the U.S. presidential election, as investors unwound some of their recent bets against economically sensitive assets such as crude and equities. In a swell of investor risk appetite, U.S.
Battered U.S. Coal Industry Hopes for Trump
Republican presidential nominee Donald Trump has won over the U.S. coal industry by promising to revive the downtrodden sector and scrap regulations if elected. But the industry has a Plan B if the New York businessman loses to his more green-minded Democratic rival Hillary Clinton on Tuesday: carbon capture and storage…
Oil Industry Workers Split Between Trump and Clinton
U.S. oil and gas industry workers have contributed only slightly more money to the campaign of Democrat Hillary Clinton than to Republican Donald Trump since the two clinched their parties' nominations for the White House, according to Reuters' review of federal disclosures. The nearly…
EU Backing to tip Paris Climate Deal over Threshold
European Parliament backs accord to fight climate change; Ratification expected to be with U.N. by Friday. The European Parliament backed the Paris accord to fight climate change on Tuesday, tipping it over the threshold needed for the global deal to enter into force, in what U.N. chief Ban Ki-moon hailed as an historic vote.
Stein Faces Probe Over N. Dakota Pipeline Protest
Authorities in North Dakota are investigating possible charges against U.S. Green Party presidential candidate for allegedly damaging equipment during protests on Tuesday over construction of an oil pipeline in the state. Jill Stein allegedly was part of a group protesting the building…
Kremlin Oil Boss: US Elections Creating Energy Market Uncertainty
The head of Kremlin oil major Rosneft Igor Sechin said on Thursday the development of the U.S. oil industry was at a crossroads due to the country's upcoming presidential election, thus creating risks for the global economy. Sechin, a close ally of president Vladimir Putin, told a panel packed with top executives from oil majors such as BP and Total…
Congress Urged to Reject TPP over Environmental Concerns
More than 450 groups on Monday called on Congress to reject the Trans-Pacific Partnership (TPP) if it comes up for a vote this fall, saying the trade deal would allow fossil fuel companies to contest U.S. environmental rules in extrajudicial tribunals. The groups, most of them environmental organizations, warned that companies could challenge U.S.
Trump Says Would Approve Keystone XL Pipeline if Elected
Republican presidential contender Donald Trump said on Thursday that he would approve TransCanada's Keystone XL pipeline proposal if elected, reversing a decision by the administration of President Barack Obama to block it over environmental concerns. "I would absolutely approve it, 100 percent…
Trump Advisers Push OPEC and Regulatory Impacts
Two energy advisers to Donald Trump want him to call out members of the Organization of the Petroleum Exporting Countries for driving down world oil prices when he delivers a major energy policy speech this week. The advisers, who said they had been asked by Trump's 2016 presidential campaign to contribute ideas for the speech…
Oil Price War Threatens US Sense of Energy Security
The political economy of oil prices in the United States is complicated. The United States is the world's largest oil consumer and one of its biggest importers. But it is also a substantial producer with large oil and gas resources. And its oil is medium-cost, more expensive to produce…
