Ford Motor Co. plans to fire hundreds of salaried workers, primarily engineers, in the US this week to boost profit and lower costs amid a $50 billion shift to electric vehicles, according to people familiar with the matter. The automaker is cutting engineers in all three areas of its business, EVs, traditional internal combustion-engine models and commercial …
Ford to Cut Hundreds of U.S. Salaried Workers to Lower Costs Read More »
Achieving net-zero emissions is a critical goal in the fight against climate change. It refers to the balance between the amount of greenhouse gases (GHG) emitted into the atmosphere and the amount removed. To reach net-zero, a comprehensive set of energy transition actions is required: Across most sectors of the economy. By almost all nations …
WASHINGTON — The controversial Line 5 pipeline can keep moving fossil fuels through an Indigenous band’s territory in Wisconsin for now, but operations on that property “must cease” on June 16, 2026, a U.S. judge says. Calgary-based Enbridge Energy Inc., the pipeline’s owner, had asked Wisconsin district court Judge William Conley to clarify his order …
Enbridge ‘Must Cease’ Line 5 Operations on Bad River Land by June 2026 – Judge Read More »
The world’s five biggest publicly listed oil and gas companies posted just under $200 billion in total profits last year. Faced with three strategic possibilities for how to use their cash piles — extract oil and gas apace, move their businesses into renewable power and energy transition assets or return money to shareholders — the supermajors have largely sprung …
Big Oil’s Pullback From Clean Energy Matters Less Than You Might Think Read More »
(Reuters) – Global energy demand rose 1% last year and record renewables growth did nothing to shift the dominance of fossil fuels, which still accounted for 82% of supply, the industry’s Statistical Review of World Energy report said on Monday. Last year was marked by turmoil in the energy markets after Russia’s invasion of Ukraine, …
Renewables Growth Did Not Dent Fossil Fuel Dominance in 2022 Read More »
Summary Crude steady after early gains on supply concerns Clash between Moscow and mercenary group averted U.S. rig count falls for eighth straight week (Reuters) – Oil prices firmed slightly on Monday, with political instability from an aborted revolt by Russian mercenaries over the weekend viewed by the market as not posing an immediate threat …
After two days of talks overhauling the global financial system to tackle climate change, more than 40 world leaders who assembled in Paris this week made limited progress on reforms that could increase support from rich countries to poor countries facing crises. The negotiations — across a number of working groups, panels and bilateral talks — resulted …
Five Takeaways From the Paris Summit to Fix Global Climate Finance Read More »
The $6.6 billion Mountain Valley natural gas pipeline from West Virginia to Virginia is on track to get final permits by as early as this week, moving the long-delayed project closer to re-starting construction. Some analysts, however, said that even when the pipe enters service, which could be as soon as the end of 2023, …
U.S. Mountain Valley Natgas Pipe Moving Forward, Capacity May Be Limited Read More »
NEW YORK, June 23 (Reuters) – A U.S. Democratic lawmaker plans to reintroduce a bipartisan bill next month that would allow electricity generated from renewable biomass to qualify for credits under the nation’s biofuel blending program. The Biden administration abandoned a similar scheme over concerns that it could trigger lawsuits. Under the bill’s plan, producers …
US lawmaker to re-introduce bipartisan bill to get EV industry into biofuel program Read More »
Several private equity firms dropped talks to buy a Siemens Energy AG stake in recent months over concerns about its unpredictable business nature, a decision vindicated by the company’s Thursday profit warning. Blackstone Inc., KKR & Co. and Clayton Dubilier & Rice each held discussions to acquire a major chunk of Siemens AG’s 32% stake …
Buyout Firms Abandoned Siemens Energy Stake Talks Before Plunge Read More »
