U.S. Treasury Secretary Janet Yellen said during a speech in Belem, Brazil, on Saturday that the price tag for a global transition to a low-carbon economy amounts to $78 trillion in financing through 2050.
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The United States is producing more oil now than any nation in the world has ever produced. In 2008, the U.S. produced only 5 million barrels of oil a day. Last year, the country produced 13 million barrels daily.
The United States’ record-breaking production is often used to knock back the argument President Joe Biden’s energy policy aims to minimize domestic fuel fuel production – to cut carbon emission and make way for more renewable energy.
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Vice President Kamala Harris cast the tie-breaking vote in the Senate for the first COVID-19 stimulus package in 2021 which led to inflation, in what critics call a sign of what’s to come in a possible Harris administration.
Harris, who is the President of the Senate, has cast the most tie-breaking votes in the Senate of any vice president, a total of 33 thus far. Her second tie-breaker was for the stimulus package at the beginning of the Biden administration, which has significantly impacted the economy, as inflation has skyrocketed.
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Vice President Kamala Harris promoted using paper ballots for elections the last time she was a presidential candidate, but since then, Democrats and the Biden administration have largely pushed back against election integrity laws that Republicans have promoted.
Five years ago, Harris was part of a bipartisan effort to encourage the use of paper ballots. However, since the 2020 presidential election, Democrats have called Republicans “election deniers” for promoting such election integrity measures, and the Biden administration is focusing on suing states with election integrity laws.
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The Biden administration announced Monday that it is sending billions of dollars across the country to advance climate change-related projects.
The Environmental Protection Agency (EPA) said Monday that it is sending a combined $4.3 billion to help fund 25 applicants build “community-driven” climate projects across 30 states. The projects include electric vehicle (EV) charging station construction, funds to help local governments expedite green energy siting and programs to enhance heat pump adoption.
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A federal appeals court ordered a judge on Thursday to reconsider blocking a Biden administration rule that allows environmental, social and governance (ESG) investing in employee retirement plans following a landmark Supreme Court ruling.
The Fifth Circuit Court of Appeals ruled that a Texas judge must reconsider a decision upholding a Department of Labor rule, which took effect in February 2023 and allows retirement plans to consider factors like racial justice and climate change when investing to break ties in options of equal quality. The appellate court sent back the ruling because it relied on a legal doctrine called Chevron deference, which the Supreme Court overturned in June.
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Ford is reversing course on plans to manufacture electric vehicles (EVs) at a major plant and instead will produce gas-powered, heavy-duty pickup trucks at the facility, Reuters reported Thursday.
The company initially planned to build three-row electric SUVs at its facility in Oakville, Canada, between 2025 and 2027, but the plant will now add capacity to produce 100,000 F-Series Super Duty trucks at the plant, according to Reuters. Ford said that it is still committed to producing those EVs on that timeline, though it is unclear which of its plants will handle that production.
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Amtrak, the national passenger railroad company of the U.S., continues to have routine breakdowns despite receiving massive injections of taxpayer dollars from the Biden administration, according to data from the Department of Transportation (DOT).
Since 2021, there have been 333 Amtrak train incidents reported nationwide as of July 9, 2024, slightly less than the 397 incidents that occurred between 2016 and July 2020 during former President Trump’s tenure, according to the DOT. The Biden administration, as a part of an announced $66 billion for passenger rail in the Bipartisan Infrastructure Act, has dedicated huge amounts of taxpayer cash to Amtrak, including $4 billion being given to the rail company near the end of 2022, according to the White House.
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Republican Texas Sen. Ted Cruz introduced a new bill to nix the Biden administration’s protections for a lizard species that critics argue will restrict oil and gas development.
Cruz unveiled his Congressional Review Act (CRA) bill to walk back the Biden administration’s decision to protect the Dunes Sagebrush Lizard, a species that is indigenous to parts of New Mexico and western Texas, under the Endangered Species Act (ESA). Cruz and other critics of the designation have asserted that the lizard’s protections are more likely intended to complicate oil and gas development in the Permian Basin, an oil- and gas-rich region of western Texas and New Mexico.
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Offshore wind is likely to miss the Biden administration’s 2030 target for the industry despite receiving billions of dollars of subsidies, according to a Tuesday American Clean Power Association (ACP) report.
The administration has a stated goal of having the offshore wind industry provide 30 gigawatts (GW) of power by 2030, but the ACP report projects that capacity will only reach about 14 GW by then. The Biden administration has subsidized the industry to the tune of billions of dollars since assuming office in 2021, but those efforts appear unlikely to put the 2030 target in reach until at least 2033, per ACP’s analysis.
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