DIRS.INFO The most relevant business & tech news

☆ The US is under pressure to lead the way in reducing plastic pollution — but it keeps making more of it
▼ + stars: | 2024-04-25 | by ( Catherine Boudreau | ) www.businessinsider.com time to read: +6 min

World leaders are gathering in Ottawa, Ontario, this week to hash out a global treaty to end plastic pollution. This story is available exclusively to Business Insider subscribers. AdvertisementHundreds of businesses and countries support cutting plastic production. Lin represents the Business Coalition for a Global Plastics Treaty, which includes more than 200 companies. Cutting plastic production would also hit the bottom line of oil majors such as Exxon.

Persons: Carroll Muffett, Jose Fernandez, Biden, Allison Lin, Lin, Stewart Harris, Harris, Neil Nathan, Nathan, He's Organizations: Service, Business, Center for International Environmental Law, Organization for Economic Co, Lawrence Berkeley National Laboratory, State Department, Mars Inc, Business Coalition, Global Plastics, Walmart, PepsiCo, International Council of Chemical Association, Oxford Economics, Exxon, The International Energy Agency, UC Santa Barbara, US Locations: Ottawa , Ontario, Russia, Iran, Saudi Arabia, Washington, DC, Paris, Ottawa, Belgium

☆ America's Plastic Catastrophe: Most Waste Can't Be Recycled
▼ + stars: | 2024-04-24 | by ( Taylor Dorrell | ) www.businessinsider.com time to read: +14 min

It's an urgent question — what do we do with the 40 million tons of plastic waste we produce annually? One year of plastic waste is roughly enough to smother the entirety of Manhattan a meter deep, and it has to go somewhere. For decades, America sent its plastic waste to countries like China and Indonesia. Unlike aluminum or glass, the plastic that can be recycled rarely results in replacing one recycled water bottle with another. By downcycling a tiny portion of plastic waste, companies can genuinely reuse a relatively small share of plastic, while convincing consumers that the industry has created a circular economy of infinitely recycled plastic.

Persons: Kartik Byma, they're, Tim Miller, Susan Freinkel, Nestlé, Lea Suzuki, Larry Thomas, what's, Taylor Dorrell, Biden, that's, Taylor, Miller, Kelley Sayre, Vicky Abou, it's, Mike Bloomberg, Bloomberg, Espen Barth Eide, Norway's, Abou, It's Organizations: Getty, America, Chevron, Exxon, Paper Stock, Plastics Industry Association, Organization for Economic Co, San Francisco, NPR, International Energy Agency, ExxonMobil, Alterra Energy, National Renewable Energy Laboratory, Royal Paper Stock, Akron, Buckeye Environmental, Business, Eastman Chemical Co, American Chemistry Council, New, Beyond Plastics, UN, Buckeye Environmental Network Locations: America, Manhattan, China, Thailand, Malaysia, Indonesia, AFP, Ohio, American, San Francisco, Akron, Taylor Dorrell Akron , Ohio, United States, Oregon, New York City

☆ Environmental Protection Agency Limits Pollution From Chemical Plants
▼ + stars: | 2024-04-09 | by ( Lisa Friedman | ) www.nytimes.com time to read: 1 min

More than 200 chemical plants across the country will be required to curb the toxic pollutants they release into the air under a regulation announced by the Biden administration on Tuesday. The regulation is aimed at reducing the risk of cancer for people living near industrial sites. This is the first time in nearly two decades that the government has tightened limits on pollution from chemical plants. The new rule, from the Environmental Protection Agency, specifically targets ethylene oxide, which is used to sterilize medical devices, and chloroprene, which is used to make rubber in footwear. They are considered a top health concern in an area of Louisiana so dense with petrochemical and refinery plants that it is known as Cancer Alley.

Persons: Biden Organizations: Environmental Protection Agency Locations: Louisiana

There are more heavily trafficked routes across the Baltimore Harbor than the Francis Scott Key Bridge. The Harbor Tunnel carries double the daily traffic of the Key Bridge and the Fort McHenry Tunnel much more than that. The six men who are missing were part of this tradition of working Baltimore: members of a construction crew, working overnight hours filling potholes on the bridge. One day in 1977, Mr. Metzger said, his father, a truck driver, was coming back home from his route and happened upon the bridge’s ribbon cutting. And the Key Bridge is gone.”

Persons: Francis Scott Key, “, ”, Kurt L, Mr, Schmoke, Rafael Alvarez, Dali, Jim Lo Scalzo, Curtis Bay, Alvarez, Baltimoreans, James Metzger, Metzger, Metzger’s Organizations: Fort, University of Baltimore, Chesapeake, Washington , D.C, Bethlehem Steel Plant, Amazon Locations: Baltimore, Fort McHenry, Baltimore’s, Maryland, Washington ,, New York City, Shutterstock

☆ Storing Renewable Energy, One Balloon at a Time
▼ + stars: | 2024-03-18 | by ( Amos Zeeberg | ) www.nytimes.com time to read: +2 min

The key component of this technology is as unlikely as the remote location: carbon dioxide, the chief cause of global warming. Energy Dome, a start-up based in Milan, runs an energy-storage demonstration plant that helps to address a mismatch in the local electricity market. “In Sardinia during the day, everyone goes to the sea,” Claudio Spadacini, chief executive of Energy Dome, said. Energy Dome uses carbon dioxide held in a huge balloon, the “dome” in the company’s name, as a kind of battery. Companies are developing and marketing varied and creative ways to store renewable energy: liquefying carbon dioxide, de-rusting iron, heating towers filled with sand to temperatures almost hot enough to melt aluminum.

Persons: Clint Eastwood, Claudio Spadacini, “, Jennifer M, Granholm, we’ve, ”, Elaine Hart Organizations: Energy Locations: Sardinia, Ottana, Milan, “, U.S

☆ See how badly your home could be hit by heat, wind, and bad air over the next 30 years
▼ + stars: | 2024-03-13 | by ( Dan Latu | Catherine Boudreau | ) www.businessinsider.com time to read: +5 min

Realtor.com has unveiled a set of climate risk tools that homeowners and homebuyers alike can use to learn the specific climate risks of a property. The tools, called Heat Factor, Wind Factor, and Air Factor, are available starting Wednesday and can map out a neighborhood's risks of above-normal days on the heat index, chances of experiencing wind gusts over 50 mph, and days of poor air quality. More than 40% of US homes, valued at a combined $20 trillion, are vulnerable to extreme heat, wind, and poor air quality, according to a Realtor.com analysis. Understanding your home's climate riskPrior to releasing the heat, wind, and air quality tools, Realtor.com already provided fire and flood risks for properties based on data from First Street. First Street, a climate-risk firm, is also behind the data on extreme heat, wind, and air quality now added to listings.

Persons: Realtor.com, Oscar Seikaly, Bob Stephens, homebuyers, Danielle Hale, Hale, Z, Redfin, we've Organizations: Service, Factor, Air Factor, Business, San, Sun Locations: Florida , California, Texas, Miami, San Francisco, California, Florida

☆ E.P.A. Sets New Rules to Limit Damage From Disasters at Chemical Facilities
▼ + stars: | 2024-03-01 | by ( Hiroko Tabuchi | ) www.nytimes.com time to read: +1 min

The Biden administration issued new rules on Friday designed to prevent disasters at almost 12,000 chemical plants and other industrial sites nationwide that handle hazardous materials. The regulations for the first time tell facilities to explicitly address disasters, such as storms or floods, that could trigger an accidental release, including threats linked to climate change. For the first time, chemical sites that have had prior accidents will need to undergo an independent audit. And the rules require chemical plants to share more information with neighbors and emergency responders. In 2017, severe flooding from Hurricane Harvey knocked out power at a peroxide plant outside Houston, causing chemicals to overheat and explode, triggering local evacuations.

Persons: ” Janet McCabe, Hurricane Harvey Organizations: Biden, Environmental Protection Agency, Administration Locations: Hurricane, Houston

☆ Texas secessionists are becoming more fervent than ever. But experts say it would mess up its thriving economy.
▼ + stars: | 2024-02-25 | by ( Alia Shoaib | ) www.businessinsider.com time to read: +9 min

Daniel Miller, a sixth-generation Texan, is the de facto face of the modern Texas Nationalist Movement, nicknamed "Texit." But they get a lot of it back: federal dollars account for one-third of the Texas state budget, according to the budget and policy nonprofit Every Texan. "And I think the romance of some general notion of Texas independence wears off pretty fast if people were to start considering it seriously." A Just Russia Party Supports Independent Texas Republic"If necessary, we are ready to help with the independence referendum. The first step for Texas to become independent, the secessionists say, would be a statewide referendum.

Persons: —, Daniel Miller, Miller, Walter Buenger, Eva DeLuna, Noah Sheidlower, Buenger, SCOTUS, James Henson, Dmitry Medvedev, Sergei Mironov, XNlDlW2RmI, James Porrazzo, Henson, there's, Andres Leighton, Greg Abbott's Organizations: Service, Texas Nationalist, Texans, Business, University of Texas, Democrat, Texas, Texas GOP, Critics, White, Union, Texas Politics, Wired, Russia Party Supports Independent, Texas People's, Lone, Texas National Guard, Texas Gov, Texas Legislature, Redfield, Wilton Locations: Texas, Austin, California, La Marque , Texas, , Texas, Russian, Republic, Texas People's Republic, Russia, Mexico, Civil, El Paso , Texas, United States

☆ Analysis: Two years of war has been a disaster for Russia with no end in sight
▼ + stars: | 2024-02-23 | by ( Matthew Chance | ) edition.cnn.com time to read: +5 min

Moscow CNN —Two years ago, when Russia launched its full-scale invasion of Ukraine, I was among the many long-time observers of the Kremlin who got it wrong. Even if the war ends tomorrow, it is likely to take many years for its strength and numbers to recover. And the past two years of brutal war have twisted and distorted Russia internally too. Even President Putin has been indicted for war crimes at the Hague. I was in Chechnya when, in 2000, a newly installed President Putin brought that rebellious Russian region to heel, unleashing a relentless Russian military.

Persons: Vladimir Putin, Joe Biden, Putin, Inna Varenytsia, Reuters Russia’s, toting Wagner, – Alexey Navalny –, Anna Politikovskaya, Anatoli Stepanov, Putin miscalculated, Rather Organizations: Moscow CNN —, Kremlin, Russian, Reuters, Hague, Getty Locations: Moscow, Russia, Ukraine, Washington, Europe, Donetsk, Ukrainian, Chechnya, Russian, Avdiivka, AFP, Georgia, Georgian, Crimea, It’s

☆ Anti-Ukraine rhetoric has saturated right-wing media. Now it is helping to deliver actual war victories to Putin
▼ + stars: | 2024-02-21 | by ( Oliver Darcy | ) edition.cnn.com time to read: +5 min

New York CNN —Vladimir Putin’s information war in U.S. media paid off this weekend with a key victory halfway around the world. A CNN poll conducted last summer found that a staggering 71% of Republicans do not support additional aid to thwart Putin’s war on Ukraine. Kostiantyn Liberov/Libkos/Getty ImagesMuch of the GOP’s softening toward Russia is owed to a near-total reversal in rhetoric from right-wing media personalities and outlets, prompted in large part by Donald Trump’s ascension to power in GOP politics. While the biggest players in right-wing media once fervently championed the foreign policy doctrines of the neo-conservatives, they now follow in the footsteps of Trump and vehemently reject the views once held by the George W. Bush administration. The rhetoric has had a considerable impact on the views of the party, which is now being reflected by its elected leaders.

Persons: Vladimir Putin’s, Putin, Julian E, Barnes, Thomas Gibbons, Neff, Eric Schmitt, CNN’s Nick Paton Walsh, Mike Johnson, Johnson, Mitt Romney, ”, Kostiantyn, Donald Trump’s, Trump, George W, Bush, Tucker Carlson, Carlson, Volodymyr Zelensky, ” Matt Gertz, “ Tucker Carlson, ” “, ” Gertz Organizations: New York CNN, U.S . Congress, Eastern, Congress, GOP, Senate, Republican, Republican Party, CNN, Chemical Plant, Fox News, U.S, Ukraine, Republicans, Media Locations: New York, Washington, Ukraine, Avdiivka, Europe, Russia, Avdiivka district, Moscow, U.S

☆ Russia's air force took control of the skies before seizing victory in a front-line fight, and it could be 'devastating' for Ukraine if it continues, war experts say
▼ + stars: | 2024-02-20 | by ( Chris Panella | Jake Epstein | ) www.businessinsider.com time to read: +8 min

And if it continues or expands, a real possibility as Ukrainian air defenses are under significant stress, it could be "devastating," war experts said. Confirming its retreat from the area, Ukraine said it was saving troops from being fully surrounded by Russian troops. This activity appears to indicate the employment of a combined arms tactic involving having air forces support maneuver elements on the ground. Ukraine's air defenses have largely denied Russia air superiority, preventing its jets and aircraft from conducting significant air campaigns since the beginning of the war. Even "recurring temporary localized and limited Russian air superiority," ISW explained in a recent update, "would likely allow Russian forces to more aggressively pursue operational advances along the frontline."

Persons: —, Vladimir Putin's, George Barros, Barros, Vlada, hasn't, ISW, Kostiantyn, Avdiivka, it's, John Kirby, Kirby, It's, Putin Organizations: Service, Bakhmut, The Institute, Washington DC, Institute for, Armored Infantry, National Security, Chemical Plant, Ukraine Locations: Russian, Russia, Avdiivka, Ukrainian, Donetsk, Moscow, Ukraine, Washington, Avdiivka district, Luhansk, Lastochkino, MLRS

☆ Russia takes Avdiivka from Ukraine, biggest gain in 9 months
▼ + stars: | 2024-02-18 | by ( ) www.cnbc.com time to read: +3 min

A general view of smoke rising from the Avdiivka Coke and Chemical Plant on Feb. 15, 2023 in Avdiivka district, Ukraine. Russia on Sunday said it had full control of the Ukrainian town of Avdiivka after Ukraine withdrew though Moscow said that some Ukrainian troops were still holed up in a vast Soviet-era coke plant after one of the most intense battles of the war. Ukraine said it had withdrawn its soldiers to save troops from being fully surrounded after months of fierce fighting. Putin hailed the fall of Avdiivka as an important victory and congratulated Russian troops. "The head of state congratulated Russian soldiers on this success, an important victory," the Kremlin said in a statement on its website.

Persons: Vladimir Putin, Putin, Volodymyr Zelenskyy, Igor Konashenkov Organizations: Chemical, Russian Defence Ministry Locations: Avdiivka district, Ukraine, Russia, Ukrainian, Avdiivka, Moscow, Soviet, Bakhmut, Russian

CHANNELVIEW, Texas — For nearly 20 years, Texas environmental regulators have kept a disturbing secret. AdvertisementTexas Community Health News; Texas Commission on Environmental Quality"Any exposure to a carcinogen increases your risk of developing cancer. AdvertisementTim Doty, a former TCEQ mobile air monitoring expert, at the industrial edge of River Terrace Park in Channelview, Texas. In fact, the agency rarely fines companies that violate Texas air pollution laws. Mark FelixHoneycutt's toxicology division soon took an even more dramatic step to weaken Texas' benzene guidelines.

Persons: Loren Hopkins, Hopkins, Mark Felix, TCEQ, AirToxScreen, AirToxScreen Harris County Attorney Christian Menefee, Menefee, Tim Doty, Doty, Solv, He'd, Glenn Shankle, Kelly Keel, Todd Riddle, Riddle, Lopez, Joe Lopez, Dora, Joel Lopez, Randy Lopez, It's, Joel, Felix Benzene, wildcatters, Houston —, Forbes, Lorenzo de Zavala, Alison Cohen, Cohen, Tim Doty's, Houston Mayor Bill White, Shankle, Michael Honeycutt, Valerie Meyers, Meyers, Mark Felix Meyers, Richard Hyde, John Sadlier, Ryder, Hyde, hadn't, Russell Allen, Matt Baker, Jacintoport, Cloelle Danforth, Public Health Watch —, Danforth, Mark Felix Honeycutt's, Eric Schaeffer, Schaeffer, Honeycutt, Jim Tarr, polluters, upended, Mark Felix Fracking, Barnett, Glenn Shankle —, —, Rick Perry, Perry, Sadlier, David Bower, misstep, Baker, Bower, Michael Burgess, Greg Abbott, Abbott, Mark Felix Meanwhile, Randy, That's, Carolyn Stone, Stone, Carolyn Stone's, Mark Felix The, Cynthia Benson, Benson, Mark Felix Tim Doty, Mark Felix K, Jordan Gass Organizations: Public Health Watch, Texas Commission, Environmental, American Petroleum Institute, Oceanic, Atmospheric Administration, U.S . Navy, Geospatial - Intelligence Agency, General, Health, Public Health, Rice University, Environmental Protection Agency, Texas Community Health, AirToxScreen Harris County Attorney, polluters, Mark Felix Public Health, TCEQ, Solv, Mark Felix Public Health Watch, myelodysplasia, Houston, Oil, Gas Watch, Texas, Houston Ship, University of California, Houston Mayor, ., . Texas Community Health, NASA, Exxon Mobil, Public, Watch, Environmental Defense Fund, Management, Civil, Air Alliance Houston, Republican, Fort, United, Texas toxicologist, EPA, Texas Tribune, Google, Land Office, . Geological Survey, National Oceanic, Firefighters, U.S . Occupational Safety, Health Administration, Channelview, Improvement Coalition, Health Watch, San Jacinto, K, Texas Legislature, Solv Group, Services Locations: , Texas, Texas, Houston, Channelview's Jacintoport, San Jacinto, California, Jacintoport, Channelview , Texas, AirToxScreen Harris County, Channelview, Harris County, United States, North Channelview, Gulf, Terrace, Joel's, Houston , Texas, Spindletop, Mexico, Republic of Texas, Port of Houston, San Francisco, . Texas, That's, polluters, lacquers, Dallas, Fort Worth, Fort Worth City, Austin, Round, Minnesota, Galveston, U.S

Steam feeding into the Unit 3 turbine generator of the Vogtle nuclear power plant in Waynesboro, Ga. “The United States is now committed to trying to accelerate the deployment of nuclear energy,” John Kerry, President Biden’s climate envoy, said in September. One recent Pew survey found that 57 percent of Americans favor more nuclear plants, up from 43 percent in 2016. A NuScale engineer gave a tour of a control room simulator, modeling the company’s plans for new nuclear reactors, in 2013. “The demand for clean energy is almost unprecedented,” said Maria Korsnick, president of the Nuclear Energy Institute, an industry group.

Persons: Biden, ” John Kerry, Biden’s, “, ”, Jacopo Buongiorno, Jimmy Carter, Rosalyn Carter, Bruce Springsteen, Dan Reicher, Gavin Newsom, Reicher, Clinton, Jeffrey Collins, Arnie Gundersen, John Williams, “ It’s, Patty Durand, Julie Kozeracki, Kendrick Brinson, Jay Wileman, Bill Gates, Dow, Roger Blomquist, NuScale Power, Jose Reyes, Adam Stein, it’s, they’re, Ahmed Abdulla, Robert Taylor, Leah Nash, NuScale, David Schlissel, Joshua Freed, didn’t, Maria Korsnick Organizations: Unit, Republicans, Nuclear Regulatory Commission, Massachusetts Institute of Technology, Associated Press, Madison, Natural Resources Defense, California Gov, Democrat, Associated, Fairewinds Associates, Components, Workers, Georgia, Southern Company, Georgia Power, Georgia Public Service Commission, Energy Department, The New York Times, GE, Hitachi Nuclear Energy, Vogtle . Ontario, Tennessee Valley Authority, Argonne, National Laboratory, Energy, Nuclear Regulatory, NuScale, ”, Breakthrough Institute, Carleton University, Soaring, Institute for Energy Economics, United, Nuclear Energy Institute Locations: U.S, Waynesboro, Ga, Savannah, Georgia, United States, ”, Pennsylvania, Texas, Virginia, Jenkinsville, Vogtle, South Carolina, South, Canada, Tennessee, Argonne, Chicago, Idaho, Wyoming, California, Alaska, Maryland, Pueblo County, Colo

For more than a year, the Environmental Protection Agency investigated whether Louisiana officials discriminated against Black residents by putting them at increased cancer risk. As attorney general, Landry fought the EPA’s investigation. Health officials, for example, wanted the unilateral power to decide if and when they had to do the EPA-proposed analysis. The AP reviewed a draft agreement edited by state health officials and sent to EPA in May, reflecting negotiations at the time. It has not reviewed any draft agreement that would show what Louisiana's environmental agency might have been willing to accept.

Persons: Biden, Eric Schaeffer, it’s, Schaeffer, Republican Jeff Landry, Landry, Deena Tumeh, Tumeh, “, ”, ” Tumeh, Kevin Litten, VI, Sharon, Lavigne, James, Michael Regan, It's, Stacey Sublett Halliday, Beveridge, Diamond, ” Sublett Halliday Organizations: Environmental Protection Agency, The Associated Press, EPA’s, Civil, Louisiana, Republican, EPA, Louisiana Department of Environmental, Louisiana Department of Health, Health, AP, Cancer, Associated Press, Walton Family Foundation Locations: Louisiana, chloroprene, St

SINGAPORE, Oct 31 (Reuters) - At least three Chinese companies including state giant China National Offshore Oil Company (CNOOC) are evaluating Shell's Singapore assets and considering non-binding bids in coming weeks for the city-state's oldest refinery, according to several sources familiar with the matter. CNOOC, the parent of offshore oil and gas major CNOOC Ltd , operates a joint refining-petrochemical complex with Shell in southern China. However, Sinopec Corp's president said in late August it was not interested in the Shell assets. Two of the sources said Shell had set a preliminary Nov. 5 deadline for proposals, although that could be extended. A Wanhua spokesperson said he was not aware of the company's potential interest in the Shell assets.

Persons: Shell, Goldman Sachs, CNOOC, Sinopec, Rongsheng, Eversun, Salmon Lee, Chen Aizhu, Trixie Yap, Tony Munroe, Florence Tan, Kim Coghill Organizations: Offshore Oil Company, Singapore, Reuters, Eversun Holdings, Wanhua, Shell, Hengli Petrochemical, China National Petroleum Corp, Privately, Thomson Locations: SINGAPORE, China, state's, Singapore, Bukom, Jurong, PetroChina, Huizhou, Guangdong, Fujian province, Putian, Shandong province, Asia, Southeast Asia

[1/2] Former mayor of New York Michael Bloomberg speaks during a meeting with Earthshot prize winners and finalists at the Glasgow Science Center during the UN Climate Change Conference (COP26) in Glasgow, Scotland, Britain, November 2, 2021. The $500 million infusion into his decade-long Beyond Carbon initiative aims to "finish the job on coal" by working with state and local organizations to force the closure of the roughly 150 coal plants that have not yet retired, slash current gas generation in half and block the construction of new gas-fired plants. Bloomberg already has spent over $500 million to support the Sierra Club's Beyond Coal campaign, which originally aimed to retire 30% of the U.S. coal fleet by 2020. The money would support litigation brought against utilities and power companies by grassroots groups, state and local policy advocacy and financing to assist local communities with coal plant closures, Bloomberg Philanthropies said. Reporting by Valerie Volcovici; Editing by Katy Daigle and Grant McCoolOur Standards: The Thomson Reuters Trust Principles.

Persons: New York Michael Bloomberg, Alastair Grant, Michael Bloomberg, Bloomberg Philanthropies, U.N, Antonio Guterres, Valerie Volcovici, Katy Daigle, Grant McCool Organizations: New York, Glasgow Science Center, Change, UNITED NATIONS, Former New York City, Bloomberg, Sierra, General Assembly, Thomson Locations: Glasgow, Scotland, Britain, United States, U.S, America

REUTERS/David Gray/File Photo Acquire Licensing RightsLONDON, Sept 14 (Reuters) - Global investment of $2.7 trillion a year is needed to achieve net zero emissions by 2050 and avoid temperatures from rising above 1.5 degrees Celsius this century, a report by consultancy Wood Mackenzie said on Thursday. Many governments have pledged to reduce emissions to net zero by mid-century to help achieve this. However, most countries are not on track to even meet emissions targets by 2030, let alone 2050, the report said. Net zero refers to cutting emissions to as close to zero as possible with any remaining emissions re-absorbed from the atmosphere, by oceans and forests, for example. There will be a natural depletion as low and zero carbon options develop but supply still needs to be replenished as we move towards net zero," said Prakash Sharma, vice president at Wood Mackenzie, and lead author of the report.

Persons: David Gray, Wood Mackenzie, ”, Simon Flowers, Wood, Prakash Sharma, Nina Chestney, Deepa Babington Organizations: REUTERS, United Nations, Renewables, Thomson Locations: Port Botany, Sydney, Australia, 1.5C, Wood Mackenzie

"I will match your offer and commit today to open an office," Saudi Investment Minister Khalid Al Falih said after India's trade minister Piyush Goyal invited Saudi Arabia to set up an office of its sovereign wealth fund, Public Investment Fund (PIF), in GIFT City. Goyal also said he would suggest that his ministry starts an investment promotion office in Riyadh. During the Crown Prince's visit India and Saudi Arabia signed 50 initial pacts in various fields and agreed to form a joint task force for $100 billion in Saudi investment in India, originally announced by the Crown Prince in 2019. Half of the planned $100 billion is earmarked for a delayed refinery project along India's western coast, an Indian foreign ministry official said. He said Saudi Arabia is looking to invest in sectors including oil, gas, petrochemicals, new energy, technology, manufacturing and defence.

Persons: Amit Dave, Narendra Modi, Khalid Al Falih, Piyush Goyal, Prince Mohammed bin Salman's, Goyal, Crown Prince, Falih, Shivangi Acharya, Nidhi Verma, Blassy Boben, Ed Osmond, Susan Fenton Organizations: Gujarat International Finance Tec, REUTERS, Indian, Saudi Investment, Public Investment Fund, Crown, United Arab Emirates, Saudi Aramco, Thomson Locations: Gujarat, Gandhinagar, DELHI, Saudi Arabia, New Delhi, Dubai, Hong Kong, City, Falih, Delhi, Saudi, Riyadh, India, Indian, Maharashtra

☆ Column: US offshore wind sector faces key test after weak Gulf auction
▼ + stars: | 2023-08-30 | by ( Gavin Maguire | Thomson Reuters | Gavin Maguire Is The Global Energy Transition Columnist. He Was Previously Asia Commodities | ) www.reuters.com time to read: +5 min

REUTERS/Brian Snyder/File Photo Acquire Licensing RightsLITTLETON, Colorado, Aug 29 (Reuters) - The low interest in the first-ever auction of offshore wind farm development rights in the Gulf of Mexico marks a potentially serious setback for U.S. President Joe Biden's green energy agenda, and the U.S. offshore wind sector in general. U.S. officials had touted the auction as a key milestone in Biden's agenda to make offshore wind a cornerstone of U.S. efforts to fight fossil-fuel-driven climate change. In addition to lower wind speeds and hurricane risks, potential wind farm developers in the Gulf waters must also accommodate relatively lower local power market prices than other parts of the United States, which greatly undermines wind power earning potential in the region. As offshore wind power systems are still in their relative infancy compared with other power sources, the average cost of power generated from offshore sites can be twice the cost of that from a gas-fired plant. Without a viable offshore wind sector, those industries may now struggle to secure the quantities of green hydrogen they may be anticipating in coming decades, and so could look for ways to support the wind sector's development in the years ahead.

Persons: Brian Snyder, Joe Biden's, Biden, hesitancy, Gavin Maguire, Matthew Lewis Organizations: U.S . Coast Guard, REUTERS, Offshore, U.S ., Gulf, Shell, Reuters, Thomson Locations: Rhode, LITTLETON , Colorado, Gulf, Mexico, U.S, Louisiana, Northeast, Texas, United States, U.S . East Coast , New York, New Jersey, Gulf Coast, Gulf of Mexico, Littleton , Colorado

☆ Racist housing practices left Minneapolis with an extreme heat problem. Now, the city is rushing to reverse the lasting effects of environmental racism.
▼ + stars: | 2023-08-28 | by ( Dearbea Walker | ) www.businessinsider.com time to read: +10 min

The city hopes to rectify its history of environmental racism with a new Climate Equity Plan. It was also the only place Black people were allowed to purchase housing in the city. For all these reasons, previously redlined neighborhoods suffer from extreme heat. After years of outcry from activists, the city council submitted a new draft of a 10-year plan, titled the Minneapolis Climate Equity Plan, soliciting public comments. Earlier this year, Portland passed its 43-Step Climate Action Plan, which has similar objectives to the Minneapolis plan.

Persons: redlining, George Floyd, Kerem Yucel, CAPA, Tee McClenty, John Vachon, Franklin D, Anthony Potter, there's, Ulla Nilsen, it's, Darlene Pfister, Nilsen, Jacob Frey, MN350, " Nilsen, Jerry Holt, McClenty Organizations: Minneapolis, Equity, Service, George Floyd Memorial, Getty, Loan Corporation, District, Roosevelt's, City Hall, Star Tribune, Minneapolis Climate Equity Locations: Minneapolis, Minnesota, Kerem, AFP, homeownership, Negro, Portland , Oregon, Portland

REUTERS/Chris Helgren/File Photo Acquire Licensing RightsSINGAPORE, Aug 23 (Reuters) - Shell is considering a sale of its Singapore refining and petrochemical plants as part of a broader strategic review and has hired investment bank Goldman Sachs to explore a potential deal, said several sources close to the matter. "Our strategic review is ongoing and we are exploring several options including divestment," a Shell spokesperson told Reuters on Wednesday. Companies that are reviewing Shell's Singapore assets include Asia's largest refiner, China's Sinopec (600028.SS), as well as global trading companies Vitol and Trafigura, the sources said. For trading companies, the site is seen as a potential oil storage and distribution hub, some of the sources said. In March, Shell decided not to proceed with two projects it was studying to produce biofuels and base oils in Singapore.

Persons: Chris Helgren, Goldman Sachs, Wael Sawan, China's Sinopec, Shell, Trixie Yap, Chen Aizhu, Florence Tan, Tony Munroe, David Goodman Organizations: Shell, REUTERS, Rights, Reuters, Thomson Locations: Vancouver , British Columbia, Canada, Singapore, Jurong, Asia

☆ Analysis-Lithium buyers eye cheaper early-stage deals in Australia
▼ + stars: | 2023-08-22 | by ( Melanie Burton | Scott Murdoch | ) www.reuters.com time to read: +6 min

So I think there’s going to be some opportunistic acquisitions.”There is already evidence of frenzied deal activity involving pre-producing companies. Develop Global, a base metals explorer backed by diversified miner Mineral Resources, last month proposed to acquire lithium developer Essential Metals for A$152.6 million ($97.98 million). “Even though battery chemistry is evolving and impacting certain metals, lithium is a mainstay and the demand story remains robust. The battery metals landscape, and lithium in particular, looks poised for further M&A activity,” said Gavi Friedland, head of metals and mining at Goldman Sachs in Australia & New Zealand. Mineral Resources is deciding whether to build an Australian lithium battery chemical plant, while Albemarle is expanding production at its Kemerton hydroxide plant and SQM is also building a lithium hydroxide plant.

Persons: Ivan Alvarado, acquirers, ”, Kaan, “, Gavi Friedland, Goldman Sachs, Guy Alexander, Buyers, Japan’s Idemitsu, Delta, Tony Chong, Squire Patton Boggs, Jakob Stausholm, Stausholm, ” Dale Henderson Organizations: MELBOURNE, REUTERS, Chile, Albemarle Corp, RBC, Develop, Mineral Resources, Metals, Minerals, Liontown Resources, Climate Capital, Consultancy, EV, Goldman, New Zealand, Resources, ”, Rio Tinto, Patriot Metals, Canada, Reuters Locations: Albemarle Chile, Chile, Australia, Sydney, Andover, Albemarle, Perth, China, U.S, Rio, Canada, Quebec

[1/2] A general view shows the brine pools of Albemarle Chile lithium plant placed on the Atacama salt flat, Chile, May 4, 2023. "It seems like the cheapest way to get lithium units is via the drill bit," said analyst Kaan Peker of RBC in Sydney. "Even though battery chemistry is evolving and impacting certain metals, lithium is a mainstay and the demand story remains robust. The battery metals landscape, and lithium in particular, looks poised for further M&A activity,” said Gavi Friedland, head of metals and mining at Goldman Sachs in Australia & New Zealand. Mineral Resources is deciding whether to build an Australian lithium battery chemical plant, while Albemarle is expanding production at its Kemerton hydroxide plant and SQM is also building a lithium hydroxide plant.

Persons: Ivan Alvarado, acquirers, Kaan, ”, Gavi Friedland, Goldman Sachs, Guy Alexander, Buyers, Japan's Idemitsu, Delta, Tony Chong, Squire Patton Boggs, Jakob Stausholm, Stausholm, Dale Henderson, Melanie Burton, Veronica Brown Organizations: REUTERS, Chile, Albemarle Corp, RBC, Develop, Mineral Resources, Metals, Minerals, Liontown Resources, Climate Capital, Consultancy, EV, Goldman, New Zealand, Resources, Tinto, Patriot Metals, Canada, Reuters, Thomson Locations: Albemarle Chile, Chile, MELBOURNE, Australia, Sydney, Andover, Albemarle, Perth, China, U.S, Canada, Quebec

☆ New Top Cop at the E.P.A. Aims to Get Enforcement Back on Track
▼ + stars: | 2023-08-17 | by ( Lisa Friedman | More About Lisa Friedman | ) www.nytimes.com time to read: +2 min

And last month, the E.P.A. In his first interview since his July 20 confirmation, Mr. Uhlmann said he was intent on increasing the number of administrative actions as well as the criminal and civil cases that the E.P.A. brings for violations of environmental law. intends to announce enforcement priorities, with a new emphasis on greenhouse gas emissions. The agency said it would focus on making sure that oil and gas wells, landfills and other facilities did not leak methane, a powerful greenhouse gas.

Persons: Uhlmann, ” Organizations: University of Michigan Law School Locations: Louisiana, E.P.A, America, United States

Search resuls for: "Chemical Plant"

25 mentions found