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WASHINGTON (AP) — Senate Majority Leader Chuck Schumer and 22 other Democratic senators are urging federal regulators to investigate multibillion-dollar acquisitions by oil giants ExxonMobil and Chevron, saying the deals could lead to higher prices at the gas pump. “These deals are likely to harm competition, risking increased consumer prices and reduced output throughout the United States,'' the senators wrote. Chevron, Exxon and other oil companies have announced huge profits from strong energy prices and demand since Russia’s invasion of Ukraine in February 2022. Exxon reported $9.1 billion in profits in the quarter that ended Sept. 30, while Chevron reported $6.5 billion in profits. Environmental groups hailed the call for an investigation of what some called “merger mania” within the oil industry that threatens competition.

Persons: Chuck Schumer, Exxon's, Chevron’s, Minnesota Sen, Amy Klobuchar, Elizabeth Warren of Massachusetts, Bernie Sanders, Chevron, Hess, Lukas Ross, ”, ” API's Bethany Williams, Schumer Organizations: WASHINGTON, ExxonMobil, Chevron, Federal Trade Commission, Natural Resources, Hess Corp, Exxon, FTC, Resources, Big Oil, American Petroleum Institute, Senate Commerce, Science, Transportation Locations: United States, Minnesota, Sens, Vermont, Ukraine, Texas, U.S, New York

☆ Chuck Schumer and Elizabeth Warren want FTC to probe blockbuster Exxon, Chevron mergers
▼ + stars: | 2023-11-01 | by ( Matt Egan | ) edition.cnn.com time to read: +3 min

New York CNN —Senate Majority Leader Chuck Schumer, Sen. Elizabeth Warren and nearly two dozen other Democrats are demanding federal regulators probe the mega takeovers inked last month by ExxonMobil and Chevron. Exxon, already America’s biggest oil company, reached a deal in October to buy rival Pioneer Natural Resources for $60 billion. In the letter, the Senate Democrats argue past mergers that helped create Exxon and Chevron “enabled anticompetitive coordination” that hurt consumers by limiting supply of oil. “The oil-and-gas industry is still dominated by a handful of corporate giants, led by the top-two players Exxon and Chevron. The Senate Democrats note that Pioneer owns more drilling acreage than any other Permian producer and Exxon is also a top producer there.

Persons: Chuck Schumer, Sen, Elizabeth Warren, Hess, Schumer, Sens, Bernie Sanders, Amy Klobuchar, Exxon, White, Michael Kikukawa, ” Organizations: New, New York CNN, ExxonMobil, Chevron, Federal Trade Commission, Oil, Exxon, Natural Resources, FTC, Democrats, CNN Locations: New York, Chevron, Warren

The winner of the lucrative contract will then have an option to build three more nuclear reactors in the country. Last year, the Czech government excluded Russia’s energy giant Rosatom and China’s CNG from the tender process on security grounds. Political Cartoons View All 1227 ImagesPrime Minister Petr Fiala said Russian participation in the project, which is critical for the Czech Republic's energy security, was “unimaginable” following the Kremlin’s invasion of Ukraine. The Czech Republic already relies on six nuclear reactors to generate more than a third of its total electricity. In a separate deal, CEZ had signed a deal with U.S. energy giant Westinghouse Electric Co. to supply nuclear fuel for the Dukovany nuclear plant, eliminating dependence on Russia for such fuel.

Persons: Korea’s, CEZ, Petr Fiala Organizations: U.S, Westinghouse, France’s EdF, Union, Westinghouse Electric Co Locations: PRAGUE, Czech, Ukraine, Czech Republic, Dukovany, Austria, Germany, Central Europe, Slovakia, Hungary, Poland, Russia

☆ Ford says US fuel economy plan would cause automaker 'economic hardship'
▼ + stars: | 2023-10-18 | by ( David Shepardson | ) www.reuters.com time to read: +3 min

WASHINGTON, Oct 18 (Reuters) - Ford Motor Co (F.N) said on Wednesday a proposal by President Joe Biden's administration to hike vehicle fuel economy standards through 2032 threatens to cause "substantial economic hardship" for the No. The agency made the proposal as Biden's administration seeks to cut greenhouse gas emissions to combat climate change and to reduce fuel use. The proposal would result in a fleet-wide average fuel efficiency of 58 miles (93 km) per gallon. "We see substantial risk of unprecedented civil penalties in the CAFE program," Ford said. It added that its proposal "is focused on saving Americans money at the gas pump and strengthening American energy independence."

Persons: Joe Biden's, Ford, Tesla, David Shepardson, Will Dunham Organizations: Ford Motor, NHTSA, American Automotive Policy Council, Detroit Three, Ford, General Motors, Chrysler, U.S, Reuters, Thomson Locations: U.S

☆ Tesla urges US to adopt much tougher fuel efficiency rules
▼ + stars: | 2023-10-17 | by ( David Shepardson | ) www.reuters.com time to read: +2 min

REUTERS/Victoria Klesty/File Photo Acquire Licensing RightsWASHINGTON, Oct 17 (Reuters) - Electric vehicle manufacturer Tesla (TSLA.O) on Tuesday urged the Biden administration to finalize much tougher fuel economy standards through 2032 than U.S. regulators have proposed. The National Highway Traffic Safety Administration (NHTSA) in July proposed raising Corporate Average Fuel Economy (CAFE) car requirements by 2% and by 4% for trucks and SUVs annually between 2027 and 2032. The NHTSA's proposal would result in a fleet-wide average fuel efficiency of 58 miles (93 km) per gallon by 2032. On Monday a group representing General Motors (GM.N), Toyota Motor (7203.T), Volkswagen (VOWG_p.DE) and nearly all other major automakers sharply criticized NHTSA's proposal, saying it is unreasonable and requested significant revisions. U.S. automakers separately have warned the fines would cost GM $6.5 billion, Stellantis $3.1 billion and Ford $1 billion, citing NHTSA's projections.

Persons: Biden, Tesla, David Shepardson, Jason Neely Organizations: REUTERS, Rights, Traffic Safety Administration, General Motors, Toyota, Volkswagen, American Automotive Policy Council, Detroit Three, NHTSA, Ford, GM, Chrysler, Alliance, Automotive Innovation, U.S, Energy, Thomson Locations: Oslo, Norway, Victoria, NHTSA's

[1/2] Pylons of high-tension electricity power lines are seen at the Olkaria II Geothermal power plant near the Rift Valley town of Naivasha, Kenya February 15, 2018. REUTERS/Thomas Mukoya/File Photo Acquire Licensing RightsLITTLETON, Colorado, Oct 5 (Reuters) - Kenya, currently the eighth largest geothermal power user, has more geothermal power capacity under construction than any other country, and plans to nearly double overall geothermal power output by 2030 as part of ambitious green energy goals. Once current projects are completed, Kenya will rank fourth on the global list of geothermal users behind the United States, Indonesia and The Philippines, and aims to generate over half of the country's electricity from geothermal sites, data from Global Energy Monitor shows. Map of global geothermal power facilitiesHowever, in areas where there is active tectonic plate movement and the Earth's heat can be tapped at relatively shallow depths, geothermal facilities can be a cost effective means to generate abundant clean power. WIDENING REACHRelatively easy access to geothermal sources has motivated Kenya to become a global leader in geothermal site development, and the country has boosted geothermal capacity by 375% from 2010 to 2022, more than any other major geothermal producer, data from think tank Ember shows.

Persons: Thomas Mukoya, Peketsa, Gavin Maguire, Diane Craft Organizations: REUTERS, Global Energy Monitor, Kenya Electricity Generating, International Monetary Fund, United Nations Environment Program, Reuters, Thomson Locations: Naivasha, Kenya, LITTLETON , Colorado, United States, Indonesia, The Philippines, Africa, Ethiopia, Djibouti, East, Eastern Africa

The five-year plan includes proposed sales in the Gulf of Mexico — the nation’s primary offshore source of oil and gas — in 2025, 2027 and 2029. The three lease sales are the minimum number the Democratic administration could legally offer if it wants to continue expanding offshore wind development. The lease program will guard against environmental damage caused by oil and gas drilling and other adverse impacts to coastal communities, Haaland said. “The (oil leasing) program is definitely informed by the IRA and the connection that the IRA makes between offshore oil and gas leasing and renewable energy leasing,” he said Thursday, referring to the Inflation Reduction Act. The Interior Department can’t sell the rights to drill for oil and gas offshore without first publishing a schedule that outlines its plans.

Persons: Joe Biden's, Biden, Democratic Sen, Joe Manchin, Manchin, Harris, Deb Haaland, ”, Haaland, “, Biden's, Ryan Lance, Willow, Dyani Chapman, Tommy Beaudreau, Interior Department can’t, Rene Santos, Santos, Beth Lowell, Abigail Dillen, Sen, Dan Sullivan, ___ Brown, Becky Bohrer Organizations: WASHINGTON, Democratic, Biden, Interior Department, Interior Department’s, of Ocean Energy Management, drillers, BP, ExxonMobil, ConocoPhillips, Alaska Environment, Interior, P, Gulf, American Petroleum Institute, Chevron, Associated Press Locations: Gulf of Mexico, Alaska, Gulf, Mexico, West Virginia, Chevron, Brazil, Guyana, Louisiana, Oceana, Gulf Coast, Billings, Mont, Juneau , Alaska

WASHINGTON (AP) — Efforts by the Biden administration to limit pollution from automobile tailpipes — a major source of planet-warming emissions — face a crucial test as legal challenges brought by Republican-led states head to a federal appeals court. The U.S. Court of Appeals for the District of Columbia Circuit will hear arguments Thursday and Friday on three cases challenging Biden administration rules targeting cars and trucks. The cases before the appeals court will test a 2021 Environmental Protection Agency rule that strengthened tailpipe pollution limits and a 2022 EPA decision that restored California’s authority to set its own tailpipe pollution standards for cars and SUVs. The court cases come as the Biden administration pushes the auto industry to quickly adopt electric vehicles as part of its climate agenda. “Far from doing something unexpected or novel'' in the tailpipe pollution rule, "EPA merely tightened existing standards,'' Kim wrote.

Persons: Biden, Ken Paxton, Joe, ”, Paxton, Dave Yost, Peter Zalzal, ″, Pete Huffman, Todd Kim, “, Kim, Zalzal Organizations: WASHINGTON, Republican, U.S, Appeals, District of Columbia, Biden, Transportation, Supreme, Environmental, Agency, EPA, National Highway Transportation Safety Administration, Texas, GOP, Texas Senate, Environmental Defense Fund, Natural Resources Defense Council, NHTSA, Justice Department's, Natural Resources, General Motors, Ford, GM, Alliance, Automotive Innovation, EV, Auto Innovators, Department, EDF Locations: U.S, California, Russia, Ukraine, Texas, Ohio, West Virginia

☆ Gas markets are becoming 'extremely difficult' to predict. It's a big problem for Europe this winter
▼ + stars: | 2023-09-12 | by ( Sam Meredith | ) www.cnbc.com time to read: +5 min

Aerial view of the LNG storage and vaporization vessel "Höegh Esperanza" at the Wilhelmshaven LNG terminal. European gas markets have been constantly fluctuating in recent months, owing to extreme heat, maintenance at gas plants and, most recently, industrial action at major liquefied natural gas (LNG) facilities in Australia. "Gas markets are becoming riskier — gas and LNG prices are increasingly volatile and greatly affected by global factors," Jaller-Makarewicz said. The EU reached its target of filling gas storage facilities to a 90% capacity roughly 2 1/2 months ahead of its Nov. 1 deadline. It means that we've got a pretty good buffer," Malek said, referring to Europe's filling of its gas storage facilities.

Persons: Ana Maria Jaller, seesaw, Makarewicz, Christyan Malek, Malek, CNBC's, we've, Filippo Monteforte Organizations: Getty Images Energy, Workers, LNG, Makarewicz Energy, Institute for Energy Economics, Gas, EU, Gas Infrastructure, International Energy Agency, European Union, Eurasia Group, JPMorgan, Afp, Getty Locations: Wilhelmshaven, Australia, Western Australia, Japan, China, South Korea, Asia, Europe, U.S, skyrocketing, Gas Infrastructure Europe, wean, Ukraine, Eurasia, Tuscany

☆ JPMorgan says the biggest risk of de-dollarization isn't a rival currency — it's that the US could lose a key tool it's used to fight past economic crises
▼ + stars: | 2023-09-05 | by ( Filip De Mott | ) www.businessinsider.com time to read: +3 min

The biggest risk of de-dollarization is that the US could lose a key tool it's used to fight past crises, JPMorgan said. De-dollarization risks mostly relate to inflation and debt burdens, strategists said. Get the inside scoop on today’s biggest stories in business, from Wall Street to Silicon Valley — delivered daily. Instead, the key de-dollarization risk that Western economies face is mostly related to inflation and their debt burdens, they explained. Bu while JPMorgan expects "marginal de-dollarization," to take place, the pace is not expected to be rapid.

Persons: —, Marko Kolanovic, dollarization Organizations: JPMorgan, Service, West, AA, AAA Locations: Western, Wall, Silicon, East, Ukraine

☆ Chris Christie thinks Trump isn't showing up to the GOP debates because he's scared of him
▼ + stars: | 2023-08-22 | by ( Sonam Sheth | Brent D. Griffiths | ) www.businessinsider.com time to read: +2 min

Chris Christie thinks Trump is skipping the GOP primary debates because he's scared of him. Trump is averaging 52.5% support in the 2024 Republican primary, according to FiveThirtyEight. The former president is currently averaging 52.5% support in the Republican primary, per FiveThirtyEight's weighted average. On Sunday night, Trump made it clear he will not be attending the first GOP primary debate in Milwaukee on Wednesday. "Christie, he's eating right now, he can't be bothered," Trump recently said at a New Hampshire rally.

Persons: Chris Christie, Trump, FiveThirtyEight, Christie, Donald Trump, Tucker Carlson, Joe Biden, he's Organizations: Republican, Service, Politico, Fox News, CBS, Energy Independence, Military, New, Trump Locations: Wall, Silicon, New Jersey, Milwaukee, New Hampshire

☆ Biden administration puts the final nail in the coffin for incandescent light bulbs
▼ + stars: | 2023-08-02 | by ( Catherine Clifford | In Catclifford | ) www.cnbc.com time to read: +4 min

On Tuesday, the Biden administration put the final nail in the coffin for incandescent light bulbs, the result of a decade-plus-long legislative path. A rule requiring the minimum standard efficiency of 45 lumens per watt for light bulbs effectively bans halogen and incandescent bulbs. Not all light bulbs are included in the ban. Exceptions include a whole slew of specific light bulb implications, including appliance lamps, black light lamps, bug lamps, colored lamps, general service fluorescent lamps, marine lamps, marine signal service lamps, mine service lamps, sliver bowl lamps, showcase lamps, and traffic signal lamp, to name a few. Also, while the 45 lumens per watt energy efficiency standard was being phased in, in December the Biden administration kickstarted the process to consider increasing the energy efficiency standard for light bulbs to over 120 lumens per watt for the most common bulbs.

Persons: Biden, Trump, Jennifer Granholm Organizations: Energy Independence, Security, Department of Energy, DOE, Energy, CNBC

☆ Republicans struggle to diverge from Bidenomics
▼ + stars: | 2023-08-01 | by ( Ben Winck | ) www.reuters.com time to read: +4 min

Florida Governor and Republican U.S. presidential candidate Ron DeSantis attends a barbecue hosted by former diplomat Scott Brown, as part of his "No B.S. WASHINGTON, Aug 1 (Reuters Breakingviews) - Republicans with ambitions to move into the White House have a love-hate relationship with Bidenomics. A continued push for true “energy independence” probably would look more like Biden’s strategy than anything else. The agenda includes 10 core tenets, including greater independence from China, energy independence and promoting domestic investment. He called for “aggressive new restrictions” on Chinese ownership of U.S. infrastructure in a Jan. 18 campaign video and emphasized domestic energy independence in a Feb. 9 video.

Persons: Ron DeSantis, Scott Brown, Bidenomics, Donald Trump, Joe Biden’s, DeSantis, “, Biden, Trump, ”, Jeffrey Goldfarb, Sharon Lam Organizations: Republican U.S, Reuters, Economic, Federal Reserve, Trump, Energy Information Administration, “, Florida, Former U.S, Thomson Locations: Florida, Rye , New Hampshire, U.S, WASHINGTON, ”, Ukraine, Beijing, China, Bidenomics, New Hampshire

☆ Construction to Break German Dependence on Russian Gas Hits a Snag: Wartime Bombs
▼ + stars: | 2023-08-01 | by ( Catie Edmondson | More About Catie Edmondson | ) www.nytimes.com time to read: +1 min

In the wake of the war in Ukraine, the port at Wilhelmshaven has emerged as a critical hub for German efforts to break the country’s dependence on Russian energy. It is there, on the North Sea coast, that officials would like to build a giant new terminal to import liquefied natural gas from other sources. There is just one problem that has slowed the plans: the construction site is littered with bombs from previous wars. Residents are frequently evacuated — sometimes by the thousands — when unexploded munitions are discovered at construction sites and need to be defused. As Germany tries to shore up its energy independence, unexploded wartime munitions have set back the construction of new wind farms and natural gas terminals alike.

Locations: Ukraine, Wilhelmshaven, Germany

☆ Britain angers climate campaigners after committing to issue hundreds of new oil and gas licenses
▼ + stars: | 2023-07-31 | by ( Anmar Frangoul | ) www.cnbc.com time to read: +1 min

"Now more than ever, it's vital that we bolster our energy security," U.K. Prime Minister Rishi Sunak said Monday. The U.K. government on Monday provoked outrage from environmental groups after it confirmed plans to grant hundreds of new oil and gas licenses for the North Sea. "Now more than ever, it's vital that we bolster our energy security and capitalise on that independence to deliver more affordable, clean energy to British homes and businesses," Prime Minister Rishi Sunak said in a statement. "Even when we've reached net zero in 2050, a quarter of our energy needs will come from oil and gas," he added. "But there are those who would rather that it come from hostile states than from the supplies we have here at home."

Persons: Rishi Sunak, It's, we've Organizations: Humber Locations: Ukraine, Scotland, England

☆ Trailing Trump, DeSantis Unveils Economic Plan Slamming ‘Failed Elites’
▼ + stars: | 2023-07-31 | by ( Nicholas Nehamas | More About Nicholas Nehamas | ) www.nytimes.com time to read: +2 min

And his proposals to further reduce America’s economic links with China echo the plans of an emerging populist wing of Republican candidates, including Mr. Trump. Mr. DeSantis has already reshaped the tactics of his campaign in the past week, opening himself up to more questions from voters and the media; holding smaller, less formal events; and condensing his lengthy stump speech. Mr. DeSantis has already unveiled proposals on immigration and the military. But Mr. DeSantis, who prides himself as a policy expert, has a tendency to delve deep into details and to use a sometimes bewildering series of acronyms in his stump speeches. His allies say that getting into kitchen-table issues like the economy is a necessary shift.

Persons: DeSantis’s, Trump, DeSantis Organizations: Republican Locations: China, Florida

☆ House Speaker Kevin McCarthy on U.S. economy: Biden has made us less competitive
▼ + stars: | 2023-06-27 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHouse Speaker Kevin McCarthy on U.S. economy: Biden has made us less competitiveHouse Speaker Kevin McCarthy (R-Calif.) joins 'Squawk Box' to discuss the state of the U.S. economy, energy independence, Vladimir Putin, and more.

Persons: Kevin McCarthy, Biden, Vladimir Putin Organizations: Email Locations: U.S

☆ Presidential Candidate Nikki Haley: Energy independence is key to national security
▼ + stars: | 2023-06-12 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailPresidential Candidate Nikki Haley: Energy independence is key to national securityFormer South Carolina Governor and Republican Presidential Candidate Nikki Haley joins 'Last Call' to lay out her plan for energy independence.

Persons: Nikki Haley Organizations: Energy, Former South Carolina Governor, Republican

☆ These are the 6 best long-term investing opportunities right now, according to a global portfolio management head at Goldman Sachs
▼ + stars: | 2023-05-18 | by ( James Faris | ) www.businessinsider.com time to read: +8 min

Investors should take a long-term view of the market, according to Luke Barrs of Goldman Sachs Asset Management. A long-term focus keeps Barrs level-headed when faced with a constant barrage of concerns that leads some to panic-sell. 6 places to put your money right nowAfter breaking down his investing philosophy, Barrs shared six investments he likes right now. Going forward, emerging markets stocks should benefit from a weaker US dollar, stronger earnings, and China's continued economic reopening, which is leading to a tourism boom. Within emerging markets, Barrs especially likes India.

☆ Fact Check-Five Donald Trump statements examined after CNN town hall
▼ + stars: | 2023-05-11 | by ( Reuters Fact Check | ) www.reuters.com time to read: +6 min

Former U.S. President Donald Trump took questions from CNN’s Kaitlan Collins and audience members during a televised town hall on Wednesday, with the 2024 Republican front-runner pressing for a second White House term. Trump received 74.2 million votes in the 2020 presidential election, surpassing former President Barack Obama’s record number of votes for an incumbent candidate. State governments, courts and members of Trump’s administration have repeatedly rejected claims made by the former president that the 2020 election was stolen (here). CLAIM“We were energy independent” during the Trump administration. For more details on the U.S. border wall during the Trump administration, see (here).

☆ Fact-checking Trump’s CNN town hall in New Hampshire
▼ + stars: | 2023-05-10 | by ( Cnn Staff | ) edition.cnn.com time to read: +26 min

CNN —CNN hosted a town hall with 2024 Republican presidential candidate and former President Donald Trump on Wednesday night in New Hampshire. 2020 ElectionJust minutes after the town hall began, Trump claimed the 2020 election was “rigged.”Facts First: This is Trump’s regular lie. Trump claimed Wednesday that he got gas prices down to $1.87 – and “even lower” – but they increased to $7, $8 or even $9 under Biden. The Presidential Records Act says that the moment a president leaves office, the National Archives and Records Administration gets legal custody and control of all presidential records from his administration. First, there’s no provision for negotiating over Presidential records at the end of a term.

WASHINGTON, May 3 (Reuters) - The U.S. Senate on Wednesday voted to repeal President Joe Biden's suspension of tariffs on solar panels from four Southeast Asian nations, a measure aimed at supporting the small domestic manufacturing industry. Biden has vowed to veto the legislation, which passed the House of Representatives last week. The House resolution that passed the Senate was introduced under the Congressional Review Act (CRA), a law that allows Congress to reverse federal agency rules. Top clean energy trade groups had called on members of Congress to oppose the measure. The Solar Energy Industries Association projected that its passage would result in cancellation of 14% of the industry's planned new capacity this year and the loss of $4.2 billion in investment.

☆ The UK and Germany have very different ideas about the future of nuclear energy
▼ + stars: | 2023-05-02 | by ( Joumanna Bercetche | ) www.cnbc.com time to read: +1 min

As the price of oil increased, energy independence became a priority, and Germany started commissioning more nuclear reactors. It took the nuclear disasters in Chernobyl in 1986, which was then part of the Soviet Union, and Fukushima, Japan, in 2011 to shift German public opinion against nuclear energy. Germany's decision to end its reliance on nuclear energy made it reliant on Russian pipeline gas. The UK's first nuclear power station was built in the 1950s, but it was Prime Minister Margaret Thatcher who, in the 1980s, proposed constructing a nuclear power station every year for a decade as part of the country's industrial strategy. A study by market research firm YouGov in 2022 showed that almost half of Britons back the use of nuclear energy, compared with 31% who are opposed.

If he wins, he will face off against Biden again in the November 2024 election. The poll showed that a majority of registered voters don't want either Biden or Trump to run again. U.S. President Joe Biden delivers remarks at North America's Building Trades Unions Legislative Conference at the Washington Hilton, in Washington, April 25, 2023. Biden ran a mostly virtual campaign to defeat Trump in the 2020 election as COVID raged. After losing to Biden in 2020, Trump refused to concede defeat, falsely claiming that there had been widespread electoral fraud.

☆ UK, Netherlands plan cross-border power link to boost energy security
▼ + stars: | 2023-04-23 | by ( ) www.reuters.com time to read: +2 min

BRUSSELS, April 24 (Reuters) - The Netherlands and Britain plan to build what would be Europe's biggest cross-border electricity link connected to an offshore wind farm, their energy ministers said on Monday, part of efforts to boost energy security. "This new connection further boosts energy security and energy independence in Europe," Dutch Energy Minister Rob Jetten said in a statement. Britain and the Netherlands currently have one power interconnector, the 1GW BritNed link. The countries' leaders will commit to rapidly building wind farms and developing energy "islands", or connected offshore green power generation sites, according to a draft of their summit declaration seen by Reuters. The countries, which also include Germany, France and Norway, aim to develop a combined 120 GW of offshore wind capacity by 2030, the draft said.

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