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☆ Oil prices hit 10-month high after Libya flood catastrophe
▼ + stars: | 2023-09-12 | by ( Matt Egan | ) edition.cnn.com time to read: +2 min

US oil prices popped 2.3% to as much as $89.29 a barrel, also the highest level since November. The latest rally for oil prices will continue to push up prices at the pump for consumers and add to inflation across the US economy. Gasoline prices, which lag oil prices, have edged higher this week as a result of that announcement. The EIA also raised its forecast for diesel and oil prices for the fourth quarter of this year and first quarter of next year. If these forecasts hold true, energy prices will continue to complicate central bankers’ efforts to tame inflation.

Persons: Brent, ”, Matt Smith, “, Smith Organizations: New, New York CNN, “, Americas, AAA, Government, US Energy Information Administration, Energy Department, EIA Locations: New York, Libya, “ Libya, Kpler, Russia, Saudi Arabia

GENEVA (AP) — Voters in a southern Swiss region on Sunday rejected a plan to allow large solar parks on their sun-baked Alpine mountainsides as part of the federal government’s push to develop renewable energy sources. The rejection doesn't torpedo solar parks entirely if the private sector wants to develop them. At stake is up to 60% of financing for big solar parks. The federal energy department estimates that about 40 to 50 proposals for large solar parks have been made across the country. Overall, Swiss federal authorities have set a target of 2 billion GWh in new solar energy under legislation promoting development of solar energy, adopted in September 2022.

Persons: “ Organizations: GENEVA, — Voters, Swiss People's Party Locations: Swiss, Valais, Switzerland, Bern Oberland

☆ Incandescent light bulbs are now largely banned, so one fan spent a paycheck stockpiling 3,500 bulbs he said should last 75 years
▼ + stars: | 2023-09-10 | by ( Haley Tenore | ) www.businessinsider.com time to read: +4 min

In August, incandescent bulbs were largely banned in the US and can no longer be sold or made. Ahead of the ban, Kevin Szmyd spent $1,700 on a lifetime supply of incandescent bulbs, about 3,500. Ahead of new regulations going into effect, Szmyd built up a collection of about 3,500 of the light bulbs. On August 1, the manufacture and sale of incandescent light bulbs was effectively banned in the US. Amanda CortinaThe new rules only allow light bulbs that meet a certain level of efficiency.

Persons: Kevin Szmyd, Kevin Szmyd isn't, Szmyd, Trump, Biden, Chad Shapiro, Amanda Cortina, he'd, He's, Kathleen Parker Organizations: The Energy Department, Service, Facebook, Craigslist, eBay, Washington Post, Department of Energy Locations: Wall, Silicon

☆ Oil prices are surging again, but this time Biden has way less ammunition to bring them down
▼ + stars: | 2023-09-09 | by ( Jason Ma | ) www.businessinsider.com time to read: +4 min

Oil prices are surging again, but the Strategic Petroleum Reserve remains near 40-year lows. Last year, the Biden administration drained 180 million barrels from the SPR as oil prices soared. Flooding the market with all that supply helped bring oil prices down — and helped cool inflation, which had shot up as well. But while it has ticked up slightly, the level remains near 40-year lows at about 350 million barrels. The stock market has started to feel the ripple effects from rising oil prices.

Persons: Biden, Brent, Enverus Organizations: Strategic Petroleum Reserve, Service, Biden, Petroleum Reserve Energy Department, Energy Department, Federal Reserve Locations: Wall, Silicon, Ukraine, Saudi Arabia, Russia, Texas , New Mexico, North Dakota

☆ Texas heat wave: US Energy Department declares power emergency
▼ + stars: | 2023-09-08 | by ( Matt Egan | ) edition.cnn.com time to read: +2 min

New York CNN —The US Energy Department has issued an emergency order aimed at keeping the lights on in Texas as the state’s power grid grapples with surging demand amid record-high temperatures. The order, issued Thursday night, could allow Texas power plants to surpass pollution limits through Friday night to meet “abnormally high” demand for electricity. Jennifer Granholm, US secretary of energy, determined in the order that “an emergency exists in Texas due to a shortage of electric energy, a shortage of facilities for the generation of electric energy and other causes.”As the heat wave continues to shatter records across the country, including in Texas, energy demand for things like air conditioning have frequently taxed the state’s delicate power grid with wind and solar energy helping to prop it up. The Electric Reliability Council of Texas, which oversees the electric grid serving 90% of the state’s customers, filed a request for the emergency order Wednesday. ERCOT warned that power outages could become necessary if demand isn’t lowered or additional supply can’t be added.

Persons: Jennifer Granholm, ERCOT, CNN’s Robert Shackelford Organizations: New, New York CNN, US Energy Department, Dallas, Reliability, of Texas, Texans Locations: New York, Texas, Antonio

Biden's Labor Day prediction that the union would not strike against Detroit's automakers ahead of a Sept. 14 contract deadline was soundly rejected by UAW President Shawn Fain. White House Press Secretary Karine Jean-Pierre said Biden's comments about the UAW over Labor Day was him being "an optimistic person." The White House has tried to play a role in several recent large-scale union contract negotiations involving rail workers and West Coast port workers. Trump won Michigan in 2016, helping propel him to the White House; Biden beat him by 154,000 votes in Michigan in 2020. Around half a million more threatened strikes in the first half of 2023, estimates from national labor unions show.

Persons: Joe Biden's, Biden, Biden's, Shawn Fain, Fain, Karine Jean, Pierre, Kate Bronfenbrenner, Donald Trump, Trump, Joe Biden, Joshua Roberts, Harley Shaiken, Shaiken, Nandita Bose, David Shepardson, Joseph White, Heather Timmons, Deepa Babington Organizations: UAW, Biden's Labor, Detroit's, House Press, Labor, General Motors, Ford, carmakers, Anderson Economic, Cornell University's School of Industry & Labor Relations, White House, Wednesday, Workers, Republican, Michigan, State Labor, Metal Workers, Local, REUTERS, University of California, Bureau of Labor Statistics, EV, White, Energy Department, Teamsters, UPS, House, Thomson Locations: Detroit, America, Pennsylvania, Michigan, West Coast, Philadelphia , Pennsylvania, U.S, Berkeley, Michigan , Ohio , Indiana , Illinois, Belvidere , Illinois, Washington

REUTERS/Callaghan O'Hare/File Photo Acquire Licensing RightsWASHINGTON, Aug 31 (Reuters) - The Biden administration is offering $12 billion in grants and loans for automakers and suppliers to retrofit their plants to produce electric and other advanced vehicles, Energy Secretary Jennifer Granholm said on Thursday. "I don't know that this will have an impact on the collective bargaining," Granholm said, adding that the administration has spoken with automakers, auto workers, and communities. The administration will also offer $3.5 billion in funding to domestic battery manufacturers, Granholm said. For the advanced vehicles, $2 billion in grants will come from the Inflation Reduction Act which was passed by Democrats last year, and $10 billion in loans will derive from the Energy Department's Loans Program Office. Reporting by Timothy Gardner in Washington Editing by Bill Berkrot and Matthew LewisOur Standards: The Thomson Reuters Trust Principles.

Persons: Energy Jennifer Granholm, Daniel Yergin, Callaghan O'Hare, Biden, Jennifer Granholm, Granholm, Joe Biden, Shawn Fain, Timothy Gardner, Bill Berkrot, Matthew Lewis Organizations: Energy, P Global, REUTERS, Rights, United Auto Workers, UAW, Detroit Three, Energy Department, Thomson Locations: Houston , Texas, U.S, Michigan, Michigan , Ohio , Illinois, Indiana, Belvidere , Illinois, Washington

☆ US offers $12 billion for automakers, suppliers to make advanced vehicles
▼ + stars: | 2023-08-31 | by ( ) www.reuters.com time to read: +1 min

REUTERS/Callaghan O'Hare/File Photo Acquire Licensing RightsWASHINGTON, Aug 31 (Reuters) - The United States is making $12 billion available in grants and loans for automakers and suppliers to retrofit their plants to produce electric and other advanced vehicles, Energy Secretary Jennifer Granholm told reporters on Thursday. The Biden administration will also offer $3.5 billion in funding to domestic battery manufacturers, Granholm said. For the advanced vehicles, $2 billion of the funding will come from the Inflation Reduction Act which Democrats passed last year, and $10 billion will come from the Energy Department's Loans Program Office, Granholm said. The automaker has left open the possibility that the factory could get a new product with government aid. Reporting by Timothy Gardner in Washington Editing by Matthew LewisOur Standards: The Thomson Reuters Trust Principles.

Persons: Energy Jennifer Granholm, Daniel Yergin, Callaghan O'Hare, Jennifer Granholm, Biden, Granholm, Shawn Fain, Timothy Gardner, Matthew Lewis Organizations: Energy, P Global, REUTERS, Rights, United Auto Workers, UAW, Thomson Locations: Houston , Texas, U.S, United States, Michigan , Ohio , Illinois, Indiana, Belvidere , Illinois, Washington

☆ Drill, Baby, Drill: The Promise of Geothermal Power
▼ + stars: | 2023-08-31 | by ( David Gelles | More About David Gelles | ) www.nytimes.com time to read: +1 min

And much of the research and development needed for the new geothermal technologies is already done, thanks in large part to recent advances by the oil and gas industry — including fracking. At the end of the day, it might be techniques developed by Big Oil that ultimately help make fossil fuels obsolete. Drilling, but not for oilOver the past 20 years, fossil fuel companies have gotten very, very good at drilling. “The thing that made me think that this could be real is the fact that the major costs of these geothermal projects often is drilling,” Brad said. Drilling is something the United States has just gotten incredibly good at.”

Persons: ” Brad, Brad, ” Organizations: U.S . Energy Department, Big Oil Locations: U.S, United States

☆ Energy Dept. Announces $12 Billion to Help Factories Convert to Electric Cars
▼ + stars: | 2023-08-31 | by ( Coral Davenport | More About Coral Davenport | ) www.nytimes.com time to read: +1 min

The Energy Department announced on Thursday that it had made $2 billion in grants and $10 billion in loans available to auto companies to convert existing factories that build gas-powered cars and trucks into plants that produce hybrid and electric vehicles. The money, provided under the 2022 Inflation Reduction Act, is aimed at maintaining jobs in communities that have been defined by the auto industry. It comes as President Biden is seeking the endorsement of the United Auto Workers union, which has expressed concern over recent decisions by carmakers to ramp up electric vehicle manufacturing, which requires fewer workers, and to locate new factories in states without unionized labor. As part of his climate agenda, Mr. Biden is combining federal investments with an aggressive new regulatory proposal to try to ensure that two-thirds of all new cars sold in the United States are all-electric by 2032, up from about 7 percent today. Transportation is responsible for about one-third of the greenhouse gases generated by the United States, pollution that is dangerously heating the planet.

Persons: Biden, Biden’s Organizations: Energy Department, United Auto Workers union, Transportation Locations: United States

☆ US Department of Energy to put $12 billion into electric vehicle manufacturing, following Biden's goal of spurring EV sales
▼ + stars: | 2023-08-31 | by ( Clare Duffy | ) edition.cnn.com time to read: +2 min

New York CNN —The US Department of Energy said Thursday it plans to fuel the auto industry’s transition to electric vehicles with $12 billion in loans and grants. Hard on the heels of President Joe Biden’s goal to spur the sale of EVs in the United States, the Energy Department will provide $2 billion in grants and $10 billion in loans to support the conversion of US automaker and supplier facilities into manufacturing centers for hybrid and electric vehicles. The program aims to build or refurbish factories in communities with existing auto manufacturing facilities and to bolster the domestic EV supply chain. The Energy Department also said it plans to invest a separate $3.5 billion to boost US production of advanced batteries and battery materials to support the country’s transition to electric vehicles and clean energy. It also noted that light duty vehicles, the average cars Americans drive, account for 58% of those emissions.

Persons: Joe Biden’s, Biden, “, Jennifer Granholm, ”, Shawn Fain Organizations: New, New York CNN, US Department of Energy, Energy Department, ”, The Energy Department, United Auto Workers union, Biden Administration, UAW, Congressional Locations: New York, United States

☆ 8 easy — and cheap — ways to cut your carbon emissions
▼ + stars: | 2023-08-30 | by ( Greg Iacurci | ) www.cnbc.com time to read: +7 min

Here are some easy — and inexpensive or no-cost — ways to reduce your carbon footprint today, according to efficiency and environmental experts. As such, the average household saves about $225 in energy costs per year by switching to LED lighting, the Energy Department said. Cut food wasteErlon Silva - Tri Digital | Moment | Getty ImagesThe average American wastes more than 400 pounds of food a year. A washing machine spends 90% of its energy to heat water, for example, the Consumer Federation of America said. Even putting something like a brick in your toilet tank will displace — and therefore save — water.

Persons: Katharine Hayhoe, Keoleian, Jose Luis Pelaez, Hayhoe, Oscar Wong, Tom Werner, Digitalvision Organizations: Nature Conservancy, Texas Tech University, U.S . Department of Energy, Energy Department, Silva, Tri, Environmental, Agency, Consumer Federation of America, Public, Getty Locations: U.S

☆ Battery firm Redwood Materials raises over $1 bln to expand US ops
▼ + stars: | 2023-08-29 | by ( ) www.reuters.com time to read: +1 min

Aug 29 (Reuters) - Redwood Materials said on Tuesday it had raised more than $1 billion in new funding as the battery materials firm, founded by former Tesla (TSLA.O) executive JB Straubel, seeks to expand its operations in the United States. The company in February received a conditional commitment for a $2 billion loan from the U.S. Energy Department to build a $3.5-billion recycling and re-manufacturing complex in Nevada for electric-vehicle battery materials. The latest funding round for Redwood, founded in 2017 by Straubel, was co-led by Goldman Sachs Asset Management, Capricorn's Technology Impact Fund and funds advised by T. Rowe Price Associates. "We will use our Series D funding to continue building our capacity, expanding the domestic battery supply chain and allowing our customers to purchase battery materials made in the US," Redwood said. The Carson City, Nevada-based company has a long-term partnership with Panasonic (6752.T), which builds battery cells in Nevada in a joint venture with Tesla, for providing battery materials.

Persons: Tesla, JB Straubel, Straubel, Rowe Price, Redwood, Nathan Gomes, Vinay Dwivedi Organizations: Redwood Materials, U.S . Energy Department, Redwood, Goldman Sachs Asset Management, Technology, Fund, Rowe Price Associates, Panasonic, Tesla, Thomson Locations: United States, Nevada, Carson City , Nevada, Bengaluru

Markets await hints on the outlook for interest rates when Federal Reserve officials and policy makers from the European Central Bank, the Bank of England and the Bank of Japan head to Jackson Hole, Wyoming, for an annual meeting later this week. Earlier on Wednesday, Japan posted shrinking factory activity for a third straight month in August, and the euro zone, France, Germany, Britain and the United States are set to release their own purchasing managers' index (PMI) data later in the day. Crucial to shoring up oil demand over the rest of the year is China, the world's second-largest economy. Crude stocks in the United States continued to fall, dropping by about 2.4 million barrels in the week ended Aug. 18, according to market sources citing American Petroleum Institute figures on Tuesday. That was a slightly smaller draw than a drop of 2.9 million barrels analysts expected in a Reuters poll.

Persons: Jackson, Brent, Hiroyuki Kikukawa, John Evans, Paul Carsten, Yuka Obayashi, Andrew Hayley, Clarence Fernandez, Mark Potter Organizations: Danang Petroleum Machinery Technology JSC, U.S, West Texas, Federal Reserve, European Central Bank, Bank of England, Bank of Japan, U.S . Federal, NS, Nissan Securities, PVM, Organization of, Petroleum, American Petroleum Institute, Energy Information Administration, Thomson Locations: Danang, United States, Jackson Hole , Wyoming, Japan, France, Germany, Britain, China, Saudi Arabia, Russia, U.S, London, Tokyo, Beijing

REUTERS/Lucy Nicholson/File Photo Acquire Licensing RightsBEIJING, Aug 23 (Reuters) - Oil prices ticked up in Asian trade on Wednesday, as markets weighed weak demand indicators from top importer China and the prospect of further U.S. rate hikes against potential supply tightness. "Concerns over higher interest rates and sluggish demand in China are expected to outweigh tightening supply from OPEC+ in the short term." China, the world's second-largest economy, is considered crucial to shoring up oil demand over the rest of the year. That was a slightly smaller draw than a drop of 2.9 million barrels analysts expected in a Reuters poll. "Following the massive draw of 6.2 million barrels a week earlier, overall supplies conditions still lean on the tighter end," said Jun Rong Yeap, a market strategist at IG in Singapore.

Persons: Lucy Nicholson, Brent, Jackson, Hiroyuki Kikukawa, Rong Yeap, Yuka Obayashi, Andrew Hayley, Sonali Paul, Clarence Fernandez Organizations: REUTERS, Rights, China, West Texas, Federal Reserve, European Central Bank, Bank of England, Bank of Japan, U.S . Federal, NS, Nissan Securities, Organization of, Petroleum, American Petroleum Institute, IG, Energy Information Administration, Thomson Locations: Bakersfield , California, Rights BEIJING, Jackson Hole , Wyoming, China, Saudi Arabia, Russia, OPEC, United States, Singapore, U.S, Tokyo, Beijing

China is dominant in magnets and the rare earth metals they are made from. Magnet makers are also drawn to Vietnam by low labour costs and market access afforded by multiple free-trade deals. It said it sources most of its rare earths from China but is seeking alternative sources in Vietnam and Australia and plans to develop a processing facility in Vietnam. A similar request from clients prompted another Chinese magnet maker, Magsound, to decide to open a factory in Vietnam in the first half of next year, the two people said. In April, Australia's Strategic Materials (ASM.AX) signed a deal with a Vietnamese refiner that committed to supplying rare earths for export to South Korea.

Persons: David Merriman, China's Luxshare, Taiwan's Foxconn, Magsound, Japan's Shin, Obayashi, Francesco Guarascio, Khanh Vu, Mai Nguyen, Christopher Cushing Organizations: Apple, Sino, Korea's Star, Industrial, SGI, U.S . Department of Energy, South, Reuters, VinFast, Hyundai, China's, Luxshare, Thomson Locations: China, HANOI, SEOUL, Vietnam, U.S, South Korea, Washington, Beijing, Australia, Hanoi

That includes a $35 million government procurement program for carbon removal credits, and funding for 14 feasibility studies and 5 engineering and design studies for earlier-stage hub projects. Worsening climate change and inadequate efforts to cut emissions have thrust carbon removal into the spotlight. Although most environmental activists acknowledge that carbon removal will be needed for global climate targets to be met, they are concerned companies could use carbon removal development to give fossil fuel companies cover to maintain production, especially in minority and low-income areas. Erin Burns, director of carbon removal advisory firm Carbon180, said the United States is positioning itself as a leader in this technology. "This is the first major federal investment from any country on carbon removal at this level," Burns said.

Persons: Worley, Jennifer Granholm, Vicki Hollub, Erin Burns, Carbon180, Burns, Valerie Volcovici, Gerry Doyle Organizations: Reuters, REUTERS, Occidental Petroleum Corp, WASHINGTON, U.S . Department of Energy, Department of Energy, DOE, Battelle, Climeworks Corporation, Carbon, Inc, South, South Texas DAC, Occidental 1PointFive, Carbon Engineering Ltd, DAC, Energy Department, United Arab, Occidental, Thomson Locations: Handout, Texas, Louisiana, Cypress, South Texas, Kleberg County , Texas, United Arab Emirates, United States

☆ The odd behavior of a subatomic particle may shake up physics
▼ + stars: | 2023-08-10 | by ( Will Dunham | ) www.reuters.com time to read: +4 min

An experiment studied the wobble of subatomic particles called muons as they traveled through a magnetic field. Fermi National Accelerator Laboratory/Ryan... Read moreWASHINGTON, Aug 10 (Reuters) - The peculiar wobble of a subatomic particle called a muon in a U.S. laboratory experiment is making scientists increasingly suspect they are missing something in their understanding of physics - perhaps some unknown particle or force. The experiment studied the wobble of muons as they traveled through a magnetic field. Casey was alluding to a principle called Lorentz invariance that holds that the laws of physics are the same everywhere. The researchers shot beams of muons into a donut-shaped superconducting magnetic storage ring measuring 50 feet (15 meters) in diameter.

Persons: Ryan, Read, Brendan Casey, Casey, Rebecca Chislett, Chislett, Will Dunham, Rosalba O'Brien Organizations: . Department, Energy's Fermi, Accelerator Laboratory, Fermi, Accelerator, U.S . Energy, Fermilab, " University College London, Thomson Locations: Batavia , Illinois, U.S, WASHINGTON

☆ US scientists repeat fusion power breakthrough, Financial Times reports
▼ + stars: | 2023-08-06 | by ( ) www.reuters.com time to read: +1 min

Researchers at the federal Lawrence Livermore National Laboratory in California repeated the breakthrough in an experiment on July 30 that produced a higher energy output than in December, the newspaper said, citing people with knowledge of the results. The same lab achieved a net energy gain in a fusion experiment using lasers on Dec. 5, 2022. The scientists focused a laser on a target of fuel to fuse two light atoms into a denser one, releasing the energy. The laboratory confirmed to the FT that energy gain had been achieved again at its laser facility, adding that analysis of the results was underway. The Lawrence Livermore National Lab and the U.S. Energy Department did not immediately respond to Reuters' request for comment.

Persons: Damien Jemison, Lawrence, Lavanya, Leslie Adler Organizations: Target Chamber, Lawrence Livermore National Laboratory, REUTERS, Financial Times, Lawrence Livermore National Lab, U.S . Energy Department, Reuters, Thomson Locations: Lawrence Livermore National Laboratory federal, Livermore , California, U.S, Lawrence Livermore, California, Bengaluru

☆ Oil prices rise more than 1% after sharp drop in U.S. crude stocks
▼ + stars: | 2023-08-02 | by ( ) www.cnbc.com time to read: +2 min

Oil prices rose more than 1% on Wednesday, trading near their highest since April, after industry data showed a much steeper-than-expected draw last week in crude oil inventories in the U.S., the world's biggest fuel consumer. U.S. oil inventories fell by 15.4 million barrels in the week ended July 28, according to market sources citing American Petroleum Institute figures, compared with analysts' estimates for a drop of 1.37 million barrels. OPEC oil output fell in July on Saudi Arabia's voluntary cut as well as an outage that curbed Nigerian supply, a Reuters survey found on Monday. On the demand side, gasoline inventories fell by about 1.7 million barrels, according to the API data, compared with estimates for a 1.3 million barrel drop. Distillate inventories fell by about 510,000 barrels, compared with analysts estimates for a build of 112,000 barrels.

Persons: Biden Organizations: Brent, U.S, West Texas, American Petroleum Institute, Organization of, Petroleum, Reuters, U.S . Strategic Petroleum Reserve, Energy Department Locations: U.S, Saudi Arabia, Saudi

☆ Obama-era rules banning low-efficiency light bulbs are now in full force. You don't have to throw away your incandescents, but switching to LEDs could lower your utility bills.
▼ + stars: | 2023-08-02 | by ( David Hamilton | Associated Press | ) www.businessinsider.com time to read: +4 min

They effectively end the sale and manufacture of incandescent light bulbs. You don't have to throw away incandescent bulbs you already own, but switching could save you money. You can thank — or blame — new federal energy efficiency regulations that went into full effect Tuesday. Practical incandescent bulbs, which trace their origin to an 1880 Edison patent, can't meet those standards. How LED bulbs save energy and moneyIncandescent bulbs create illumination by running an electric current through a filament that heats it until it glows.

Persons: —, Thomas Edison, Obama, Donald Trump, Biden, Volodymyr Plysiuk Organizations: Service, FRANCISCO, Energy Department, Energy Information Administration, Getty Locations: Wall, Silicon

☆ Incandescent light bulb ban: What you need to know
▼ + stars: | 2023-08-01 | by ( David Goldman | ) edition.cnn.com time to read: +3 min

New York CNN —America’s ban on incandescent light bulbs, 16 years in the making, is finally a reality. That effectively outlaws the manufacture and sale of common incandescent bulbs, the kind you screw into the vast majority of light sockets in your home. That’s because traditional incandescent bulbs provide just 15 lumens per watt, according to light bulb manufacturer Philips. Not all incandescent light bulbs are banned as part of the new rule, according to the Department of Energy. The ban caps off a decades-long bipartisan effort to ban incandescent bulbs that started in the Bush administration.

Persons: New York CNN —, Trump, Biden, Joe Biden’s, Bush, Donald Trump’s, Obama, Republicans “, CNN’s Ella Nilsen Organizations: New, New York CNN, Joe Biden’s Department of Energy, Philips, Department of Energy, Energy Department, US Energy Information Administration, Republicans Locations: New York

☆ US pulls back offer to buy 6 million barrels of oil for emergency reserve
▼ + stars: | 2023-08-01 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Richard CarsonWASHINGTON, Aug 1 (Reuters) - The Biden administration has pulled an offer to buy 6 million barrels of oil for the Strategic Petroleum Reserve, an Energy Department spokesperson said on Tuesday, as oil prices are expected to keep rising after a output cut from Saudi Arabia. The U.S. made the latest solicitation to buy the sour crude oil for the SPR on July 7. After the administration released a record 180 million barrels from the reserve last year to control prices after Russia's invasion of Ukraine, the Energy Department has bought back 6.3 million barrels in recent months. The person not specify what that meant, but tight oil supplies that have caused global oil prices to rise above $80 per barrel in recent weeks. The American Petroleum Institute indicated on Tuesday that U.S. crude stocks fell about 15.4 million barrels in the week that ended July 28, sources said.

Persons: Richard Carson WASHINGTON, Biden, Timothy Gardner, Leslie Adler, Cynthia Osterman, Gerry Doyle Organizations: Department of Energy, Strategic Petroleum Reserve, REUTERS, Energy Department, American Petroleum Institute, Thomson Locations: Freeport , Texas, U.S, Saudi Arabia, Ukraine

☆ It’s Official: Stores Can No Longer Sell Most Incandescent Lights
▼ + stars: | 2023-08-01 | by ( Hiroko Tabuchi | More About Hiroko Tabuchi | ) www.nytimes.com time to read: +1 min

And a few specialized kinds of incandescent bulbs — like those that go inside ovens, and bug lights — are exempt. But most if not all other incandescents will struggle to meet the new efficiency standards, and the same goes for a more recent generation of halogen lights. “Going from an incandescent to an LED is like replacing a car that gets 25 miles per gallon with another one that gets 130 m.p.g.,” he said. With the new rules in place, the Department of Energy expects Americans to collectively save nearly $3 billion a year on their utility bills. In the past, a knock on LEDs was that they were more expensive to buy, but prices for LED bulbs have fallen rapidly to near parity with incandescents.

Persons: ”, Lucas Davis, “ Organizations: “ Energy, Haas School of Business, University of California, Department of Energy, Research, Energy Department Locations: Berkeley

☆ These are the 10 American states that are the most prepared for extreme weather
▼ + stars: | 2023-07-28 | by ( Scott Cohn | ) www.cnbc.com time to read: +9 min

But NOAA puts the Ohio Valley at the low end of its Climate Extremes Index, which considers temperatures, precipitation, drought and hurricanes. 2023 Infrastructure score: 205 out of 390 points (Top States grade: C+) Climate Extremes Index: 8.7% Properties at risk: 2.1% Renewable energy: 12.3%8. 2023 Infrastructure score: 231 out of 390 points (Top States grade: B) Climate Extremes Index: 23.68% Properties at risk: 4.2% Renewable energy: 42.5%5. 2023 Infrastructure score: 254 out of 390 points (Top States grade: A-) Climate Extremes Index: 8.7% Properties at risk: 2.7% Renewable energy: 34.6%2. 2023 Infrastructure score: 193 out of 390 points (Top States grade: C) Climate Extremes Index: 19.78% Properties at risk: 9% Renewable energy: 84%1.

Persons: Jeremy Porter, they're, Porter, John Boyd , Jr, Seth Herald, Joe Biden, Adam J, Brian Snyder, Jim Mracek, Andrew Lichtenstein, Helen H, Richardson, Marshall, Jewel Samad, James McGath, Cole Ruud, Nicole Neri, Scott Olson, Biden, Daniel Acker Organizations: Street Foundation, The Boyd Company, Micron, CNBC, First, Atmospheric Administration, U.S . Department of Energy, Tennessee, NOAA, Seth, AFP, Getty, Volunteer State, Michigan, Dewey, Anadolu Agency, Great, Great Lakes State, FEMA, Green, Nebraska, Corbis, Cornhusker, Colorado Firefighters, National Center for Atmospheric Research, Denver Post, Centennial, Kansas, Oklahoma Electric, Sooner State, Energy Department, Washington Post, North Star State, Mount, Iowa, Bloomberg Locations: New York, States, Memphis , Tennessee, Tennessee, Ohio, Royal Oak, MI, Metro Detroit, Royal Oak , Michigan, United States, Great Lakes, Michigan, Vermont, Montpelier , Vermont, Nebraska, Cass County, Boulder , Colorado, Colorado, Dodge City , Kansas, Kansas, Moore , Oklahoma, Sooner, Oklahoma, Minnesota, Stillwater, Stillwater , Minnesota, St, Croix, Dakota, Salem , South Dakota, Mount Rushmore, South Dakota, Gowrie , Iowa, U.S

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