Economy & Business

"House Votes To Restrict Feds From Banning Or Regulating Gas Stoves"

"The House on Tuesday voted in favor of preventing the Consumer Product Safety Commission from banning gas stoves and also limiting the safety agency’s ability to regulate the products."

Source: The Hill, 06/14/2023

"Fossil Fuel Company Net Zero Plans 'Largely Meaningless,' Report Says"

"The number of fossil fuel companies setting net-zero emissions targets has risen sharply over the past year, but most fail to address key concerns, making them "largely meaningless", a report showed on Monday."

Source: Reuters, 06/13/2023

"Lawmakers Launch Probe Of Insurance Firms’ Funding Of Fossil Fuel Industry"

"As insurance companies scale back coverage in disaster-prone states because climate risks have become too costly, U.S. lawmakers have launched an investigation into seven major carriers for continuing to insure and invest billions of dollars in fossil fuel projects, according to documents obtained by The Washington Post."

Source: Washington Post, 06/12/2023

"Virginia Panel Votes To Exit Carbon Trading Market"

"A Virginia regulatory board on Wednesday voted to withdraw the state from the Regional Greenhouse Gas Initiative, or RGGI, fulfilling a directive from Virginia Gov. Glenn Youngkin but triggering the threat of legal action from environmental groups who say the board overstepped its authority."

Source: Washington Post, 06/08/2023

‘Absolute Scandal’: UAE State Oil Firm Able To Read Cop28 Climate Summit Emails

"The United Arab Emirates’ state oil company has been able to read emails to and from the Cop28 climate summit office and was consulted on how to respond to a media inquiry, the Guardian can reveal."

Source: Guardian, 06/08/2023

Oil State Hired Biggest PR Firms To Buff Its Climate Image. It Didn’t Help.

"One of the world’s wealthiest oil states is engaged in a wide-ranging public relations and lobbying campaign to cast itself as an environmental leader before it hosts the United Nations’ next climate talks in November. But the United Arab Emirates’ efforts are colliding with a barrage of criticism from lawmakers and environmentalists in both the U.S. and Europe, who scoff at the idea that the oil-flush nation is committed to helping shift the world off planet-heating fossil fuels.

Source: E&E News, 06/08/2023

Rich Nations Undermining Climate Funds To Help Poor Countries: Report

"Rich nations are undermining work to protect poor and vulnerable countries from the impacts of the climate crisis, by providing loans instead of grants, siphoning off money from other aid projects or mislabelling cash, new research suggests."

Source: Guardian, 06/05/2023

"Oil Jumps 2% On Saudi Plan To Deepen Output Cuts From July"

"SINGAPORE - Oil prices jumped more than $1 a barrel on Monday after the world's top exporter Saudi Arabia pledged to cut production by another 1 million barrels per day from July, counteracting macroeconomic headwinds that have depressed markets.

Brent crude futures were at $77.64 a barrel, up $1.51, or 2%, at 0014 GMT after earlier hitting a session-high of $78.73 a barrel.

U.S. West Texas Intermediate crude climbed $1.41, or 2%, to $73.15 a barrel, after touching an intraday high of $75.06 a barrel."

Source: Reuters, 06/05/2023

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