President Donald Trump said the US will provide insurance guarantees and naval escorts to ensure safe passage for oil tankers and other vessels through the Strait of Hormuz, aiming to head off a potential energy crisis caused by the war with Iran.
The Trump administration on Wednesday closed a $26.5 billion loan package for Southern Co. power projects in Georgia and Alabama amid rising concern about electricity price affordability and electricity-thirsty data centers.
The Trump administration said it’s canceling almost $30 billion of financing from the Energy Department’s green bank after reviewing transactions approved under former President Joe Biden.
President Donald Trump launched a sweeping overhaul of US energy policy hours after taking office Monday, putting the weight of the federal government behind fossil-fuel production and pulling back from the fight against climate change.
OpenAI Chief Executive Officer Sam Altman and Nvidia Corp. CEO Jensen Huang met with senior Biden administration officials and other industry leaders at the White House, where they discussed steps to address massive infrastructure needs for artificial intelligence projects.
Hydrogen projects involving Amazon.com Inc., Exxon Mobil Corp. and Air Products and Chemicals Inc. are among those receiving portions of $7 billion in US funding meant to make the country a leader in the controversial fuel.
A US government shutdown would have a cascading economic effect, beginning mildly and deepening over time as millions of workers go without salary, private contractors aren’t paid and consumer uncertainty grows over Washington’s dysfunction.
Debt limit talks in Washington have hit a fresh impasse with negotiators far apart on key issues, especially the spending cuts demanded by Republicans, as time runs short to avert a historic US default.
A Nevada lithium mine that would be only the second in the US is getting backing from the Biden administration as it seeks to boost the domestic supply of the critical mineral needed to make electric vehicle batteries.
The Biden administration is moving toward a release of at least another 10 million to 15 million barrels of oil from the nation’s emergency stockpile in a bid to balance markets and keep gasoline prices from climbing further, according to people familiar with the matter.
President Joe Biden and Senate Majority Leader Chuck Schumer are the biggest winners now that a huge piece of Democrats’ economic agenda is hurtling toward enactment.
The spending bill House Democrats passed Friday and sent to the Senate calls for the largest-ever investment in fighting climate change: $555 billion on clean power, electric vehicles and resilience to global warming.
