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US Senate Floats Full Phase-Out of Solar, Wind Energy Tax Credits by 2028

WASHINGTON, June 16 (Reuters) – The U.S. Senate tax committee proposed a full phase-out of solar and wind energy tax credits by 2028, but extended the incentive to 2036 for hydropower, nuclear and geothermal energy, which are favored by President Donald Trump’s administration, according to a draft bill circulated on Monday. The draft released by …

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South Carolina’s Republican Governor Asks to be Left Out of Trump Offshore Drilling Plan

June 16 (Reuters) – The Republican governor of South Carolina appealed to the Trump administration on Monday to leave his state out of an impending plan to increase offshore oil and gas production. The letter comes as the administration wraps up a 45-day request for public input into a federal offshore oil and gas leasing …

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Oil Price Surge Sparks Burst of Hedging Among Shale Drillers

By Lucia Kassai and David Marino The surge in oil futures spurred by the initial missile attacks in the Middle East last week triggered a wave of hedging by producers seeking to lock in the higher prices, keeping some traders up late into the night. AEGIS Hedging Solutions LLC, a Woodlands, Texas-based firm that helps …

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Ex-Shell US Oil Trading Boss Claims He’s Owed $29 Million Bonus

By Lucia Kassai Shell Plc’s former head of oil trading in the US was stiffed on his 2020 bonus by more than $29 million, he claims in a lawsuit that shines a light on compensation inside the oil major’s lucrative trading unit. John Dimech alleges that even though his unit’s profits doubled in 2020, his …

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COMMENTARY: What’s Not Happening to Middle East Crude Supply Matters More – Russell

By Clyde Russell LAUNCESTON, Australia, June 16 (Reuters) – When tensions rise in the Middle East, it can be helpful to look at what is not happening as much as what is. In the crude oil market, this means focusing on the fact that so far not a single barrel of crude oil supply has …

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