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New York to Fine Fossil Fuel Companies $75 Billion Under New Climate Law

(Reuters) – New York state will fine fossil fuel companies a total of $75 billion over the next 25 years to pay for damage caused to the climate under a bill Governor Kathy Hochul signed into law on Thursday. The law is intended to shift some of the recovery and adaptation costs of climate change …

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Plan to Throttle Foreign Fossil Fuel Finance Collapses at OECD, Bloomberg Reports

(Reuters) – A plan discussed by wealthy nations to throttle tens of billions of dollars in public support for oil and gas projects has broken down without agreement, Bloomberg News reported on Monday. The European Union, UK, the United States and other countries had sought the deal to limit export-credit agency finance for global fossil-fuel …

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Hefty US Thermal Coal Exports Look Set to Keep Climbing in 2025: Maguire

U.S. coal traders have exported the highest volume of thermal coal in six years over the first eleven months of 2024, and look set to ship out even greater volumes in 2025 once President-elect Donald Trump takes office. U.S. exports of coal used in power generation hit 32.6 million short tons from January through November, …

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How Trump’s Second Administration Affects Business: Energy, Musk, Tariffs and More

Donald Trump’s return to the White House after winning the Nov. 5 U.S. presidential election may reshape American business. Much depends on whom he appoints as deputies and cabinet members, including the role of Tesla CEO Elon Musk, and what tariffs he enacts. Following are some major issues and sectors to watch: WHAT ROLE WILL …

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How Trump’s Second Administration Affects Business: Musk, Tariffs and More

Donald Trump’s return to the White House after winning the Nov. 5 U.S. presidential election may reshape American business. Much depends on whom he appoints as deputies and cabinet members, including the role of Tesla CEO Elon Musk, and what tariffs he enacts. Following are some major issues and sectors to watch:WHAT ROLE WILL ELON …

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Climate Skeptics Are Hatching Big Plans for a Second Trump Term

Activists would push a new Republican administration to boost coal-fired power, block EPA science and challenge models of global warming. Activists who dispute the severity of human-caused climate change are quietly preparing to seize their moment should Donald Trump win a second term. Pushed to the political fringes during Joe Biden’s presidency, they are now laying the groundwork …

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How do Trump and Harris Differ on Energy Policy?

Republican Donald Trump and Democrat Kamala Harris have a couple of things in common on the issue of U.S. energy policy: both say they want to expand production and keep prices down for consumers. The core difference is that Harris says she wants to do so in a way that favors clean energy technologies crucial …

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Supreme Court Allows EPA Power Plant Pollution Curbs for Now

Justices won’t block rule while case appeal plays out Power, mining companies sought to halt EPA regulation The US Supreme Court let the Environmental Protection Agency move ahead with its stringent new emissions limits for power plants, rebuffing businesses and Republican-run states that complained the rule will impose exorbitant compliance costs. The high court order is a major boost …

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World Set for Cheaper Energy on Shift From Oil and Gas, IEA Says

Demand for all fossil fuels to stop growing this decade World enters ‘Age of Electricity’ with EV sales set to climb The world is heading into an era of cheaper energy prices as a shift towards electricity use leaves behind surpluses of oil and gas, the International Energy Agency predicted. Global demand for all fossil fuels will …

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Duke Plans to Delay Coal Plant Closing Despite Climate Goals

Firm seeks to extend life of Indiana facility by three years Power demand spike has complicated utilities’ climate goals Duke Energy Corp. plans to extend the life of its largest coal-fired power plant, pushing aside its climate goal to shutter all facilities that burn the dirty fuel by 2035. The utility said it plans to operate …

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