The Biden administration said Friday it would resume plans for oil and gas drilling on federal lands and waters after an appeals court ruled to allow the use of an approximately fivefold higher “social cost of carbon” value in evaluating permits, according to reports.
The Bank of England has warned that inflation could hit 8 per cent by as early as next month in Britain as it raised interest rates to pre-pandemic levels on Thursday.
Here’s an actual headline good for some laughs: “Vulnerable Senate Dems try to run as tax-cutters.” That howler of a header appeared this week in Politico.
Despite the pressure from climate change activists in the federal government and the private sector to cut back on drilling for oil, the price for fossil fuels is the highest since 2014.
Democratic governor Gavin Newsom has planned to use some of the state's budget surplus from federal COVID stimulus payments toward climate-related projects.