When the Democrats finally passed the "Inflation Reduction Act" in 2022 (how's that going?), they included several tax hikes set to take effect on Jan. 1, 2023.
Renewable energy sources, including wind turbines and solar panels, struggle to meet elevated energy demand during Christmas Eve snowstorms in the northeastern US and Texas, forcing utilities to burn fossil fuels to prevent power outages.
The European Union announced on Dec. 18 a provisional agreement that reforms the bloc’s carbon market, successfully expanding a crucial component of the region’s broader green agenda.
On Friday, Chinese leader Xi Jinping met Saudi Arabian leaders in that country, expressing his interest in using yuan to buy Persian Gulf generated gas and oil.
The Biden administration has quietly approved plans to build a new crude oil terminal in the Gulf of Mexico off Texas, seemingly in contradiction to the president’s past comments on the consumption of fossil fuels and carbon emissions.