Author: omc_admin

WASHINGTON — U.S. Secretary of Energy Chris Wright testified today before the House Committee on Appropriations, Subcommittee on Energy and Water Development, outlining the Department of Energy’s Fiscal Year 2026 budget request.The FY2026 Budget reflects President Trump’s directive to unleash American energy, eliminate wasteful spending and refocus the Department on its core mission. It brings non-defense discretionary spending to its leanest level since 2017 and eliminates over $15 billion in Green New Scam funding that supports more expensive, less reliable energy sources. For more details, view the budget toplines here.Secretary Wright’s opening remarks:Chairman Fleischmann, Ranking Member Kaptur, and Members of the Committee, it is…

Tesla’s China-made vehicle sales dropped sharply in April, bucking the trend of strong growth among major Chinese EV competitors, according to CNEVPOST.According to the China Passenger Car Association (CPCA), Tesla sold 58,459 vehicles last month (including exports), down 5.96% year-over-year and 25.84% from March’s 78,828 units. From January to April, Tesla China’s total sales fell 18.31% year-over-year to 231,213 units.The report says that in contrast, local rivals posted strong gains. Nio delivered 23,900 vehicles in April—up 53% from a year ago and nearly 59% from March. Xpeng reported 35,045 deliveries, its second-best month ever, up 273% year-over-year. Li Auto delivered 33,939 units, a…

Wildfires driven by the climate crisis contribute to as many as thousands of annual deaths and billions of dollars in economic costs from wildfire smoke in the United States, according to a new study.The paper, published on Friday in the journal Nature Communications Earth & Environment, found that from 2006 to 2020, the climate crisis contributed to about 15,000 deaths from exposure to small particulate matter from wildfires and cost about $160bn. The annual range of deaths was 130 to 5,100, the study showed, with the highest in states such as Oregon and California.“We’re seeing a lot more of these…

The increased price tag is a result of Trump’s tariffs on auto imports which car companies ultimately will pass on to consumers for cars that will hit dealer lots in June.Ford Motor Company has raised prices for three of its vehicles produced in Mexico, becoming one of the first major carmakers to adjust sticker prices following US President Donald Trump’s tariffs. The new prices took effect on vehicles produced on May 2 or later, according to the news agency Reuters, which first reported the story on Wednesday. Prices on the Mustang Mach-E electric SUV, Maverick pick-up — one of its…

The Rockefeller Foundation is launching a Coal to Clean Credit Initiative (CCCI), with which it will aim to support 60 projects by 2030 to help close coal-fired power plants in developing countries.As part of the first efforts of the new initiative, the Rockefeller Foundation will collaborate with ACEN Corporation, GenZero, Keppel, and Mitsubishi for a pilot project in the Philippines, the foundation said on Wednesday.The Rockefeller Foundation, set up by John D. Rockefeller in 1913, said back in 2020 that it had decided to divest from fossil fuels and not make any new investment in the industry. The Rockefeller Foundation has already launched programs aimed…

It was part of JD Vance’s first international trip as United States vice president: The former senator from Ohio was taking a tour of Europe, representing the second administration of President Donald Trump on the world stage. A major point on his itinerary was a speech he would give to the 61st annual Munich Security Conference on February 14, in front of leaders representing some of the US’s closest allies. But rather than celebrate those historic ties, Vance took a more aggressive approach. Perched at the podium in Munich, he shocked onlookers by criticising Europe, warning against laws and restrictions…

(Investing) – LONDON – Oil prices pared gains on Wednesday but rose for a second session, finding support from positive investor sentiment over U.S.-China trade talks to be held this weekend and signs of lower U.S. shale output.  futures climbed 41 cents a barrel, or around 0.7%, to $62.56 a barrel by 1219 GMT, while U.S. West Texas Intermediate crude was up 48 cents, or 0.8%, at $59.57 a barrel. The U.S. and China are due to meet in Switzerland, which could be the first step toward resolving a trade war disrupting the global economy. “It is clear that hopes are…

Jonathan Raa | Nurphoto | Getty ImagesDemocrats turned up the pressure on President Donald Trump’s cryptocurrency ventures this week and the fortune that he and his family are making off the efforts as a vote rolls forward on a key crypto bill.Thursday’s vote on the GENIUS ACT, a bill to establish federal rules for stablecoins, will be a test of how far the crypto lobby’s influence goes after it heavily backed Trump’s 2024 presidential campaign.Even with limited power, Democrats are calling for probes into Trump-connected coins and backers, seeking financial records and blocking legislation.On Capitol Hill Tuesday morning, California Rep.…

Chevron Phillips Chemical Co. LLC (CPChem)—a 50-50 joint venture of Chevron USA Inc. and Phillips 66 Co.—alongside partners EDB Investments Pte. Ltd. and Sumitomo Chemical Co. Ltd. have entered a deal to sell jointly owned Chevron Phillips Singapore Chemicals Pte. Ltd. (CPSC), which operates a 400,000-tonne/year (tpy) high-density polyethylene (HDPE) complex on Singapore’s Jurong Island. Under the May 6 sales and purchase agreement, Aster Chemicals and Energy Pte. Ltd. (ACEPL)—a joint venture of Indonesia-based PT Chandra Asri Pacific Tbk (Chandra Asri) subsidiary Chandra Asri Capital Pte. Ltd. (80%) and Glencore PLC’s Glencore Asian Holdings Pte. Ltd. (20%)—would take 100% ownership…

SLB announced at OTC Day 2 the launch of Electris™ — a portfolio of digitally enabled electric well completions technologies that boost production and recovery while reducing the total cost of ownership of an asset. Electris completions digitalize control of the entire productive area of the wellbore, providing real-time production intelligence across the reservoir. This enables operators to predict, adapt and act with confidence in response to dynamic production conditions — improving reservoir management over the life of the well and accessing reserves that conventional systems leave behind. “Electris completions take reservoir management to the next level —…