Environment

President Joe Biden threatened Monday to pursue higher taxes on oil company profits if industry giants do not work to cut gas prices. Biden has criticized oil companies that have made record-high profits as consumers struggle to keep up with high gas prices. The price of a gallon of gas was $3.76 on Monday, according

Offshore wind farm. davee hughes uk | Moment | Getty Images The developer for a major offshore wind power project in Massachusetts has asked state regulators to pause review of the contract for one month, saying that global price hikes, inflation and supply chain shortages are disrupting the plan. The Commonwealth Wind project, which would

Tesla CEO Elon Musk photographed in Austin, Texas, on April 7, 2022. The electric vehicle firm has also made forays into battery storage. Suzanne Cordeiro | AFP | Getty Images Dogecoin, the cryptocurrency branded after a viral dog meme from 2013, is up 35% since Monday as Elon Musk’s deal to buy Twitter approaches a

An aerial view of Phillips 66 oil refinery is seen in Linden, New Jersey, United States on May 11, 2022. Anadolu Agency | Anadolu Agency | Getty Images A perfect storm is taking place in the diesel market, with dwindling diesel reserves, a drought on the Mississippi River pushing more product to rail and truck,

An electric car being charged in Germany. The European Union is moving forward with plans to ramp up the number of EVs on its roads. Tomekbudujedomek | Moment | Getty Images The EU’s plans to phase out the sale of new diesel and gasoline cars and vans took a big step forward this week after

The iconic Old Faithful Geyser springs to life (every 90 minutes) in Yellowstone National Park’s Upper Geyser Basin on September 18, 2022, in Yellowstone National Park, Wyoming. Sitting atop an active volcanic caldera, Yellowstone, America’s first National Park, is home to more geological hydrothermal features (geysers, mud pots, hot springs, fumaroles) than are found in

Every weekday the CNBC Investing Club with Jim Cramer holds a “Morning Meeting” livestream at 10:20 a.m. ET. Here’s a recap of Friday’s key moments. Looking for new names We made 2 trades Earnings recap 1. Looking for new names Stocks climbed Friday, with the Dow Jones Industrial Average up nearly 2%. And we’re looking

The latest data shows that the EU’s overall storage levels are at an average of nearly 94% full. Picture Alliance | Picture Alliance | Getty Images European gas prices may have dropped to levels not seen in more than four months, but this is far from being the end of the energy crisis, four industry

Shares of Club holding Pioneer Natural Resources (PXD) climbed in extended trading Thursday on the back of solid third-quarter results. The oil-and-gas producer also showed it’s making good on a promise to return excess cash to shareholders, checking the main box in our investment thesis for the company. Total revenue climbed by 36.5% year-on-year, to

Wind turbines photographed off the coast of Wales. Clean energy investment could be on course to exceed $2 trillion per year by 2030, according to the International Energy Agency. Ben Birchall | PA Images | Getty Images International Energy Agency Executive Director Fatih Birol told CNBC Thursday that the main driver of clean energy investment

Wells Fargo on Wednesday upgraded Halliburton (HAL) to the equivalent of a buy rating from hold, authoring a favorable investment case that closely aligns with the Club’s rationale for owning the oilfield services company. In addition to the bullish rating adjustment, analysts at Wells Fargo also raised their price target on Halliburton shares to $52

Officials have denied problems in the Franco-German relationship, but Chancellor Scholz’s focus on domestic politics is upsetting some lawmakers in Europe. Omer Messinger | Getty Images News | Getty Images Fresh tensions between France and Germany are challenging their relationship at a time when their unity is critical for broader European policy in tackling the

International Energy Agency Executive Director Fatih Birol warned emerging and developing countries are most vulnerable to soaring energy prices. “It is not the U.S. who will suffer the most [from] the high energy prices,” Birol told CNBC on Tuesday. Birol said those who will be hit hardest include oil-importing nations in Africa, Asia and Latin

The future Site of the city Neom, a planned cross-border city, stands empty before development begins in the Tabuk Province of northwestern Saudi Arabia, December 18, 2019. Picture taken December 18, 2019. Lucas Jackson | Reuters DUBAI, United Arab Emirates — If you’ve been seeing mysterious Bladerunner-type ads popping up on your phone recently for Neom

In this article @NG.1 Follow your favorite stocksCREATE FREE ACCOUNT An LNG import terminal at the Rotterdam port in February 2022. Federico Gambarini | Picture Alliance | Getty Images The U.S. is exporting more LNG to Europe as a result of Russia’s war in Ukraine and cuts made to natural gas supplies ahead of winter,

President Joe Biden said oil companies need to use their record profits to ramp up production rather than to enrich shareholders. “My message to the American energy companies is this: You should not be using your profits to buy back stock or for dividends. Not now. Not while a war is raging,” Biden said. “You

The door to number 10 is seen beyond a rain-covered umbrella at Downing Street on October 20, 2022 in London, England. Leon Neal | Getty Images News | Getty Images LONDON — U.K. Prime Minister Liz Truss is reportedly locked in discussions with a key member of the Conservative Party who oversees leadership challenges, as

Police offers stand guard near demonstrators blocking the entrance to a Luma Energy facility at the Puerto Rico Electric Authority (Prepa) Palo Seco Power Plant in Toa Baja, Puerto Rico, on Friday June 4, 2021. Xavier Garcia | Bloomberg | Getty Images When Hurricane Fiona hit Puerto Rico in September, Felipe Pérez was ready. Pérez,

After years of anticipation, the cryptocurrency ethereum finally implemented a major network upgrade that completely changes how the blockchain verifies transactions, mints new coins and secures its network. Called proof-of-stake, this system has reduced ethereum’s energy consumption by more than 99%. Energy usage has been one of the cryptocurrency industry’s biggest targets for critique. But

BRUSSELS — The European Union on Friday moved one step closer to establishing a cap on gas prices after several months of discussions, with Germany now conceding that the idea “makes sense.” The EU has been battling against an unprecedented energy shock stemming from Russia’s invasion of Ukraine. However, action thus far to curb gas

Every weekday the CNBC Investing Club with Jim Cramer holds a “Morning Meeting” livestream at 10:20 a.m. ET. Here’s a recap of Friday’s key moments. Stocks rally Earnings move Club names Sticking with DHR 1. Stocks rally Stocks rallied Friday on the back of a Wall Street Journal report suggesting the Federal Reserve could potentially

As Europe struggles with a power shortage, Asia-Pacific’s power supply remains secure mainly because the region still uses a lot of coal, data has shown. With liquified natural gas supplies in the region redirected to Europe, power generators in Asia not only have less access to LNG but have had to opt out of buying

LONDON — British Prime Minister Liz Truss resigned Thursday, bringing to a close a brief 44-day tenure mired by “mini-budget” chaos, economic turmoil and weeks of political infighting. Speaking outside Downing Street, Truss said she had delivered her resignation to King Charles after meeting with Graham Brady, the leader of the Conservative Party’s 1922 Committee,

Prime Minister Liz Truss announces her resignation at 10 Downing Street on October 20, 2022 in London, England. Leon Neal | Getty Images LONDON — U.K. Prime Minister Liz Truss resigned Thursday following a failed tax-cutting budget that rocked financial markets and which led to a revolt within her own Conservative Party. Truss said in

Workers marry the body structure with the battery pack and the front and rear sub frames as they assemble electric vehicles at the Lucid Motors plant in Casa Grande, Arizona, September 28, 2021. Caitlin O’Hara | Reuters President Joe Biden announced $2.8 billion in grants for 20 companies to produce batteries for electric vehicles in

British Prime Minister Liz Truss departs 10 Downing Street for the weekly Prime Minister’s Questions (PMQs) in the House of Commons in London, United Kingdom on October 19, 2022. Anadolu Agency | Anadolu Agency | Getty Images LONDON — British Prime Minister Liz Truss insisted Wednesday she was a “fighter not a quitter” as she

WASHINGTON — President Joe Biden will announce an additional release of crude oil from the Strategic Petroleum Reserve on Wednesday in the range of 10 million to 15 million barrels, sources familiar with the plan told CNBC. The move aims to extend the current SPR delivery program, which began this spring, through December, the sources

Climate scientists described the shocking images of gas spewing to the surface of the Baltic Sea as a “reckless release” of greenhouse gas emissions that, if deliberate, “amounts to an environmental crime.” Anadolu Agency | Anadolu Agency | Getty Images A preliminary investigation into gas leaks from two underwater pipelines connecting Russia to Germany found

Putin’s war on energy is testing solidarity between EU nations Contributor / Contributor / Getty Images Russia’s continuing war in Ukraine is causing a “very, very challenging” situation in Europe, which is testing its countries’ solidarity not only in how they react to Putin’s aggression, but also in how they deal with the aftereffects. The

In this article STLA-IT Follow your favorite stocksCREATE FREE ACCOUNT The Stellantis CEO Carlos Tavares photographed next to a Jeep Avenger at the Paris Motor Show on October 17, 2022. Nathan Laine | Bloomberg | Getty Images The CEO of Stellantis told CNBC Monday that the company would use its own sites to generate half

In this article HMC 7267.T-JP 6758.T-JP Follow your favorite stocksCREATE FREE ACCOUNT Yasuhide Mizuno, the chairman and CEO of Sony Honda Mobility Inc., speaks during a news conference in Tokyo, Japan, on Oct. 13, 2022. Kiyoshi Ota | Bloomberg | Getty Images The Sony-Honda joint venture focused on electric vehicles plans to begin deliveries to

Russia is a dominant player in the global nuclear market. Anadolu Agency | Anadolu Agency | Getty Images Russia’s nuclear fuel industry remains conspicuously untouched by European sanctions more than seven months into the Kremlin’s war in Ukraine — much to the dismay of Kyiv officials and environmental campaigners. Despite eight rounds of sanctions, targeted

Even though WTI crude just saw its worst week in more than two months, the oil trade may have more juice left in the tank. Mirae Asset Securities’ Chris Hempstead told CNBC’s “ETF Edge” that he sees the Russia-Ukraine war fallout and OPEC+ oil cuts as key bullish catalysts for oil. “If you look at