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Zahra Hirji, Ari Natter and Jennifer A Dlouhy, Bloomberg
The US Environmental Protection Agency (EPA) is expected to formally rescind carbon pollution standards for fossil fuel-fired power plants as soon as today, reports Bloomberg. Citing “people familiar with the matter”, the outlet says this latest rollback of major climate policies by the Trump administration “is expected to come on the sidelines of a G20 energy ministers’ meeting in Houston”. The EPA first proposed rolling back the power-plant climate rules last summer, the outlet says. This latest move would include a “separate rule repealing the federal finding that greenhouse gases from power plants specifically pose a threat, effectively a separate endangerment finding for power plants under the Clean Air Act”, it notes. The New York Times says the move would “complete the administration’s erasure of the most consequential climate policies” of presidents Obama and Biden. It adds: “If the move survives expected legal challenges, it could also prevent future administrations from regulating greenhouse gas emissions from power plants.”
Meanwhile, on Friday, a federal appeals court “threw out an order” from Trump's administration that had forced a Michigan coal plant to remain open beyond its planned retirement, reports Reuters. The unanimous ruling by a three-judge panel “found the Department of Energy exceeded its authority under a rarely used emergency provision of federal law”, the newswire says. The ruling is a “setback for the administration's efforts to preserve coal-fired generation at a time when US demand for electricity has soared due largely to the expansion of data centre”, it adds. The challenge was brought by attorneys-general from Michigan, Minnesota and Illinois, as well as environmental groups, says the Financial Times. The Trump administration could choose to appeal the ruling, says Politico, although the “justice department declined to comment on the decision”. The New York Times, Associated Press and Inside Climate News also carry the story.
MORE ON US
A US judge has ruled that the Trump administration broke the law by ordering the Federal Emergency Management Agency to cut its workforce in half, reports Reuters. Inside Climate News: “The Trump administration wants to fast-track Arctic drilling.” Tesla is “reclaiming” the US electric vehicle market “as legacy automakers retreat”, reports the Wall Street Journal. Financial Times: “Trump’s vision of Alaska as LNG superpower confronts an $80bn test.” A gas export terminal on the Gulf coast of Texas has routinely violated air pollution permits for years with little consequences from state regulators, reports Inside Climate News. DeSmog: “Carbon capture is booming. So is the push to shift oversight to states.”
Malcolm Moore, The Financial Times
Saudi Arabia has shut down its “crucial” east-west pipeline after it was attacked on Thursday, reports the Financial Times, “threatening a vital alternative route for crude exports from the Gulf and putting more upward pressure on oil prices”. A source at the Saudi energy ministry said operations along the pipeline have been halted as a “precautionary measure”, the newspaper says, with no timeline on when it would be restored. The 1,200km pipeline has “allowed the kingdom to continue to export millions of barrels of crude a day despite Iranian restrictions on tankers passing through the strait of Hormuz”, the article notes. The New York Times describes the pipeline as a “lifeline”. The halt threatens 4% of global oil supply, says Reuters. The Guardian says Saudi Arabia will “run out of oil stocks for export…within days” if the pipeline is not restored. US president Donald Trump said that Iran was “probably” behind the drone attack, reports another Reuters article. Iraq said the attack from its territory, reports the Associated Press. There is further reporting by CNN, CNBC and the Wall Street Journal.
On Friday, the International Energy Agency (IEA) said that it no longer expects the strait of Hormuz to reopen to shipping this year and warned that 2026 and 2027 will be “a lost period” for growth in global oil demand, reports the Financial Times. In its monthly report, the IEA said it expected global demand to fall by 2.5m barrels a day this year, a much bigger drop than its previous estimate, the newspaper notes. The report also says that, although demand is weakening under the weight of high fuel prices, supply is “falling even faster”, notes Reuters, “forcing inventories to be depleted at a record pace”. A separate Reuters article says that the IEA has “again revised down the outlook for Russia's oil production due to ongoing Ukrainian drone attacks on energy infrastructure”. On Sunday, Trump called on Ukraine to stop targeting Russian oil refineries in light of the surging fuel prices, reports Politico. Bloomberg and the Wall Street Journal also cover the IEA report.
MORE OIL NEWS
Trump suggested yesterday that the US could stay in Iran and "keep the oil", reports Reuters, drawing a parallel with a US push to take control of a fifth of Venezuela's oil reserves. A “top policymaker” has warned that the European Central Bank will have to raise interest rates further if oil prices continue to hover around $100 a barrel, reports the Financial Times.
Pratyush Deep, The Indian Express
A declaration from the 2026 BRICS summit in New Delhi has acknowledged the “important role” of fossil fuels while calling for a “just, orderly, equitable and inclusive” energy transition, reports the Indian Express. In the document, issued on Saturday, the 11 BRICS nations stressed the principle of “technological neutrality” and “common but differentiated responsibilities and respective capabilities” in pursuing energy transitions, while recognising that countries’ pathways would need to take into account their respective national circumstances, the outlet says. The declaration also “called for greater cooperation on smart grids, energy storage and critical minerals”, says the Times of India. Much of the coverage, including Al Jazeera and Reuters, focuses on the declaration’s “deep concern” over the war in the Middle East and its calls for “maximum restraint”.
BBC News says that the summit “succeeded in delivering a joint declaration when divisions among members have rarely been so glaring”. The Associated Press reports on the address by Indian prime minister Narendra Modi, in which he warned: “Pandemics, climate disasters and supply-chain disruptions have shown that in today’s interconnected world, no crisis remains confined to a single region.” Al Jazeera has the “key takeaways” from the summit.
David Sheppard, The Financial Times
UK government ministers have pushed back a decision on a new gasfield in the North Sea until October at the earliest, reports the Financial Times, as the Labour party prepares for a byelection “that will pitch it against the Greens” in the constituency of former prime minister Sir Keir Starmer. The newspaper continues: “The move, described by one Labour figure as a ‘political decision’…means a further delay to the Jackdaw project, which has been subject to years of legal and political wrangling.” However, “one Labour official disputed that the announcement on Jackdaw…had been delayed, arguing that a firm date for a decision had never been set”, the article adds. Green party leader Zack Polanski – who will contest the seat for his party – has said a vote for him would be a vote against Jackdaw, reports the Guardian. The delayed decision is also covered by the Guardian, Sun, Daily Telegraph and Reuters, as well as making the Daily Mail’s frontpage.
The Times reports on a survey of more than 100 economists and policy researchers suggesting “eight in 10” back the approval of new oil and gas licences in the North Sea. A separate poll, also covered by the Times, says that “seven in 10” people in Scotland are also in favour of new licences. The Guardian has mapped the “£150bn megaproject” to overhaul the UK electricity grid. More than 120 organisations, including businesses and charities, have called for the |
