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U.S. - ENERGY
Biden-Harris Administration Announces $1.3 Billion to Build Out Nation’s Electric Transmission and Releases New Study Identifying Critical Grid Needs: President Biden’s Investing in America Agenda will support three interregional transmission lines across six states creating thousands of high-quality jobs and expanding access to cheap and reliable clean energy.
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U.S. - NATURAL GAS-BARRONS
Southwest Gas, Algonquin Power See Activist Action: Corvex Management raised its investment in energy firm Southwest Gas. Starboard Value bought more shares of electric utility Algonquin Power.
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U.S. - NATURAL GAS-WSJ
Analysts Expect 79 Billion Cubic-Foot Rise in U.S. Natural Gas Inventories: Government data are expected to show that U.S. natural gas inventories rose by 79.2 billion cubic feet in the latest week, according to a survey of analysts.
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COMMODITIES - BARRONS
Strike Blocks Key Cargo Route. What's at Stake: A number of commodities and agricultural products are shipped through the St. Lawrence Seaway.
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ELECTRIC VEHICLE - BARRONS
Graphite Is China’s New Trade Weapon: China’s increased controls on graphite, which are used in electric-vehicle batteries, could hurt U.S. auto makers shifting to EVs. The move could also hurt China’s economy.
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RENEWABLES – WIND - BARRONS
Siemens Energy Shares Plunge on Wind Warning: Siemens Energy shares lost almost a third of their value after the company said losses at its wind-turbine business in fiscal 2024 would be worse than current market expectations, as it works through quality issues and ramp-up challenges in offshore.
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NATURAL GAS STOCKS - FORBES
Chevron Buys Hess As The U.S. Oil Merger Train Gains Steam: Less than two weeks after ExxonMobil’s XOM 0.0% all-stock buyout of Permian Basin giant Pioneer Natural Resources PXD -0.1%, fellow U.S. major Chevron CVX +0.8% said it is buying New York City-based independent Hess HES +1% Corp. in another all-stock transaction. The acquisition of Hess will not only make Chevron a major player in the Bakken Shale basin in North Dakota and Montana, but also make it a 30% partner in the gigantic Stabroek block offshore Guyana in which ExxonMobil serves as operator.
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CLEAN ENERGY - FORBES
Hydrogen Is Our Best Bet To Decarbonize Heavy Industry, U.S. Energy Secretary Says: The U.S. government is making an unprecedented push to invest in clean hydrogen as part of its efforts to cut greenhouse gas pollution. Energy Secretary Jennifer Granholm tells Forbes that the government believes fuel will be crucial in decarbonizing heavy industrial processes, particularly steel and ammonia production.
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