Economy & Business

"Climate change poses “wide-ranging and material risks to the financial system,” a New York state agency is warning, and the insurance industry needs to be prepared."

"The White House on Tuesday said it would make 50 million barrels of oil available from the U.S. Strategic Petroleum Reserves to help cool oil prices."

"The Transportation and Climate Initiative — a cap-and-trade program covering cars in three Northeastern states and the District of Columbia — was abandoned last week after Connecticut Gov. Ned Lamont (D) and Massachusetts Gov. Charlie Baker (R) pulled the plug on the program."

"U.S. Federal Reserve Chair Jerome Powell underscored his commitment to putting climate change at the center of the central bank's policymaking decisions during his conversations with President Joe Biden, the White House said on Monday."

"It's not the Biden administration's energy policies nor Big Oil illegally manipulating prices."

"On Wednesday, amid a fresh surge in gas prices, the Biden administration announced that it had asked the FTC to investigate whether oil and gas companies were doing anything illegal to manipulate prices. Republicans have countered that it’s a cheap political stunt and blamed President Joe Biden’s energy policies.

"The tax credits that underwrote America’s renewable energy revolution are set for a makeover as part of the $1.75 trillion reconciliation bill."

"John Kerry, the U.S. special envoy for climate change, on Friday described fossil fuel subsidies as the “definition of insanity,” denouncing measures taken by governments that artificially lower the price of coal, oil or gas."

"Talks on creating a global carbon market ran into new obstacles, highlighting how difficult it will be to break a six-year deadlock on an issue seen as a key benchmark of success for COP26."