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Maersk Shipping Group resumes service in the Red Sea
Maersk, a Danish shipping company, announced 'on Monday that it will re-start sailing through the Red Sea to provide another of its services. This is part of the group’s gradual return of using the Suez Canal as a shortcut between Asia and Europe. In a press release, the company announced that it would resume its WAF6 service. This service is operated solely by Maersk and connects the Middle East, Mediterranean, and West Africa. Maersk stated that "this change marks another small step in the gradual return of trans-Suez traffic." After attacks by Yemen's Houthis in the Red Sea, most shipping companies abandoned the Asia to Europe trade corridor through the Suez Canal. This forced vessels to take the?much?longer route around Africa's Cape of Good Hope. Some carriers have recently started a 'gradual return' to the corridor. Maersk, for example, announced on Thursday that it will re-establish its Middle East-to U.S. East Coast route through the Suez Canal. (Reporting and editing by Terje Solsvik, Louise Rasmussen)
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Chesapeake Utilities to build Florida gas pipeline worth $1.2 billion
Chesapeake Utilities announced on Monday that its subsidiary Peninsula Pipeline Company will 'develop, build and operate' a natural gas pipeline in Florida at a cost of about $1.2 billion. It said that the project would help increase natural gas transport capacity in order to alleviate regional supply shortages. Utilities are investing in new infrastructure for reliability and to support the?growing needs of residential, commercial, and power generation. Florida Energy?Pathway will be a 24-inch pipeline connecting Palm Beach?to Miami -Dade counties. It is supported by 250,000?dekatherms of?firm shipping agreements per day. Chesapeake Utilities said that the project is expected to be operational in 2030, subjected to final commissioning. It plans to partner up with one or two third parties, who could own as much as 49% of the project. The company stated that the project represents a long-term growth opportunity in a regulated environment and builds on its expanded presence in South Florida after it acquired Florida City Gas. Florida continues to be the leader in economic and population growth, driving an increase in energy demand. In the south Florida region, this has resulted in a'significant energy shortage' according to CEO Jeff Householder. (Reporting and editing by Katha Kaalia in Bengaluru, Leroy Leo, and Devika Syamanath).
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Hormuz traffic drops to a two-month low after renewed US and Iran strikes raise safety risks
Shipping data revealed that the number of tankers traversing the Strait of Hormuz dropped to its lowest level in two months in the last day, after renewed strikes between Iran and the U.S.?and attacks against vessels raised safety concerns. Shipping industry sources say that vessels are increasingly turning off their public AIS?transponders. This makes it difficult to count the total number of ships on the waterway. According to Kpler's analysis, based on the data available, oil and gas tanker traffic has fallen to its lowest levels since May 25. In a recent report, ship broker Gibson stated that the world would be in a worse position if the renewed escalation of the strait led to another extended closure of Hormuz. The global inventory has been rapidly depleted over the past few months. This is a recipe that will lead to a much tighter market, higher prices, and heightened downside risks for tanker markets. According to LSEG's and MarineTraffic's?ship tracking data, the Sea Faith oil tanker had a destination of Sohar. In an advisory issued on Sunday, the Joint Maritime Information Center of the U.S. Navy (JMIC) reported that commercial traffic in the Strait of Hormuz had "continued to be reduced". The traffic patterns continue to reflect operator caution after recent attacks. Satellite imagery of July 11, reviewed by, shows that at least three pairs of tanks were involved in ship to ship transfers outside of Hormuz in the Gulf of Oman. Transfers from ship to ship (STS), as the name suggests, involve oil being transferred from one vessel into another. Since the conflict began in February, STS transfers have allowed faster oil deliveries to?waiting ships who do not have to travel through Hormuz. One shipping official stated on Monday that "some ships are slipping into and out". The source stated that "this has to be seen as a managed war now, similar to the Houthis at the Red Sea," referring to Yemeni militias who paralysed the traffic through the Bab al Mandeb Waterway for almost two years, before calling a truce in 2026. TRUMP AND IRAN DIFFER ON STRAIT STATUS Central Command reported that U.S. Forces completed another round of strikes on Iran Sunday, hitting multiple targets in different locations with precision munitions. Donald Trump, the U.S. president, said that the Strait of Hormuz was open for commercial traffic on Sunday. Iran had earlier declared that the strait was closed after an Iranian vessel struck a ship that was travelling on a route that wasn't approved. The?Revolutionary Guards of Iran said Monday that two ships were stopped in the Strait of Hormuz by their navy last night after shutting down?their?systems. The?Revolutionary Guards did not name the ships. JMIC reported that an unknown projectile caused damage to a container ship on Sunday. The fire was started in the engine room. TRAFFIC SLOWDOWN Kpler data showed that six vessels crossed the strait Sunday, the lowest number for five weeks. The data revealed that the Very Large Crude Carrier Humanity was loaded with 2,000,000 barrels Iranian oil and another tanker called Capetan Andreas carried about 500,000 barrels Kuwaiti oil. Three empty tankers were also seen entering the Gulf to load oil. The data showed that most of the tankers turned off their transponders as they crossed the strait. Ship-tracking data shows that no liquefied?gas tanks entered the Strait of Gibraltar over the weekend. Kpler data indicated that between July 10th and 12th, one tanker owned by Abu Dhabi National Oil Co left the strait. The vessel was headed for Dahej in India. Reporting by Jonathan Saul and Florence Tan; Editing and editing by Lincoln Feast, Ros Russell, and Siyi Liu
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Lazard reports that solar costs have risen 18% but are still the lowest cost generation.
Solar power project costs in the United States have risen 18% since a year ago, as tariffs and high interest rates are taking hold. However, renewable energy sources remain the most cost-effective way to generate 'new' electricity, according to a report published on Monday by the financial advisory firm Lazard. The levelized cost energy of new combined-cycle gas plants, which is a measure for the average cost to generate electricity over the lifetime of a power station, has reached a 15-year-high. Lazard warns that costs may rise further due to equipment shortages and the booming demand for power. The record-breaking?demand for electricity in the United States, driven by the growth of data centers and the electrification sectors like transportation, has led to a need for new generating capacity, while increasing development costs. Lazard discovered that the levelized costs, or average cost to produce a unit of electricity over the life of a power station, for utility-scale solar increased from $38-$92 a year earlier. Samuel Scroggins said that levelized costs of solar and storage increased because of a variety of factors. Higher capital costs, higher interest rates, and inflationary pressures such as tariff pass through and repricing supply chains are all factors. Solar and onshore winds, which are relatively quick to deploy, will still account for the majority of new U.S. generation capacity in the near future. Solar and wind projects are still competitive even after calculating the cost of a backup system to guarantee?reliability'. This highlights?the important role that renewables will play in meeting increasing power demand. The levelized price of electricity generated by 'combined cycle natural gas plants', which use gas to power one turbine and steam to power a second, has risen to $51 to $129 per MWh. Utility companies and power developers were attracted to the generation source because of its constant output.
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Maguire: Mid-year checkup of the US power system vital signs
If the U.S. energy sector underwent a mid-year checkup,?the verdict would be positive: vital signs are improving, clean energy is steadily growing, and certain long-standing illnesses?are becoming more severe. The transition is not yet complete, but trends remain in the right directions. As the system becomes cleaner, total electricity production continues to grow. According to the energy think-tank Ember, total electricity production?from January through July was 2,234 Terawatt Hours (TWh),?the highest for that half year period. This marks a nearly 3 percent increase from the previous year. According to the Energy Information Administration (EIA), a large part of this growth will be driven by AI-hungry, data centers, and electrification. The EIA expects U.S. electricity consumption to reach record highs in 2026-2027 for the third and fourth consecutive years. The rapid expansion of the electricity supply appears to be a sign of a healthy patient. Before assuming that a patient is in good health, it's important to examine the vital signs. VITAL SIGN 1: CLEAN POWER APPROACHING PRIMARY STATUS Clean electricity is now regularly producing more power than fossil-fuels. This is the clearest sign that progress has been made. According to Ember, from March through May, clean energy sources generated more than 50% of the electricity supplied by U.S. utilities, which is the longest stretch ever recorded. Clean sources provided 46.4% all of the electricity in June. This is when summer demand increases gas-fired power generation. This?compares to 42.4% in 2025 and 41.7% of June 2024. It indicates sustained clean-power development despite the aggressive push by the U.S. government to promote fossil fuels instead of renewables. Diagnose: Clean power is becoming the predominant source of energy during the key months of the calendar year. VITAL SIGN 2: SOLAR STRENGTH Solar power is the fastest growing part of our energy system. According to Ember, solar power generation in the first half of this year reached 231 TWh. Solar generation in June 2025 will be around 41.5 TWh. The first half of last year's output totaled 190 TWh - a growth rate year-on year of over 20%. Solar's share in the?U.S. The generation mix also reached new heights. Since March, solar has consistently represented more than 10% of all utility mixes. Diagnosis : Solar power has evolved into a major contributor to the U.S. energy system. VITAL SIGN 3: COAL CONTINUES TO SHRINK The oldest chronic disease in the sector continues to decline. Coal's contribution to generation has fallen from 32% at the beginning of 2016 to only 11.7% by April 2026. In April 2026, coal-fired electricity generation will total only 39.8 tWh compared to more than 113 tWh in January 2016 The high summer temperatures, coupled with the demand for air conditioners that consume a lot of power, have increased coal-fired production. However, its output year-to date is still around 11% lower than last year. Diagnosis : Coal is still a part of the mix for generation, but it's no longer an essential resource. VITAL SIGN 4: POLLUTION KEEPS FALLING The changing generation mix is affecting emissions. According to Ember, the total power-sector emission in June was just under 146 million tons of carbon dioxide or equivalent gases. This is down from almost 154 million tonnes in June 2025. The power sector emissions have fallen by about 5% compared to a year earlier despite an increase in the overall electricity output. Spring 2026 has delivered some of the best results in the dataset, with emissions totaling just 114 millions tons in March, and 109 millions tons in April. Diagnosis : Cleaner generation is resulting in real emission reductions and not just cleaner capacity additions. VITAL SIGN 5: NATURAL GAS REMAINS KEY Not all indicators point to a successful transition. During the first half 2026, natural gas will still generate 39% to 40% of U.S. electric power. In June 2026, gas-fired production reached 162 TWh, underscoring the role it continues to play in meeting demand and balancing out renewable output. Gas has been marketed as a "bridge" fuel for many years. It is still hard to replace in the top gas producing country of the world because it can increase output quickly when demand increases or renewable energy sources fall. Diagnosis : Although the patient is in better health, it still relies on gas for its primary source of dispatchable energy. CLOSING PROGNOSIS The mid-year review shows that the electricity system is undergoing a gradual transformation, rather than a radical revolution. Solar has surpassed coal as a heavyweight and emissions are continuing to fall. The U.S. grid is becoming less fossil fuel-powered and more clean-powered with each passing year. The opinions expressed are those of a columnist, the author. This column is a great read! Open Interest (ROI) is your new essential source of global financial commentary. Follow ROI on LinkedIn, X and X. Listen to the Morning Bid podcast daily on Apple, Spotify or the app. Subscribe to the Morning Bid podcast and hear journalists discussing the latest news in finance and markets 7 days a weeks.
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China's first five-year plan aims to boost consumption
China has set a target of retail sales of 60 trillion yuan (8.85 trillion dollars) by 2030 as part a five-year plan to increase consumption and raise household incomes. The plan, which was approved by the State Council on Monday and released, aims to increase service consumption in elderly care, childcare and healthcare, as well as?culture, sport, tourism and education. The report also calls for a stronger?tourism related spending, an increase in visa-free entries to more countries and?more international direct flights to Europe and the U.S., as well as countries participating in?Belt and Road Initiative. China's first 5-year plan aimed at boosting consumption aims to increase consumption rates and the role of consumption in driving economic growth. Beijing will promote a new generation of consumption models, including AI-powered consumption and green consumption. The plan highlights the need for households to increase their spending power through stronger employment, higher wages and more property income. According to the plan, China has pledged to remove any "unreasonable restrictions" on areas like car purchases, housing, and approvals for entertainment events. The plan stated that fiscal and financial policies should place greater emphasis on direct benefits to consumers, livelihood spending, and infrastructure related to consumption.
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Bousso: Cheap drones are a weak point for the global economy.
Drones are cheap, mass-produced and have revolutionized modern warfare. They expose critical energy infrastructures as the Achilles heel of modern economies. Unmanned aircraft are able to evade air defences on the battlefields in Ukraine, Russia, and the Middle East. This makes oil refineries and power stations as well as export terminals and pipelines prime targets. The energy industry is affected by the implications. Swarms of drones, which cost a few hundred dollars up to several thousand dollars each, can threaten facilities that have taken decades and billions to build. This will dramatically shift the balance of power between attackers and defenders. Iran is a clear example of this new reality. Since the 'conflict between the U.S., Israel and Iran began on February 28, Tehran has used drones repeatedly to disrupt shipping in the Strait of Hormuz. Before the war, the narrow waterway was responsible for around a fifth (or more) of the world's oil and gas supply. The attacks have thrown into question a long-held belief that the Strait could not be closed without a strong naval presence. Gulf producers have been forced to re-evaluate long-standing plans for reducing their dependence on Hormuz. Governments across the Gulf are scrambling for thousands of kilometers of pipelines that will allow crude oil and natural gas to bypass the Strait. Every kilometer of pipeline, pumping stations or power substations creates a new target for drone attacks that are becoming more sophisticated. Iran has already targeted dozens of refineries and liquefied gas (LNG), power stations, and LNG plants in the region. It also proved that it could quickly manufacture new drones even during wartime. Ironically, energy security measures could create new vulnerabilities. And the danger extends well beyond the Middle East. UKRAINIAN SWARMS The destructive power of drones has never been more evident than in Ukraine. Kyiv launched a swarm of long-range drones in recent months against fuel depots, refineries and energy facilities deep within Russia. This disrupted fuel supplies, and showed that strategic infrastructure could be struck far from the front lines. Ukraine is also building a massive domestic drone industry. Ukraine produces hundreds of thousands low-cost drones each month. This shows how quickly the technology has become commoditised. The proliferation of drones, which are cheap and easy to use, is forcing governments to rethink their national defense. NATO members have announced that they will invest $40 billion over the next 5 years in counter-drone capability and train 5 times more drone operators by 2027. The technologies being developed include advanced radars, communications-jamming systems, interceptor drones, directed-energy weapons such as lasers, and specialised missile systems designed to destroy unmanned aircraft before they ?reach their targets. NATO stated that drones had fundamentally changed the nature of modern warfare, and have become a decisive force on the battlefield. Effective defence depends on the ability of quickly detecting, identifying, and neutralising drones. EXPAND ON YOUR OWN RISK The wars in Ukraine, Iran and other countries have revealed the vulnerability of vital infrastructures around the globe. This includes energy facilities, telecommunications systems, transport systems and electricity grids. In recent years, European authorities have reported an increase in the number of suspected Russian sabotages and hybrid attacks against offshore energy installations and rail networks. In the Middle East, the need for effective countermeasures has become more urgent because Iran could threaten to cut off Gulf producers' revenues by closing down the Strait of Hormuz. In order to counteract this, it is important to establish or expand alternative routes. Saudi Arabia considers expanding its crude oil pipeline, which connects the eastern oilfields of the kingdom with the Red Sea Coast. This would bypass the strait. During the Iran War, the East-West Pipeline proved to be a lifesaver, allowing Saudi Arabia continue exporting over 4 million barrels despite the disruption. This is more than half its pre-war levels. United Arab Emirates has also expanded the pipeline that connects its oilfields with the port of Fujairah, outside the strait. Iraq and Kuwait have explored similar projects. This infrastructure can reduce the risk of a single strategic point being targeted, but it also creates an extensive network that is harder to defend. Energy companies now consider the risks of drone attacks, as well as other unconventional warfare methods when deciding where to build and protect their assets. Some companies may decide to purchase their own drone defense systems, now that they know that their assets could be targeted. ECHOES FROM WORLD WAR I Drone technology has fundamentally changed the balance of the battlefield because traditional air-defence system are often ill suited to counter small low-flying planes and are, importantly,?exponentially expensive than the drones that they are trying stop. This dynamic has echoes from World War One when barbed wire, machine guns and artillery shook up centuries of military doctrine that relied on mass infantry assaults. A handful of soldiers with machine guns were able to slay hundreds of attackers who crossed open terrain. It was a bloody war of trenches and years on the Western Front. Only after the armies had developed new technologies, notably combat aircraft and tanks, were they able to finally break through?the impasse. As governments and military forces develop more effective countermeasures, the current drone threat is likely to play out in a similar way. For now, however, the economic and tactical equations favor the attacker. This leaves one of the most important industries in the world facing a difficult reality: a relatively inexpensive technology can threaten installations worth billions. Drones will continue exposing the vulnerable underbelly to global economies until this imbalance is corrected. You like this column? Check out Open Interest, your new essential source for global financial commentary. Follow ROI on LinkedIn and X. Listen to the Morning Bid podcast daily on Apple, Spotify or the app. Subscribe to the Morning Bid podcast and hear journalists discussing the latest news in finance and markets seven days a weeks.
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EU imports record LNG volume from Russia's largest plant
EU data revealed on Monday that the European Union imported record volumes of liquefied gas from Russia's Yamal facility during the first half of this year. This is ahead a ban which will come into effect in 2019. The EU banned Russian LNG imports from April, but imports of long-term contracts are allowed until January 1, 2027. According to data from commodities intelligence company Kpler, EU countries imported 136 loads containing 9.97 metric tons of LNG from Yamal between January and June, an increase of 16% over the same period in the previous year. Novatek, a private Russian company, controls the Yamal LNG project located in western Arctic Russia. China's CNPC, France's TotalEnergies and China's CNPC also have stakes. According to an analysis by Urgewald, more than 97% (of the deliveries from the Yamal facility between January and June) went to EU ports. The group said that it showed "the extent of Europe's support" for Russia's LNG industry, while the EU supports Ukraine in its war with Russia. Urgewald stated that the project absorbs almost all of the output from one of Russia’s most strategic LNG projects. MONEY FOR MOSCOW’S WAR EFFORTS Urgewald stated that EU LNG purchases from Yamal during the period January to June were estimated at EUR5.96 billion (6.82 billion), Urgewald. France, Belgium, and Spain were the top three destinations for LNG deliveries. The EU decided to ban all Russian gas imports after Moscow's full-scale invasion in 2022. The EU has decided to ban all Russian gas imports after Moscow's 2022 full-scale invasion. The deadline for ending pipeline imports will be September 2027. The Yamal deliveries are part of a larger trend in which Europe has increased its Russian gas imports during this year. According to the EU's Agency for the Cooperation of Energy Regulators, EU imports of Russian pipeline gas increased by 7% annually from January to May 2026. Russian LNG imports increased by 11%. The increase was attributed to a number of factors, including 'companies' front-loading their deliveries in anticipation of the EU ban and the EU prohibiting trans-shipments of Russian gas in 2025. This means that more volumes are left in Europe, rather than being shipped elsewhere.
Trump dislikes Biden's climate law. His allies are generating income from it
Donald Trump has actually guaranteed to gut U.S. President Joe Biden's. environment aids if elected. However much of Trump's allies are. taking advantage of them thanks to huge investments in solar power,. electrical lorries, carbon sequestration, hydrogen and other. clean energy technologies.
Reuters found at least 7 of Trump's close allies and. charity events, or the companies they run, hold hundreds of countless. dollars-worth of stakes in companies that are significant. beneficiaries of the tax breaks embedded in the Inflation. Reduction Act, Biden's signature climate law.
They include Trump's son-in-law Jared Kushner; his former. ambassador to China and continued ally Terry Branstad; and. companies run by informal energy advisor and oil magnate Harold. Hamm and powerful booster Howard Lutnick.
Big oil companies like Occidental Petroleum and. Energy Transfer, whose CEOs hosted a May fundraising event in. Houston for Trump's campaign with Hamm, likewise hold major. investments in projects that may just be feasible if Biden's tidy. energy tax credits make it through.
And Tesla, whose creator and CEO Elon Musk has actually been. improving Trump's campaign, is likewise benefiting massively from the. IRA's EV and solar credits.
Together, these individuals and business hold billions of. dollars in investments that receive the individual retirement account's financially rewarding tax. credits and stand to lose big if Trump is able to follow through. on his promise to gut Biden's climate law, according to Reuters. reporting.
The financial investments are very important due to the fact that they raise the. likelihood some of Trump's allies may ask him to maintain. elements of Biden's climate law if he wins the November election. against Democratic Vice President Kamala Harris. That would include. influential voices to some of the trade groups and legislators. that have actually currently stood up in favor of specific IRA subsidies.
None of individuals or business recognized were. willing to comment for this story on whether they would. intervene to preserve parts of the individual retirement account.
For the time being, Trump's intentions are clear.
My plan will end the Green New Offer, which I call the. Green New Rip-off, and rescind all unspent funds under the misnamed. Inflation Reduction Act, Trump stated when he unveiled elements. of his economic policy platform in a speech in September.
Trump Campaign Senior Advisor Brian Hughes told Reuters a. broad rollback of the IRA stays a leading concern if he wins the. Nov. 5 election, arguing the package has actually contributed to. inflation and broadened the deficit.
Rescinding any part of the individual retirement account would require an act of. Congress.
A group of 18 Republican legislators representing districts. that have drawn IRA-linked financial investments sent a letter to Home. Speaker Mike Johnson in August prompting him against withdrawing all. of the IRA if the party wins control of your home and Senate.
The White Home stated the individual retirement account produced more than 330,000 tasks. and that gutting it would hurt financial investments made in Republican. states.
By some price quotes, more of this investment is taking place in. red and purple states, White Home representative Angelo. Hernandez stated.
The Biden administration has actually currently worked to provide the. large bulk of IRA grants, however the law's tax credits are set. to continue for many years.
Other financiers and business involved in tidy energy. tasks are hopeful that Trump's campaign rhetoric gives way to. usefulness, must he win in November.
Innovators and energy companies we deal with want policy. predictability. They are making numerous millions in. investments due to the fact that of the individual retirement account, said Jeremy Harrell, CEO of. Washington-based conservative clean energy organization. ClearPath.
Frank Wolak, president of the Fuel Cell & & Hydrogen Energy. Association, stated it will be necessary for Congress to safeguard. the tax credits if Trump wins the election.
We're going to simply do some hard informing on the individual retirement account to. our congressional allies, he stated.
ALLIES WITH IRA ADVANTAGES
- MOSAIC
Trump's son-in-law and previous governmental advisor. Kushner's private equity fund Affinity Partners in 2022 invested. $ 200 million in Mosaic, a California-based supplier of financing. for solar energy and home performance enhancements, according to. financial investment information supplier PitchBook.
Established in 2011 as a crowdfunding startup, the business got a. increase from the individual retirement account's 30% tax credit for property solar, as. well as its customer rewards for photovoltaic panels, electrical heat. pumps and other efficiencies by raising consumer interest for. its clean energy loans.
- TOP CARBON SOLUTIONS
Oil tycoon Harold Hamm has actually long been an energy adviser and. political financier for Republican political leaders, consisting of Trump,. and in May hosted a Houston fundraiser for Trump's third. presidential project.
His company Continental Resources in 2022 made a $250. million strategic investment into Top Carbon Solutions, a. carbon capture and sequestration (CCS) project that will capture. CO2 from ethanol plants and other commercial sources in the. Midwest.
That project relies on the 45Q tax credit for numerous types. of CCS, which the individual retirement account increased greatly across the board.
Though the project was proposed before the individual retirement account was checked in. 2022, the enhanced tax credits could yield a $2.9 billion. windfall for Summit's financiers, according to Jake Schwitzer,. director of policy group North Star Policy Action.
Previous Iowa Governor Terry Branstad, who acted as Trump's. ambassador to China and stays a staunch ally, is Top's. primary policy consultant.
- TESLA
Tesla is a huge recipient of IRA tax credits. The. electrical lorry and solar business called the plan a. substantial increase towards accelerating our objective soon. after it passed into law in 2022, in spite of CEO Musk's public. hostility toward aids.
- OCCIDENTAL PETROLEUM
In addition to co-hosting the Texas fundraising event for Trump in. May, Occidental CEO Vicki Hollub went to a separate charity event. comprised of energy executives at Trump's Mar-a-Lago estate in. April. These events generated tens of millions for Trump's. campaign.
Occidental is a recipient of the 45Q carbon capture tax. credit and is a recipient of an Energy Department grant of. nearly $1 billion to construct a direct air capture (DAC) hub to. show that nascent innovation at scale. The company has. touted its technique to market so-called net-zero barrels of. oil.
In May, Hollub stated in a statement to Reuters: I have actually been. speaking with policymakers on both sides of the aisle, and will. continue to talk with them, to express our support for 45Q,. because it will help establish innovations like direct air. capture which eliminate carbon dioxide emissions from the. atmosphere and safeguard America's energy security.
- ENERGY TRANSFER
Energy Transfer's CEO Kelcy Warren is a long-time supporter. of Trump. The pipeline operator also takes part in projects. supported by IRA tax credits, including two organized Louisiana. CCS hubs, and a hydrogen hub in Texas that just recently won just. over $1 billion in Energy Department funding.
- CANTOR FITZGERALD
Trump's transition team co-chair Howard Lutnick is the. CEO of Cantor Fitzgerald, a major monetary services company that. has actually made substantial investments in business that benefit from. the individual retirement account.
As shift co-chair, Lutnick is playing an essential role in the. search for top-level appointees to staff a possible Trump. administration, and he has actually likewise functioned as a high-dollar. charity event for Trump.
Amongst the companies that Cantor Fitzgerald has invested in. that have benefited considerably from the individual retirement account are Invenergy, a. renewable energy company that is the top constituent of the Cantor. Fitzgerald Facilities Fund.
The infrastructure fund has over $150 million in total web. possessions, according to a July news release, and its financial investment in. Invenergy consists of 14.65% of that fund's overall investments.
The fund is likewise heavily invested in NextEra Energy,. the biggest U.S. renewable resource designer.
Both companies have praised the IRA as practical to their. businesses.
Cantor Fitzgerald has over $13 billion in possessions under. management and offers a broad selection of financial services.
(source: Reuters)