economy
Daily on Energy: Randy Weber’s plea for the Jones Act
WHAT’S HAPPENING TODAY: Good afternoon and happy Tuesday readers! Temperatures are on the rise in the East Coast as a summer heatwave is rolling through the area. If you are on the East Coast, here are some ways to stay cool this week. 🩹☀️
TL;DR
- Rep. Randy Weber opposes the normalization of Jones Act waivers, emphasizing the importance of American shipping and sailors.
- The Trump administration has issued Jones Act waivers to lower energy prices, but Weber believes they should be revoked quickly.
- The World Bank is retiring its 45% climate co-benefits target, a move that could hinder global climate mitigation efforts.
- The Trump administration is pressuring oil and gas companies and retailers to lower gasoline prices for consumers.
- BP's deputy chief executive officer, Carol Howle, is retiring amid significant management shakeups at the company.
- The FCC is drafting a rule to ban foreign-made inverters, citing concerns about potential disruption of the U.S. power grid by China.
- A survey indicates voters support AI development but believe Big Tech should pay for the high electricity consumption of data centers.
- San Marcos, Texas, became the first city to ban data centers, but the ban is being challenged by a state senator.