Ahead of what’s expected to be the Federal Reserve’s final interest-rate decision for 2024, the S&P 500 dipped 0.2%, while the Nasdaq stayed flat. A “hawkish cut” of 25 basis points is expected. The 10-year Treasury yield rose to 4.42%, and Brent crude oil fell to $73/barrel.
In the U.S., efforts to finalize a permitting deal for the energy grid are stalling, with lawmakers struggling to secure an agreement. Implications include- regulatory uncertainty, increased costs for electricity and delayed renewable & transmission projects. (E&E News article noted below).
In Texas, many are watching what President-Elect Donald Trump might do to a long-anticipated federal climate rule that requires oil and gas operators to dramatically reduce how much methane is released in many oil fields. The rule – written with support from the energy industry – calls on operators to locate and fix equipment leaking methane and curb flaring. Rolling back the new rule would take years to implement, and current industry support for the rule might help keep it in effect.
Zooming out, amid global chaos, Austria and Germany challenge the EU’s nuclear power classification as “green.” While we see that Japan is embracing nuclear in its energy policy. Poland aims to eliminate coal by 2032.
A last-gasp effort to attach a permitting package to year-end spending and disaster legislation has failed, several people familiar with the situation told POLITICO’s E&E News. Others say talks are still ongoing.
www.eenews.net/...
