House Speaker Nancy Pelosi (D-Calif.) said Thursday she supports banning oil import from Russia in response to Moscow's unprovoked invasion of Ukraine.
Why it matters: The U.S. and its allies have sanctioned many Russian oligarchs, banks and large parts of the country's economy but have stopped short of direct sanctions on Russia's oil and gas exports over fears of energy costs spiraling even higher.
French authorities announced Thursday that they seized a yacht owned by Russian energy oligarch Igor Sechin.
Why it matters: Sechin is CEO of Rosneft, Russia's massive state oil and gas company, and a longtime close ally and adviser of President Vladimir Putin, according to the European Union. He has been financially sanctioned by multiple countries after Russia's unprovoked invasion of Ukraine.
A team of former Space-X engineers and boating enthusiasts is aiming to transform recreational boating with a new speedboat that zips across the water on electricity instead of gas or diesel fuel.
Why it matters: Like automobiles, motorcycles and small airplanes, boats are beginning to go electric, which could make lakes and rivers more serene — and less polluted.
The Biden administration asked Israel three weeks ago if it could help mitigate possible natural gas shortages in Europe in anticipation of a Russian invasion of Ukraine, a senior Israeli official told me.
Why it matters: The U.S. outreach to Israel was part of a wider effort by the Biden administration to prepare for a scenario where a war in Ukraine could lead Russia to cut natural gas supply to Europe, which could cause a severe energy crisis.
Lawmakers from both parties are pushing the White House to impose a ban on U.S. imports of oil and petroleum products from Russia, even as buyers are already steering clear of the country's crude.
Driving the news: Appeals or proposed bills are coming from lawmakers including Senate Energy Chairman Joe Manchin; a number of GOP lawmakers, and liberal Democratic Sen. Ed Markey.
Ford this morning said it's separating its electric vehicle and internal combustion businesses into separate units.
Why it matters: The creation of distinct business lines — called "Model e" and "Ford Blue" — underscores how auto giants are reorienting around EV development.
President Biden's State of the Union speech highlighted the White House political strategy on climate and energy markets as Russia's invasion of Ukraine sends oil prices skyward.
The Swiss-based company behind the Nord Stream 2 pipeline denied on Wednesday that it filed for bankruptcy but confirmed it terminated employee contracts.
Why it matters: Long viewed as a Kremlin influence project that would increase Europe's energy dependence on Russia, Nord Stream 2 was one of the first targets of the flurry of Western sanctions triggered by Vladimir Putin's invasion of Ukraine.
Tens of thousands of people in southeastern Australia were under evacuation orders Tuesday, as days of heavy flooding that have killed at least 12 people showed no signs of abating.
The big picture: Torrential rains that began last week triggered flooding that caused several towns in Queensland and New South Wales to be submerged. The storm system on Wednesday unleashed heavy rains on Sydney, where forecasters warned flooding was expected.
ExxonMobil pledged Tuesday to end its role in a major Russian oil-and-gas project and cease new investments in the country due to its invasion of Ukraine.
Why it matters: ExxonMobil is among the world's most powerful oil companies and has longstanding investments and operations in Russia.
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