Crude prices are increasingly at risk from geopolitical factors that are getting harder to control.
Driving the news: Continued conflict in the Red Sea is hampering global supply chains, which leads to higher prices. Meanwhile, waylaid shipments — which include barrels of crude supplies — are being forced to find alternate routes to their final destinations.
The Biden administration's environmental crowd-pleasing crusade against carbon emissions is obscuring a very inconvenient truth about U.S. energy policy: oil and gas production are way up.
Why it matters: President Biden's assertive environmental policy is helping to fortify his (vulnerable) left flank with restive environmental activists, and drawing pushback from critics.
Why it matters: The data suggests climate change is rippling through entire economies, instead of affecting the availability or price of particular goods.
The Energy Department plans to award up to $6 billion across 33 projects to wring carbon dioxide from heavy industries like metals, chemicals, and cement.
Why it matters: It's the "single largest industrial decarbonization investment in American history," DOE boss Jennifer Granholm told reporters.
Why it matters: Of roughly 4,600 prospective buyers Zillow surveyed nationwide last spring, over 80% said they considered at least one climate risk when shopping.
