Category: Energy Department

Energy Department Will Loan $2 Billion to Redwood Materials

The New York Times – Business:
The loan will help accelerate Redwood Materials’ plans to produce components for electric car batteries from new and recycled sources.
Biden Administration to Buy Three Million Barrels of Oil

The New York Times – Business:
The move appears to signal an end to the government’s effort to sell oil from a strategic reserve to help tamp down energy prices, which soared after Russia’s invasion of Ukraine.
US Approves Aid to Extend Life of California Nuclear Plant

The New York Times – Business:
The Energy Department’s grant of $1.1 billion is the latest step that could keep the reactor in operation beyond its scheduled shutdown in 2025.
Ahead of the Midterms, Energy Lobbyists Plan for a Republican House

The New York Times – Business:
The oil and gas industry is already setting priorities for at least partial G.O.P. control in Congress, with a particular focus on undercutting a Biden administration program to shift away from gas for home heating.
Biden Expands Effort to Lower Gas Prices and Secure Energy Independence

The New York Times – Business:
Draining of emergency oil reserves draws criticism that the White House is trying to lower gas prices with midterm election politics in mind.
U.S. to Release Millions More Barrels of Oil to Contain Gas Prices

The New York Times – Business:
The Department of Energy will release 15 million more barrels from the Strategic Petroleum Reserve and plans additional releases this winter.
Charles W. Duncan Jr., Energy Secretary in Oil Crisis, Is Dead at 96

The New York Times – Business:
Heir to a Houston coffee fortune and a former president of Coca-Cola, he joined President Jimmy Carter’s cabinet in 1979 as oil shortages roiled the nation.