Biden Administration Eases Oil Sanctions on Venezuela After Election Negotiations
On Wednesday, October 18th the Biden Administration announced that it is easing sanctions against companies that trade oil produced in Venezuela or invest in its oil industry. The United States has imposed sanctions against the Venezuelan government or individuals for more than 15 years, but significantly tightened them in early 2019 after declaring Maduro’s 2018 victory illegitimate. This new deal comes in response to Venezuela announcing they will allow free elections next year, 2024.
A Very Dangerous Time For America To Be Without One Of Its Leaders
On Thursday, October 12, Rep. Steve Scalise withdrew his name for consideration as speaker of the House. Scalise had won the nomination for Speaker Republican conference approval 113-99 (212 total) on Wednesday, October 11th. On October 13, the House met again and in a 124-81 (205 total) vote, Republicans picked Jordan over Rep. Austin Scott (R., Ga.), a low-profile Republican who made a last-minute decision to run as the candidate for Jordan critics.
Oil Prices Hit 10-Month High
Yesterday, September 18th, the price per barrel neared $95, reaching a new 10-month high. This increase is up from $72 a barrel at its lowest in June, this difference marks the largest jump since Russia’s invasion of Ukraine. Rising crude oil prices directly impact higher prices at the gas pump, one of the most visible hallmarks of inflation.
United Auto Workers Go On Strike
On Friday, September 15th, about 13,000 US auto workers stopped making vehicles and began their strike after failures to negotiate between United Auto Workers (UAW) and Detroit's big three automakers. Members of UAW began picketing at a General Motors assembly plant in Wentzville, Missouri; a Ford factory in Wayne, Michigan; and Stellantis Jeep in Toledo, Ohio.
The Rise of Geothermal Energy
Geothermal has historically struggled to make a name for itself in the clean energy space. However, in recent years, various companies and projects have emerged that are dedicated to exploring the possibilities that geothermal energy presents.
Price Check: Labor Day Holiday Offers Opportunity for Travel Costs Assessment
As Labor Day Weekend approaches and many families seek to enjoy the final few weeks of summer vacation, lets take a look at where fuel costs for transportation are impacting the cost of travel this Summer compared to recent years.
Congress Tackles Permitting Reform
The last week of July saw new activity in the U.S. Senate on the issue of additional permitting reform for pipelines and electric transmission. Chairman Joe Manchin (D-WV) held a hearing and Majority Leader Chuck Schumer (D-NY) chided the Federal Energy Regulatory Commission (FERC) for not utilizing their existing authority to expedite new electric transmission. Here is an overview of where permitting reform stands as August recess comes to an end.
Congress Tackles Permitting Reform
This last week featured new activity in the U.S. Senate on the issue of additional permitting reform for pipelines and electric transmission.
UPS Workers Vote to Strike - What that Means to Americans
UPS and the Teamsters Union walked away from the negotiating table this week inching closer to a possible strike. The last time UPS Teamsters went on strike was in 1997 and that 15-day strike was devastating for the company and created significant disruptions across the country. A strike now at UPS is even more of a threat to American supply chains and our economy.
Smoke Signals & Taxing Events
It was a busy week in the nation’s capital. The Constitution Partners team reviewed the major events driving American public policy and business interests, and have provided a summarized overview for your review.
Interagency Collaboration on Hydrogen Tax Matters as Biden Administration Publishes First Strategic Roadmap
Technical experts from the Department of Energy are weighing in on how the Treasury Department should devise a production tax credit for hydrogen.
Congress Finally Passes Debt Ceiling Compromise - What's Next?
Late last week, the Senate passed legislation to suspend the debt ceiling and restrict government spending through the 2024 election, ending a drama that threatened a global financial crisis. The measure was signed Saturday by President Joe Biden, who forged the deal with Speaker Kevin McCarthy (R-CA) and plans to sign it just days before a looming U.S. default.
Deep Dive: Fiscal Responsibility Act of 2023
Chief negotiators worked over the weekend to put together a debt ceiling agreement to take to Congress for consideration by legislators. While a deal was announced around 9pm EST Saturday evening, the legislative text of the Fiscal Responsibility Act was only published on Sunday evening. Constitution Partners reviewed the legislative proposal and has the following analysis.
Energy Department Launches New Clean Fuels & Products Effort
On May 24, the Department of Energy announced a new ‘EarthShot’ to find low-carbon alternatives to petroleum-based transportation fuels and chemical feedstocks for plastics. In addition to identifying five critical research areas, the announcement set specific emissions reduction targets for year 2050.
White House Takes On Artificial Intelligence; Releases New A.I. RFI
The Biden Administration has rolled out an updated “National AI R&D Strategic Plan,” which nine focus areas for federal AI efforts. The White House's announcement this week also includes a new RFI on the matter, as well as an update on AI from the Department of Education.