** The Supreme Court began hearing arguments Monday in a high-stakes case for President Biden’s climate agenda that will determine the EPA’s authority to regulate power plant emissions.
** President Biden’s nomination of Ketanji Brown Jackson to the Supreme Court could affect a case regarding the social cost of carbon that she’s currently weighing on a federal court.
** Exxon Mobil Corp said a 10-month lockout of union workers at a southeast Texas refinery would end on March 7 following acceptance of a return-to-work agreement on Saturday.
** Shares of Renewable Energy Group Inc. soared 32.6% in premarket trade Monday, after announcing an agreement for Chevron Corp. to acquire the company in an all-cash deal valued at $3.15 billion.
** The federal Bureau of Land Management rejects the Walker Ridge wind project proposed adjacent to a northern California national monument, citing potential resource conflicts.
** Ohio-based electric vehicle startup Lordstown Motors plans to sell its first 500 electric pickup trucks this year followed by a five-fold increase in 2023.
World
** Exxon Mobil likely will face new pressure to severe ties with Russia’s largest oil producer, said analysts, after rival BP agreed to unload a Rosneft stake. BP on Sunday said it would take a $25 billion writedown to abandon its Rosneft holdings.
** Iraq stopped oil production from two southern fields with a combined capacity of almost half a million barrels a day. The shutdowns curtail the ability of OPEC’s second-largest member to pump crude just as Russia’s invasion of Ukraine and tight supplies globally send prices soaring.
** Germany will make good on plans to build two liquefied natural gas (LNG) terminals and up its natural gas reserves to cut its dependence on Russian gas after Russia’s invasion of Ukraine, Chancellor Olaf Scholz said on Sunday.