** A backup of more than 2,000 boats and barges on the Mississippi River is being cleared as two closures along the waterway reopened on Sunday.
** In an opinion piece, Rep. Ro Khanna (D-Calif.) and Sen. Richard Blumenthal (D-Conn.) proposed pausing arm sales to Saudi Arabia in a move to urgently “fortify” national security, after the Organization of the Petroleum Exporting Countries last week decided to cut crude production by 2 million barrels per day starting in November.
** US gas prices could keep rising after OPEC+ slashed output, but prices could fall in some states. That’s because refinery issues in key states get resolved, and winter season dampens gas demand.
** Despite efforts from the United States and Europe to increase the domestic production of EV batteries, the market is still dominated by Asian suppliers. The top 10 producers are all Asian companies.
** A new study by Bloomberg NEF says the changes in the electric vehicle tax credit passed in August will speed up the switch to electric vehicles with more than half of new car sales by 2030.
** US Treasury Secretary Janet Yellen said the decision by Saudi Arabia and its OPEC+ allies to cut oil output was inappropriate and harms the global economy, reinforcing the Biden administration’s strong criticism of the move.
** Former U.S. Ambassador to the United Nations Nikki Haley said Sunday that President Biden should not have been surprised that ministers from Organization of the Petroleum Exporting Countries (OPEC+) decided to cut oil production – in fact, she implied it could have been done just to spite him.
** California Gov. Gavin Newsom (D) announced Friday that he plans to call a special session of the state legislature in December to impose a tax on oil companies’ profits as gas prices remain at record levels in the state.
** An Iowa judge denies a carbon pipeline developer’s request for a temporary injunction that would have allowed its surveyors to enter private property of landowners who previously denied them access.
** Electric truck and SUV startup Rivian is recalling almost all of the roughly 13,000 vehicles it has delivered so far to tighten a component that could affect drivers’ ability to steer.
World
** European gas prices dropped to a three-month low on Monday as EU countries rush to replace lost Russian pipeline gas supply with liquefied natural gas (LNG) imports.
** London-listed firm Energean on Sunday began testing pipes between Israel and the Karish offshore gas field, a key step towards production from the eastern Mediterranean site, a source of friction between neighbours Israel and Lebanon.
