Energy quick reads

** The Biden administration announced $6 billion in funding Monday for projects that will slash emissions from the industrial sector — the largest-ever U.S. investment to decarbonize domestic industry to fight climate change.

** Sustainable energy company Avangrid unveiled its economic and fiscal impact report on March 1 and announced that its Kitty Hawk Wind project along the Atlantic Coast is estimated to deliver $4.8 billion to Virginia.

** Arnold Schwarzenegger and Jane Fonda joined California Gov. Gavin Newsom and environmental advocates in Los Angeles on Friday to launch a campaign to keep a 2022 law banning new oil and gas wells near homes, schools and hospitals.

** Sales growth for hybrid cars is outpacing growth for electric vehicles this year. Buyers were paying $42,500 on average for hybrids in late 2023, according to data from Edmunds, compared with $60,500 for EVs and $47,500 for gas cars.

** Chrysler parent Stellantis said on Friday it will lay off about 400 U.S. salaried workers as it seeks to cut costs, boost efficiency and ramp up electric-vehicle production plans.

** The first new US aluminum smelter in 45 years may be built as part of about $6 billion in grants the Biden administration is awarding to companies in a bid to clean-up hard to decarbonize industries including metal, paper and glass.

** Rhode Island considers replacing its gas tax with a mileage-based user fee to combat an expected drop in revenue as electric vehicles replace combustion cars.


** The US has urged Ukraine not to strike Russian oil refineries, fearing it could drive up prices and prompt retaliation, reports say. Ukraine responded that it won’t stop these attacks, calling the refineries legitimate military targets.

** Russia struck an underground gas storage facility in western Ukraine during Sunday’s missile and drone attack, underlining threats to the country’s energy system.

** The International Energy Agency has given a promising update on the future of renewable energy, with low-emission power production on the rise globally. Wind, solar, and nuclear energy will be enough to cover increased global demand for power in the next three years, the IEA predicted, while pollution from the energy sector is also dropping.

** A new air quality report found that Canada had the most polluted air of any North American country in 2023, as critics say the Trudeau government’s scattered response to the disaster likely made matters worse.

** The Iran-backed Houthi terror group struck a Chinese ship amidst its blockade of the Red Sea, despite previously giving assurances that Chinese vessels would be given safe passage. In the early hours of Sunday morning, the Yemeni Houthi militia launched four anti-ship ballistic missiles into the Red Sea in the vicinity of M/V Huang Pu, a Panamanian-flagged, and Chinese-owned and operated oil tanker, US Central Command (Centcom) reported.