Energy briefs

**  General Motors cut its annual EV production forecast and announced a new $6 billion share buyback plan on Tuesday, as the automaker banks on demand from its gasoline-powered models.

** A consumer advocacy group files a lawsuit claiming GE failed to warn consumers about the dangers of its gas stoves, hoping Washington, D.C.’s consumer protection law could make all gas stove manufacturers disclose their products’ indoor air pollution risks.

** Researchers find atmospheric levels of planet-warming hydrochlorofluorocarbons have dipped for the first time since nations agreed 30 years ago to phase out their use in air conditioning and refrigeration.

** Carcinogenic ethylene oxide was found in higher-than expected levels in a heavily polluted area known as “Cancer Alley,” according to a new study. “Cancer Alley” is the nickname of an industrial area of Louisiana that is also home to predominantly Black communities who face significant levels of pollution of various chemicals.

** House Republicans are blasting Wall Street firms over climate-minded investing, the latest flare in the party’s criticism over environmental, social and governance (ESG) investing. House Judiciary Committee Republicans on Tuesday released a report accusing leading investment firms of “colluding” with climate groups.

** New York police arrested dozens of climate activists dressed as orcas Tuesday morning in front of the Citigroup headquarters as they protested the bank’s ongoing investment in fossil fuel expansion, according to group Climate Defenders.


** The world is likely to have a major surplus of oil by 2030 as production is ramped up while the clean energy transition tempers demand, the International Energy Agency said Wednesday. Global demand is expected to “level off” at 106 million barrels per day (bpd) toward the end of this decade while overall supply capacity could reach 114 million bpd, the IEA said in an annual report.

** The European Commission notified car makers on Wednesday that it would apply additional duties of up to 38.1% on imported Chinese electric vehicles from next month, a move likely to draw possible retaliation from China.

**  Uniper SE was awarded more than €13 billion ($14 billion) in damages for Russian gas volumes not supplied by Gazprom PJSC since mid-2022, raising uncertainty in the market over remaining flows to Europe.

**  Intel Corp is halting plans for a $25-billion factory in Israel, Israeli financial news website Calcalist said on Monday, in a report that the chipmaker did not confirm or deny.