** The U.S. Interior Department plans to dramatically speed up permitting for oil and gas, uranium, coal, biofuel, geothermal, hydropower, and critical mineral projects on federal lands, accelerating environmental reviews to 14 days and impact statements to 28.
** An Interior Department document suggests the Trump administration is considering shrinking national monuments in Arizona, California, New Mexico, and Utah to allow for expanded mining and drilling.
** A dozen states sued the Trump administration in the U.S. Court of International Trade in New York on Wednesday to stop its tariff policy, saying it is unlawful and has brought chaos to the American economy. The states listed as plaintiffs in the lawsuit were Oregon, Arizona, Colorado, Connecticut, Delaware, Illinois, Maine, Minnesota, Nevada, New Mexico, New York and Vermont.
** Texas EV maker Tesla reports a 71% year-over-year profit drop in the first quarter of the year, as CEO Elon Musk says he’ll trim his White House involvement starting next month.
** The Trump administration blocks a federal grant for clean energy training programs and shelters for use during flooding and power outages in historically Black neighborhoods in Houston.
** Mastercard announces plans to replace the natural gas heating at its New York headquarters with a geothermal system as part of its goal of reaching net-zero emissions by 2040.
** In 2024, U.S. utilities operated 94 nuclear reactors with a total net generating capacity of nearly 97 gigawatts (GW), the largest commercial nuclear power generation fleet in the world. The next three countries with the largest programs were France with 57 units (63.0 GW), China with 57 units (55.3 GW), and Russia with 36 units (28.6 GW).
** California Governor Gavin Newsom has directed state officials to step up efforts to guarantee reliable fuel supplies for the nation’s biggest auto market, prompting oil companies to blame state policies for difficult business conditions and high pump prices.
World
** The Volkswagen group unveiled a series of new vehicles and a driver assistance system built “in China for China”, which it hopes will help reverse its declining fortunes in the world’s largest car market.
** BP is facing fresh pressure from a pro-oil hedge fund just as MPs push the company to restore its green pledges. Elliott, a major BP shareholder, is calling on the FTSE 100 giant to ramp up its cost-cutting plan to free up billions of extra cash for shareholders.
** Dutch tank storage group Vopak has received conditional approval for the initial public offering (IPO) of its Indian joint venture Aegis Vopak (AVTL) from the country’s markets regulator, the group said on Wednesday.
** China is considering building a nuclear plant on the moon to power the International Lunar Research Station (ILRS) it is planning with Russia, a presentation by a senior official showed on Wednesday.
** Three more Russian insurers, including a subsidiary of top lender Sberbank, have asked India for approval to provide marine insurance for oil shipments sent to Indian ports, two sources with knowledge of the matter said, as Moscow looks to maintain deliveries despite Western sanctions.
