EV Tax Credits Pulled Back
Ford and General Motors have officially withdrawn their plans to continue offering the $7,500 federal electric vehicle tax rebate, ending months of uncertainty for EV buyers. Both automakers had explored legal workarounds to extend the incentive after Congress killed the program in late September, but the companies now confirm they will no longer pursue that option.
Analysts say the reversal could slow EV sales through the end of the year, especially for high-volume models like Ford’s F-150 Lightning and GM’s Silverado EV.
BLM Accelerates Drilling Approvals
The Bureau of Land Management (BLM) has significantly increased approvals for oil and gas drilling permits during the Trump administration, according to new federal data. While approvals have surged, many operators plan to hold onto their permits until energy markets stabilize and long-term prices justify new production.
Industry leaders say the accelerated pace could help offset supply shortfalls when demand rebounds, but warn the backlog might create regulatory challenges for future administrations.
Global and Domestic Energy Highlights
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The Trump administration is threatening visa restrictions and sanctions against nations that backed a U.N. plan to reduce global shipping emissions.
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Minnesota has seen at least 13 hyperscale data center proposals, but many remain stalled due to grid capacity and environmental hurdles.
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Wisconsin lawmakers are advancing bipartisan legislation to study nuclear energy’s role in meeting growing power demand.
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California Gov. Gavin Newsom signed a bill requiring battery storage developers to coordinate with local fire officials and regulators.
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A proposed Wisconsin ban on Mylar balloons—meant to protect power lines—could bring fines up to $500 for outdoor releases.
International Energy Developments
Globally, an OPEC report projects oil supply will soon match demand as the group ramps up production through 2026. China has tightened restrictions on rare earth exports ahead of a possible U.S.–China summit, while Algeria’s Sonatrach signed a $5.4 billion exploration deal with Midad Energy from Saudi Arabia to expand operations in the Illizi Basin.