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Economy & Business

Newsom Calls Special Session To Consider Windfall Tax On Oil Companies

"Gov. Gavin Newsom said Friday he would call a special session of the Legislature to consider a windfall profit tax on oil companies in response to the “outrageous and unconscionable” price of gas in California."

Source: Politico, 10/10/2022

"Disputed Gas Pipeline Seen Surviving Without Congress or Manchin"

"Efforts to speed a long-delayed, overbudget natural gas project in Sen. Joe Manchin’s home state by revamping federal permitting rules will play out in agencies and courts for now, after Congress balked last month."

Source: Bloomberg Environment, 10/07/2022

"Biden Says the U.S. Is Eyeing ‘Alternatives’ to OPEC Oil"

"President Biden on Thursday defended his visit to Saudi Arabia this summer, in the wake of Wednesday’s decision by the Saudi-led cartel of oil-producing nations to cut production, which will likely raise gasoline prices in the United States."

Source: NYTimes, 10/07/2022

"OPEC+ Makes Big Oil Cut To Boost Prices; Pump Costs May Rise"

"The OPEC+ alliance of oil-exporting countries decided Wednesday to sharply cut production to support sagging oil prices, a move that could deal the struggling global economy another blow and raise politically sensitive pump prices for U.S. drivers just ahead of key national elections."

Source: AP, 10/06/2022

"Supreme Court Poised to Scrap US Waters Test, Attorneys Say"

"The test that the federal government has used to determine what waters and wetlands are protected under the Clean Water Act seems poised to be scrapped by the US Supreme Court, natural resources lawyers said."

Source: Bloomberg Environment, 10/05/2022

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