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President Joe Biden is under renewed pressure to declare a national climate emergency as he travels to Hawaii today to tour the aftermath of the deadliest wildfire in modern U.S. history.
Grid operators in Texas urged consumers this weekend to reduce their electricity use, including turning off large appliances and requesting all government agencies reduce energy use at their facilities, as demand climbed to a record-high level of 85,435 MW and prompted new blackout fears. ERCOT has so far shattered demand forecasts 10 times in a row, prompting some of the biggest reliability concerns since Winter Storm Uri, the 2021 storm that killed 246 Texans and left millions without power.
As the Washington Post lays out, Manchin is irate at the way the Biden administration is implementing the law — and he’s fighting back. Manchin has refused to hold a confirmation hearing for the reappointment of Richard Glick, the Federal Energy Regulatory Commission’s chairman and a key ally of President Biden, after Glick’s term expired at the end of the year.
Both front-month benchmark prices snapped a seven-week winning streak last week with a weekly loss of 2%, on concern that China’s slow economic growth will curb oil demand, while the possibility of increases to U.S. interest rates also continues to cast a shadow over the demand outlook. More on that here.
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