Fuel

WASHINGTON — House Republicans on March 30 approved a sprawling energy package that seeks to undo virtually all of President Joe Biden’s agenda to address climate change.

The world’s most important oil price is about to be transformed, allowing crude supplies from West Texas to help determine the price of millions of barrels a day of petroleum transactions.

A train hauling ethanol and corn syrup derailed and caught fire in Minnesota early March 30, and nearby residents were ordered to evacuate their homes, authorities said.

President Joe Biden has made proliferation of electric vehicles a focus of his administration, with the commercial transportation industry playing a key role.

If electric vehicle company Nikola can get its hydrogen fuel cell trucks and filling station network operable, the company could pull in hundreds of millions a year from federal incentives.

Electric truck market growth is poised to accelerate even as infrastructure constraints hinder that trajectory, according to experts.

NEW ORLEANS  — Oil companies offered a combined $264 million for drilling rights in the Gulf of Mexico on March 29 in a sale mandated by last year’s climate bill compromise.

The immediate future of solar-powered vehicles is becoming clear: smaller, lighter, cheaper systems built to subtly augment electric driving, rather than power it in full. 

California Gov. Gavin Newsom signed a new law that gives state regulators the power to penalize oil companies for making too much money, the first of its kind in the country.

Lucid Group Inc. is eliminating 18% of its workforce, including employees and contractors, as the electric vehicle startup looks to cut costs in its second full year of production.