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Microsoft's VP of corporate affairs says that US wind and solar power still has room for growth in data centers.
Microsoft Vice President for Energy Bobby Hollis said at the CERAWeek conference in Houston, on Wednesday, that the U.S. still has a lot of room to expand wind and solar power development, especially in the Midwest wind-corridor and the sunny southwest. The rapid proliferation of Big Tech’s energy-intensive cloud and AI data centers is shaking the stagnant U.S. electricity industry. It has pushed the country's consumption to a new high and raised questions about the future of carbon-free renewable power. Hollis said, "We think that there is still a long way to go before renewables are a significant part of the mix where it makes sense." Microsoft is currently expanding one of its largest data centers in the world, and has plans to expand to a total of ten. Invest $80 billion In the effort alone this year, it will require vast amounts of electricity. Solar and wind energy is intermittent. It only produces power when the sun shines or the wind blows. This is a problem for the data centers, which must operate around the clock. Natural gas is cheap and abundant, but it produces emissions which contribute to global climate change. The most attractive option The transition to renewable energy is led by the big power users. Hollis said, "Let's just add more gas as needed." His company has obtained more than 30 gigawatts in renewable energy globally. "Before getting to that point, let's ensure that we have added renewables." He said that the mid-section of America, which has strong and consistent winds, was ripe for the development of wind-powered data centers. Solar power could be expanded in sunny Southeast, he added. (Reporting and editing by David Gregorio; Laila Kearney)
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Next week, US oil executives will meet with Trump
The American Petroleum Institute, a leading industry group, announced on Wednesday that U.S. producers of oil will meet President Donald Trump next Monday. An industry source said that the topic of discussion included tariffs, trade, and exports for liquefied gas. The API, whose members include ExxonMobil, Chevron, and other oil giants, was instrumental in putting together the meeting. When asked about the meeting, API spokesperson Bethany Williams said: "We are grateful for the opportunity to discuss with President Obama and his team how American oil, natural gas and consumer support is driving economic growth, strengthening national security, and supporting consumers." API publicly opposes Trump's trade war against allies Mexico, Canada and the United States. Trump has imposed tariffs for imported crude oil from Canada and Mexico, but granted exemptions to producers who can show that they comply with the United States-Mexico Canada Agreement. API CEO Mike Sommers responded to the tariffs last month by saying, "Energy market are highly integrated and free and fair trading across our borders is crucial for delivering reliable, affordable energy to U.S. consumers." consumers." According to OpenSecrets, oil and gas companies donated $75 million to Trump’s presidential campaign, to the Republican National Committee, and to allied groups. The top oil and gas donors to Trump include billionaires Harold Hamm, Kelcy Warr of Energy Transfer Partners, and Jeffery Hildebrand from Hilcorp Energy Co. Data shows that they and their spouses contributed $15 million towards Trump's campaign. Reporting by Jarrett Renshaw, Ron Bousso and David Gregorio.
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Trump administration targets Biden electric vehicle regulations
The U.S. Environmental Protection Agency announced on Wednesday that it has begun efforts to reverse Biden's administration's vehicle emission rules, which would force automakers into building an increasing number of electric cars. This is just the latest of the Trump administration’s sweeping actions to undo prior efforts to encourage automakers to produce electric vehicles. The previous administration had rescinded a plan to have at least 50% new vehicles be EVs by 2030. The EPA The agency said that it would review its 2024 rules, which would reduce tailpipe emissions from passenger vehicles by almost 50% by 2032 as compared to projected levels for 2027. Ford Motor has backed the EPA's forecast that 35% to 56% of all new vehicles sold from 2030 to 2032 will need to be electrical to meet compliance. The EPA also said that it will be reviewing a regulation for 2022, which aims to dramatically reduce smog and soot emissions from heavy duty trucks. They claim the rule increases truck prices. The standards for 2022 are 80% stricter The rule is expected to result in a reduction of up to 2,900 premature deaths per year, as well as 1.1 million school days lost for children. It will also generate a net benefit of $29 billion annually. The EPA in Febuary Biden Administration's Congress will review the landmark California plan to stop selling gasoline-only cars by 2035 and possibly repeal it, but an agency of government has approved its approval. Last week The decision cannot be reviewed. Congress is separately considering Efforts to repeal EV Tax Credits Sean Duffy, Secretary of Transportation since January 1, revoked the fuel efficiency standards that Biden had set out to reduce fuel consumption for cars and trucks. He has also EV funding frozen for states charging. In June, the National Highway Traffic Safety Administration announced that it would increase Corporate Average Fuel Efficiency requirements for light duty vehicles to around 50.4 miles per galon (4.67 litris per 100km) by 2031. The current requirement is 39.1 mpg. Duffy directed NHTSA also to review rules for heavy-duty vans and pickup trucks through 2035. NHTSA stated in June that the rule for cars and trucks will reduce gasoline consumption by 64 billiard gallons by 2050, and emissions by 659 milliard metric tons. The report said that while some vehicles may be more expensive, consumers will save money on fuel and receive estimated net benefits worth $35.2 billion. (Reporting and editing by Chris Reese, Andrea Ricci and David Shepardson)
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At least 13 people have died and 20 others are injured in a bus crash that occurred in Bolivia
Local police reported that at least 13 people died and another 20 were injured after a bus veered from the road and crashed into a stone in Bolivia's western Potosi Region, they said. They attributed the deaths to heavy rains across the region. The crash on Wednesday is the latest in a string of fatal road accidents in South America. According to the Bolivian traffic police, at least 127 deaths and more than 200 injuries have been reported in 2025. The Transit Operative Unit recorded more than 15 000 accidents in 2024. This resulted in 1,480 fatalities, an average of four deaths per day. (Reporting and editing by Sarah Morland, Mark Porter and Monica Machicao)
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Brazil is mulling over all possible actions, but will not immediately retaliate to US steel tariffs
Brazil's Finance minister said on Wednesday the country will not immediately retaliate to tariffs imposed on imports of steel and aluminium by the United States, but instead seeks talks. The government noted that it would consider all options. The U.S. President Donald Trump increased tariffs on steel and aluminum imports, which took effect on Tuesday. This accelerated a campaign of reordering global trade to the U.S.'s benefit and drew swift retaliation by Canada and Europe. The Brazilian government issued a statement in which it expressed regret for the "unjustifiable' move of the U.S. citing the history of economic and political integration between the U.S. and Brazil. Brazil, the country that imports the most steel from the United States, has said it will take all measures possible to react in the coming weeks, including through the World Trade Organization. After a meeting in Brasilia with local steel industry members, Fernando Haddad, the Finance Minister told reporters that President Luiz-Inacio Lula Da Silva had ordered his economic team on Wednesday to engage the Trump administration. Haddad stated that "President Lula said to stay calm and noted that we have previously negotiated in conditions even less favorable than these current ones." Last week, Brazil's Vice-President Geraldo Alckmin held a call that his office described as "positive" with U.S. Secretary of Commerce Howard Lutnick about U.S. Tariff Policy. The two governments agreed to continue the dialogue. Brazil agreed in 2018 to a quota-system deal with the former U.S. Trump Administration, allowing the country to export semi-finished steel up to 3.5 millions tons to the U.S. Aco Brasil, the lobby for Brazil's steel industry, defended in a statement the system of quotas that was abolished on Wednesday when the new tariffs came into effect. Rui Costa said that Brazilian and U.S. officials will meet on Friday to try and reach an agreement on tariffs. Costa said that "reciprocity" is the standard diplomatic procedure, but that a decision final would only be taken after Friday's summit. Brazil's steel industry maintains a "mutually advantageous complementary" relationship with the United States. It is the third-largest importer of U.S. coal for steelmaking and the biggest exporter of semifinished steel to the United States.
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EPA tightens up regulation on US waterways
The U.S. Environmental Protection Agency (EPA) announced on Wednesday it would narrow the definitions of waters that could be federally regulated in order to comply with 2023 Supreme Court ruling. Republican legislators from agricultural states applauded this move. EPA Administrator Lee Zeldin stated that the agency would work to create a simple definition "that will stand the test of time and be durable." He said that the previous administration's definition "waters of the United States" placed unfair burdens on American citizens and increased the cost of doing businesses. This announcement is part of what Zeldin called a "ping-pong" of policy changes around the regulation and protection of "waters in the United States", which are protected by the 1972 Clean Water Act against pollutants such as fertilizers, pesticides, and mining waste. The EPA tried to expand its regulatory authority over wetlands and streams under the Obama and Biden Administrations. However, this was met with opposition from the industry, agriculture and Republican legislators who deemed it to be an overreach. The Sackett vs. EPA 2023 case established a standard that limits the ability of EPA and Army Corps of Engineers to regulate certain types of wetlands which do not connect to navigable waterways and streams. Shelley Moore Capito of West Virginia, the chairwoman of the Senate Environment Committee, said: "By delivering a framework which is both clear, and legally sound and refining key terms and rescinding previous vague and inconsistent guidelines, we bring predictability to all those who depend on clear, and workable, water regulations." Environmental groups have warned against a narrowing of the definition of waterways that are regulated. This would negatively impact on wetland conservation. Stacy Woods said that the Trump EPA has given the green light to industrial agriculture in order to pollute and drain valuable wetlands, which provide significant benefits to communities including flood protection and safe drinking water. Farm groups have supported a rollback of what they consider to be costly and burdensome regulations on water. Glenn "G.T." Thompson, chair of the House Agriculture Committee, said in a statement that this EPA action is "a crucial step to correct years of regulatory overreach, which has created uncertainty and confusion for rural communities, farmers and ranchers." Thompson, the chair of House Agriculture Committee said in a press release. Zippy Duvall said that the American Farm Bureau Federation had listened to the concerns of farmers in a press release.
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Continental Resources, a US-based producer, will help Turkey develop its shale gas fields
On Wednesday, Turkish Energy minister Alparslan Bayraktar announced on the social media platform X that TPAO, Turkey's national oil company, had signed a joint-venture agreement with U.S. producer Continental Resources for the development of shale deposits in Diyarbakir Basin. This cooperation will contribute greatly to our goal to bring Turkiye’s oil and natural gas resources into our economy. "I hope that this agreement will benefit all parties, as it opens up a new phase in Turkiye's exploration," he wrote in the blog. The Turkish oil and gas industry is not very large. Continental Resources CEO Doug Lawler stated in an email that "we recognize significant opportunities to further develop both in the U.S. We are very excited to work with TransAtlantic, Turkey Petroleum and other energy companies to develop innovative solutions to unlock the full potential of Turkey's resources. TransAtlantic Petroleum is developing the Selmo Field in Turkey, and executing a drilling program horizontally in eastern Turkey. Harold Hamm, founder of Continental Resources, warned on Wednesday that U.S. crude oil production was beginning to plateau. Reporting by Arathy S. Somasekhar, Writing by Liz Hampton and Editing by Marguerita C. Choy and Ni. Williams
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EPA to eliminate over 20 US air and water regulations
On Wednesday, the Trump administration announced regulatory rollbacks that included a repealing of emission limits for power plants, a reduction in protections for waterways, and a rollback on tailpipe pollution curbs. This was an attempt to meet President Trump's goals. Donald Trump Energy dominance agenda The Environmental Protection Agency (EPA) is unwinding 31 Biden-era rules that were intended to boost industries from agriculture, electric utilities, oil, petrochemicals, and automobiles. This aligns with Trump's pledges to cut red tape. However, they will also weaken the core environmental protections in U.S. water and air. In a video posted on X by EPA Administrator Lee Zeldin, he said that today is the "most consequential day in American history" of deregulation. He added that he was carrying out Trump's executive orders aimed to eliminate red tape in industry. Zeldin had announced on Wednesday morning that he would be attending the upcoming TEDxZeldin event. Reduce the number of waterways The Clean Water Act would regulate this activity, a move that was urged on by the agriculture and petroleum industries. He later announced that the agency will reconsider the Biden era Clean Power Plant Rule that seeks reduce carbon emissions from electricity plants and rollback greenhouse gas emission standards of heavy- and lightweight vehicles for model years 2027 and beyond. Zeldin has already been established Expected to take steps To undo a 2009 scientific finding that greenhouse gas emission endanger the public health, which underlies all of EPA's regulations on greenhouse gases. (Reporting and editing by Chris Reese; Valerie Volcovici)
The global stock market barely changed as trade war uncertainties dominate
Investors were less concerned about the impact of U.S. trade policies on global markets as a result of data showing a lower inflation rate in the U.S.
The oil prices are aiming for their second consecutive day of gains following data on stockpile increases, while the euro has retreated slightly from its five-month high set the day before on the hopes that a ceasefire would be reached between Ukraine and Russia.
The U.S. Department of Labor released data on Wednesday showing that the Consumer Price Index (CPI), which measures prices in the United States, rose 2.8% annually in February. This was below the 2.9% predicted by economists polled. It rose 0.2% on a monthly level after increasing by 0.5% in January, and against the 0.3% estimate of economists.
Jim Baird is the chief investment officer of Plante Moran Financial Advisors. He said, "Today's report on inflation is good news. But it's backward-looking and doesn't give us any information about where we are going from here or what inflationary impact all these tariffs may have."
On Tuesday, investors were scrambling to stay up to date with the events that took place on Wall Street after U.S. president Donald Trump threatened to double tariffs on steel and aluminum to 50% on Canada. He then reversed his course later that day.
Baird said that the hardest part was tariff uncertainty. It's one thing to know that the rules are changing, but it's another thing to know what they will be.
At 10:59 am (1459 GMT), the Dow Jones Industrial Average dropped 351.23 or 0.84% to 41,082.25, while the S&P 500 declined 7.98 or 0.16% to 5,563.75; and the Nasdaq Composite climbed 74.74 or 0.43% to 17,510.84.
The MSCI index of global stocks fell by 0.08 points or 0.01% to 826.56.
The pan-European STOXX 600 Index was up by 0.39% but still well below the session high.
TARIFFS TAKE EFFORT
The European futures rose on Tuesday, after Kyiv announced it would accept the U.S. ceasefire offer and the U.S. stated it would resume military aid to Ukraine and intelligence sharing.
On Wednesday, Trump's tariffs against all U.S. imports of steel and aluminum took effect. The European Commission responded by announcing that it would implement counter-tariffs for U.S. products worth 28.40 billion euros (26 billion euro) starting next month.
The yield on the benchmark 10-year U.S. notes increased 0.5 basis points from late Tuesday to 4,293%.
The yield on the 2-year bond, which is usually in line with expectations of interest rates for the Federal Reserve's, increased 1.9 basis points from late Tuesday to 3.96%.
Investors' concerns about a possible recession and global trade war have led to a widening of the yield spread between corporate bonds, and U.S. Treasuries late Tuesday. It was their highest level since September.
The euro fell 0.05% to $1.0913 while the dollar gained 0.36% against the Japanese yen, reaching 148.3.
The Russian rouble, which had reached a six-month high against the dollar on Tuesday, fell back to 86.04 per dollar on Wednesday. It was down 1.64%.
The oil prices rose by 2% Wednesday as U.S. data showed that fuel and oil inventories were lower than expected. However, investors remained focused on the growing fears of an economic slowdown in the U.S. and on tariffs' impact on global growth.
U.S. crude climbed 2.13%, to $67.66 per barrel. Brent rose 1.83% to $70.83 a barrel.
Spot gold increased by 0.22%, to $2,922.34 per ounce. U.S. Gold Futures declined 0.1% to $2.910.00 an ounce. (Reporting from Elizabeth Howcroft in Paris; additional reporting by Tom Westbrook, Singapore; editing by Alex Richardson).
(source: Reuters)