The U.S. Inflation Reduction Act (IRA) includes nearly $500 billion in new spending and tax breaks that will catalyze the clean energy transition, increase tax revenues and reduce healthcare costs. Dwight Morgan, Executive Vice President of Corporate Development at M. Holland, recently provided insight on what the IRA includes and key considerations for the plastics industry. Click here to read the full post.
Oil fell 4% Tuesday, with Brent seeing the biggest decline in three months, on news of weak demand out of China.
In mid-morning trading today, WTI futures were down 3.6% at $74.15/bbl and Brent was down 3.6% at $79.17/bbl.
Crude tanker rates have surprised markets by falling double-digit percentages since Europe and the G7 tightened sanctions on Russian crude in early December. The move reflects a sudden expansion in capacity following a pre-sanction rush on crude across the globe.
A unit of Tokyo Gas is in advanced talks to buy U.S. natural gas producer Rockcliff Energy for about $4.6 billion, according to reports.
Mexico’s administration is reportedly putting more pressure on heavily indebted state oil producer Pemex to repay its own bills in the first quarter, a break from years’ worth of substantial governmental support.
Tesla captured roughly two-thirds of the U.S. electric-vehicle market during the first three quarters of 2022, including three out of four top-selling models:
About $33 billion in new auto-factory investment was pledged across the U.S. in the first 11 months of 2022, adding to the $37 billion announced in 2021 for one of the biggest factory-building booms in decades.
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