She states electric vehicles need grid support. Secretary of Energy Jennifer Granholm says billions of dollars in upgrades are needed to the American power grid to prepare for…
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Appeals Court Vacates Block on Oil and Gas Leasing Pause
Executive order stands as district court addresses lack of specificity. In January 2021, President Joe Biden paused new leases for oil and gas extraction on federal land, in…
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IRS Given Deadline for Overhaul
Treasury Secretary wants a plan within six months. Secretary of the Treasury Janet Yellen asked the Internal Revenue Service to develop an operational plan for deploying the $80…
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President Signs Inflation Reduction Act
Bill addresses taxes, healthcare, and climate On Tuesday, President Joe Biden signed the Inflation Reduction Act into law, one he said he had waited 18 months to sign. The…
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Housing Starts Drop Nearly 10 Percent
New construction is at the lowest level since June 2020. The Commerce Department reported the number of housing starts decreased sharply in July. Measured on an annualized rate,…
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Postal Rates to Increase for Holidays
USPS says the hike is temporary. The United States Postal Service filed a notice this week of a temporary price hike for this year’s peak holiday season, which…
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Average Price for Gasoline Below $4
Inflation expectations are also diminishing. On Thursday, AAA posted the national average price of a gallon of regular gas at $3.990, dropping under $4 for the first time…
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Senator Wyden Proposes Oil Company Tax Hike
Tax would be on “excess profits.” Senator Ron Wyden of Oregon is introducing the Taxing Big Oil Profits Act, which he says will accentuate the tax burden of…
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Inflation Eased Slightly in July
The costs of energy and gasoline declined. The Labor Department issued its Consumer Price Index measure for July on Wednesday that showed the pace of price increases slowing…
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U.S. Experiences Decline in Worker Productivity
The annual rate shows the largest drop on record. The Labor Department reported Tuesday that U.S. worker productivity fell sharply in the second quarter. On an annualized basis,…
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