Belmont is updating its climate action road map with more ambitious goals than the 2017 plan, while also taking into account climate change im…
Californians are hurting, struggling to get by under the high energy costs that have become a hallmark of life in our state.
U.S. gas prices are climbing fast, and drivers are paying the highest pump prices since 2022 as the Iran war shakes oil markets. Many drivers face wild swings between stations and even from one day to the next. The Energy Information Administration says about half the price covers crude oil, and about 20% goes to refiners. Taxes take nearly 20%. Experts say retailers earn slim margins that get tighter when prices at the pump rise. Oil prices soared when U.S. markets opened Thursday, hours after President Donald Trump's speech on continuing the Iran war in which he asked Americans for patience.
Sharply swinging oil prices have left consumers feeling the effects of the Iran war and its damage to worldwide energy production. Gasoline prices are climbing. Many people will find some of the most immediate economic pain at the pump. But not only drivers will be affected. Nearly all goods that are bought and sold must travel from where they're produced. That includes food. Those costs will climb with higher gasoline, diesel and jet fuel prices. Heating a home and cooking with natural gas are likely to cost more as the war grinds on. And the spike in oil prices will likely be a big factor for U.S. inflation. As the war continues, some experts say the price of everything could be affected.
Oil and gasoline prices are rising as the war in Iran intensifies and other global conflicts affect supply. That means pain at the pump for drivers filling up with gas. But electric vehicle drivers are largely unaffected by spikes in oil prices. Electricity prices — even as different grids have different power mixes — are more regulated. Experts say prolonged high gas prices may drive some EV interest and sales. Car-buying resource Edmunds says it has seen an uptick in people researching EVs and hybrids. But the experts also say just how far that will go is unclear. And in the U.S., significant incentives to buy EVs have gone away.
Oil prices jumped Tuesday for the second straight day and gas prices moved higher in the United States, underscoring the threat of rising inflation posed by the Iran war. Coming after nearly five years of elevated costs, even a modest pickup in prices could further sour many Americans on the economy and heighten the affordability concerns that have become a top political issue. A key issue, economists say, is how long the conflict lasts and whether key shipping routes, such a the Strait of Hormuz, at the mouth of the Persian Gulf, are closed. About one-fifth of the world's oil and natural gas is shipped through the Strait.
California Gov. Gavin Newsom has signed a bill extending the state's cap-and-trade program through 2045. The program sets a declining limit on total planet-warming emissions in the state from major polluters. The new law potentially boosts carbon-removal projects and requires the program to align with California's target of achieving so-called carbon neutrality by 2045. Newsom also signed laws to speed up permitting for oil production in Kern County, refill a fund that covers the cost of wildfire damage when utility equipment sparks a blaze and allow the state's grid operator to partner with a regional group to manage power markets in western states.
When my siblings and I sat down to dinner as kids, Mom would say, “Take what you want, but eat what you take.”
Federal incentives for home energy improvements are running out at the end of the year, so it’s decision time for anyone who has been thinking…
