California’s Energy Commission delays oil profit cap, signaling a softer stance on Big Oil amid rising fuel prices. Created in 1974, key energy policy body.
A wave of government actions has seen offshore wind leases bought out and reallocated to fossil-fuel projects, with about $2B in reimbursements promised to developers who abandon wind plans. This follows court rulings that have blocked or rolled back some Trump-era restrictions, while some projects in California and New Jersey move forward under renewed scrutiny.