Fuel

A leaked draft of Treasury Department rules for hydrogen tax credits in President Joe Biden’s climate law is drawing warnings from advocates that they may stifle the burgeoning industry.

The national average diesel price fell another 5.4 cents this week to creep ever closer to the $4 mark, according to the Energy Information Administration.

The Biden administration may not be able to take full advantage of the recent drop in oil prices as it seeks to refill its depleted crude oil reserve, an Energy Department official said Dec. 4.

The Biden administration on Dec. 2 issued a final rule aimed at reducing methane emissions, targeting the U.S. oil and natural gas industry for its role in global warming.

The OPEC oil cartel led by Saudi Arabia and allied producers including Russia made another big swipe at propping up lagging crude prices Nov. 30, expanding some output cuts into next year.

Europe’s biggest container lines want to phase out ships powered only by fossil fuels, they say in a proposal jointly made by Mediterranean Shipping Co., Maersk, CMA CGM and Hapag-Lloyd.

Navistar’s sustainability commitments go back more than 20 years, but in 2023, it has sharpened its focus.

Canadian medium- and heavy-duty electric truck and bus maker Lion Electric laid off 150 employees, or 10% of its workforce, it said Nov. 27.

Congestion at the Panama Canal could result in delays at Egypt’s Suez Canal, possibly affecting cargoes of liquefied natural gas, according to an official at Angelicoussis Group.

Nikola Corp. CEO Steve Girsky’s workload is set to increase further Dec. 4 with the departure of the truck maker's chief financial officer.