Tim McDonnell

1 week ago | semafor.com | Tim McDonnell

The world’s 65 biggest banks, led by JPMorgan and Bank of America, increased their commitment to fossil fuels in 2024 compared with the previous year, reversing what had been a declining trend and illustrating just how reluctant Wall Street is to give up on what remains a major profit center.

3 weeks ago | semafor.com | Tim McDonnell

When it comes to US President Donald Trump, Tesla CEO Elon Musk just can’t catch a break. The high-profile implosion on Thursday of what had until recently been a cozy friendship between the two sent Tesla’s stock price plummeting, shaving $152 billion off its market cap in a matter of hours, the biggest single drop in the company’s history.

3 weeks ago | semafor.com | Tim McDonnell

BlackRock, the world’s largest asset manager, is back in business in Texas after the state removed it from a blacklist of financial firms that Republican officials deemed to be prejudiced against the oil and gas industry. The decision is a victory for Republican state officials around the US, who have argued that the ESG policies of firms like BlackRock have led them to put so-called woke politics ahead of their fiduciary duty.

3 weeks ago | semafor.com | Tim McDonnell

Oil prices jumped on Monday despite the decision by OPEC and its partners to increase their production quotas for the third time in as many months. But many analysts remain decidedly bearish about their trajectory over the next couple of years, with far-reaching implications for the US economy and foreign policy.

1 month ago | semafor.com | Tim McDonnell

As budget negotiations grip the US Congress, some lawmakers are already looking ahead to the next big energy fight, one with even higher stakes for clean energy and the AI power race: Permitting reform. Bipartisan discussions “are being seeded now” on the scope of a bill that could speed up approvals for new grid lines and pipelines, and restrict the use of litigation to block such projects, Rep.