On June 22, 2026, Virginia’s General Assembly approved its two-year biennial budget (HB 30), which includes a first-of-its-kind electricity consumption tax on qualifying data centers. The tax took effect July 1, 2026, and runs through June 30, 2028. The measure levies $0.011 per kWh (1.1 cents) on all electricity consumed at covered data centers each […]
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Six U.S. states are implementing fuel tax adjustments effective primarily on July 1, 2026, even as national gasoline prices hover around $4.08–$4.11 per gallon amid ongoing energy inflation pressures and geopolitical uncertainties in global oil markets. These changes—ranging from inflation-linked increases to restructuring and temporary suspensions—aim to sustain transportation infrastructure funding but come at a […]
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The U.S. wind and solar industries are facing a sharp policy reversal. The Trump administration’s One Big Beautiful Bill Act (signed July 4, 2025) and follow-on Executive Order have effectively ended the generous federal tax credits (Production Tax Credit under Section 45Y and Investment Tax Credit under Section 48E) that fueled much of the recent […]
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Illinois Governor JB Pritzker has joined Ohio Governor Mike DeWine in hitting the pause button on tax incentives for new data centers. On June 5, 2026, Pritzker directed the Illinois Department of Commerce and Economic Opportunity (DCEO) to stop processing new agreements under the Data Center Investment Program effective July 1. This move mirrors Ohio’s […]
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Jamie Dimon, CEO of JPMorgan Chase, has once again sounded alarms about mounting pressures on the US economy. In a recent Bloomberg Television interview and his April 2026 annual letter to shareholders, he highlighted vulnerabilities in leveraged corporate debt, the challenges of refinancing at elevated rates, geopolitical shocks from the Iran conflict, and risks of […]
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$6 gas and refinery fears collide with California’s climate ambitions By Alejandro Lazo, CalMatters The Chevron refinery in Richmond is located behind a nearby neighborhood on Feb. 21, 2024. Photo by Loren Elliott for CalMatters This story was originally published by CalMatters. Sign up for their newsletters. California is considering handing oil refineries and other […]
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Canada’s manufacturing and industrial base is in freefall under Prime Minister Mark J. Carney’s leadership. A viral X post from @wealthmoose on May 14, 2026, lays out the stark reality with receipts: over $50 billion in planned investments have been canceled, moved, or evaporated in key auto, battery, and manufacturing projects across Ontario and Quebec. […]
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The European Commission has just proposed handing out billions more in free carbon emission permits to European industry under its flagship Emissions Trading System (ETS). According to Bloomberg, the updated benchmark values for 2026–2030 would deliver roughly €4 billion ($4.7 billion) worth of additional free allowances to manufacturers covered by the cap-and-trade program. The official […]
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In a move signaling a renewed focus on its core oil and gas operations, BP announced on May 7, 2026, that it plans to sell portions of its equity stakes in two flagship UK carbon capture and storage (CCS) projects in Northern England. The decision comes as both projects—Net Zero Teesside (NZT) Power and the […]
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As Virginia prepares to rejoin the Regional Greenhouse Gas Initiative (RGGI) this summer under Democratic Gov. Abigail Spanberger, ratepayers are facing yet another round of higher electricity bills. Proponents frame the move as a smart climate policy that will somehow deliver affordability amid surging data-center demand. But the reality, backed by years of data from […]
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