US cap and trade: Delayed, but not dead
Without federal direction on climate change, the US energy industry remains in legislative limbo
HARRY REID has thrown in the towel. When the US Senate majority leader introduced his energy bill in late July, the controversial cap-and-trade mechanism that would have reduced the country's carbon emissions was missing in action. Instead of a comprehensive energy package, Reid's watered-down version focused more on oil spill accountability and clean-energy jobs than on combating climate change. Quite simply, Reid said, the votes were not there to get the bill passed. The cap-and-trade provisions would have imposed limits on emissions of carbon dioxide (CO2) and other greenhouse gases (GHGs) that contribute to climate change. To achieve those limits, the federal government would have alloca
Also in this section
5 March 2026
Gas is a central pillar of Colombia’s energy system, but declining production poses a significant challenge, and LNG will be increasingly needed as a stopgap. A recent major offshore gas discovery offers hope, but policy improvements are also required, Camilo Morales, secretary general of Naturgas, the Colombian gas association, tells Petroleum Economist
4 March 2026
The continent’s inventories were already depleted before conflict erupted in the Middle East, causing prices to spike ahead of the crucial summer refilling season
4 March 2026
The US president has repeatedly promised to lower gasoline prices, but this ambition conflicts with his parallel aim to increase drilling and could be upended by his war against Iran
4 March 2026
With the Strait of Hormuz effectively closed following US-Israel strikes and Iran’s retaliatory escalation, Fujairah has become the region’s critical pressure release valve—and is now under serious threat
