Trump asks congressman to write executive order to halt offshore wind
Society
AI summaryDisplay highlights
- Trump asks congressman to write executive order to halt wind energy projects
- Draft order is written to halt offshore wind development from Rhode Island to Virginia for six months
- Incoming interior secretary could review how leases and permits were issued
360 summary
- The average rate on a 30-year mortgage in the US rose to 7.04%, the highest level in eight months, due to a rise in bond yields that lenders use as a guide to price mortgages.
- Borrowing costs on 15-year fixed-rate mortgages also rose this week, increasing to 6.27% from 6.14% last week.
- The elevated mortgage rates, which can add hundreds of dollars a month in costs for borrowers, have discouraged home shoppers, prolonging a national home sales slump that began in 2022.
bostonglobe.com- The order aims to develop minimum cybersecurity standards for government technology contractors and make it easier to sanction foreign governments that target the US with cyberattacks.
- It also allows for sanctions to be imposed on foreign hackers who target hospitals or other organizations with ransomware.
- The order requires federal agencies to improve cybersecurity to protect against the threat posed by powerful quantum computers.
bostonglobe.com- Microsoft is increasing the price of its Office 365 family subscription by 30% to $130 a year and the individual version by 43% to $100 a year.
- The price increase is aimed at generating more revenue from the existing customer base to fund the development and operation of AI services.
- The company claims that the price hike will bring the transformative power of AI to the personal productivity tools that millions of people use every day.
bostonglobe.com- BP is cutting 4,700 jobs worldwide and a further 3,000 contractor roles as part of a cost-saving drive.
- The reductions amount to just over 5 percent of BP’s 90,000 worldwide employees.
- The company is “focusing resources on our highest-value opportunities” and that it has stopped or paused 30 projects since June.
bostonglobe.com- The Biden administration approved 11 offshore wind projects with a capacity of 19 gigawatts, enough to power more than six million homes, according to the Interior Department.
- The government conserved more than 670 million acres of land and water — more than any other U.S. president in history, including more than 625 million acres of ocean that was protected from offshore oil and gas drilling.
- Haaland, the first Native American Cabinet secretary, defended the Biden administration's broader record on energy and conservation, highlighting the progress made in the offshore wind sector and the significant amount of land and water conserved during Biden's presidency.
Newsweek- Biden approved almost 50% more permits to drill on federal land in his first three years in office than did Trump in his first three years as president.
- The permitting increase under Biden included a controversial decision in 2023 to greenlight the so-called Willow project, a planned oil drilling project on Alaska's North Slope.
- The administration also drew heavy criticism from the left last month for approving and oil and gas lease sale in the Coastal Plain of the Arctic National Wildlife Refuge (ANWR) in Alaska.
Newsweek- The administration entered 400 co-stewardship agreements for federal lands and wildlife with tribes, Alaska Native corporations and other communities.
- Congress approved $45 billion in funding to aid Native American communities through the American Rescue Plan and Inflation Reduction Act.
- Biden made a formal apology to Native Americans for a past federal boarding school initiative and called it a "blot on American history" during his visit to Indian Country.
Newsweek
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