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A shortage of oil tankers is becoming so acute that newly built vessels, which usually carry refined fuels on their maiden voyages, are instead racing empty to pick up crude as soon as possible. 

A unit of BP was the high bidder in a U.S. auction for oil and gas drilling rights in the Gulf of Mexico, the first sale held during President Donald Trump’s second term.

The step by Platts, a unit of S&P Global Energy, effectively eliminates one source of supply that might be cheaper than others. The move will align with European Union rules.

“We can and we must pursue our climatic goal in an effective way, while not killing our competitiveness in the meanwhile since there is nothing green in an industrial desert,” EU leaders said.

Dollars from the $5 billion infrastructure program that Joe Biden’s White House crafted to speed EV adoption are flowing again after the Trump administration froze the funds earlier this year.

The American Petroleum Institute joined a coalition of biofuel producers and fuel retailers asking President Donald Trump to push Congress to develop legislation on the issue.

Trump’s proposal represents a win for the auto and oil industries that argued the requirements pushed the bounds of available technology for getting more miles out of each gallon of fuel.

Energy Secretary Chris Wright told the North American Gas Forum that the move could add the equivalent of roughly 35 traditional nuclear power plants worth of electricity.

The CEO of Jeep maker Stellantis and senior executives from General Motors and Ford plan to attend the announcement at the White House, which is expected Dec. 3, sources told Bloomberg.

The Transportation Department said Dec. 1 that it plans to revoke the certification of nearly 3,000 truck driving schools unless they can comply with training requirements in the next 30 days.