When Michigan’s oldest operating nuclear power plant shut down in 2022, it was supposed to be for good. The plant, which sits on the coast of Lake Michigan, had company — dozens of other reactors had already been wound down. But soon after the turbines stopped spinning, those plans changed. A little-known company from Camden,…
Europeans seem to have gotten over their antipathy toward Elon Musk. A year ago, Tesla sales in Europe were in free fall after Mr. Musk, the automaker’s chief executive, appeared to turn off car buyers with his vocal support for right-wing politicians in Britain and Europe and his role as President Trump’s cost-cutting czar. But…
The war with Iran has pulled the American oil industry out of a slump, raising corporate profits and spurring some companies to drill more wells. U.S. oil production is now forecast to grow modestly next year, topping 14 million barrels a day for the first time, according to the Energy Information Administration. The federal agency…
A lawsuit filed in California last month offers a modern-day David-versus-Goliath tale that casts the world’s largest automaker, Toyota Motor, in the role of the giant battling against a shoestring operation in Africa — but with a twist. The legal fight is not about some top-secret new automotive technology or significant sums of money. It…
The preliminary U.S.-Iranian deal could lower fuel prices, but don’t expect cheaper flights anytime soon. The conflict caused jet fuel prices to nearly double, forcing airlines to operate fewer flights and raise fares. The framework deal American and Iranian officials are expected to sign on Friday would restore oil exports from the Middle East, but…
The average price of U.S. gasoline fell below $4 a gallon on Thursday for the first time in months, after Iran and the United States signed a preliminary agreement to cease hostilities for 60 days and reopen the Strait of Hormuz. The national average for a gallon of regular gasoline fell to a fraction of…
The Bank of Japan joined other major global central banks in raising interest rates to head off an expected spike in inflation fueled by higher energy costs from the war in the Middle East. The bank said on Tuesday that it would raise its benchmark interest rate a quarter of a percentage point to 1…
The war with Iran may be nearing its end. Its toll on the U.S. economy has yet to subside. A preliminary deal touted by President Trump on Monday appeared to pause the fighting in the Middle East — but not the high prices and other disruptions that have hammered American families and businesses recently. At…
The long-awaited deal to reopen the Strait of Hormuz brought quick relief to the oil market, sending prices to their lowest levels since early March. Getting substantial amounts of oil and gas flowing, however, will take much longer. It can take weeks or months, even in the best of times, to get oil and gas…
Chris Murphy, the Democratic senator from Connecticut, offered the graduates of Wesleyan University wise counsel in his commencement speech a few weeks back. “You are about to step out into a world that prizes efficiency and the annihilation of drift and friction above all else,” he said. “Our entire economy is built on rewarding companies…
