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EU Parliament Approves ‘green’ Label for Nuclear Power, Natural Gas

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The European Parliament voted Wednesday to include nuclear power and natural gas in the bloc’s list of investments deemed sustainable, a move that could trigger more funding of those sectors but that critics said would slow Europe’s shift to greener energy sources, The Wall Street Journal reports.

The vote paves the way for the proposal to become law, and would add nuclear plants and natural gas to the European Union’s “green taxonomy” rulebook starting in 2023 if they meet various conditions such as limits on greenhouse gas emissions.

ETFs: (NYSEARCA:UNG), (BOIL), (KOLD), (UNL), (UGAZF), (DGAZ), (FCG), (NYSEARCA:NLR), (NYSEARCA:URA)

The action comes as Europe tries to cut its dependence on Russian fossil fuels and lean on nuclear and natural gas to help bridge a transition to renewable energy, but environmentalists and some lawmakers and investors say the plan risks diluting investments in other projects such as renewable energy.

The European Union said the vote was “recognition of our pragmatic and realistic approach in helping many member states on their transition path towards climate neutrality,” as the continent faces a potentially dire gas shortage next winter.

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Source: seekingalpha.com

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Hot Stocks: BIDU Leads Chinese Tech Stocks Higher; PTON, ODFL Rise on Earnings; SNAP Drops

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Stocks surged in the wake of the Federal Reserve’s latest interest rate announcement, with the Nasdaq ending Wednesday’s session higher by 2%. Investors focused on comments from Fed Chair Jerome Powell suggesting that the central bank was starting to make progress in its fight against inflation.

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Article: seekingalpha.com

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U.S. Beginning to Detain Some Chinese Aluminum Imports, Top Shipper Says

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The U.S. has started to detain imports of aluminum products suspected of being made through forced labor, particularly from China’s Xinjiang region, shipper A.P. Moller-Maersk (OTCPK:AMKBY) said Tuesday, according to Bloomberg.

U.S. Customs has begun issuing “detention notices” for such products, the shipper said in an advisory, adding the action probably would target aluminum used in automotive parts.

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Original Article: seekingalpha.com

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Gas Stove Controversy Heats up Again As Second U.S. Agency Proposes Limits

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Gas stoves are coming under renewed scrutiny as the U.S. Department of Energy published a proposal Wednesday for new regulations for the appliances, some of which have never been subject to federal efficiency standards.

The proposed rule-making would set new efficiency standards for both electric and gas cooking tops, preventing them from exceeding set levels of energy use per year.

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Original Source: seekingalpha.com

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