 Energy & Environment |
Energy & Environment |
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Trump wants U.S. to insure Mideast oil shippers |
President Trump took steps Tuesday aimed at preventing a decline in global oil supply and giving shipping companies financial protection amid the war in Iran. |
© AP Photo/Mark Schiefelbein |
The president said Tuesday he was ordering the U.S. Development Finance Corp. (DFC), a federal agency, to provide political risk insurance for shipping companies traveling through the Persian Gulf. Analysts say security concerns about shipping through the Strait of Hormuz, a key passageway near Iran, were a factor in price jumps that occurred in the wake of the U.S. attacks. The equivalent of about 20 percent of the world's oil consumption flows through this strait each day.
In a post on Truth Social, Trump ordered DFC to offer "at a very reasonable price, political risk insurance and guarantees for the Financial Security of ALL Maritime Trade, especially Energy, traveling through the Gulf. This will be available to all Shipping Lines." The president also said the U.S. Navy would escort oil tankers through the Strait of Hormuz "if necessary." Read more here, from The Hill's Sylvan Lane. |
Welcome to The Hill's Energy & Environment newsletter, I'm Rachel Frazin — keeping you up to speed on the policies impacting everything from oil and gas to new supply chains. |
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| How policy will affect the energy and environment sectors now and in the future: |
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Sen. Thom Tillis (R-N.C.) tore into Homeland Security Secretary Kristi Noem in a 10-minute tirade criticizing her from everything to her handling of the deaths of two Minnesotans to killing her own dog in a monologue that garnered applause from the audience of the Senate Judiciary Committee. |
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Leaked documents related to the Trump administration's review of history at national parks reveal new details about the breadth of the administration's efforts to reshape the telling of America’s story. |
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The Trump administration's efforts to end congestion pricing in New York City were illegal, a federal judge ruled Tuesday. |
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News we've flagged from other outlets touching on energy issues, the environment and other topics: |
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Upcoming news themes and events we're watching: |
- Big Tech companies are expected to meet with President Trump for an electricity-related announcement
- The Senate Energy and Natural Resources Committee is slated to vote on whether to advance administration nominees and legislation
- The Senate Environment and Public Works Committee will hold a hearing on draft legislation related to the Toxic Substances Control Act
- The House Armed Services Committee will hold a hearing where the Pentagon's energy and environmental leaders are slated to testify
- The House Natural Resources Committee will hold a hearing on the Migratory Bird Treaty Act
- The House Energy and Commerce Committee will hold a hearing on pipeline safety legislation
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Two key stories on The Hill right now: |
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Sen. Angus King (I-Maine) on Tuesday called Secretary of State Marco Rubio’s explanation that the U.S. carried out a preemptive attack on Iran because Israel struck first “breathtaking” during a Senate hearing with a top official from the Pentagon. Read more |
| Homeland Security Secretary Kristi Noem faced aggressive lines of questioning from members of both sides of the aisle in a long-awaited hearing that fell amid growing scrutiny of the secretary's handling of the department. Read more |
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You're all caught up. See you tomorrow! |
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