Author: Bloomberg News

California’s worst oil spill in almost 30 has drawn fresh scrutiny of aging offshore oil and gas infrastructure around the world, built decades ago back before fracking, horizontal drilling and shale made ocean drilling less economic.

Bottlenecks that gummed up the global supply chain in 2020 have only gotten worse, and evidence is mounting that the holiday season is at risk.

The U.S. House of Representatives approved a 30-day reauthorization for highway funding late Oct. 1, a signal that the Democrats aren’t likely to immediately move ahead with a vote on infrastructure legislation.

House Speaker Nancy Pelosi (D-Calif.) plans to try again Oct. 1 for a vote on bipartisan infrastructure legislation that has been held up by a battle between moderate and progressive Democrats over President Joe Biden’s economic agenda.

European energy markets from natural gas to carbon permits jumped to records, signaling the supply shortage will get worse just as the winter season starts. Stockpiles of everything from gas to coal and Norwegian water for electricity production are dw…

OPEC and its allies can likely continue reviving oil production, two key Middle East members said as the group prepares to consider its next supply hike.

Beijing has applied to join an Asia-Pacific trade pact once pushed by the U.S. as a way to exclude China and solidify American dominance in the region.

BYD Co., the Chinese electric-vehicle and battery maker backed by Warren Buffett, said first-half earnings fell as shortages of chips and lithium increased costs.

Rivian Automotive Inc., the maker of electric pickups backed by Amazon.com Inc., has filed for an initial public offering and is seeking a roughly $80 billion valuation, according to people familiar with the matter.

OPEC and its allies are expected to press on with their planned revival of oil production when they meet next week, as prices bounce back from their August stumble.