EPA delays prompt $13.7 billion shortfall in biofuels investment: report

By Chris Prentice NEW YORK (Reuters) – U.S. government delays in rolling out renewable fuels policy have stymied some $13.7 billion in investments and have prevented advanced biofuels companies from meeting mandated target volumes, according to an industry group analysis. The U.S. Environmental Protection Agency’s (EPA) slow rulemaking on the Renewable Fuel Standard program over the past two years has “chilled” an influx of capital needed to boost commercial production,

Tesla faces competition for customers, subsidies

By Nichola Groom LOS ANGELES (Reuters) – Tesla Motors Inc’s plan to generate new revenue by repackaging electric car batteries as home and business power storage systems faces stiff competition for both customers and the government subsidies that are critical to the market’s growth. At the unveiling of its suite of storage battery systems on Thursday, Tesla Chief Executive Elon Musk said at a company event near Los Angeles the

Chevron profit drops but beats expectations on refining margins

Oil and natural gas producer Chevron Corp reported a 43 percent drop in quarterly profit on Friday, though results beat analysts’ expectations as cost cuts and robust refining margins helped offset the impact of tumbling crude prices. The help from refining operations mirrored results at large, integrated peers such as Exxon Mobil Corp and Royal Dutch Shell , which tend to lean on their refining divisions for profit during times

Tesla unveils battery to 'transform energy infrastructure'

The Tesla Powerwall can store power from solar panels, from the electricity grid at night when it is typically cheaper, and provide a secure backup in the case of a power outage. “The goal is complete transformation of the entire energy infrastructure of the world, to completely sustainable zero carbon,” Musk told reporters shortly before unveiling the Powerwall in a stylish warehouse space outside Los Angeles. All the power for

Tesla moves into batteries that store energy for homes, businesses

By Nichola Groom and Paul Lienert LOS ANGELES (Reuters) – Tesla Motors Inc on Thursday unveiled Tesla Energy – storage systems or batteries for homes, companies and utilities that will expand its business beyond electric vehicles and tap into a fast-growing area of the energy industry. Chief Executive Elon Musk said the company’s goal was to “fundamentally change the way the world uses energy on an extreme scale.” He introduced

House panel targets 'glaring management failures' at EPA

WASHINGTON (AP) — The chairman of the House Oversight Committee is criticizing what he calls “glaring management failures” at the Environmental Protection Agency, following a report that EPA officials promoted a senior employee even though he had been accused of sexual harassment and allowed other employees to continue working at the agency after admitting they watched pornography on the job.

Like shale oil, solar power is shaking up global energy

By Henning Gloystein and Aaron Sheldrick SINGAPORE/TOKYO (Reuters) – One by one, Japan is turning off the lights at the giant oil-fired power plants that propelled it to the ranks of the world’s top industrialized nations. With nuclear power in the doldrums after the Fukushima disaster, it’s solar energy that is becoming the alternative. Solar power is set to become profitable in Japan as early as this quarter, according to