US states redefine gas as green energy
Louisiana is the latest US state to redefine natural gas as green energy under a new law - even though it's a fossil fuel that emits planet-warming greenhouse gases.
Three other states led by Republicans— Indiana, Ohio and Tennessee— have passed similar legislation.
In some Democratic-led states, there have been efforts to phase out natural gas. Cities in New York and California have moved to ban natural gas hook-ups in new buildings, though some of these policies have been successfully challenged in court.
President Donald Trump has signed a spate of executive orders promoting oil, gas and coal, which all warm the planet when burned to produce electricity.
Louisiana Governor Jeff Landry, a major booster of the state's petrochemical industry, says the new law "sets the tone for the future" and will help the state "pursue energy independence and dominance."
Environmental groups say these new laws are part of a broader push by petrochemical industry-backed groups to rebrand fossil fuel as climate friendly and head off efforts to shift electric grids to renewables, such as solar and wind. It's "pure Orwellian greenwashing," said Tim Donaghy, research director of Greenpeace USA.
Globally, the term green energy is used to refer to energy derived from natural sources that do not pollute — solar, wind, hydropower and geothermal energy. Louisiana's law could enable funds slated for state clean energy initiatives to be used to support natural gas.
Natural gas has been the top source of electricity generation in the United States for about a decade, since surpassing coal.
Apart from coal, everything else is better than gas for the planet, said Rob Jackson, a Stanford University climate scientist. Building new gas plants locks in fossil fuel emissions for decades, he added.
The law's author, Republican Jacob Landry, runs an oil and gas industry consulting firm.
"I don't think it's anything crippling to wind or solar, but you got to realise the wind don't blow all the time and the sun don't shine every day," Landry said. The legislation "is saying we need to prioritise what keeps the grid energised," he added.
According to Dave Anderson, policy and communications manager for the Energy and Policy Institute, these laws are part of a long-running disinformation campaign by the gas industry to cast their product as clean to protect their businesses and prevent a shift to renewable energy sources that will address the climate crisis.
"The goal is to elbow out competition from renewables from wind and solar, and in some cases preempt localities' ability to choose to pursue 100 per cent truly clean energy," Anderson said.
The European Union has previously designated natural gas and nuclear as sustainable, a move that Greenpeace and the Austrian government are suing over.
Louisiana is the latest US state to redefine natural gas as green energy under a new law - even though it's a fossil fuel that emits planet-warming greenhouse gases.
Three other states led by Republicans— Indiana, Ohio and Tennessee— have passed similar legislation.
In some Democratic-led states, there have been efforts to phase out natural gas. Cities in New York and California have moved to ban natural gas hook-ups in new buildings, though some of these policies have been successfully challenged in court.
President Donald Trump has signed a spate of executive orders promoting oil, gas and coal, which all warm the planet when burned to produce electricity.
Louisiana Governor Jeff Landry, a major booster of the state's petrochemical industry, says the new law "sets the tone for the future" and will help the state "pursue energy independence and dominance."
Environmental groups say these new laws are part of a broader push by petrochemical industry-backed groups to rebrand fossil fuel as climate friendly and head off efforts to shift electric grids to renewables, such as solar and wind. It's "pure Orwellian greenwashing," said Tim Donaghy, research director of Greenpeace USA.
Globally, the term green energy is used to refer to energy derived from natural sources that do not pollute — solar, wind, hydropower and geothermal energy. Louisiana's law could enable funds slated for state clean energy initiatives to be used to support natural gas.
Natural gas has been the top source of electricity generation in the United States for about a decade, since surpassing coal.
Apart from coal, everything else is better than gas for the planet, said Rob Jackson, a Stanford University climate scientist. Building new gas plants locks in fossil fuel emissions for decades, he added.
The law's author, Republican Jacob Landry, runs an oil and gas industry consulting firm.
"I don't think it's anything crippling to wind or solar, but you got to realise the wind don't blow all the time and the sun don't shine every day," Landry said. The legislation "is saying we need to prioritise what keeps the grid energised," he added.
According to Dave Anderson, policy and communications manager for the Energy and Policy Institute, these laws are part of a long-running disinformation campaign by the gas industry to cast their product as clean to protect their businesses and prevent a shift to renewable energy sources that will address the climate crisis.
"The goal is to elbow out competition from renewables from wind and solar, and in some cases preempt localities' ability to choose to pursue 100 per cent truly clean energy," Anderson said.
The European Union has previously designated natural gas and nuclear as sustainable, a move that Greenpeace and the Austrian government are suing over.
Louisiana is the latest US state to redefine natural gas as green energy under a new law - even though it's a fossil fuel that emits planet-warming greenhouse gases.
Three other states led by Republicans— Indiana, Ohio and Tennessee— have passed similar legislation.
In some Democratic-led states, there have been efforts to phase out natural gas. Cities in New York and California have moved to ban natural gas hook-ups in new buildings, though some of these policies have been successfully challenged in court.
President Donald Trump has signed a spate of executive orders promoting oil, gas and coal, which all warm the planet when burned to produce electricity.
Louisiana Governor Jeff Landry, a major booster of the state's petrochemical industry, says the new law "sets the tone for the future" and will help the state "pursue energy independence and dominance."
Environmental groups say these new laws are part of a broader push by petrochemical industry-backed groups to rebrand fossil fuel as climate friendly and head off efforts to shift electric grids to renewables, such as solar and wind. It's "pure Orwellian greenwashing," said Tim Donaghy, research director of Greenpeace USA.
Globally, the term green energy is used to refer to energy derived from natural sources that do not pollute — solar, wind, hydropower and geothermal energy. Louisiana's law could enable funds slated for state clean energy initiatives to be used to support natural gas.
Natural gas has been the top source of electricity generation in the United States for about a decade, since surpassing coal.
Apart from coal, everything else is better than gas for the planet, said Rob Jackson, a Stanford University climate scientist. Building new gas plants locks in fossil fuel emissions for decades, he added.
The law's author, Republican Jacob Landry, runs an oil and gas industry consulting firm.
"I don't think it's anything crippling to wind or solar, but you got to realise the wind don't blow all the time and the sun don't shine every day," Landry said. The legislation "is saying we need to prioritise what keeps the grid energised," he added.
According to Dave Anderson, policy and communications manager for the Energy and Policy Institute, these laws are part of a long-running disinformation campaign by the gas industry to cast their product as clean to protect their businesses and prevent a shift to renewable energy sources that will address the climate crisis.
"The goal is to elbow out competition from renewables from wind and solar, and in some cases preempt localities' ability to choose to pursue 100 per cent truly clean energy," Anderson said.
The European Union has previously designated natural gas and nuclear as sustainable, a move that Greenpeace and the Austrian government are suing over.
Louisiana is the latest US state to redefine natural gas as green energy under a new law - even though it's a fossil fuel that emits planet-warming greenhouse gases.
Three other states led by Republicans— Indiana, Ohio and Tennessee— have passed similar legislation.
In some Democratic-led states, there have been efforts to phase out natural gas. Cities in New York and California have moved to ban natural gas hook-ups in new buildings, though some of these policies have been successfully challenged in court.
President Donald Trump has signed a spate of executive orders promoting oil, gas and coal, which all warm the planet when burned to produce electricity.
Louisiana Governor Jeff Landry, a major booster of the state's petrochemical industry, says the new law "sets the tone for the future" and will help the state "pursue energy independence and dominance."
Environmental groups say these new laws are part of a broader push by petrochemical industry-backed groups to rebrand fossil fuel as climate friendly and head off efforts to shift electric grids to renewables, such as solar and wind. It's "pure Orwellian greenwashing," said Tim Donaghy, research director of Greenpeace USA.
Globally, the term green energy is used to refer to energy derived from natural sources that do not pollute — solar, wind, hydropower and geothermal energy. Louisiana's law could enable funds slated for state clean energy initiatives to be used to support natural gas.
Natural gas has been the top source of electricity generation in the United States for about a decade, since surpassing coal.
Apart from coal, everything else is better than gas for the planet, said Rob Jackson, a Stanford University climate scientist. Building new gas plants locks in fossil fuel emissions for decades, he added.
The law's author, Republican Jacob Landry, runs an oil and gas industry consulting firm.
"I don't think it's anything crippling to wind or solar, but you got to realise the wind don't blow all the time and the sun don't shine every day," Landry said. The legislation "is saying we need to prioritise what keeps the grid energised," he added.
According to Dave Anderson, policy and communications manager for the Energy and Policy Institute, these laws are part of a long-running disinformation campaign by the gas industry to cast their product as clean to protect their businesses and prevent a shift to renewable energy sources that will address the climate crisis.
"The goal is to elbow out competition from renewables from wind and solar, and in some cases preempt localities' ability to choose to pursue 100 per cent truly clean energy," Anderson said.
The European Union has previously designated natural gas and nuclear as sustainable, a move that Greenpeace and the Austrian government are suing over.
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Global shares have rallied helped by signs of progress in US-China trade talks, while the dollar held close to its lowest levels in more than three years. World stock markets have rallied to record highs this week, as traders took confidence from a ceasefire between Iran and Israel and markets stepped up bets for US rate cuts. A trade agreement between the US and China on Thursday on how to expedite rare earth shipments to the US was also seen by markets as a positive sign, amid efforts to end the tariff war between the world's two biggest economies. Asian shares hit their highest in more than three years in early trading, and US stock futures pointed to a firm start for Wall Street shares. The pan-European STOXX 600 index was up 0.8 per cent on the day, set for a 1.1 per cent weekly gain - its best week since mid-May. London's FTSE 100 was up 0.5 per cent and Germany's DAX gained 0.6 per cent. The MSCI World Equity Index touched a fresh record high and was set for a weekly gain of 2.8 per cent. The S&P 500 index is up just 4.4 per cent this year overall, following a volatile first half of the year, dominated by US President Donald Trump's "Liberation Day" tariff announcement on April 2, which sent stocks plunging. "What we are having right now is potentially some optimism about some trade deals," said Vasileios Gkionakis, senior economist and strategist at Aviva Investors. "We have... come from quite low levels in the aftermath of the Liberation Day in April. To a certain extent we have also had some mini-selloff on the back of the events in the Middle East, and in that sense we're rebounding." Trump has set July 9 as the deadline for the European Union and other countries to reach a deal to reduce tariffs. Mark Haefele, Chief Investment Officer at UBS Global Wealth Management said that in the near-term, the firm saw greater upside potential in US and emerging markets than in Europe. The dollar remained on the backfoot, hovering near its lowest level in three-and-a-half years against the euro and sterling. The dollar index was down a touch on the day at 97.269 , holding near its lowest in more than three years. The euro was at $US1.1708 ($A1.7867), getting a lift after data showed French consumer prices rose more than expected in June. It held near multi-year peaks hit a day earlier. "We see the US dollar as unattractive," said Haefele at UBS Wealth Management. Markets are focused on US monetary policy, as traders weigh up the possibility of Trump announcing a new, more dovish chair of the Federal Reserve. Traders have stepped up their bets on US rate cuts, and are now pricing in 64 basis points (bps) of easing this year versus 46 bps expected on Friday. The dollar is having its worst start to a year since the era of free-floating currencies began in the early 1970s. "I don't think it's just the repricing of the Fed, I think there is a broader issue here of some tarnishing of US exceptionalism," Aviva Investors' Gkionakis said. Core PCE price data, the US central bank's preferred measure of inflation, is due later in the session. German 30-year government bond yields were on track for their biggest weekly increase in nearly four months after rising this week on expectations of increased borrowing by Germany's government. Oil prices meanwhile rose but were set for their steepest weekly decline since March 2023, as the absence of significant supply disruption from the Iran-Israel conflict saw any risk premium evaporate. Brent crude futures rose 0.5 per cent to $US68.06 ($A103.86) a barrel while US West Texas Intermediate crude was up by the same amount to $US65.54 ($A100.01).
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While the agreement shows potential progress following months of trade uncertainty and disruption since Trump took office in January, it also underscores the long road ahead to a final, definitive trade deal between the two economic rivals. China has been taking its dual-use restrictions on rare earths "very seriously" and has been vetting buyers to ensure that materials are not diverted to US military uses, according to an industry source. This has slowed down the licensing process. The Geneva deal had faltered over China's curbs on critical minerals exports, prompting the Trump administration to respond with export controls of its own preventing shipments of semiconductor design software, aircraft and other goods to China. In early June, Reuters reported China had granted temporary export licences to rare-earth suppliers of the top three US automakers, according to two sources familiar with the matter, as supply chain disruptions began to surface from export curbs on those materials. Later in the month, Trump said there was a deal with China in which Beijing would supply magnets and rare earth minerals while the US would allow Chinese students in its colleges and universities. The United States has reached an agreement with China on how to expedite rare earth shipments to the US, a White House official said, amid efforts to end a trade war between the world's biggest economies. President Donald Trump earlier said the United States had signed a deal with China on Wednesday, without providing additional details, and that there might be a separate deal coming up that would "open up" India. During US-China trade talks in May in Geneva, Beijing committed to removing non-tariff countermeasures imposed against the United States since April 2, although it was unclear how some of those measures would be walked back. As part of its retaliation against new US tariffs, China suspended exports of a wide range of critical minerals and magnets, upending the supply chains central to automakers, aerospace manufacturers, semiconductor companies and military contractors around the world. "The administration and China agreed to an additional understanding for a framework to implement the Geneva agreement," a White House official said on Thursday. The understanding is "about how we can implement expediting rare earths shipments to the US again", the official said. A separate administration official said the US-China agreement took place earlier this week. US Commerce Secretary Howard Lutnick was quoted as saying by Bloomberg: "They're going to deliver rare earths to us" and once they do that "we'll take down our countermeasures." On Friday, China's commerce ministry said the two countries recently confirmed details on the framework of implementing the Geneva trade talks consensus. It said China will approve export applications of controlled items in accordance with the law. It did not mention rare earths. While the agreement shows potential progress following months of trade uncertainty and disruption since Trump took office in January, it also underscores the long road ahead to a final, definitive trade deal between the two economic rivals. China has been taking its dual-use restrictions on rare earths "very seriously" and has been vetting buyers to ensure that materials are not diverted to US military uses, according to an industry source. This has slowed down the licensing process. The Geneva deal had faltered over China's curbs on critical minerals exports, prompting the Trump administration to respond with export controls of its own preventing shipments of semiconductor design software, aircraft and other goods to China. In early June, Reuters reported China had granted temporary export licences to rare-earth suppliers of the top three US automakers, according to two sources familiar with the matter, as supply chain disruptions began to surface from export curbs on those materials. Later in the month, Trump said there was a deal with China in which Beijing would supply magnets and rare earth minerals while the US would allow Chinese students in its colleges and universities. The United States has reached an agreement with China on how to expedite rare earth shipments to the US, a White House official said, amid efforts to end a trade war between the world's biggest economies. President Donald Trump earlier said the United States had signed a deal with China on Wednesday, without providing additional details, and that there might be a separate deal coming up that would "open up" India. During US-China trade talks in May in Geneva, Beijing committed to removing non-tariff countermeasures imposed against the United States since April 2, although it was unclear how some of those measures would be walked back. As part of its retaliation against new US tariffs, China suspended exports of a wide range of critical minerals and magnets, upending the supply chains central to automakers, aerospace manufacturers, semiconductor companies and military contractors around the world. "The administration and China agreed to an additional understanding for a framework to implement the Geneva agreement," a White House official said on Thursday. The understanding is "about how we can implement expediting rare earths shipments to the US again", the official said. A separate administration official said the US-China agreement took place earlier this week. US Commerce Secretary Howard Lutnick was quoted as saying by Bloomberg: "They're going to deliver rare earths to us" and once they do that "we'll take down our countermeasures." On Friday, China's commerce ministry said the two countries recently confirmed details on the framework of implementing the Geneva trade talks consensus. It said China will approve export applications of controlled items in accordance with the law. It did not mention rare earths. While the agreement shows potential progress following months of trade uncertainty and disruption since Trump took office in January, it also underscores the long road ahead to a final, definitive trade deal between the two economic rivals. China has been taking its dual-use restrictions on rare earths "very seriously" and has been vetting buyers to ensure that materials are not diverted to US military uses, according to an industry source. This has slowed down the licensing process. The Geneva deal had faltered over China's curbs on critical minerals exports, prompting the Trump administration to respond with export controls of its own preventing shipments of semiconductor design software, aircraft and other goods to China. In early June, Reuters reported China had granted temporary export licences to rare-earth suppliers of the top three US automakers, according to two sources familiar with the matter, as supply chain disruptions began to surface from export curbs on those materials. Later in the month, Trump said there was a deal with China in which Beijing would supply magnets and rare earth minerals while the US would allow Chinese students in its colleges and universities. The United States has reached an agreement with China on how to expedite rare earth shipments to the US, a White House official said, amid efforts to end a trade war between the world's biggest economies. President Donald Trump earlier said the United States had signed a deal with China on Wednesday, without providing additional details, and that there might be a separate deal coming up that would "open up" India. During US-China trade talks in May in Geneva, Beijing committed to removing non-tariff countermeasures imposed against the United States since April 2, although it was unclear how some of those measures would be walked back. As part of its retaliation against new US tariffs, China suspended exports of a wide range of critical minerals and magnets, upending the supply chains central to automakers, aerospace manufacturers, semiconductor companies and military contractors around the world. "The administration and China agreed to an additional understanding for a framework to implement the Geneva agreement," a White House official said on Thursday. The understanding is "about how we can implement expediting rare earths shipments to the US again", the official said. A separate administration official said the US-China agreement took place earlier this week. US Commerce Secretary Howard Lutnick was quoted as saying by Bloomberg: "They're going to deliver rare earths to us" and once they do that "we'll take down our countermeasures." On Friday, China's commerce ministry said the two countries recently confirmed details on the framework of implementing the Geneva trade talks consensus. It said China will approve export applications of controlled items in accordance with the law. It did not mention rare earths. While the agreement shows potential progress following months of trade uncertainty and disruption since Trump took office in January, it also underscores the long road ahead to a final, definitive trade deal between the two economic rivals. China has been taking its dual-use restrictions on rare earths "very seriously" and has been vetting buyers to ensure that materials are not diverted to US military uses, according to an industry source. This has slowed down the licensing process. The Geneva deal had faltered over China's curbs on critical minerals exports, prompting the Trump administration to respond with export controls of its own preventing shipments of semiconductor design software, aircraft and other goods to China. In early June, Reuters reported China had granted temporary export licences to rare-earth suppliers of the top three US automakers, according to two sources familiar with the matter, as supply chain disruptions began to surface from export curbs on those materials. Later in the month, Trump said there was a deal with China in which Beijing would supply magnets and rare earth minerals while the US would allow Chinese students in its colleges and universities.
