Green Markets - January 6, 2025

Jan 07, 2025

Green Markets is a daily series dedicated to highlighting events of interest that could impact investments within environmental markets.

President Biden has issued a new directive banning offshore oil and gas leasing across 625 million acres of U.S. waters, including the Atlantic coast, Gulf of Mexico, and parts of the Bering Sea. Biden's team emphasized environmental protection and the minimal fossil fuel potential in the banned areas.
U.S. Steel and Nippon Steel have filed a lawsuit against the Biden administration after the president blocked their $14.9 billion merger. The companies argue that the review was politically influenced and seek to have the decision overturned by the U.S. Court of Appeals for the District of Columbia, aiming for a fresh review of the deal.

California Resources (CRC) is advancing its first carbon capture and storage (CCS) project at its cryogenic gas plant in Kern County, California, following EPA approval for Class VI well permits. The project, located at the Elk Hills Field, will involve the injection of around 1.5 million tons of CO2 per year for 26 years, storing up to 28 million metric tons of CO2.

Related Stock List(s): Carbon Capture Stocks

Lucid Motors exceeded expectations for its EV deliveries in Q4, handing over 3,099 vehicles—an 11% increase over the previous quarter and 78% higher than last year. The growth was fueled by price reductions and cheaper financing options, driving demand for the luxury electric vehicles.
Xpeng Motors and Volkswagen have expanded their partnership to enhance electric vehicle charging infrastructure in China. The two companies have signed a memorandum of understanding to allow their customers access to each other's ultra-fast charging networks. This will give users access to over 20,000 charging piles across 420 cities in the country.

H2 Global Energy has signed a memorandum of understanding (MOU) with the Tunisian government for a $6 billion green hydrogen and ammonia project. The initiative will use Tunisia's renewable energy resources to produce green hydrogen and ammonia.
Singapore is investing $1 billion in a 600 MW hydrogen power plant led by PacificLight Power. The facility will initially use a blend of hydrogen and natural gas, with plans to transition to 100% hydrogen.

Related Stock List(s): Hydrogen Stocks

The United States is finalizing steps to eliminate barriers to civil nuclear cooperation with India, signaling a new phase in their strategic partnership. U.S. National Security Adviser Jake Sullivan announced the expected removal of regulatory obstacles during a visit to India, emphasizing its potential to enhance ties and support India's nuclear energy expansion for decarbonization.
Texas and Utah have filed a lawsuit against the Nuclear Regulatory Commission (NRC), arguing that the agency’s licensing rules for small modular reactors (SMRs) are overly restrictive and impede their deployment. The states, joined by developer Last Energy, contend that the NRC's regulations prevent broader adoption of SMRs. They claim the commission’s rules essentially ensure that new nuclear projects are rarely approved.

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