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India seeks threefold increase in coal stocks to prevent summer power shortages
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Indian companies report mixed second-quarter results on November 4
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Indus Towers expands solar-powered network to 50,000 telecom sites
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KKR secures Indian regulator approval for Gentari Renewables investment
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Equitas Small Finance Bank rebounds after naming interim chief executive
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Bharti Airtel revenue expected to grow at double-digit pace in second quarter
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Titan quarterly profit seen rising as jewellery business drives growth
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Indian crude-sensitive shares gain after 13% oil-price decline
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Kuwait finance minister holds economic cooperation talks at COMCEC
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Stocks and dollar fall as Democratic election gains reshape markets
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Kuwait marks key events and anniversaries from national history
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Qatar Tourism joins Pacific Asia Travel Association at London travel market
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Qatar media bodies discuss support for humanitarian initiatives
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Pitches and Keynote Speakers Are Confirmed for Blue Magic Netherlands on November 17
US ends leasing in its largest coal-producing region
President Joe Biden's government on Thursday announced it was ending coal leases in the Powder River Basin, the nation's largest coal-producing region, drawing condemnation from the mining sector and praise from environmentalists.
It comes as the world's second largest economy continues its shift away from coal, the most carbon-intensive fossil fuel, which has seen its output decline by more than 25 percent since 2017 as it struggles to compete with lower cost natural gas and with renewable energy.
Biden has also targeted coal power plants with tough new rules requiring them to almost eliminate all their carbon dioxide output in the 2030s using carbon capture technology or shut down altogether.
The Group of Seven countries last month likewise set a time limit for phasing out coal-fired power plants in the middle of the next decade.
The announcement was made without fanfare in a highly technical statement from the Bureau of Land Management (BLM). It won't affect current coal leases in the region, which spans southeast Montana and northeast Wyoming.
Rich Nolan, president and CEO of the National Mining Association, called the plan "outrageous," adding it "damages American energy security and affordability and is a severe economic blow to mining states and communities."
But the move was celebrated by green groups. Earthjustice's Drew Caputo hailed it as "a monumental decision that will save lives, safeguard our environment, and significantly cut carbon emissions in the United States."
"For years, conservation groups have litigated to get to this point – arguing that the federal government cannot simply lease away our public lands to coal companies while ignoring the impacts to public health," he added.
Democratic incumbent Biden is facing a tough reelection against likely Republican nominee Donald Trump in November, with climate action seen as key to galvanizing youth and progressive voters.
A victory for climate-denying Trump would all but assure a wholesale reversal of green policies, from unfreezing permits on new liquefied natural gas imports to reversing restrictions on drilling in the Alaskan Arctic.
A.Zimmermann--CPN