Oil Industry Gets Big Win as Renewable Energy Faces Setbacks

Douglas McIntyre, Editor-in-Chief at Climate Crisis 24/7, reports that the oil industry has secured a major victory with the approval of a new deep-sea port in the Gulf of Mexico, making it easier to extract and transport crude oil. At the same time, renewable energy policies are taking a hit—with solar and EV tax credits eliminated and wind energy facing setbacks due to lost leases. These policy changes suggest that oil will continue to dominate U.S. energy for the foreseeable future.