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Al Gore’s Generation Investment to Raise $1.25 Billion for New Fund

(Bloomberg) — Generation Investment Management, the impact-focused investment firm co-founded by Al Gore, is seeking to raise $1.25 billion for a new fund. The vehicle will target innovative sustainability-focused high growth companies primarily in North America and Europe, according to an investor letter seen by Bloomberg News. That may include firms involved in climate change […]

Texas Power Grid Braces for Freeze That Imperils Energy Supplies

(Bloomberg) — The Texas power grid and the natural gas drillers, wind farms and solar arrays that supply it are facing their second test in a less than a month as sub-zero weather bears down on the Lone Star state.  Temperatures in wide swaths of the second-largest U.S. state are forecast to plunge to well-below […]

Permian Oil Production Reached Record High Last Month

(Bloomberg) — Oil production in the Permian Basin set a record in December as America’s most prolific shale patch leads the recovery in domestic output. Crude supply from the Basin, which includes Texas and New Mexico, averaged 4.92 million barrels a day last month, according to the Energy Information Administration. That surpasses the previous record […]

Concord Loses Appeal in Billion-Dollar Vancouver Property Fight

(Bloomberg) — A Canadian appeals court ruled against Concord Pacific Group, one of the country’s biggest property developers, in its long-running dispute with Singapore tycoon Oei Hong Leong over a failed $1.1 billion waterfront project in Vancouver. A majority decision by British Columbia’s Court of Appeal on Tuesday rejected Concord Pacific’s attempt to overturn a […]

Italy Mulls as Much as $4.5 Billion to Fight Soaring Power Bills

(Bloomberg) — Sign up for the New Economy Daily newsletter, follow us @economics and subscribe to our podcast. Italy’s government is readying as much as 4 billion euros ($4.5 billion) to offer immediate help to consumers hit by energy prices, while it works on a wide range of longer term measures, people familiar with the matter said. The aid […]

Oil Driller Wintershall Doubles Down on Mexico Despite Nationalist Setbacks

(Bloomberg) — Wintershall is doubling down on Mexico even as it departs from other Latin American countries and faces nationalist policies from Mexican President Andres Manuel Lopez Obrador. The energy arm of BASF SE will continue to produce oil in the region, focusing on Mexico, after selling shale assets in Argentina and deciding to close […]

Exxon plans to zero out emissions from operations by 2050

Exxon Mobil Corp. announced an “ambition” to eliminate some greenhouse gas emissions by 2050 in the oil giant’s first such long-term pledge to curb carbon output. Over the next two years, Exxon will develop roadmaps for its crude refineries, chemical plants and other facilities to eliminate so-called Scope 1 and 2 emissions, the company said […]

Gilinski Eyes Control of Colombian Business Group With New Bids

(Bloomberg) — Jaime Gilinski is doubling down on his attempt to take over Colombia’s most influential business group.  The billionaire banker on Monday launched an offer to buy as much as $1.1 billion of shares in foodmaker Grupo Nutresa SA. It came on the heels of a bid for as much as $289 million that […]

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