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Harris selects Minnesota's Walz as running mate

  • Spanish Market: Biofuels, Coal, Crude oil, Emissions, Natural gas, Oil products
  • 06/08/24

Democratic presidential candidate Kamala Harris has picked Minnesota governor Tim Walz (D) as her running mate, elevating a Midwestern voice who has championed ambitious policies on climate change and clean energy during his two terms as governor.

Walz, who was a schoolteacher before serving in the US Congress and then as governor, only recently emerged on the national stage as a favorite of progressives who could take on Republicans. Harris said she chose Walz as her running mate based partly on his "convictions on fighting for middle class families" and his efforts to deliver for "working families like his own."

Harris will appear with Walz today at a rally in Philadelphia, Pennsylvania, in the first event the campaign says will be a "five-day barnstorm" to introduce the Democratic ticket to voters in battleground states. The Harris campaign today touted Walz's service in the military and election in a conservative-leaning district as a sign of his broader political appeal.

In 2021, Walz made Minnesota the first state in the Midwest to adopt California's tailpipe standards, and last year he signed a law requiring Minnesota utilities to switch entirely to wind, solar and other carbon-free electricity sources by 2040. Walz signed a separate law in June that would expedite the state's permitting process for renewable power projects.

The campaign for Republican nominee Donald Trump today said Walz was a "West Coast wannabe" who as governor replicated California's policies on the environment. "From proposing his own carbon-free agenda, to suggesting stricter emission standards for gas-powered cars and embracing policies to allow convicted felons to vote, Walz is obsessed with spreading California's dangerously liberal agenda," Trump campaign press secretary Karoline Leavitt said.

Minnesota does not produce any crude or natural gas and has no coal mines. As of 2022, coal-fired power plants represented 27pc of Minneosta's in-state electricity generation, nuclear generated 24pc of electricity and renewable resources supplied 31pc of electricity. Minnesota is the fifth-largest ethanol producer in the US and has a production capacity of 1,400mn USG/yr.

Environmentalists applauded Walz's selection as a running mate who has sought ambitious policies related to climate change and clean energy, in addition to signing a law last year providing $2bn for environment, climate and energy. The Harris-Walz ticket "isn't afraid to tackle climate change head-on," Sierra Club executive director Ben Jealous said.

Harris' vice presidential selection meant passing over Pennsylvania governor Josh Shapiro (D), who was also being vetted as someone who could help Harris win the battleground state. Democrats hope the selection of Walz will offer a contrast to Republican vice presidential nominee JD Vance, who Walz has criticized as "just weird" for positions such as faulting women for not having children.


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15/07/25

EU proposes support package for chemicals sector

EU proposes support package for chemicals sector

The measure aims to address high energy costs, global competition and weak demand, writes Dafydd ab Iago Brussels, 15 July (Argus) — The European Commission on 8 July proposed measures to support the EU chemicals sector, aiming to address high energy costs, global competition and weak demand. The plan includes extending emissions trading system (ETS) compensation to more producers and simplifying fertilizer registration rules. The commission says the simplification measures could save the sector €363mn/yr ($423mn/yr). The proposals are part of a broader plan to boost competitiveness and secure supply chains. A new Critical Chemicals Alliance will identify key production sites needing policy support, targeting trade issues such as supply chain dependencies and market distortions. The commission also pledged to apply trade defence measures more quickly and expand chemical import monitoring. Although the commission stopped short of proposing a Critical Chemicals Act — which would legally define specific chemicals for support — it named steam crackers, ammonia, chlorine and methanol as "essential" to the EU economy. The alliance will aim to align investment and co-ordinate support, including through the bloc's Important Projects of Common European Interest programme. The commission also defined low-carbon hydrogen and plans to allow more state aid for electricity-intensive chemical producers by year-end. It encouraged the use of carbon capture, biomass, waste and renewables. The plan uses "all levers" to put the sector back on a growth track, with measures to retain steam crackers and other key assets in Europe, EU industry commissioner Stephane Sejourne says. He also highlighted efforts to secure domestic demand for "clean and made-in-Europe chemicals". Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

Alt-fuel ship orders fall in 1H25: DNV


15/07/25
15/07/25

Alt-fuel ship orders fall in 1H25: DNV

Sao Paulo, 15 July (Argus) — Ship orders for new alternative-fuelled vessels fell to 151 in the first half of 2025 compared with 179 a year earlier, according to Norway-based classification agency DNV. These orders represented 19.8mn gross tonnes, up by 78pc from the same period in 2024. LNG-fuelled vessels accounted for 87 of the new orders in the first half, followed by 40 methanol-fuelled ships, 17 LPG-powered vessels, and four hydrogen and three ammonia-fuelled ships. Orders stood at 19 in June, up from 16 in May, with two of these LPG-fuelled carriers. The total fleet of ships that could run on LPG stood at just over 150 in the final quarter of last year , with around 126 on order by 2028 following the latest additions, as orders lag other fuel types despite low prices because of safety issues and a lack of four-stroke engines. New orders, 1H 2025 Fuel Number of vessels LNG-fueled 87 Methanol-fueled 40 LPG-fueled 17 Hydrogen-fueled 4 Ammonia-fueled 3 DNV Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

Opec+ 8 speed up output hike to 548,000 b/d for August


15/07/25
15/07/25

Opec+ 8 speed up output hike to 548,000 b/d for August

London, 15 July (Argus) — A group of eight Opec+ members have agreed to further speed up their plan to increase crude production, the Opec secretariat said on 5 July. Saudi Arabia, Iraq, Kuwait, Russia, the UAE, Algeria, Oman and Kazakhstan will raise their collective crude production target by 548,000 b/d in August, relative to July. This compares with previous month-on-month hikes of 411,000 b/d for May, June and July. This pace is also four times faster than the eight's original plan to unwind 2.2mn b/d of voluntary crude production cuts at a rate of 137,000 b/d each month between April 2025 and September 2026. The decision means they will have restored almost 80pc of a scheduled 2.46mn b/d increase — which includes a 300,000 b/d capacity-related adjustment for the UAE — in just five months. Should the eight opt for another 548,000 b/d increase for September, they will have fully unwound the cuts 12 months earlier than planned. That would shift focus to a second layer of voluntary cuts totalling 1.66mn b/d that is being implemented by the same eight producers plus Gabon, which are scheduled to remain in place until the end of 2026. The move comes against a backdrop of continued economic uncertainty, largely driven by US trade policy and a rise in geopolitical risk owing to the recent 12-day Israel-Iran war. Supply fears linked to the conflict helped push front-month Brent futures to above $81/bl on 23 June, although prices have since fallen back to around $68/bl — below where many producers prefer. Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

Trump threatens 35pc tariff on Canada by 1 August


15/07/25
15/07/25

Trump threatens 35pc tariff on Canada by 1 August

Houston, 15 July (Argus) — The US will impose a 35pc tariff on all imports from Canada effective on 1 August, President Donald Trump said in a 10 July letter to Canadian prime minister Mark Carney. The letter, which Trump posted on social media, noted that Canada previously planned retaliatory tariffs in response to the US' first tariff threats in the spring. He repeated his earliest justification for the tariffs — the illegal smuggling of fentanyl into the US from Canada — and said he would consider "an adjustment" to the tariffs if Canada worked with him to stop that flow. Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

US inflation quickens to 2.7pc in June


15/07/25
15/07/25

US inflation quickens to 2.7pc in June

Houston, 15 July (Argus) — US consumer inflation accelerated in June as the effects of President Donald Trump's tariffs began to filter through to households. The consumer price index (CPI) rose last month by a 2.7pc annual pace after rising by 2.4pc in May, the Bureau of Labor Statistics said Tuesday. June's gain was in line with expectations of economists surveyed by Trading Economics. So called core inflation, which strips out volatile food and energy, rose in June at a 2.9pc annual pace after a 2.8pc gain in May. The energy index fell by 0.8pc in the 12 months through June, slowing from May's 3.5pc drop. The food index rose in June at a 3pc pace after a 2.9pc gain in May. Annual price gains in consumer goods included 4pc for window and floor coverings, 3.7pc for nonelectric cookware and 1.9pc for appliances. The CME's FedWatch tool after the inflation report showed a 97.4pc probability the Federal Reserve will hold its target lending rate unchanged at 4.25-4.5pc at its meeting later this month, up from 93.8pc on Monday. The likelihood of a September rate cut was 55.8pc following the report. The Fed has repeatedly said it will continue to monitor the effects of Trump's tariff and fiscal policies before cutting rates further. Rising inflation in June appears to validate the Fed's cautious stance toward adjusting borrowing costs. Services less energy services, viewed as a core services measure, rose by 3.6pc in the 12 months through June, unchanged from May. Gasoline fell in June at an 8.3pc annual pace while piped gas services rose by 14.2pc. Shelter costs rose by 3.8pc, and new vehicle prices rose at a 0.2pc annual pace. On a monthly basis, the CPI rose by 0.3pc in June, the highest since January, following a 0.1pc uptick in May. By Bob Willis Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

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