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• Xcel Energy admits its operations might have caused wildfires in Texas
  Xcel Energy acknowledges potential involvement in the Texas wildfires,...
  Xcel Energy acknowledges potential involvement in the Texas wildfires, which burned over 1.3 million acres, due to its facilities possibly igniting the Smokehouse Creek fire. The company is cooperating with ongoing investigations and conducting its own review. However, Xcel disputes allegations of negligence in maintaining and operating power lines in the area, as claimed in lawsuits, one of which attributes the fire's origin to a fallen utility pole.
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• Rice University fellow discusses the future for oil
  Hydrocarbons will remain a crucial energy source for the foreseeable...
  Hydrocarbons will remain a crucial energy source for the foreseeable future, and oil demand will continue to grow, driven primarily by economics rather than politics, said Rice University's Kenneth Medlock III at a recent conference. Medlock also underscored the importance of innovation in the energy sector, highlighting the need for technologies that can integrate seamlessly into existing supply chains to drive substantial change.
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• ☕️ What Else Is Brewing Thursday Morning
  Nikki Haley drops out of presidential...
  Nikki Haley drops out of presidential race. After getting Ls in every state besides Vermont on Super Tuesday, the former South Carolina governor suspended her campaign, all but ensuring a Trump–Biden rematch in November. Despite bowing out, Haley didn’t immediately endorse former President Donald Trump, saying it was now up to him “to earn the votes of those in our party and beyond it who did not support him. And I hope he does that.” But another GOP figure who has sparred with Trump did offer an endorsement yesterday: Senate Majority Leader Mitch McConnell threw his support to the former president despite having said harsh words in the past about his role in the Jan. 6 Capitol riot.
  
  OpenAI makes Elon Musk’s emails public. Saying it would seek the dismissal of Musk’s lawsuit accusing it of straying from its mission by seeking profits over benefiting humanity, OpenAI published a blog post containing emails Musk allegedly sent while still involved with the organization (which he co-founded but broke with in 2018). The post claims Musk actually wanted to shift OpenAI to a for-profit model—with himself as CEO, saying billions of dollars were needed to compete with Google, and that he suggested merging it with his car company, Tesla. Separately, after reports circulated that he met with Donald Trump, Musk said he wasn’t donating to either Trump or Biden.
  
  Watered-down climate disclosure rules for businesses approved. The SEC voted yesterday to finalize new regulations requiring public companies to divulge their greenhouse gas emissions after nixing a provision businesses spent years lobbying against that would have also required them to state indirect emissions from their supply chains and customers’ use of their products. But even the weakened rules face an uphill battle: 10 states have already filed a legal challenge to them, and others are likely to follow. The rules have been a political flashpoint, with the Biden administration saying they’re necessary to fight climate change and Republicans and business groups saying they’re outside the scope of the agency’s authority.
  
  
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• Dow trims early gains, but U.S. stocks end higher to break two-day losing run
  U.S. stocks closed higher on Wednesday, yet ended well off the session's...
  U.S. stocks closed higher on Wednesday, yet ended well off the session's best levels, after Federal Reserve Chair Jerome Powell said he wants more evidence that inflation is easing before pivoting to rate cuts.
  
  The Dow Jones Industrial Average gained about 0.2%, ending near 38,661, while the S&P 500 index rose 0.5% and the Nasdaq Composite Index advanced 0.6%, according to preliminary FactSet data.
  
  Stocks earlier in the week booked back-to-back losses as momentum around the group of "Magnificent Seven" technology stocks continued to fracture.
  
  Among that group of mega-cap stocks, shares of Tesla Inc. ended down nearly 29% on the year on Wednesday, while those of chip maker Nvidia Corp. have gained more than 78% over the same stretch, according to FactSet data.
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• Existing gas plants omitted from EPA's initial carbon rule
  The Environmental Protection Agency's upcoming regulations to limit...
  The Environmental Protection Agency's upcoming regulations to limit power plant emissions, expected to be finalized in April, will focus solely on emissions from existing coal and new gas-fired power plants, leaving out existing natural gas facilities. The exclusion is temporary, as EPA Administrator Michael Regan has revealed plans for a "stronger, more durable" approach to address emissions from existing plants.
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