Kevin Killough

“We firmly believe that fossil fuels drive immense benefits for our company, consumers, the American economy, and ultimately, the world. We do not apologize for it,” Ron Gusek, president of Liberty Energy, told the committee.

The administration's announcement refers to carbon capture as “proven and cost-effective control technologies," but critics have argued that the technology is expensive to scale up to a degree it can have any impact on carbon dioxide emissions and will drive up energy costs.

Vehicles from China face a 27.5% tariff, but under a law that allows companies with factories in the U.S. to get refunds for the tariffs they pay. Volvo has a factory in South Carolina, which makes it eligible for the program.

The company's other sectors, which includes its Ford Pro fleet business and Ford Blue gas-powered and hybrid vehicle business, made up for the losses on its EV lines. Hybrid vehicles combine aspects of EVs and gas-powered engines. The company posted a net income of $1.3 billion in the first quarter, with revenues of $42.8 billion.

China has increased its total coal-fired generation capacity by 233 gigawatts, whereas the U.S. has retired more than 95 coal-derived gigawatts in production.

While Musk was throwing out ideas and speaking optimistically of the future, others are raising doubts about the long-term viability of the company. Tesla could be the canary in the coal mine as to the future of EV cars.

“So no EVs in my future, and I won't be the sucker who says yes next time,” Diane Strain said about the experience.

The wind industry produce 2.1% less electricity in 2023 compared to the previous year. Total wind capacity in the U.S. has tripled from 47 gigawatts in 2010 to 147.5 gigawatts by the end of 2023.

Critics argue that the BLM rule would block the use of public lands for resource development, grazing, and recreation, and it goes against the agency's Congressionally designated authority.

Republican lawmakers are asking how often environmental groups are consulted when developing these rules, where these groups get their funding, and if their relationships with federal agencies breaches ethical or legal lines.