BLOOMBERG President Joe Biden authorised a giant ConocoPhillips oil project in northwest Alaska that environmentalists argue has no place in a warming world, even as he sought to bar future drilling across US Arctic waters and lands. The approach represents Biden’s bid for a middle ground, as he seeks to accelerate the transition away from fossil fuels while bound by ...

BLOOMBERG Oil tumbled, shaken by the biggest US bank collapse since 2008 as investors fled from risk assets and sought shelter in government bonds and gold. The failure of Silicon Valley Bank roiled markets as traders try to assess how the collapse will reverberate across the economy. Global benchmark Brent crude fell below $80 for the first time in more ...

BLOOMBERG For over a decade, Viridos Inc. was the centerpiece of Exxon Mobil Corp.’s heavily advertised push to develop climate-friendly biofuels from algae. The oil major slashed its support for the company last year. Now Viridos, based in La Jolla, California, has secured funding from a new group of backers. Viridos announced on Monday a $25 million round of financing ...