Key Takeaways
- President Trump intends to quickly nominate a replacement for Federal Reserve Governor Lisa Cook.
- A WSJ columnist argues the renewable energy industry can thrive despite subsidy rollbacks.
- ExxonMobil held secret discussions with Russia's Rosneft to resume work on a Russian project.
Deep Dive
- President Trump intends to quickly nominate a replacement for Federal Reserve Governor Lisa Cook.
- Stephen Myron and former World Bank President David Malpass are reportedly considered for the role.
- Cook has asserted the president lacks authority to remove her, anticipating legal action.
- WSJ columnist Jinjoo Lee argues the renewable energy industry can remain resilient despite subsidy rollbacks.
- Sector stocks have underperformed the S&P 500 this year, unlike natural gas and nuclear energy producers.
- The long-term outlook is positive due to rising electricity demand and faster construction times for wind and solar projects.
- ExxonMobil held secret discussions with Russia's Rosneft about resuming work on a Russian project.
- Resumption is contingent on government approval and a potential Ukraine peace deal.
- The peace deal would reportedly be brokered by President Trump.