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Fossil fuel spending to fall for first time since pandemic

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Fossil fuel spending to fall for first time since pandemic

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Investment in fossil fuels will fall this year for the first time since the Covid pandemic, according to the International Energy Agency, led by a contraction in the oil sector where a sharp drop in prices is forcing companies to reassess their plans. 

In its annual report on money flowing into the energy sector, the IEA predicted a 6 per cent drop in spending on oil production this year. Excluding the Covid-19 pandemic years, it will mark the largest fall since 2016, when oil prices crashed below $30 a barrel. 

“This is the first time we have seen such a decline, except for Covid, because of lower prices and lower oil demand,” said Fatih Birol, the head of the Paris-based intergovernmental energy advisory body. 

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Since hitting $82 a barrel in mid-January, oil prices have fallen to about $65 a barrel after Opec, the oil cartel, started to significantly increase its production. The IEA said US shale oil producers, who account for 15 per cent of global spending on oil production, were the most sensitive to lower prices and would cut their investment by 10 per cent this year. 

It also expects international oil majors to slightly reduce their spending, as they prioritise shareholder returns. The pullback means that the giant state oil companies of the Middle East and Asia will account for 40 per cent of all spending on oil and gas this year, compared with a quarter ten years ago. 

International oil companies are also continuing to cut their spending on clean energy, with the IEA noting that they had collectively invested $22bn in low emissions technology in 2024, some 25 per cent less than the year before.

Overall, the IEA said the world would spend $1.1tn on fossil fuels in 2025, compared with more than $2.2tn on renewable energy, nuclear, batteries, power grids, low emission fuels and energy efficiency. 

While overall spending on fossil fuels will shrink by 2 per cent this year, China and India have both committed to build significant fleets of coal-fired power plants to meet rapid electricity demand growth. By contrast, for the first time on record, the world’s advanced economies placed no new orders for turbines for coal-fired plants. 

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“The addition of coal is mainly driven by energy security reasons,” said Birol. “China had some bitter experiences when there was very hot weather and hydropower was very weak.” 

In the US, where the Trump administration has been plain about its disdain for renewable energy, Birol said the jump in electricity demand from AI and data centres would mean that there would be an additional need for renewables, gas and nuclear.

In a separate report, Enverus, a research firm, said that while there are 517 gigawatts of renewable energy projects in the US that need federal tax credits to be viable, there are 284 gigawatts that do not require such funding.

“If these projects are built at the same pace as last year, that is enough to sustain today’s build-out pace for more than six years,” said Corianna Mah, an analyst at Enverus.

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Supreme Court financial disclosures reveal how their books add to their income

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Supreme Court financial disclosures reveal how their books add to their income

Supreme Court Justice Amy Coney Barrett speaks at the Reagan Library on Sept. 9, 2025, in Simi Valley, Calif. Barrett discussed and signed copies of her new book, Listening to the Law: Reflections on the Court and Constitution.

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Even as the Supreme Court was handing down one legal thunderbolt after another last week, the justices were quietly releasing their annual financial reports. Justice Samuel Alito was the only sitting justice to request an extension, which he has done for 15 years. The disclosures do not give a complete account of the justices’ total income and wealth, but they give insights into their concertgoing, guest professorships and even their involvement in youth sports.

In addition to their salaries, much of the justices’ reported income came from their book deals. Justice Ketanji Brown Jackson led the pack earning more than $1.1 million last year for a total of roughly $4 million since her memoir, Lovely One, was published in 2024.

Justices Sonia Sotomayor, Neil Gorsuch, Amy Coney Barrett and retired Justice Anthony Kennedy also reported income from published books. Earnings from their books ranged from $849,000 for Barrett, to $300,000 for Gorsuch and $88,000 for Sotomayor, whose books include her 2013 autobiography and five children’s books. Justice Clarence Thomas, who previously earned $1.5 million for his 2007 memoir, listed no publisher payments last year, and Justice Brett Kavanaugh, one of 13 co-authors of a 2016 legal treatise, also received no payments last year. Kavanaugh is said to be working on a memoir but he listed no payments for the anticipated book. Alito does have a book coming out in the fall, but with his financial report still outstanding, there is no data on how much he was paid for the work in 2025.

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The only two sitting justices who have not written books are Chief Justice John Roberts and Justice Elena Kagan.

Many justices also earned income from teaching at law schools. Roberts reported income from New England Law, located in Boston, and Gorsuch reported teaching income from George Mason University in Virginia. Thomas taught classes at Catholic University in Washington, D.C., and Barrett and Kavanaugh taught at Notre Dame Law School. Barrett graduated from the school and began teaching there 23 years ago; Kavanaugh has family connections to Notre Dame.

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Manhattan Building’s Columns Buckled Beneath New Addition, Images Show

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Manhattan Building’s Columns Buckled Beneath New Addition, Images Show

At least two structural columns buckled and failed in a 37-story office tower in Midtown Manhattan on Tuesday, prompting evacuations of nearby streets and buildings. While city officials asserted that the tower was in no danger of collapsing completely, outside engineers said further failures in the structure could not be ruled out.

A pair of columns that failed completely were part of the tower’s existing structure. A New York Times review of images and videos from inside the building has found that several floors were added atop these columns.

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City officials said in a news conference on Tuesday that the building was continuing to move, while they simultaneously assured the city that the building would not suffer “total collapse.” “The way this building is constructed, it’s a steel-frame building,” John Esposito, a chief in the Fire Department in New York, said at the afternoon news conference. “So, it would not be a total collapse. It would be more of a localized collapse.” Still, he said, “that remains our concern, that it’s moved.”

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Engineers said that the movement itself was cause for concern. In a properly designed steel building, they said, loads should redistribute quickly to surviving structural supports if columns failed.

Joe DiPompeo, a former president of the Structural Engineering Institute at the American Society of Civil Engineers, said that if the structure had been overloaded, he would expect any movement “to happen very quickly,” rather than gradually.

“Generally when a column buckles, it’s a sudden failure,” Mr. DiPompeo said. He said that a full collapse remained unlikely given the redundancies built into the building codes.

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Engineers often refer to the most dangerous possibility as a progressive collapse, a process in which structures near the initial failure become overstressed and also fail, potentially bringing down the building if the sequence continues. While unlikely, it cannot be ruled out, Mr. DiPompeo said.

Footage recorded from inside the building shows at least two structural columns appear to have failed completely, Mr. DiPompeo said. Other nonstructural, interior walls — or at least the metal “studs” that were in place to hold them up — also appear to have deformed.

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“The only way that really happens is if the floor above them dropped. It looks like the floor above could have dropped a foot or two, which is obviously not a good situation,” Mr. DiPompeo said.

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Image from @fernando40tiktok.commarc via Storyful

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The 37-story building is in the process of being converted from office space into residential units. Four new floors and a large vertical portion were added onto the existing building in recent months. The vertical portion consists of a stack of over a dozen new floors cantilevered out over the existing building below.

Engineers said that there was nothing inherently wrong with adding residential floors or the cantilevered section above the columns that failed, as long as the original structure and the modifications had properly accounted for the added weight and wind loads.

“The cantilever alone doesn’t change anything,” Mr. DiPompeo said, but it does put additional load on the columns underneath — a factor that should have been reflected in the design.

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Nathan Berman, managing principal and founder of MetroLoft, the developer overseeing the conversion, said on Tuesday that “this incident is nothing more than a typical construction mishap.”

He said two columns near the northwest corner of the tower had bent under the weight of additions to the building above, most likely because those columns had not been properly reinforced, though he said an investigation would determine the cause. The rest of the columns, he said, “picked up the weight.” He estimated the affected floors above the failed columns had sagged by a maximum of four inches.

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Mr. Berman said that he expected the problems to be fixed and the project to be completed with, at most, a slight delay.

On Tuesday evening, installation of temporary shoring was set to begin shortly, in order to help stabilize the 20th and 21st floors of the building.

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DOJ warns of criminal charges for state election officials if noncitizens vote

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DOJ warns of criminal charges for state election officials if noncitizens vote

The Justice Department sent letters warning election officials in all 50 states and the District of Columbia that they could face criminal prosecution over noncitizen voting, a spokesperson for the Justice Department confirmed Tuesday.

The letters, signed by Assistant Attorney General Harmeet Dhillon, who heads up the department’s Civil Rights Division, give states five days to explain how they will comply with federal voter eligibility laws and how they will maintain “clean voter lists.”

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“The Department sent these letters to all 50 states and the District of Columbia, asking for voluntary compliance in a timely manner with their obligations under federal law to ensure only citizens vote in federal elections,” a Justice Department spokesperson said in a statement.

Noncitizen voting in federal elections is extremely rare, but Trump and his administration have falsely portrayed it as a widespread issue.

Michigan Secretary of State Jocelyn Benson, Nevada Secretary of State Francisco Aguilar and Utah Lt. Gov. Deidre Henderson are among those who said they received the letters from the Justice Department.

The letters say state election officers “could be criminally prosecuted for aiding and abetting” noncitizen voting. They further specify that any election officer who knowingly retains noncitizens on a statewide voting registration list or who facilitates noncitizens’ receiving and casting ballots could be subject to criminal liability.

“An intentional act that is aimed at diluting the votes of citizens could also constitute a violation” of federal law, the letters said.

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Henderson wrote on social media that the threats constitute “truly bizarre behavior.”

“Got another love letter this morning from the DOJ sprinkled throughout with threats of criminal prosecution,” she wrote. “I’m sure I’m not the only chief election officer of a state who is being targeted for following state and federal laws by resisting DOJ’s demands for private voter data that have thus far been ruled illegal by at least a dozen courts.”

The letters are the latest move in the Justice Department’s campaign to assert more federal control over state elections.

While some states have complied with the administration’s demands that they hand over voter roll data, the Justice Department has sued 30 states and Washington, D.C., for resisting. So far, 11 different federal courts have dismissed the Justice Department’s efforts to seize voter rolls.

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