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Paid to walk away: The Trump administration announced two more payouts Monday for energy companies to walk away from U.S. offshore wind projects under development. Bluepoint Wind and Golden State Wind have agreed to end their offshore wind leases in exchange for reimbursements totaling nearly $900 million. Both companies have decided not to pursue any new offshore wind projects in the U.S., the Interior Department announced Monday. Read more from Associated Press.
Seeking flexibility: The United Arab Emirates will leave OPEC and its wider alliance May 1, a major shift in global energy markets as war-related supply disruptions reshape oil strategy. The move deals a blow to Saudi-led production coordination and signals the UAE wants more flexibility to respond to market conditions. Oil futures climbed near $111 a barrel as investors weighed implications for supply and pricing. Read more from Bloomberg. A subscription may be required.
Elevated options: McDonald’s said Tuesday it will launch six crafted beverages in U.S. restaurants on May 6. It’s joining other chains, such as KFC, Wendy’s and Taco Bell, that have elevated their drinks in order to lure customers away from rivals like Starbucks and Dutch Bros. McDonald’s says visual appeal—think bright colors and foams—and drinks as a form of self-expression are increasingly important to customers. Read more from the Associated Press.
