Moving forward: A Louisiana Senate-approved bill that would invalidate environmental lawsuits filed against oil and gas companies by local governments now awaits House consideration, The Daily Advertiser reports. The House Natural Resources and Environment Committee voted 9-3 to advance the measure—SB440, by Sen. Michael “Big Mike” Fesi, R-Houma. The bill requires the money parishes would have spent on the lawsuits to go to coastal restoration efforts. Read the full story.
Record lows: With mortgage rates tumbling to new lows, some are beginning to wonder just how far they will fall, The Washington Post reports. According to the latest data released today by Freddie Mac, the 30-year fixed-rate average sank to a record-low 3.15%. It is the lowest recorded since Freddie Mac began tracking mortgage rates in 1971, and it surpassed the previous historic low of 3.23% set in late April. The 30-year fixed rate, which was 3.24% a week ago and 3.99% a year ago, has set new lows three times in just the past few months. Read the full story.
Energy changes: The U.S. consumed more energy from renewable sources last year than from coal, the first time that’s happened since the late 1800s when it replaced wood for powering steamships and trains, Bloomberg reports. Coal accounted for 11.3 quadrillion British thermal units of energy in 2019, a 15% decline from the prior year, a drop driven mainly by utilities turning away from the fuel. Renewables recorded 11.5 quadrillion Btu, up 1.4%, according to a statement today from the U.S. Energy Information Administration. Read the full story.
