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Senate republicans, joined by Joe Manchin, have voted to roll back the first update to heavy truck pollution standards in 22 years. The new soot standards are estimated to save thousands of lives and tens of billions of dollars.

President Joe Biden has indicated that he will veto this action, so it’s unlikely to go into effect. But it’s just another sign from Senate republicans that they want to kill Americans and cost them money.

Heavy duty trucks are a primary contributor to harmful air pollution. This is particularly true for the types of pollution that harm human health, like ozone, particulate matter and NOx. While light duty vehicles do make up the majority of global warming emissions (CO2), heavy duty vehicles make far more than their fair share of these other harmful pollutants.

And so, in December, the EPA finalized a rule updating heavy truck emissions standards, the first update to these standards since 2001. The rule goes into place starting in model year 2027 and would reduce NOx emissions by 48%. But they are still significantly lighter regulations than those in some states, like California, which is due to update its truck regulations further in a vote happening imminently (Electrek will be covering that vote tomorrow).

The EPA’s 2027 rule would save 2,900 lives, prevent 18,000 cases of childhood asthma and prevent 6,700 hospital admissions. It would also lead to 78,000 fewer lost days of work, 1.1 million fewer lost school days and save $29 billion per year by 2045, and when accounted for in net present value, the benefits are greater than the costs today. These benefits would go disproportionately to disadvantaged communities who live closer to truck routes and depots.

So, these rules are an unequivocal benefit. Like most environmental regulations, they would both reduce costs and improve quality of life. It’s a no-brainer, a win-win for everyone.

And so, yesterday, Senate republicans voted to reverse them. The republicans were joined by Joe Manchin (D-WV), but otherwise the 50-49 vote was entirely along party lines. All 49 republicans and Manchin voted to poison America and waste money, and 48 Democrats and Kyrsten Sinema (I-AZ) voted to clean the air and save money.

Dianne Feinstein (D-CA) is currently on an extended absence and missed the vote, which is what allowed the republicans to push this measure through.

The vote was a resolution under the Congressional Review Act, which allows Congress to block federal regulatory actions. The Act was passed in 1996 but rarely used until 2017, when Congress used it several times, mostly notably to reverse consumer protections implemented under President Obama.

After going through the Senate, the resolution will have to reach the House, where the slim republican majority is likely to approve of poisoning Americans and costing them money. Then, if that happens, it would move on to President Biden, who has signaled that he does not approve of poisoning Americans and costing them money, and will veto it if the effort to do so reaches his desk.

So this effort is unlikely to become law, and everyone knows it. But, seizing on the extended absence of the oldest member of the Senate, republicans still pushed through this rule.

Republicans argued that the reason they want to poison everyone and cost them money is because the cost of complying with these new rules – which, once again, would save, not cost, $29 billion annually – was too high.

Senator Deb Fischer (R-NE), who led the effort, said that since past regulations have worked very well to get emissions down, then new regulations to get emissions down are not necessary – an argument that explicitly acknowledges that regulations work to reduce pollution. She also said that the cost of complying – which could be as little as $2,568 per truck, a small fraction of the price of heavy duty vehicles (which crest six figures easily) – would be too high. Despite, again, calculations showing that this rule would result in not only health benefits, but net financial benefit for the US.

Electrek’s Take

Whenever we write articles like this, we end up getting a few comments saying “stop getting political! it’s not fair that you target one party!”

But all we’re doing here at Electrek is advocating for electric vehicles. We do this openly – you know that this is the position we’re coming from, and you know why we’re doing it. We’re doing it because we like clean air, we like energy efficiency, we like technology, we like better cars. We don’t make a secret about this. We want to live in a better world, and we’re pretty sure you do, too.

But in our coverage of these efforts to live in a better world, there is one party which seems to be unequivocally against doing so. When we cover efforts to make things better, these efforts are not being led by republicans. And when we cover efforts to make things worse, those efforts are being led by republicans.

So when we point out, time and time again, that republicans are voting to poison you, this is not an example of us being partisan. This is an example of republicans picking the side of poison, and us reporting on it factually.

And in this case they aren’t even going to get it into law. They know this, and yet they still voted for it, as if to say: “hey, if given the chance, we want everyone to know that our goal is to kill you and make things worse.” It wasn’t even necessary for them to do so, they could try to keep it a secret or something, but it’s all out in the open.

And so, we have to call these efforts what they are: efforts to poison you and cost you money. We would be happy to see republicans stop these efforts, and they can choose to do so anytime, and we will gladly and fairly report on it if they do.

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Santos shares soar over 15% on ADNOC-led group’s $18.7 billion takeover bid

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Santos shares soar over 15% on ADNOC-led group's .7 billion takeover bid

A series of images of landscapes and wildlife from the Brigalow Belt region of Queensland near the town of St. George.

Colin Baker | Moment | Getty Images

Shares of Santos surged as much as 15.23% Monday, after it received a non-binding takeover offer of $18.72 billion by an Abu Dhabi’s National Oil Company-led group.

The move marks the biggest intraday jump in the Australian oil and gas producer’s shares since April 2020, LSEG data shows.

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CNBC Daily Open: Israel’s conflict with Iran sends tremors through markets

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CNBC Daily Open: Israel's conflict with Iran sends tremors through markets

Fire and smoke rise into the sky after an Israeli attack on the Shahran oil depot on June 15, 2025 in Tehran, Iran.

Getty Images | Getty Images News | Getty Images

Israel’s airstrikes on Iran Friday sent reverberations through financial markets.

Oil prices jumped on fears that supply from Iran, the world’s ninth-largest oil producer in 2023, would be disrupted.

Prices of gold, the stalwart shelter in times of crises, rose. Investors flock to the precious metal amid uncertainty because it serves as a stable store of value that is mostly resistant against exogenous shocks, such as inflation or geopolitical conflicts.

And the dollar strengthened, as it is wont to do when the world looks ugly. Recall the dollar smile: The greenback will appreciate when things are really good because investors want in on U.S. risk assets, or when they are really bad because investors want in on the perceived safety of U.S. government bonds.

The fact that the dollar increased in value against other currencies traditionally perceived as safe havens, such as the Swiss franc and Japanese yen, emphasizes the primacy of king dollar, despite rumblings of de-dollarization and concerns over U.S. government debt.

Stocks, the financial risk asset epitomized, fell across markets globally.

Despite the markets giving multiple indications we are entering a period of ugliness — or, at least, volatility — U.S. stocks still appear resilient, and the surge in oil prices only brings us back to where they were about three months ago as prices have been low since, CNBC’s Michael Santoli wrote.

The markets have, indeed, mostly shrugged off Russia’s invasion of Ukraine and the Israel-Hamas war, both of which are still brewing. But with the conflict between Israel and Iran still in its early days, it might pay to be extra cautious in the coming weeks.

What you need to know today

Israel strikes Iran
On Sunday, Israel launched a series of airstrikes across Iran. That marks the
third day of violence between the two nations. Armed conflict broke out when Israel struck Iran’s nuclear facilities early Friday local time. In retaliation, Iran launched more than 100 drones toward Israeli territory. Those events are likely just the beginning in a rapid cycle of escalation, according to regional analysts.

Stocks retreat globally
U.S. futures rose Sunday night local time. On Friday, fears of a wider conflict in the Middle East sent stocks lower. The S&P 500 lost 1.13%, the Dow Jones Industrial Average fell 1.79% and the Nasdaq Composite retreated 1.3%. Europe’s Stoxx 600 index dropped 0.89%. Travel and airline stocks on both sides of the Atlantic fell as the outlook for international travel grew cloudy and airlines suspended their Tel Aviv flights.

Safe haven assets in demand
Investors piled into safe-haven assets after Israel’s attack on Iran. After weeks of declining, the dollar index, a measurement of the strength of the U.S. dollar against other major currencies, rallied 0.3% on Friday and was up 0.1% as of 7:30 a.m. Singapore time Monday. Spot gold rose 0.38% and gold futures for August delivery were up 0.41% Monday, adding to Friday’s gains of 1.4% and 1.5% respectively.

Prices of oil jump
Oil prices surged as investors feared a disruption to oil supply from Iran, which produced 3.305 million barrels per day in April, according to OPEC’s Monthly Oil Market Report of May. As of Monday morning Singapore time, U.S. crude oil rose 2.22% to $74.62 a barrel, adding to its 7.26% jump on Friday. The global benchmark Brent climbed 2.22% to $75.88 a barrel, following Friday’s 7.02% surge.

[PRO] U.S. stocks still look resilient
Even though stocks fell on the eruption of conflict between Israel and Iran, the market appeared resilient, wrote CNBC’s Michael Santoli. This week, while hostilities between the two Middle East countries will continue weighing on investors’ minds, they should not lose sight of the Federal Reserve’s rate-setting meeting, which concludes Wednesday.

And finally…

The Boeing 787-9 civil jet airplane of Vietnam Airlines performs its flight display at the 51st Paris International Airshow in Le Bourget near Paris, France. (Photo by: aviation-images.com/Universal Images Group via Getty Images)

aviation-images.com | Universal Images Group | Getty Images

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Oil prices jump more than 3%, adding to last week’s surge, as Israel strikes Iran energy facilities

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Oil prices jump more than 3%, adding to last week's surge, as Israel strikes Iran energy facilities

Fire and smoke rise into the sky after an Israeli attack on the Shahran oil depot on June 15, 2025 in Tehran, Iran.

Getty Images | Getty Images News | Getty Images

Crude oil futures jumped more than 3% Sunday after Israel struck two natural gas facilities in Iran, raising fears that the war will expand to energy infrastructure and disrupt supplies in the region.

U.S. crude oil rose $2.72, or 3.7%, to $75.67 per barrel. Global benchmark Brent was up $3.67, or 4.94%, at $77.90 per barrel.

Israeli unmanned aerial vehicles struck the South Pars gas field in southern Iran on Saturday, according to Iranian state media reports. The strikes hit two natural gas processing facilities, according to state media.

It is unclear how much damage was done to the facilities. South Pars is one of the largest natural gas fields in the world. Israel also hit a major oil depot near Tehran, sources told The Jerusalem Post.

Iranian missiles, meanwhile, damaged a major oil refinery in Haifa, according to The Times of Israel.

Oil prices closed more than 7% higher Friday, after Israel launched a wave of airstrikes against Iran’s nuclear and ballistic missile programs as well as its senior military leadership.

It was the biggest single-day move for the oil market since March 2022 after Russia launched its full-scale invasion of Ukraine. U.S. crude oil jumped 13% in total last week.

The war has entered its third day with little sign that Israel or Iran will back down, as they exchanged barrages of missile fire throughout the weekend.

Iran is considering shutting down the Strait of Hormuz, a senior commander said on Saturday. About one-fifth of the world’s oil is transported through the strait on its way to global markets, according to Goldman Sachs. A closure of the strait could push oil prices above $100 per barrel, according to Goldman.

However, some analysts are skeptical Iran has the capability to close the strait.

“I’ve heard assessments that it would be very difficult for the Iranians to close the Strait of Hormuz, given the presence of the U.S Fifth Fleet in Bahrain,” Helima Croft, global head of commodity strategy at RBC Capital Markets, told CNBC’s “Squawk Box” on Friday.

“But they could target tankers there, they could mine the straits,” Croft said.

Catch up on the latest energy news from CNBC Pro:

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