EPA Administrator Lee Zeldin joins 'Varney & Co.' to discuss the Trump administration's efforts to address high diesel prices, the push to build more refineries, AI data center regulations and more. 00:00 Record gas and diesel prices 00:39 EPA actions to lower energy costs 01:38 Building new U.S. oil refineries 02:49 U.S. energy dominance in the Indo-Pacific 03:24 The impact of AI data centers on the power grid 04:47 Cutting $30 billion in EPA waste and fraud
The average price of diesel topped its 2022 record high on Friday, spiking to $5.85 per gallon, per AAA . Why it matters: Farmers, truckers and freight companies have been absorbing higher diesel costs since the Iran war began. The ballooning price threatens to further raise shipping costs while compounding a growing political problem for President Trump . - It can also indirectly affect households by putting inflationary pressure on anything Americans buy that's carried by truck, which includes a massive share of goods. Driving the news: Diesel has been rising steadily for weeks, but surged 17 cents in just the last two days. - The previous record was $5.816, per AAA, set in June 2022. - Diesel typically costs more than gasoline…
Russia says it shot down more than 800 Ukrainian drones in what appears to be among Ukraine’s largest aerial attacks on Russia, with authorities reporting at least six people killed. The two sides have escalated their air war on one another, with Ukraine increasingly firing barrages of drones at targets deep inside Russia, including warehouses and industrial plants as well as refineries. CNN military analyst Cedric Leighton breaks down Ukraine's drone strategy and CNN producer Sebastian Shukla has more details on the strikes. 0:00 Ukraine's aerial attack strikes Moscow area e-commerce warehouse 0:53 Retired colonel details how Ukraine's drone attacks have changed the war 4:46 Ukraine strikes malls in Russian-controlled territories 5:46…
The wars in Iran and Ukraine show how the drone tech revolution makes it easier — and cheaper — to interrupt energy supplies by striking refineries and oil tankers. Why it matters: It's an important reason why oil traded at $100 per barrel this week and gasoline and diesel fuel are so expensive these days. - Looking ahead, the way drones are reshaping modern warfare has high stakes for how policymakers and companies view new and existing power grids, pipelines, liquefied natural gas ports and plenty in between. The big picture: "Anyone building energy infrastructure in any area where kinetic conflict is even remotely possible is going to have to think about drone defense," said Gregory Brew, an analyst with the Eurasia Group, a…
The Ukrainian military is proving it can blow up pretty much whatever it wants. Why it matters: Fewer and fewer places feel safe inside Russia , as oil facilities, weapons factories, convoys and bombers burn. Driving the news: Russia is facing fuel shortages due to repeated refinery strikes, at least one of which sent Muscovites scrambling for cover amid explosions and "black rain." - Ukrainian President Volodymyr Zelensky has claimed Russia relocated the bulk of its air defenses to cover key areas, like central Moscow and a presidential residence, leaving other targets exposed. - Russian President Vladimir Putin has acknowledged "problems" and "certain shortages" related to the strikes, but attempted to downplay their significance. …
Ukraine's sustained and sophisticated drone warfare has knocked out refineries, tilted the battlefield balance and brought the war home to some Russians for the first time in four years of fighting. Why it matters: With Ukrainian confidence running high, and Russia struggling to provide fuel to its cities and supplies to its troops, President Volodymyr Zelensky says he's launching a "40-day influence operation" to force Moscow to sign a peace deal. Driving the news: Hours after Zelensky's announcement on Thursday came one of the largest drone attacks of the war, targeting 12 regions of Russia as well as occupied Crimea. - Russian authorities said at least 660 Ukrainian drones were intercepted. Explosions were reported at a chemical…
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