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    Yellen to Warn China Against Flood of Cheap Green Energy Exports

    The Treasury secretary, who plans to make her second trip to China soon, will argue that the country’s excess industrial production warps supply chains.The Biden administration is growing increasingly concerned that a glut of heavily subsidized green technology exports from China is distorting global markets and plans to confront Chinese officials about the problem during an upcoming round of economic talks in Beijing.The tension over industrial policy is flaring as the United States invests heavily in production of solar technology and electric vehicle batteries with funding from the Inflation Reduction Act of 2022, while China pumps money into its factory sector to help stimulate its sluggish economy. President Biden and Xi Jinping, China’s leader, have sought to stabilize the relationship between the world’s two largest economies, but differences over trade policy, investment restrictions and cyberespionage continue to strain ties.In a speech on Wednesday afternoon, Treasury Secretary Janet L. Yellen will lay out her plans to raise the issue of overcapacity with her Chinese counterparts. At the Suniva solar cell factory in Norcross, Ga., she will warn that China’s export strategy threatens to destabilize global supply chains that are developing around industries such as solar, electric vehicles and lithium-ion batteries, according to a copy of her prepared remarks reviewed by The New York Times.“China’s overcapacity distorts global prices and production patterns and hurts American firms and workers, as well as firms and workers around the world,” Ms. Yellen will say. “Challenges for individual firms can lead to concentrated supply chains, negatively impacting global economic resilience.”The Treasury secretary is expected to make her second trip to China in the coming weeks. The South China Morning Post reported that she will visit Guangzhou and Beijing in early April. The Treasury Department declined to comment on her travel plans.In her speech in Georgia, Ms. Yellen will compare China’s investments in green energy technology production to what she described as its previous overinvestment in steel and aluminum, saying it created “global spillovers.”We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

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    Former Ohio House Speaker Hit With 10 Additional Felony Charges

    Larry Householder, already serving a 20-year federal prison sentence, was indicted on additional state felony charges on Monday in connection with a sprawling bribery scheme.A former speaker of the Ohio State House of Representatives, now serving a 20-year federal prison sentence, was indicted on 10 more state felony charges on Monday in connection with a sprawling bribery scheme that handed a $1.3 billion bailout to a major regional energy utility.The charges against the former speaker, Larry Householder, followed an inquiry by the Ohio Organized Crime Commission that also produced indictments last month of two former executives of the Akron-based utility, FirstEnergy Corporation.The two men — Chuck Jones, a former FirstEnergy chief executive officer, and Michael Dowling, a senior vice president — were charged with funneling $4.3 million in bribes to the former chairman of the Ohio Public Utility Commission, Sam Randazzo. They and Mr. Randazzo, who was also indicted, have pleaded not guilty to a total of 27 charges.The FirstEnergy case has been called the largest political scandal in Ohio history. Mr. Householder was convicted of accepting $60 million in bribes in exchange for shepherding into law a mammoth bailout of two unprofitable nuclear power plants owned by a subsidiary of the utility, as well as two coal-fired electric plants and solar energy projects.Mr. Householder, 64, is appealing his racketeering conviction, which took place in federal court last June. Among other things, the new state charges assert that he illegally tapped a campaign account to pay $750,000 in legal fees for his defense and that he failed to disclose loans, debts, legal fees and gifts from lobbyists in ethics statements required of members of the state legislature.The charges — three counts of theft, five counts of record-tampering and single counts of money laundering and telecommunications fraud — could permanently bar Mr. Householder from public office if convicted.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

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    China Sets Economic Growth Target of About 5%

    Premier Li Qiang targets growth of about 5 percent this year but signals continued reluctance to use deficit spending for economic stimulus.China’s top leaders on Tuesday set an ambitious target for economic growth but they signaled only modest stimulus measures, not the aggressive support for China’s domestic economy that many analysts believe is necessary to halt a steep slide in the housing market and ease consumer malaise and investor wariness.Premier Li Qiang, the country’s No. 2 official after Xi Jinping, said in his report to the annual session of the legislature that the government would seek economic growth of “around 5 percent.” That is the same target that China’s leadership set for last year, when official statistics ended up showing that the country’s gross domestic product grew 5.2 percent.The country’s program for state spending showed little change. Mr. Li said that the central government’s deficit would be set at 3 percent of economic output, but that the government was ready to issue another $140 billion worth of bonds to pay for unspecified projects of national importance. The more the government borrows, the more it can spend on initiatives that could boost the economy.China had also set the deficit at 3 percent early last year, before raising it in October to 3.8 percent when the government approved $140 billion in additional bonds to pay for disaster relief and prevention measures after severe summer flooding.Conspicuously missing from the premier’s agenda for this year was a move to shore up the country’s social safety net or introduce other policies, like vouchers or coupons, that would directly address Chinese consumers’ very weak confidence and unwillingness to spend money.“There’s a lot of positive noises for the economy, but not a lot of concrete proposals for how to resolve the country’s growth difficulties,” said Neil Thomas, a fellow at the Center for China Analysis of the Asia Society.

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    China consumer confidence index
    Source: China National Bureau of StatisticsBy The New York TimesWe are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

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    A.I. Frenzy Complicates Efforts to Keep Power-Hungry Data Sites Green

    West Texas, from the oil rigs of the Permian Basin to the wind turbines twirling above the High Plains, has long been a magnet for companies seeking fortunes in energy.Now, those arid ranch lands are offering a new moneymaking opportunity: data centers.Lancium, an energy and data center management firm setting up shop in Fort Stockton and Abilene, is one of many companies around the country betting that building data centers close to generating sites will allow them to tap into underused clean power.“It’s a land grab,” said Lancium’s president, Ali Fenn.In the past, companies built data centers close to internet users, to better meet consumer requests, like streaming a show on Netflix or playing a video game hosted in the cloud. But the growth of artificial intelligence requires huge data centers to train the evolving large-language models, making proximity to users less necessary.But as more of these sites start to pop up across the United States, there are new questions on whether they can meet the demand while still operating sustainably. The carbon footprint from the construction of the centers and the racks of expensive computer equipment is substantial in itself, and their power needs have grown considerably.Just a decade ago, data centers drew 10 megawatts of power, but 100 megawatts is common today. The Uptime Institute, an industry advisory group, has identified 10 supersize cloud computing campuses across North America with an average size of 621 megawatts.This growth in electricity demand comes as manufacturing in the United States is the highest in the past half-century, and the power grid is becoming increasingly strained.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

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    No, Wind Farms Aren’t ‘Driving Whales Crazy’

    Donald Trump has attacked the President Biden’s climate and energy policies with gusto, but many of his criticisms are simply untrue.As the South Carolina Republican primary approaches, former President Donald J. Trump, the front-runner, is increasingly hammering President Biden with inaccurate statements on energy issues.Mr. Trump — who has called climate change a “hoax,” “nonexistent” and “created by the Chinese” — rolled back more than 100 climate and environmental protections during his administration, while promoting the development of fossil fuels. He has claimed, falsely, that windmills cause cancer, that energy efficient buildings have no windows and that solar rooftops leave older people without air-conditioning in the summer.This month, Mr. Trump has repeated many of his false claims, sometimes with new twists. Here is a closer look at three of Mr. Trump’s recent climate and energy assertions.WHAT WAS SAID:“I will end Joe Biden’s war on American energy, cancel his ban on exporting American natural gas, beautiful, clean natural gas.”— Donald J. Trump at an event in North Charleston, S.C. on Feb. 14This is false. In January, President Biden announced that he would temporarily pause approvals for permits for new liquefied natural gas export terminals until the Department of Energy conducts a study on the economic, security and climate implications of increased exports. This is not a ban; the United States continues to export more natural gas than any other nation. Even with the pause in approving new terminals, the country is still on track to nearly double its export capacity by 2027 because of projects already permitted and under construction.Deputy Energy Secretary David Turk testified to Congress that the review would take “months,” not years, to complete.WHAT WAS SAID:“We are a nation whose leaders are demanding all electric cars, despite the fact that they don’t go far. They cost too much, and whose batteries are produced in China with materials only available in China when an unlimited amount of gasoline is available inexpensively in the United States, but not available in China.”— Donald J. Trump at an event in Conway, S.C., on Feb. 10This is misleading. There’s a lot here. But let’s start with this: No administration can mandate how many cars sold in the United States must be all-electric.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

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    BP to Increase Oil Output, New Chief Says

    Murray Auchincloss signaled that he would take a more profit-oriented approach than his predecessor, who started a big push into renewables.BP’s new chief executive, Murray Auchincloss, promised a flexible approach to the shift away from fossil fuels as the oil giant reported a $3 billion profit in its latest quarter on Tuesday.Mr. Auchincloss said in an interview after BP reported earnings that the company was pursuing what he called a “demand strategy.” BP’s shares rose more than 5 percent in trading in London, where the company is based.BP has a plan to become what Mr. Auchincloss called an integrated energy company. But in the meantime, “we see growing demand for energy right now across the globe,” he said. “It is not slowing down.”BP is “going to invest in today’s energy system, to help make sure that prices don’t get out of control,” Mr. Auchincloss said. “So that’s investing into oil and gas,” he added, while also putting money into alternative energy sources like biofuels and hydrogen.Mr. Auchincloss was confirmed as chief executive of BP in January. The former chief financial officer had been serving in an interim capacity after the departure of his predecessor, Bernard Looney, over his failure to fully disclose personal relationships at the company.In a presentation to financial analysts on Tuesday, Mr. Auchincloss seemed to suggest a more profit-oriented approach than the one pursued by Mr. Looney, who after becoming chief executive in 2020 began perhaps the most ambitious shift into renewable technologies among the major oil companies.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

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    Hurdles Facing Offshore Wind Farms

    More from our inbox:Pope’s Blessing for Gay Couples Isn’t EnoughThe Problem With the ‘Bidenomics’ BrandThe Financial Complexities of Employing Caregivers Chang W. Lee/The New York TimesTo the Editor: Re “Projects for Offshore Wind Stall as Supply and Funding Sputter” (front page, Dec. 12):Offshore wind projects need to be reconsidered in both scale and financing.The Times accurately identifies the causes for delays and cancellations of ambitious offshore wind projects in the Northeast Atlantic. But the success of the recent launch of the South Fork Wind project may underscore another reason so many of the huge projects have been stymied.The South Fork Wind project, 35 miles off the coast of Montauk, N.Y., when fully operational, will produce electricity to fuel 70,000 homes on eastern Long Island and will offset tons of carbon emissions each year.The scale of the project — 12 turbines — is appropriate to its siting in an area close to densely populated neighborhoods and in waters trafficked by commercial fishing and recreational boating activities.By contrast, the huge projects now being stymied by delays and cancellations would site hundreds of turbines in an even busier Atlantic corridor. These projects should be scaled back to a more appropriate size and, if costs remain prohibitively high, should be subsidized by federal and state governments.Climate change and the urgent need to reduce carbon emissions justify public financial support, which has long been extended to the fossil fuel industry.Judith HopeEast Hampton, N.Y.The writer is the founder of Win With Wind, a nonprofit local citizens group.To the Editor:This article illuminates the mountain of hurdles faced by the offshore wind industry and, importantly, the response by developers and state legislators.The focus on course correcting is spot-on. We cannot and should not lessen our resolve to develop offshore wind as a solution to the growing instability of our climate. You need only look at the stark ocean events happening faster than expected — marine heat waves, bleaching coral reefs, disappearing species — to see the need for renewables.Yet, a reset for offshore wind should not come without a renewed commitment to responsible development that considers the environment and people. If offshore wind is to be successful, beyond overcoming the financial hurdles, it must avoid, minimize and mitigate negative impacts to our marine ecosystems, Native American tribes and the fishing industry.Through early and robust engagement with these affected communities and investments in marine mitigation technology and strategies, we can avoid more stumbling blocks in the future, and ensure that offshore wind is able to do what it needs to in the long run: protect us, the ocean and marine species from the worst effects of climate change.Emily WoglomWashingtonThe writer is executive vice president of Ocean Conservancy.To the Editor:Re “New York Turns On Wind Farm in Atlantic” (news article, Dec. 6):As New York’s first offshore wind turbine begins delivering electricity to homes, New York State has cemented itself as a nationwide leader in clean energy. New Yorkers deserve to take a moment to celebrate this achievement.South Fork Wind will be the largest offshore wind farm in North America. And, it’s just the first of eight planned offshore wind projects in New York State.New York has navigated many obstacles to bring its residents the reliable, local energy of offshore wind, and with it, good-paying jobs and cleaner air. New Yorkers know that the climate crisis is already on our doorstep, so we are leading the charge to switch to clean energy, propelled by the innovation of offshore wind. Let’s remain steadfast in our commitment to being the nation’s offshore wind leader.Julie TigheNew YorkThe writer is president of the New York League of Conservation Voters.Pope’s Blessing for Gay Couples Isn’t EnoughGuglielmo Mangiapane/ReutersTo the Editor: Re “Same-Sex Pairs Can Be Blessed, Francis Affirms” (front page, Dec. 19):I’m not a practicing Catholic, but I have always admired Pope Francis and his efforts to move his church toward a more timely way of thinking. His actions are unprecedented and must be acknowledged and appreciated.But, as a 69-year-old gay man, I don’t need a priest’s blessing in the dark of night, out of sight, in a ceremony that must not even remotely resemble a wedding.My partner and I were together for 20 years. We were supportive and devoted to each other that entire time, including during his 12-year battle with five bouts of cancer, which he lost at the age of 52. (And which, by the way, was not God’s retribution for our lifestyle. My dear mother, a devout Catholic, died of the same cancer at almost the same age.)What my partner and I would have welcomed is an acknowledgment that our relationship was as valid as any heterosexual marriage.Thank you, Pope Francis. May you reach your goal of having your church acknowledge all God’s people equally.Charlie ScatamacchiaOssining, N.Y.The Problem With the ‘Bidenomics’ BrandTo the Editor: Re “Democratic Governors Offer Campaign Tips for a Struggling Biden” (news article, Dec. 5):I would add this to the list of advice: Stop using the term “Bidenomics.” Polls clearly show that Americans are disturbed by inflation, high interest rates and their personal struggles to just get by.“Bidenomics” may be well intentioned but ties President Biden personally to voters’ economic woes, making him a target for ridicule. Mr. Biden must get out there to tout his successes, acknowledge the disconnect between strong macroeconomic numbers and people’s perceptions, and lay out his vision for making their lives better over the next four years. He will have to channel his inner Harry Truman to avoid defeat and the disaster of another Trump presidency.Mark McIntyreLos AngelesThe Financial Complexities of Employing Caregivers Desiree Rios/The New York TimesTo the Editor: Re “Desperate Families Seek Affordable Home Care” (“Dying Broke” series, front page, Dec. 6):This article about how difficult it is for families to find affordable home care will ring true to many readers. However, it should have also mentioned the problems families have in complying with tax and regulatory responsibilities if they hire aides directly (as is common) rather than through an agency.As employers, they must keep accurate payment records, prepare W-2 statements, pay the employer share of employment taxes, and often file and fund quarterly state tax reports. Simply finding out about the requirements is challenging.In my own case, I learned about one financial requirement only after a year of employing a caregiver — and I had been a C.P.A. with decades of experience with family financial matters!Some simple changes would help. First and foremost, every state should prepare and publicize a guide to regulatory and tax responsibilities when the family employs aides instead of using an agency. Second, allow annual reporting rather than quarterly reporting. Third, allow families to submit paper reports rather than making online submission mandatory. Finally (though I could go on), eliminate quarterly withholding requirements.Bob LykeWashington More

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    Biden to Travel to Minnesota to Highlight Rural Investments

    The president’s push to focus attention on the domestic economy comes as his administration has been dealing with events overseas after the terrorist attacks in Israel.The White House on Wednesday will announce more than $5 billion in funding for agriculture, broadband and clean energy needs in sparsely populated parts of the country as President Biden travels to Minnesota to kick off an administration-wide tour of rural communities.The president’s efforts to focus attention on the domestic economy ahead of next year’s campaign come after three weeks in which his administration has been seized by events overseas following the terrorist attacks in Israel and the state’s subsequent military action in Gaza.The trip will take place as Mr. Biden is urging Congress to quickly pass a $105 billion funding package that includes emergency aid to Israel and Ukraine, two conflicts he has described as threats to democracy around the globe.But the president and his aides are well aware that his hopes for a second term are likely to be determined closer to home. Rural voters like the ones he will address at a corn, soybean and hog farm south of Minneapolis are increasingly voting Republican. A recent poll showed that most voters had heard little or nothing about a health care and clean energy law that is the cornerstone of Mr. Biden’s economic agenda. And the president even faces a challenge within his own party, from Representative Dean Phillips of Minnesota, who announced his long-shot presidential bid last week.Karine Jean-Pierre, the White House press secretary, declined on Tuesday to speak about campaign issues, citing the Hatch Act, which limits political activity by federal officials, but said that Mr. Biden “loves Minnesota.” Administration officials have said Mr. Biden’s trip was planned before Mr. Phillips announced his candidacy.The White House has called the next two weeks of events the “Investing in Rural America Event Series.” It includes more than a dozen trips by Mr. Biden as well as cabinet secretaries and other senior administration officials. The White House said in a statement that the tour would highlight federal investments that “are bringing new revenue to farms, increased economic development in rural towns and communities, and more opportunity throughout the country.”Mr. Biden will be joined on Wednesday by Tom Vilsack, the agriculture secretary. Against the backdrop of a family farm that uses techniques to make crops more resilient to climate change, they will announce $1.7 billion for farmers nationwide to adopt so-called climate-smart agriculture practices.Agriculture Secretary Tom Vilsack will join President Biden in Minnesota and later travel to Indiana, Wyoming and Colorado.Haiyun Jiang for The New York TimesOther funding announcements include $1.1 billion in loans and grants to upgrade infrastructure in rural communities; $2 billion in investments as part of a program that helps rural governments work more closely with federal agencies on economic development projects; $274 million to expand high-speed internet infrastructure; and $145 million to expand access to wind, solar and other renewable energy, according to a White House fact sheet.“Young people in rural communities shouldn’t have to leave home to find opportunity,” Neera Tanden, director of the White House Domestic Policy Council, said Tuesday on a call with reporters.She said federal investments were creating “a pathway for the next generation to keep their roots in rural America.”Gov. Tim Walz of Minnesota, a Democrat, said he expected Mr. Biden to face serious headwinds in rural communities, in large part because of inflation levels.“It is a little challenging, there’s no denying, when prices go up,” Mr. Walz said. “The politics have gotten a little angrier. I think folks are feeling a little behind.”But Mr. Walz also praised Mr. Biden for spending time in rural communities. “Democrats need to show up,” he said.Kenan Fikri, the director of research at the Economic Innovation Group, a Washington think tank, said the Biden administration had made sizable investments over the past two and a half years in agriculture, broadband and other rural priorities.“The administration has a lot to show for its economic development efforts in rural communities,” he said, but “whether voters will credit Biden for a strong economic performance is another question.”Later in the week Mr. Vilsack will travel to Indiana, Wyoming and Colorado to speak with agricultural leaders and discuss land conservation. Deb Haaland, the interior secretary, will go to her home state of New Mexico to highlight water infrastructure investments.Energy Secretary Jennifer M. Granholm will be in Arizona to talk about the electricity grid and renewable energy investment in the rural Southwest.The veterans affairs secretary, Denis McDonough, plans to visit Iowa to discuss improving access to medical care for veterans in rural areas. Isabel Guzman, who leads the Small Business Administration, will travel to Georgia to talk about loans for rural small businesses.Miguel A. Cardona, the education secretary, will go to New Hampshire to promote how community colleges help students from rural areas. Xavier Becerra, the secretary of health and human services, will be in North Carolina to talk about health care access in rural areas. More